Global Machine Condition Monitoring Market 2022-2028

Global Machine Condition Monitoring Market 2022-2028

The global machine condition monitoring market is expected to increase by USD 2.2 billion, at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2028, according to the latest edition of the Global Machine Condition Monitoring Market Report.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global machine condition monitoring market. It traces the market’s historic and forecast market growth. The report identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches. This study also provides an analysis of the impact of the COVID-19 crisis on the machine condition monitoring industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the type, end user, and region. The global market for machine condition monitoring can be segmented by type: hardware, software, service. According to the research, the hardware segment had the largest share in the global machine condition monitoring market. Machine condition monitoring market is further segmented by end user: oil and gas, power , manufacturing, aerospace and military, transportation, others. In 2021, the manufacturing segment made up the largest share of revenue generated by the machine condition monitoring market. Based on region, the machine condition monitoring market is segmented into: North America, Europe, Asia-Pacific, Rest of the World (RoW).

The hardware market is further segmented into vibration condition monitoring equipment, thermography equipment, lubricating oil analysis, ultrasound emission monitoring, others. Gen Consulting Company research indicates that the vibration condition monitoring equipment segment occupied the largest share of this market in 2021 and is expected to draw the highest demand in coming years. Furthermore, the service market has been categorized into instrumentation maintenance, machinery diagnostics, remote monitoring. Globally, the machinery diagnostics segment made up the largest share of the machine condition monitoring market.

Market Segmentation

By type: hardware, software, service

By end user: oil and gas, power , manufacturing, aerospace and military, transportation, others

By region: North America, Europe, Asia-Pacific, Rest of the World (RoW)

The report also provides analysis of the key companies of the industry and their detailed company profiles including Emerson Electric Co., Fluke Corporation, Nippon Avionics Co., Ltd., Parker Hannifin Corporation, Perkin Elmer Inc., Rockwell Automation Inc., SKF AB, Teledyne FLIR LLC, Thermo Fisher Scientific Inc., among others.

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Historical & Forecast Period

This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report

• To analyze and forecast the market size of the global machine condition monitoring market.
• To classify and forecast the global machine condition monitoring market based on type, end user, region.
• To identify drivers and challenges for the global machine condition monitoring market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global machine condition monitoring market.
• To identify and analyze the profile of leading players operating in the global machine condition monitoring market.

• Gain a reliable outlook of the global machine condition monitoring market forecasts from 2022 to 2028 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.