Quick Summary:
In the increasingly competitive and technology-driven world of modern industries, the infusion of machine condition monitoring equipment is quickly becoming indispensable. This technology represents an intelligent investment that can result in significant cost savings, increased operational efficiency, and the prevention of catastrophic equipment failures. Our comprehensive research report on the Global Machine Condition Monitoring Equipment Market provides an unprecedented opportunity to gain valuable insights into this prosperous market, which is projected to reach $5.1 billion by 2030.
Our in-depth analysis elucidates concrete data for robust decision-making and strategic planning. The report breaks down segment performances, identifies competitive business landscape, and deciphers geographic market trends. Specifically, it sheds light on potential high-growth regions such as China, the world's second largest economy predicted to reach a projected market size of $1.2 billion by 2030. Advantageously, this research tool also offers access to a digital archive, research platform, and complimentary updates for one year. Secure your business growth prospects and lead your company through informed decisions with our unparalleled market research report.
Global Machine Condition Monitoring Equipment Market to Reach $5.1 Billion by 2030
The global market for Machine Condition Monitoring Equipment estimated at US$2.7 Billion in the year 2022, is projected to reach a revised size of US$5.1 Billion by 2030, growing at a CAGR of 8.2% over the analysis period 2022-2030. Vibration Monitoring Equipment, one of the segments analyzed in the report, is projected to record 8.4% CAGR and reach US$2.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Thermography Equipment segment is readjusted to a revised 8.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $731.8 Million, While China is Forecast to Grow at 12.7% CAGR
The Machine Condition Monitoring Equipment market in the U.S. is estimated at US$731.8 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 7.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.Select Competitors (Total 103 Featured) -
- ALS Limited
- Azima DLI LLC
- Brüel & Kjær Vibro
- ClampOn AS
- Cosasco
- Crystal Instruments
- CTRL Systems, Inc.
- Data Physics Corporation
- Emerson Electric Co.,
- FLIR Systems, Inc.
- Fluke Corporation
- General Electric
- Honeywell Process Solutions
- ITT Corporation
- Meggitt PLC
- National Instruments Corporation
- Parker Hannifin Corp.
- Parker Kittiwake
- PCB Piezotronics, Inc.
- Rockwell Automation, Inc.
- Schaeffler Technologies AG & Co. KG
- Shinkawa Electric Co., Ltd.
- SKF
- SPM Instrument AB
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
What is the estimated value of the Global Market for Machine Condition Monitoring Equipment?
What is the growth rate of the Global Market for Machine Condition Monitoring Equipment?
What is the forecasted size of the Global Market for Machine Condition Monitoring Equipment?
Who are the key companies in the Global Market for Machine Condition Monitoring Equipment?
| Report Attribute | Details |
|---|---|
| No. of Pages | 304 |
| Published | December 2023 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 2.4 Billion |
| Forecasted Market Value ( USD | $ 4 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- ALS Limited
- Azima DLI LLC
- Brüel & Kjær Vibro
- ClampOn AS
- Cosasco
- Crystal Instruments
- CTRL Systems, Inc.
- Data Physics Corporation
- Emerson Electric Co.,
- FLIR Systems, Inc.
- Fluke Corporation
- General Electric
- Honeywell Process Solutions
- ITT Corporation
- Meggitt PLC
- National Instruments Corporation
- Parker Hannifin Corp.
- Parker Kittiwake
- PCB Piezotronics, Inc.
- Rockwell Automation, Inc.
- Schaeffler Technologies AG & Co. KG
- Shinkawa Electric Co., Ltd.
- SKF
- SPM Instrument AB
