Global Machine Condition Monitoring Market & Forecast 2016 To 2023

Introduction

Machine condition monitoring is the process of monitoring the condition of a machine with the commitment to predict mechanical wear and tear. Vibration, noise, and temperature measurements are often used as key indicators of the state of the machine. Trends in the data provide health information about the machine and help to detect machine faults early, which prevents unexpected failure and costly repair. It has been observed that an increase in need for reduced maintenance cost is boosting the machine condition monitoring market. In this changing environment, a shift from preventive to predictive maintenance is observed which has led to high adoption of machine condition monitoring.
The machine condition monitoring provides numerous benefits as increased machine availability and reliability, improved operating efficiency, improved risk management (less downtime), reduced maintenance costs (better planning), reduced spare parts inventories, improved safety, improved knowledge of the machine condition (safe short-term overloading of machine possible), extended operational life of the machine, improved customer relations (less planned/unplanned downtime), elimination of chronic failures among others.

Machine maintenance monitoring strategies like predictive maintenance are beneficial to conserve costs even in tight liquidity and postpone the purchase of new equipment by effective monitoring and maintenance of the existing machinery. Devices like transmitters and vibration sensors also combat increased costs and minimize dependence on the servicing sector and IT support. They save time and uphold the safety standards for human personnel and direct them toward more decision-making tasks. At present, vibration-based monitoring is the most widely used modality among all other techniques.

The global machine condition monitoring market is expected to grow approximately at USD 2916.54 Million by 2023, approx. 5.55% of CAGR between 2016 and 2023.

Key Players

The Key Players of machine condition monitoring market include Emerson Electric (U.S.), General Electric (U.S.), Honeywell International Inc. (U.S.), Rockwell Automation (U.S.), Timken (U.S.), FLIR Systems (U.S.), SKF (Sweden), NSK (Japan), Parker-Hannifin (U.S.), PCB Piezotronics (U.S.), Halma (U.K.), National Instruments (U.S.), Shinkawa (Japan), Azima DLI (U.S.), Bruel & Kjaer Sound and Vibration Measurement (U.S.), Fluke Corporation (U.S.), PDS Condition Monitoring Services (Australia), Saj Engineering & Trading Company (Bangladesh), Scientific Monitoring, Inc. (U.S.), SPM Instrument (Sweden) and others.

Global Machine Condition Monitoring Market Analysis & Forecast, from 2016 to 2023
To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the machine condition monitoring market.
To provide insights about factors affecting the market growth.
To analyze the machine condition monitoring market based on porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment on the basis of output, technology and end user.
To provide strategic profiling of Key Players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the machine condition monitoring market.

Target Audience
Machine Condition Monitoring Equipment Manufactures
Technology Providers
Distributors
Research firms
Consultancy firms
Semiconductor Manufacturers
Stakeholders
End-user sectors
Technology Investors

Key Findings
The Global Machine condition monitoring market is expected to reach USD 2,916.54 million by 2023.
By End-user, automotive industry holds the largest market share of USD 486.4 million by the end of forecast period.
The pharmaceutical industry is expected to grow with a highest CAGR of 6.54% during the forecast period.
Geographically, North America has been projected to have the largest market share in global machine condition monitoring market and has been projected to emerge as the fastest growing region.

Regional and Country Analysis of Machine Condition Monitoring Market Estimation and Forecast
Machine Condition Monitoring market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and integration is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global machine condition monitoring market share followed by Europe which stands as the second biggest market due to the heavy demand from various industry verticals whereas, Asia Pacific stands as third biggest market.

The reports also cover country level analysis:
North America
o US
o Canada
o Mexico
o Others
Europe
o Germany
o UK
o France
o Rest of the Europe
Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
Rest of the World
1 Executive Summary 10
1.1 Highlights 10
1.2 Key Market Highlights 10
1.3 Maintenance Methodologies 10
2 Market Landscape 16
2.1 Market Overview 16
3 Market Dynamics 21
3.1 Drivers 21
3.1.1 Shift from Preventive Maintenance to Predictive Maintenance 21
3.1.2 Employee Health and Safety Standards Commonly Followed Across Industries Worldwide 23
3.1.3 Capital investments by leading automobile companies 23
3.2 Impact of Drivers 24
3.3 Market Challenges 24
3.3.1 Lack of customization and increased costs 25
3.3.2 Slowdown in Major Economies and its Implications on Machine Condition Monitoring Market 25
3.4 Impact of Drivers and Challenges 26
3.5 Market Trends 27
3.5.1 Integration of IoT in machine condition monitoring 27
3.6 Five Forces analysis 28
4 Global Machine Condition Monitoring, By End-user 30
4.1 Introduction 30
4.1.1 Power 31
4.1.2 Oil and Gas 32
4.1.3 Chemical and Petrochemical 34
4.1.4 Pulp and Paper 35
4.1.5 Cement 36
4.1.6 Steel and Metal 38
4.1.7 Pharmaceutical 39
4.1.8 Automotive 40
4.1.9 Food and Beverage 42
5 Regional Market Analysis 44
5.1 Introduction 44
5.1.1 North America 46
5.1.2 Europe 48
5.1.3 Asia Pacific 52
5.1.4 Rest of the World 56
6 Company Profile 59
6.1 Introduction 59
6.2 Emerson Electric 60
6.2.1 Business Overview 60
6.2.2 Emerson Electric Key Products 60
6.2.3 Emerson Electric Key Financials 60
6.2.4 Company Revenue 61
6.2.5 Business Strategy 62
6.2.6 SWOT Analysis 62
6.3 General Electric 63
6.3.1 Business overview 63
6.3.2 General Electric Key Products 63
6.3.3 General Electric Key Financials 63
6.3.4 Company Revenue 64
6.3.5 Business Strategy 64
6.3.6 SWOT Analysis 65
6.4 Honeywell International, Inc. 66
6.4.1 Business Overview 66
6.4.2 Honeywell International Key Products 66
6.4.3 Honeywell International Key Financials 66
6.4.4 Company Revenue 66
6.4.5 Business Strategy 67
6.4.6 SWOT Analysis 67
6.5 Rockwell Automation 69
6.5.1 Business Overview 69
6.5.2 Rockwell Automation Key Products 69
6.5.3 Rockwell Automation Key Financials 69
6.5.4 Company Revenue 70
6.5.5 Business Strategy 70
6.5.6 SWOT Analysis 71
6.6 Timken 72
6.6.1 Business Overview 72
6.6.2 Timken Key Products 72
6.6.3 Timken Key Financials 72
6.6.4 Company Revenue 72
6.6.5 Business Strategy 72
6.6.6 SWOT Analysis 73
6.7 FLIR Systems 74
6.7.1 Business Overview 74
6.7.2 FLIR Systems Key Products 74
6.7.3 FLIR Systems Key Financials 74
6.7.4 Company Revenue 74
6.7.5 Business Strategy 74
6.7.6 SWOT Analysis 75
6.8 SKF 76
6.8.1 Business Overview 76
6.8.2 SKF Key Products 76
6.8.3 SKF Key Financials 76
6.8.4 Company Revenue 77
6.8.5 Business Strategy 77
6.8.6 SWOT Analysis 77
6.9 NSK 79
6.9.1 Business Overview 79
6.9.2 NSK Key Products 79
6.9.3 NSK Key Financials 79
6.9.4 Company Revenue 79
6.9.5 Business Strategy 79
6.9.6 SWOT Analysis 80
6.10 Parker-Hannifin 81
6.10.1 Business overview 81
6.10.2 Parker-Hannifin Key Products 81
6.10.3 Parker-Hannifin Key Financials 81
6.10.4 Company Revenue 82
6.10.5 Business Strategy 82
6.10.6 SWOT Analysis 83
6.11 PCB Piezotronics 84
6.11.1 Business overview 84
6.11.2 PCB Piezotronics Key Products 84
6.11.3 MTS System Corporation (PCB Piezotronics) Key Financials 84
6.11.4 Company Revenue 84
6.12 Halma 85
6.12.1 Business overview 85
6.12.2 Halma Key Products 85
6.12.3 Halma Key Financials 85
6.12.4 Company Revenue 85
6.12.5 Business Strategy 86
6.13 National Instruments 87
6.13.1 Business overview 87
6.13.2 National Instruments Key Products 87
6.13.3 National Instruments Key Financials 87
6.13.4 Company Revenue 87
6.14 Shinkawa 89
6.14.1 Business Overview 89
6.14.2 Shinkawa Key Products 89
6.14.3 Shinkawa Key Financials 89
6.14.4 Company Revenue 89
6.15 Azima DLI 90
6.15.1 Business Overview 90
6.15.2 Azima DLI Key Products 90
6.16 Bruel & Kjaer Sound and Vibration Measurement 91
6.16.1 Business Overview 91
6.16.2 Bruel & Kjaer Sound and Vibration Measurement Key Products 91
6.17 Fluke Corporation 92
6.17.1 Business Overview 92
6.17.2 Fluke Corporation Key Products 92
6.18 PDS Condition Monitoring Services 93
6.18.1 Business Overview 93
6.18.2 PDS Condition Monitoring Services Key Products 93
6.19 Saj Engineering & Trading Company 94
6.19.1 Business Overview 94
6.19.2 Saj Engineering & Trading Company Key Products 94
6.20 Scientific Monitoring, Inc. 95
6.20.1 Business Overview 95
6.20.2 Scientific Monitoring Key Products 95
6.21 SPM Instrument 96
6.21.1 Business Overview 96
6.21.2 SPM Instrument Key Products 96
7 Scope of the Report 97
7.1 Market Overview 97
8 Market Research Methodology 99
8.1 Research Process 99
8.2 Primary Research 100
8.3 Secondary Research 100
8.4 Economic Indicators 101
9 Appendix 102


List Of Tables


TABLE 1 TOP-VENDORS 97
TABLE 2 OTHER PROMINENT VENDORS 98
TABLE 3 MAINTENANCE STRATEGIES 12
TABLE 4 PREDICTIVE MAINTENANCE STRATEGY 13
TABLE 5 MARKET FACTOR ANALYSIS 29
TABLE 6 TYPES OF COMMONLY-USED PREDICTIVE MACHINE CONDITION MONITORING SYSTEMS 20
TABLE 7 MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 30
TABLE 8 OIL AND GAS INDUSTRY MARKET, BY REGION (USD MILLION) 33
TABLE 9 CHEMICAL AND PETROCHEMICAL INDUSTRY MARKET, BY REGION (USD MILLION) 34
TABLE 10 PULP AND PAPER INDUSTRY MARKET, BY REGION (USD MILLION) 36
TABLE 11 CEMENT INDUSTRY MARKET, BY REGION (USD MILLION) 37
TABLE 12 STEEL AND METAL INDUSTRY MARKET, BY REGION (USD MILLION) 38
TABLE 13 PHARMACEUTICAL INDUSTRY MARKET, BY REGION (USD MILLION) 40
TABLE 14 AUTOMOTIVE INDUSTRY MARKET, BY REGION (USD MILLION) 41
TABLE 15 FOOD AND BEVERAGE INDUSTRY MARKET, BY REGION (USD MILLION) 43
TABLE 16 GLOBAL MACHINE CONDITION MONITORING MARKET, BY REGION (USD MILLION) 44
TABLE 17 NORTH AMERICA MACHINE CONDITION MONITORING MARKET, BY COUNTRY (USD MILLION) 46
TABLE 18 NORTH AMERICA MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 47
TABLE 19 EUROPE MACHINE CONDITION MONITORING MARKET, BY COUNTRY (USD MILLION) 48
TABLE 20 EUROPE MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 50
TABLE 21 ASIA PACIFIC MACHINE CONDITION MONITORING MARKET, BY COUNTRY (USD MILLION) 52
TABLE 22 ASIA PACIFIC MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 53
TABLE 23 REST OF THE WORLD MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 57
TABLE 24 ACRONYMS USED IN THE REPORT 102

List Of Figures


FIGURE 1 RESEARCH PROCESS 99
FIGURE 2 ECONOMIC INDICATORS 101
FIGURE 3 DEVELOPMENT CYCLE OF MAINTENANCE TECHNOLOGIES 11
FIGURE 4 TYPES AND ANALYTIC TECHNIQUES USED IN MACHINE CONDITION MONITORING 14
FIGURE 5 MACHINE CONDITION MONITORING MARKET SNAPSHOT 16
FIGURE 6 MACHINE CONDITION MONITORING: PORTERS FIVE FORCES 28
FIGURE 7 SEGMENTATION BASED ON END-USERS 17
FIGURE 8 SEGMENTATION BASED ON GEOGRAPHY 19
FIGURE 9 GEOGRAPHIC INDUSTRIAL CONCENTRATION (2015) 19
FIGURE 10 COMPARISON BETWEEN TYPES OF MAINTENANCE STRATEGY AND COSTS NCURRED 20
FIGURE 11 MARKET DRIVERS 21
FIGURE 12 EMPLOYEE HEALTH AND SAFETY STANDARDS 23
FIGURE 13 CAPITAL INVESTMENT BY LEADING AUTOMOBILES 24
FIGURE 14 IMPACT OF DRIVERS 24
FIGURE 15 MARKET CHALLENGES 24
FIGURE 16 MAJOR ECONOMIES OF WORLD 26
FIGURE 17 IMPACT OF DRIVERS 26
FIGURE 18 MARKET TRENDS 27
FIGURE 19 MACHINE CONDITION MONITORING MARKET, BY END USERS (USD MILLION) 31
FIGURE 20 POWER INDUSTRY MARKET, BY REGION (USD MILLION) 31
FIGURE 21 POWER INDUSTRY MARKET, BY REGION (USD MILLION) 32
FIGURE 22 SEGMENTATION OF POWER INDUSTRY BASED ON SOURCES OF ENERGY 32
FIGURE 23 OIL AND GAS INDUSTRY MARKET, BY REGION (USD MILLION) 34
FIGURE 24 CHEMICAL AND PETROCHEMICAL INDUSTRY MARKET, BY REGION (USD MILLION) 34
FIGURE 25 BROAD CLASSIFICATION OF CHEMICALS 35
FIGURE 26 PULP AND PAPER INDUSTRY MARKET, BY REGION (USD MILLION) 36
FIGURE 27 CEMENT INDUSTRY MARKET, BY REGION (USD MILLION) 38
FIGURE 28 STEEL AND METAL INDUSTRY MARKET, BY REGION (USD MILLION) 39
FIGURE 29 PHARMACEUTICAL INDUSTRY MARKET, BY REGION (USD MILLION) 40
FIGURE 30 AUTOMOTIVE INDUSTRY MARKET, BY REGION (USD MILLION) 42
FIGURE 31 FOOD AND BEVERAGE INDUSTRY MARKET, BY REGION (USD MILLION) 43
FIGURE 32 GLOBAL MACHINE CONDITION MONITORING MARKET, BY REGION 45
FIGURE 33 GLOBAL MACHINE CONDITION MONITORING MARKET: GEOGRAPHICAL SEGMENTATION 2016 AND 2023 45
FIGURE 34 NORTH AMERICA MACHINE CONDITION MONITORING MARKET, BY COUNTRY (USD MILLION) 46
FIGURE 35 NORTH AMERICA MACHINE CONDITION MONITORING MARKET, BY END USERS 48
FIGURE 36 EUROPE MACHINE CONDITION MONITORING MARKET, BY COUNTRY 49
FIGURE 37 EUROPE MACHINE CONDITION MONITORING MARKET, BY END USERS 51
FIGURE 38 ASIA PACIFIC MACHINE CONDITION MONITORING MARKET, BY COUNTRY 53
FIGURE 39 ASIA PACIFIC MACHINE CONDITION MONITORING MARKET, BY END USERS 54
FIGURE 40 POPULATION OF MAJOR INDUSTRIAL NATIONS IN ASIA-PACIFIC 2011-2014 (MILLIONS) 54
FIGURE 41 POPULATION 2015-2020: GLOBAL, CHINA, AND INDIA 54
FIGURE 42 PER CAPITA INCOME BY MAJOR INDUSTRIAL NATIONS IN ASIA-PACIFIC 2011-2014 ($) 56
FIGURE 43 REST OF THE WORLD MACHINE CONDITION MONITORING MARKET, BY END USERS 58
FIGURE 44 SALES STRUCTURE 59
FIGURE 45 EMERSON ELECTRIC REVENUE, 2014-2016 (USD BILLION) 61
FIGURE 46 REVENUE MARKET SHARE OF EMERSON ELECTRIC BY REGION 2015 61
FIGURE 47 GENERAL ELECTRIC REVENUE, 2014-2016 (USD BILLION) 64
FIGURE 48 REVENUE MARKET SHARE OF GES OIL AND GAS DIVISION BY REGION 2015 64
FIGURE 49 HONEYWELL INTERNATIONAL REVENUE, 2014-2016 (USD BILLION) 66
FIGURE 50 REVENUE MARKET SHARE OF HONEYWELL BY REGION 2015 66
FIGURE 51 ROCKWELL AUTOMATION REVENUE, 2014-2016 (USD BILLION) 70
FIGURE 52 REVENUE MARKET SHARE OF ROCKWELL AUTOMATION BY REGION 2015 70
FIGURE 53 TIMKEN REVENUE, 2014-2016 (USD BILLION) 72
FIGURE 54 FLIR SYSTEMS REVENUE, 2014-2016 (USD BILLION) 74
FIGURE 55 SKF REVENUE, 2014-2016 (USD BILLION) 77
FIGURE 56 NSK REVENUE, 2014-2016 (USD BILLION) 79
FIGURE 57 PARKER-HANNIFIN REVENUE, 2014-2016 (USD BILLION) 82
FIGURE 58 MTS SYSTEM CORPORATION (PARENT COMPANY OF PCB PIEZOTRONICS) REVENUE, 2014-2016 (USD BILLION) 84
FIGURE 59 HALMA REVENUE, 2014-2016 (USD BILLION) 85
FIGURE 60 NATIONAL INSTRUMENTS REVENUE, 2014-2016 (USD BILLION) 87
FIGURE 61 REVENUE MARKET SHARE OF NATIONAL INSTRUMENTS BY REGION 2015 87
FIGURE 62 SHINKAWA REVENUE, 2014-2016 (USD BILLION) 89

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