The latest update of “Global Machine Condition Monitoring Market” released by Stratagem Market Insights, forecasts further growth in the global supply and demand. The market report builds upon our previous iteration and the new release reinforces the sentiment that the 2021-2028 period is expected to be a promising period for the global Machine Condition Monitoring Market.
Overview of the Machine Condition Monitoring Market:
Machine condition monitoring is a technique for tracking a machine's health and performance over time. It is used to measure parameters such as temperature, current, vibration, and RPM. Launch of new condition-monitoring platforms is expected to propel growth of the global machine condition monitoring market over the forecast period. For instance, in April 2020, Brüel & Kjær Vibro launched its next-generation VCM-3 condition-monitoring platform for a wide range of industries.
Launch of IoT-based products is expected to offer lucrative growth opportunities for players in the global machine condition monitoring market. For instance, in June 2020, Yokogawa Corporation of America launched Sushi Sensor, an OpreX Asset Management and Integrity wireless solution, with advanced AI analytics via GA10 software for IIoT plant asset management applications. Moreover, acquisition strategies are also expected to offer lucrative growth opportunities for players in the global machine condition monitoring market. For instance, in March 2020, Rockwell Automation, Inc. acquired ASEM, S.p.A., a provider of a complete range of Industrial PCs (IPCs), Human-Machine Interface (HMI) hardware and software, remote access capabilities, and secure Industrial IoT gateway solutions.
Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in June 2020, Meggitt PLC, signed a US$ 15 million contract with Chemring Australia Pty for the continued supply of flare countermeasure assemblies on the F35 fighter jet.
Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in October 2019, Brüel & Kjær Vibro launched DT-12x series of transmitters that are fully integrated, loop-powered displacement transmitters.
Key Takeaways:
- Increasing adoption of condition monitoring systems to augment growth of the global machine condition monitoring market over the forecast period. For instance, in March 2020, GE Aviation announced a five year contract extension with Meggitt PLC for the supply of valves, sensors and heat exchangers across a range of engine programs.
- Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in December 2019, Yokogawa Electric Corporation entered into a strategic alliance framework agreement to accelerate collaboration with Saudi Basic Industries Corporation. The agreement includes selection of Yokogawa as a preferred supplier of control systems.
- Major players operating in the global machine condition monitoring market include, IBM, Brüel & Kjær Vibro, Meggitt PLC, Yokogawa Electric Corporation, Rockwell Automation, Inc., SKF GROUP, GE Bently Nevada, and Emerson Electric Co.
Market Estimation:
The data processed and validated in secondary and primary research is analyzed to compute market estimation statistics. It involves market breakdown, bottom-up, and top-down research. Our research team considers macroeconomic factors to forecast a comprehensive statistical time series. Each data point is validated through the process data triangulation method to derive the final market estimation.
COVID-19 Impact:
The updated report, free extract available, comes with an option to access premium features that covers extensive past, current, and future data. Other valuable updates to the global Machine Condition Monitoring Market report include a reviewed and refined pricing model for manufacturing and launch prices. The report incorporates new content to help give decision-makers key knowledge about the market and offers up-to-date forecasts accounting for the economic situation and impact of COVID-19.
Market Competition Assessment:
The Machine Condition Monitoring Market is observed as the most diversified and competitive market comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are
- Emerson Electric Co. (US)
- General Electric Co. (US)
- Honeywell International Inc. (US)
- National Instruments Corp. (US)
- SKF AB (Sweden)
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2028. For the purpose of this study, Stratagem Market Insights has segmented the global Machine Condition Monitoring Market report on the basis of Types, Applications, and Regions.
By Product Type, the market is primarily segmented into:
- Vibration Monitoring
- Thermography
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission
- Motor Current Analysis
By Applications, the market is segmented into:
- Oil & Gas
- Power Generation
- Metals & Mining
- Chemicals
- Automotive
- Aerospace & Defense
- Food & Beverages
- Marine
- Others (Healthcare, Cement, Paper & Pulp, and Semiconductor & Electronics)
The report covers the following Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- Africa
- Middle East
Primary Research Insights:
The process of primary research starts with the verification and validation of every detail obtained in secondary research. This is done with the help of industry experts and in-house analysts who check the authentication of the data. Stratagem Market Insights also ensures that our research is not restricted by certain boundaries, which is why we consult each individual in the value chain including raw materials suppliers, local vendors, wholesale dealers, distributors, etc. We also make sure that every detail provided in the document will hold a certain value and it will not be trivial information. Moreover, current market trends, growth opportunities, drivers, and restraints are computed in primary research only.
The Report Sheds Light on Various Aspects of the Market, Some of the important ones are:
- What can be the best investment choices for venturing into new product and service lines?
- Which regions might see the demand maturing in certain segments in near future?
- Which government regulations might challenge the status of key regional markets?
- What are some of the value-grab opportunities in various segments?
- What will be the barrier to entry for new players in the market?
Why You Should Buy This Report:
- The report provides an all-inclusive environment of the analysis for the market
- In-depth secondary research and primary interviews
- Impact of various social, political, and economic factors
- Porter’s Five Forces Analysis
- Competitive Landscape
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into a specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Machine Condition Monitoring Market Revenue
1.4 Market Analysis by Type
1.5 Market by Application
1.5.1 Global Machine Condition Monitoring Market Share by Application: 2021 VS 2027
1.6 Coronavirus Disease 2019 (Covid-19) Impact: Machine Condition Monitoring Market
1.6.1 How the Covid-19 is Affecting the Machine Condition Monitoring Market
1.6.1.1 Machine Condition Monitoring Market Business Impact Assessment - Covid-19
1.6.2 Market Trends and Machine Condition Monitoring Market Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered
2 Global Growth Trends by Regions
2.1 Machine Condition Monitoring Market Perspective (2015-2027)
2.2 Machine Condition Monitoring Market Growth Trends by Regions
2.2.1 Machine Condition Monitoring Market Size by Regions: 2015 VS 2021 VS 2027
2.2.2 Machine Condition Monitoring Market Historic Market Share by Regions (2015-2021)
2.2.3 Machine Condition Monitoring Market Forecasted Market Size by Regions (2021-2027)
2.3 Industry Trends and Growth Strategy
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Challenges
2.3.4 Porters Five Forces Analysis
2.3.5 Machine Condition Monitoring Market Growth Strategy
2.3.6 Primary Interviews with Key Machine Condition Monitoring Market Players (Opinion Leaders)
3 Competition Landscape by Key Players
3.1 Global Top Machine Condition Monitoring Market Players by Market Size
3.1.1 Global Top Machine Condition Monitoring Market Players by Revenue (2015-2021)
3.1.2 Global Machine Condition Monitoring Market Revenue Market Share by Players (2015-2021)
3.1.3 Global Machine Condition Monitoring Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.2 Global Machine Condition Monitoring Market Concentration Ratio
3.2.1 Global Machine Condition Monitoring Market Concentration Ratio (CR5 and HHI)
3.2.2 Global Top 10 and Top 5 Companies by Machine Condition Monitoring Market Revenue in 2019
3.3 Machine Condition Monitoring Market Key Players Head office and Area Served
3.4 Key Players Machine Condition Monitoring Market Product Solution and Service
3.5 Date of entering into Machine Condition Monitoring Market
3.6 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type (2015-2027)
4.1 Global Machine Condition Monitoring Market Historic Market Size by Type (2015-2021)
4.2 Global Machine Condition Monitoring Market Forecasted Market Size by Type (2021-2027)
5 Machine Condition Monitoring Market Breakdown Data by Application (2015-2027)
5.1 Global Machine Condition Monitoring Market Size by Application (2015-2021)
5.2 Global Machine Condition Monitoring Market Forecasted Market Size by Application (2021-2027)
6 North America
6.1 North America Machine Condition Monitoring Market Size (2015-2021)
6.2 Machine Condition Monitoring Market Key Players in North America (2019-2021)
6.3 North America Machine Condition Monitoring Market Size by Type (2015-2021)
6.4 North America Machine Condition Monitoring Market Size by Application (2015-2021)
7 Europe
7.1 Europe Machine Condition Monitoring Market Size (2015-2021)
7.2 Machine Condition Monitoring Market Key Players in Europe (2019-2021)
7.3 Europe Machine Condition Monitoring Market Size by Type (2015-2021)
7.4 Europe Machine Condition Monitoring Market Size by Application (2015-2021)
8 China
8.1 China Machine Condition Monitoring Market Size (2015-2021)
8.2 Machine Condition Monitoring Market Key Players in China (2019-2021)
8.3 China Machine Condition Monitoring Market Size by Type (2015-2021)
8.4 China Machine Condition Monitoring Market Size by Application (2015-2021)
9 Japan
9.1 Japan Machine Condition Monitoring Market Size (2015-2021)
9.2 Machine Condition Monitoring Market Key Players in Japan (2019-2021)
9.3 Japan Machine Condition Monitoring Market Size by Type (2015-2021)
9.4 Japan Machine Condition Monitoring Market Size by Application (2015-2021)
10 Southeast Asia
10.1 Southeast Asia Machine Condition Monitoring Market Size (2015-2021)
10.2 Machine Condition Monitoring Market Key Players in Southeast Asia (2019-2021)
10.3 Southeast Asia Machine Condition Monitoring Market Size by Type (2015-2021)
10.4 Southeast Asia Machine Condition Monitoring Market Size by Application (2015-2021)
11 India
11.1 India Machine Condition Monitoring Market Size (2015-2021)
11.2 Machine Condition Monitoring Market Key Players in India (2019-2021)
11.3 India Machine Condition Monitoring Market Size by Type (2015-2021)
11.4 India Machine Condition Monitoring Market Size by Application (2015-2021)
12 Central & South America
12.1 Central & South America Machine Condition Monitoring Market Size (2015-2021)
12.2 Machine Condition Monitoring Market Key Players in Central & South America (2019-2021)
12.3 Central & South America Machine Condition Monitoring Market Size by Type (2015-2021)
12.4 Central & South America Machine Condition Monitoring Market Size by Application (2015-2021)
13 Key Players Profiles
13.1 Company Details
13.2 Business Overview and Its Total Revenue
13.3 Machine Condition Monitoring Market Introduction
13.4 Machine Condition Monitoring Market Business (2015-2021)
13.5 Recent Development
14 Analyst's Viewpoints/Conclusions
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Disclaimer
15.3 Author Details
List of Table
Table 1. Machine Condition Monitoring Market Key Market Segments
Table 2. Key Players Covered: Ranking by Machine Condition Monitoring Market Revenue
Table 3. Ranking of Global Top Machine Condition Monitoring Market Manufacturers by Revenue (US$ Million) in 2019
Table 4. Global Machine Condition Monitoring Market Size Growth Rate by Type (US$ Million): 2021 VS 2027
Table 5. COVID-19 Impact Global Market
Table 6. Opportunities and Trends for Machine Condition Monitoring Market Players in the COVID-19 Landscape
Table 7. Present Opportunities in China & Elsewhere Due to the Coronavirus Crisis
Table 8. Key Regions/Countries Measures against Covid-19 Impact
Table 9. Proposal for Machine Condition Monitoring Market Players to Combat Covid-19 Impact
Table 10. Global Machine Condition Monitoring Market Size Growth by Application (US$ Million): 2021 VS 2027
Table 11. Global Machine Condition Monitoring Market Size by Regions (US$ Million): 2021 VS 2027
Table 12. Global Machine Condition Monitoring Market Size by Regions (2015-2021) (US$ Million)
Table 13. Global Machine Condition Monitoring Market Share by Regions (2015-2021)
Table 14. Global Machine Condition Monitoring Market Forecasted Market Size by Regions (2021-2027) (US$ Million)
Table 15. Global Machine Condition Monitoring Market Share by Regions (2021-2027)
Table 16. Market Top Trends
Table 17. Key Drivers: Impact Analysis
Table 18. Key Challenges
Table 19. Machine Condition Monitoring Market Growth Strategy
Table 20. Main Points Interviewed from Key Machine Condition Monitoring Market Players
Table 21. Global Machine Condition Monitoring Market Revenue by Players (2015-2021) (Million US$)
Table 22. Global Machine Condition Monitoring Market Share by Players (2015-2021)
Table 23. Global Top Machine Condition Monitoring Market Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Machine Condition Monitoring Market as of 2019)
Table 24. Global Machine Condition Monitoring Market by Players Market Concentration Ratio (CR5 and HHI)
Table 25. Key Players Headquarters and Area Served
Table 26. Key Players Machine Condition Monitoring Market Product Solution and Service
Table 27. Date of entering into Machine Condition Monitoring Market
Table 28. Mergers & Acquisitions, Expansion Plans
Table 29. Global Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 30. Global Machine Condition Monitoring Market Size Share by Type (2015-2021)
Table 31. Global Machine Condition Monitoring Market Revenue Market Share by Type (2021-2027)
Table 31. Global Machine Condition Monitoring Market Size Share by Application (2015-2021)
Table 33. Global Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 34. Global Machine Condition Monitoring Market Size Share by Application (2021-2027)
Table 35. North America Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 36. North America Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 37. North America Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 38. North America Machine Condition Monitoring Market Share by Type (2015-2021)
Table 39. North America Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 40. North America Machine Condition Monitoring Market Share by Application (2015-2021)
Table 41. Europe Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 42. Europe Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 43. Europe Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 44. Europe Machine Condition Monitoring Market Share by Type (2015-2021)
Table 45. Europe Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 46. Europe Machine Condition Monitoring Market Share by Application (2015-2021)
Table 47. China Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 48. China Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 49. China Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 50. China Machine Condition Monitoring Market Share by Type (2015-2021)
Table 51. China Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 52. China Machine Condition Monitoring Market Share by Application (2015-2021)
Table 53. Japan Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 54. Japan Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 55. Japan Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 56. Japan Machine Condition Monitoring Market Share by Type (2015-2021)
Table 57. Japan Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 58. Japan Machine Condition Monitoring Market Share by Application (2015-2021)
Table 59. Southeast Asia Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 60. Southeast Asia Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 61. Southeast Asia Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 62. Southeast Asia Machine Condition Monitoring Market Share by Type (2015-2021)
Table 63. Southeast Asia Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 64. Southeast Asia Machine Condition Monitoring Market Share by Application (2015-2021)
Table 65. India Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 66. India Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 67. India Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 68. India Machine Condition Monitoring Market Share by Type (2015-2021)
Table 69. India Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 70. India Machine Condition Monitoring Market Share by Application (2015-2021)
Table 71. Central & South America Key Players Machine Condition Monitoring Market Revenue (2019-2021) (Million US$)
Table 72. Central & South America Key Players Machine Condition Monitoring Market Share (2019-2021)
Table 73. Central & South America Machine Condition Monitoring Market Size by Type (2015-2021) (Million US$)
Table 74. Central & South America Machine Condition Monitoring Market Share by Type (2015-2021)
Table 75. Central & South America Machine Condition Monitoring Market Size by Application (2015-2021) (Million US$)
Table 76. Central & South America Machine Condition Monitoring Market Share by Application (2015-2021)
Table 77. Company Details
Table 78. Business Overview
Table 79. Product details
Table 80. Revenue in Machine Condition Monitoring Market Business (2015-2021) (Million US$)
Table 81. Recent Development
List of Figures
Figure 1. Global Machine Condition Monitoring Market Share by Type: 2021 VS 2027
Figure 2. Global Machine Condition Monitoring Market Share by Application: 2021 VS 2027
Figure 3. Emergency Care Case Studies
Figure 4. Outpatient Facilities Case Studies
Figure 5. Hospitals Case Studies
Figure 6. Home Healthcare Facilities Case Studies
Figure 7. Machine Condition Monitoring Market Report Years Considered
Figure 8. Global Machine Condition Monitoring Market Size YoY Growth 2015-2027 (US$ Million)
Figure 9. Global Machine Condition Monitoring Market Share by Regions: 2021 VS 2027
Figure 10. Global Machine Condition Monitoring Market Share by Regions (2021-2027)
Figure 11. Porter's Five Forces Analysis
Figure 12. Global Machine Condition Monitoring Market Share by Players in 2019
Figure 13. Global Top Machine Condition Monitoring Market Players by Company Type (Tier 1, Tier 2, and Tier 3) (based on the Revenue in Machine Condition Monitoring Market as of 2019
Figure 14. The Top 10 and 5 Players Market Share by Machine Condition Monitoring Market Revenue in 2019
Figure 15. North America Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 16. Europe Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 17. China Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 18. Japan Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 19. Southeast Asia Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 20. India Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 21. Central & South America Machine Condition Monitoring Market Size YoY Growth (2015-2021) (Million US$)
Figure 22. Bottom-up and Top-down Approaches for This Report
Figure 23. Data Triangulation
Figure 24. Key Executives Interviewed
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