|
|
 |
|
Viewing report
|
|
|
|
World Condition Monitoring Equipment Market
Frost & Sullivan, June 2011, Pages: 104
Frost & Sullivan's recent analysis of the condition monitoring equipment market indicates that the industry is on an upswing, aided by recovery of key end-user markets and an industry-wide recognition of the cost-saving benefits of condition monitoring programs. While 2007 and 2008 were widely considered as one of the best years for the condition monitoring , like most other industries, the global condition monitoring equipment market went through a period of uncertainty and downsizing, due to the economic downturn. It, however, also served as a tool to reemphasize the importance of production and operational efficiency.
- The economic crisis of 2008-2009 had a considerable impact on the revenue of the global condition monitoring equipment market. Revenue declined in 2009 because several infrastructure projects were postponed to the following year and end users were forced to cut down on maintenance budgets.
- The market recovered significantly in 2010 with most end-user industries looking to invest in predictive maintenance programs. Demand from traditional markets, such as process/manufacturing and energy, as well as renewable energy and mining drove demand for condition monitoring in 2010.
- The vibration monitoring product segment continued to dominate market revenue in the overall condition monitoring market. Application and revenue for thermography and lubricating oil analysis equipment are also expected to grow at a steady pace during the forecast period.
Regional Trends
- North America was the largest market in terms of revenue contribution for the condition monitoring market in 2010, driven mainly by demand from oil, gas and energy end-user segments.
- Asia Pacific and other emerging economies are expected to drive demand for condition monitoring solutions in the long term of the forecast period. The rapid rate of infrastructure development, in addition to the growing need for improved transportation, water and power, is expected to sustain demand for all types of condition monitoring solutions.
End-user Trends
- The traditionally strong markets such as oil, gas, petrochemical, energy, and process industries are expected to remain the biggest users of condition monitoring equipment. The stringent safety requirements of these industries require continuous monitoring to warn against potential machine failure.
- As renewable energy takes on greater importance for power generation and use, testing and monitoring of nuclear facilities, wind and solar farms, and hydroelectric power plants are expected to drive future revenue growth opportunities.
Product Trends
- There is a distinct trend toward predictive maintenance within industrial and manufacturing facilities. In the wake of the global downturn, companies have realized the importance of enhancing productivity and asset optimization.
- As such, the online vibration market is expected to grow at faster pace than the portables market. Demand for portable vibration is expected to remain steady, driven mainly by the need for a cost-effective solution in Asia Pacific. This is offset, however, by the lack of experienced maintenance personnel and the cost of hiring vibration experts.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
