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Machine Condition Monitoring Equipment - Global Market Trajectory & Analytics

  • ID: 338488
  • Report
  • July 2020
  • Region: Global
  • 250 Pages
  • Global Industry Analysts, Inc
Global Machine Condition Monitoring Equipment Market to Reach $3.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Machine Condition Monitoring Equipment estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027. Vibration Monitoring Equipment, one of the segments analyzed in the report, is projected to record a 4.6% CAGR and reach US$1.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thermography Equipment segment is readjusted to a revised 4.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $597.4 Million, While China is Forecast to Grow at 7.3% CAGR

The Machine Condition Monitoring Equipment market in the U.S. is estimated at US$597.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$619.9 Million by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Lubricating Oil Analysis Equipment Segment to Record 4.7% CAGR

In the global Lubricating Oil Analysis Equipment segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$181.8 Million in the year 2020 will reach a projected size of US$243.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$405.4 Million by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 250-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • 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

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Condition Based Maintenance Comes Out of the Shadows as Smart Management of Assets Spirals into the Spotlight

Recent Market Activity

Market Overview

From Corrective to Prescriptive, Machine Condition Monitoring Makes Its Evolutionary Turn Towards Smart Asset Management

Artificial Intelligence in Machine Condition Monitoring Gains Ground

Continued Recovery in Global GDP & Manufacturing PMI Promises Stronger Growth for the Machine Condition Monitoring Market

Ubiquity of Rotating Machinery in Industrial Plants Sustains the Dominance of Vibration Monitoring Systems

Even as the Oil Industry Regains Balance at the Back of Oil Price Rise & Supply Increases, Volatility Will Continue to Shape Strategy

Skyrocketing Oil Exploration Costs

Business Case for Operational Excellence Stands Exemplified

Outsourced Condition Monitoring Services to Gain Momentum

Growth of Precision Mechanics & the Ensuing Increase in the Use of Machine Tools to Benefit Condition Monitoring of Machine Tools

Market Outlook

Global Competitor Market Shares

Machine Condition Monitoring Equipment Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

ALS Limited (Australia)

Azima DLI LLC (USA)

Brüel & Kjær Vibro GmbH (Denmark)

ClampOn AS (Norway)

Cosasco (USA)

CRYSTAL INSTRUMENTS (USA)

CTRL Systems, Inc. (USA)

Data Physics Corporation (USA)

Emerson Electric Co. (USA)

FLIR Systems, Inc. (USA)

Fluke Corporation (USA)

General Electric (USA)

Honeywell Process Solutions (USA)

ITT Corporation (USA)

Meggitt PLC (UK)

National Instruments Corporation (USA)

Parker Hannifin Corp. (USA)

Parker Kittiwake (UK)

PCB Piezotronics, Inc. (USA)

Rockwell Automation, Inc. (USA)

Schaeffler Technologies AG & Co. KG (Germany)

Shinkawa Electric Co., Ltd. (Japan)

SKF (Sweden)

SPM Instrument AB (Sweden)

3. MARKET TRENDS & DRIVERS

Emergence of Industry 4.0 & IIoT as a Novel Support System for Intelligent Maintenance Drives Opportunities for Condition Monitoring

Growing Energy Consumption & Production Drives the Need for Condition Monitoring in Power Plants

Insatiable Need for Energy…

Changing Power Generation Dynamics & Rise of Peaking Power Plants

Technology Innovations to Support Long-Term Growth in the Market

Wireless Sensor Networks, Sensor Fusion & Multi-Sensor Monitoring: The Three Major Technology Buzzwords

"Maintenance from a Distance": The New Buzz Word for Prognostic Machine Health Monitoring

The Rise of Cloud Based Business Models Sparks a Revolution in Condition Monitoring

Integration of Condition Monitoring With Asset Management: A Key Strategy Aimed At Productivity Gains

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Machine Condition Monitoring Equipment Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 2: Machine Condition Monitoring Equipment Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2012-2019
TABLE 3: Machine Condition Monitoring Equipment Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Vibration Monitoring Equipment (Segment) World Market by Region/Country in US$ Thousand: 2020 to 2027
TABLE 5: Vibration Monitoring Equipment (Segment) Historic Market Analysis by Region/Country in US$ Thousand: 2012 to 2019
TABLE 6: Vibration Monitoring Equipment (Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Thermography Equipment (Segment) Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027
TABLE 8: Thermography Equipment (Segment) Historic Market Perspective by Region/Country in US$ Thousand: 2012 to 2019
TABLE 9: Thermography Equipment (Segment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Lubricating Oil Analysis Equipment (Segment) Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027
TABLE 11: Lubricating Oil Analysis Equipment (Segment) Region Wise Breakdown of Global Historic Demand in US$ Thousand: 2012 to 2019
TABLE 12: Lubricating Oil Analysis Equipment (Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
TABLE 13: Other Segments (Segment) World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2020 to 2027
TABLE 14: Other Segments (Segment) Market Historic Review by Region/Country in US$ Thousand: 2012 to 2019
TABLE 15: Other Segments (Segment) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Machine Condition Monitoring Equipment Market Share (in %) by Company: 2020 & 2025

Market Analytics
TABLE 16: United States Machine Condition Monitoring Equipment Market Estimates and Projections in US$ Thousand by Segment: 2020 to 2027
TABLE 17: Machine Condition Monitoring Equipment Market in the United States by Segment: A Historic Review in US$ Thousand for 2012-2019
TABLE 18: United States Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

CANADA

TABLE 19: Canadian Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020 to 2027
TABLE 20: Canadian Machine Condition Monitoring Equipment Historic Market Review by Segment in US$ Thousand: 2012-2019
TABLE 21: Machine Condition Monitoring Equipment Market in Canada: Percentage Share Breakdown of Sales by Segment for 2012, 2020, and 2027

JAPAN

TABLE 22: Japanese Market for Machine Condition Monitoring Equipment: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2020-2027
TABLE 23: Machine Condition Monitoring Equipment Market in Japan: Historic Sales Analysis in US$ Thousand by Segment for the Period 2012-2019
TABLE 24: Japanese Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

CHINA

TABLE 25: Chinese Machine Condition Monitoring Equipment Market Growth Prospects in US$ Thousand by Segment for the Period 2020-2027
TABLE 26: Machine Condition Monitoring Equipment Historic Market Analysis in China in US$ Thousand by Segment: 2012-2019
TABLE 27: Chinese Machine Condition Monitoring Equipment Market by Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

EUROPE

Market Facts & Figures

European Machine Condition Monitoring Equipment Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics
TABLE 28: European Machine Condition Monitoring Equipment Market Demand Scenario in US$ Thousand by Region/Country: 2020-2027
TABLE 29: Machine Condition Monitoring Equipment Market in Europe: A Historic Market Perspective in US$ Thousand by Region/Country for the Period 2012-2019
TABLE 30: European Machine Condition Monitoring Equipment Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 31: European Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020-2027
TABLE 32: Machine Condition Monitoring Equipment Market in Europe in US$ Thousand by Segment: A Historic Review for the Period 2012-2019
TABLE 33: European Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

FRANCE

TABLE 34: Machine Condition Monitoring Equipment Market in France by Segment: Estimates and Projections in US$ Thousand for the Period 2020-2027
TABLE 35: French Machine Condition Monitoring Equipment Historic Market Scenario in US$ Thousand by Segment: 2012-2019
TABLE 36: French Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

GERMANY

TABLE 37: Machine Condition Monitoring Equipment Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 38: German Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 39: German Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

ITALY

TABLE 40: Italian Machine Condition Monitoring Equipment Market Growth Prospects in US$ Thousand by Segment for the Period 2020-2027
TABLE 41: Machine Condition Monitoring Equipment Historic Market Analysis in Italy in US$ Thousand by Segment: 2012-2019
TABLE 42: Italian Machine Condition Monitoring Equipment Market by Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED KINGDOM

TABLE 43: United Kingdom Market for Machine Condition Monitoring Equipment: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2020-2027
TABLE 44: Machine Condition Monitoring Equipment Market in the United Kingdom: Historic Sales Analysis in US$ Thousand by Segment for the Period 2012-2019
TABLE 45: United Kingdom Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

SPAIN

TABLE 46: Spanish Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020 to 2027
TABLE 47: Spanish Machine Condition Monitoring Equipment Historic Market Review by Segment in US$ Thousand: 2012-2019
TABLE 48: Machine Condition Monitoring Equipment Market in Spain: Percentage Share Breakdown of Sales by Segment for 2012, 2020, and 2027

RUSSIA

TABLE 49: Russian Machine Condition Monitoring Equipment Market Estimates and Projections in US$ Thousand by Segment: 2020 to 2027
TABLE 50: Machine Condition Monitoring Equipment Market in Russia by Segment: A Historic Review in US$ Thousand for 2012-2019
TABLE 51: Russian Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

REST OF EUROPE

TABLE 52: Rest of Europe Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020-2027
TABLE 53: Machine Condition Monitoring Equipment Market in Rest of Europe in US$ Thousand by Segment: A Historic Review for the Period 2012-2019
TABLE 54: Rest of Europe Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

ASIA-PACIFIC

TABLE 55: Asia-Pacific Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 56: Machine Condition Monitoring Equipment Market in Asia-Pacific: Historic Market Analysis in US$ Thousand by Region/Country for the Period 2012-2019
TABLE 57: Asia-Pacific Machine Condition Monitoring Equipment Market Share Analysis by Region/Country: 2012 VS 2020 VS 2027
TABLE 58: Machine Condition Monitoring Equipment Market in Asia-Pacific by Segment: Estimates and Projections in US$ Thousand for the Period 2020-2027
TABLE 59: Asia-Pacific Machine Condition Monitoring Equipment Historic Market Scenario in US$ Thousand by Segment: 2012-2019
TABLE 60: Asia-Pacific Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

AUSTRALIA

TABLE 61: Machine Condition Monitoring Equipment Market in Australia: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 62: Australian Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 63: Australian Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

INDIA

TABLE 64: Indian Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020 to 2027
TABLE 65: Indian Machine Condition Monitoring Equipment Historic Market Review by Segment in US$ Thousand: 2012-2019
TABLE 66: Machine Condition Monitoring Equipment Market in India: Percentage Share Breakdown of Sales by Segment for 2012, 2020, and 2027

SOUTH KOREA

TABLE 67: Machine Condition Monitoring Equipment Market in South Korea: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 68: South Korean Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 69: Machine Condition Monitoring Equipment Market Share Distribution in South Korea by Segment: 2012 VS 2020 VS 2027

REST OF ASIA-PACIFIC

TABLE 70: Rest of Asia-Pacific Market for Machine Condition Monitoring Equipment: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2020-2027
TABLE 71: Machine Condition Monitoring Equipment Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ Thousand by Segment for the Period 2012-2019
TABLE 72: Rest of Asia-Pacific Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

LATIN AMERICA

TABLE 73: Latin American Machine Condition Monitoring Equipment Market Trends by Region/Country in US$ Thousand: 2020-2027
TABLE 74: Machine Condition Monitoring Equipment Market in Latin America in US$ Thousand by Region/Country: A Historic Perspective for the Period 2012-2019
TABLE 75: Latin American Machine Condition Monitoring Equipment Market Percentage Breakdown of Sales by Region/Country: 2012, 2020, and 2027
TABLE 76: Latin American Machine Condition Monitoring Equipment Market Growth Prospects in US$ Thousand by Segment for the Period 2020-2027
TABLE 77: Machine Condition Monitoring Equipment Historic Market Analysis in Latin America in US$ Thousand by Segment: 2012-2019
TABLE 78: Latin American Machine Condition Monitoring Equipment Market by Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

ARGENTINA

TABLE 79: Argentinean Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020-2027
TABLE 80: Machine Condition Monitoring Equipment Market in Argentina in US$ Thousand by Segment: A Historic Review for the Period 2012-2019
TABLE 81: Argentinean Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

BRAZIL

TABLE 82: Machine Condition Monitoring Equipment Market in Brazil by Segment: Estimates and Projections in US$ Thousand for the Period 2020-2027
TABLE 83: Brazilian Machine Condition Monitoring Equipment Historic Market Scenario in US$ Thousand by Segment: 2012-2019
TABLE 84: Brazilian Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

MEXICO

TABLE 85: Machine Condition Monitoring Equipment Market in Mexico: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 86: Mexican Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 87: Mexican Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

REST OF LATIN AMERICA

TABLE 88: Rest of Latin America Machine Condition Monitoring Equipment Market Estimates and Projections in US$ Thousand by Segment: 2020 to 2027
TABLE 89: Machine Condition Monitoring Equipment Market in Rest of Latin America by Segment: A Historic Review in US$ Thousand for 2012-2019
TABLE 90: Rest of Latin America Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

MIDDLE EAST

TABLE 91: The Middle East Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 92: Machine Condition Monitoring Equipment Market in the Middle East by Region/Country in US$ Thousand: 2012-2019
TABLE 93: The Middle East Machine Condition Monitoring Equipment Market Share Breakdown by Region/Country: 2012, 2020, and 2027
TABLE 94: The Middle East Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020 to 2027
TABLE 95: The Middle East Machine Condition Monitoring Equipment Historic Market by Segment in US$ Thousand: 2012-2019
TABLE 96: Machine Condition Monitoring Equipment Market in the Middle East: Percentage Share Breakdown of Sales by Segment for 2012,2020, and 2027

IRAN

TABLE 97: Iranian Market for Machine Condition Monitoring Equipment: Annual Sales Estimates and Projections in US$ Thousand by Segment for the Period 2020-2027
TABLE 98: Machine Condition Monitoring Equipment Market in Iran: Historic Sales Analysis in US$ Thousand by Segment for the Period 2012-2019
TABLE 99: Iranian Machine Condition Monitoring Equipment Market Share Analysis by Segment: 2012 VS 2020 VS 2027

ISRAEL

TABLE 100: Israeli Machine Condition Monitoring Equipment Market Estimates and Forecasts in US$ Thousand by Segment: 2020-2027
TABLE 101: Machine Condition Monitoring Equipment Market in Israel in US$ Thousand by Segment: A Historic Review for the Period 2012-2019
TABLE 102: Israeli Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

SAUDI ARABIA

TABLE 103: Saudi Arabian Machine Condition Monitoring Equipment Market Growth Prospects in US$ Thousand by Segment for the Period 2020-2027
TABLE 104: Machine Condition Monitoring Equipment Historic Market Analysis in Saudi Arabia in US$ Thousand by Segment: 2012-2019
TABLE 105: Saudi Arabian Machine Condition Monitoring Equipment Market by Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED ARAB EMIRATES

TABLE 106: Machine Condition Monitoring Equipment Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 107: United Arab Emirates Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 108: Machine Condition Monitoring Equipment Market Share Distribution in United Arab Emirates by Segment: 2012 VS 2020 VS 2027

REST OF MIDDLE EAST

TABLE 109: Machine Condition Monitoring Equipment Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Thousand by Segment for the Period 2020-2027
TABLE 110: Rest of Middle East Machine Condition Monitoring Equipment Historic Market Analysis in US$ Thousand by Segment: 2012-2019
TABLE 111: Rest of Middle East Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

AFRICA

TABLE 112: African Machine Condition Monitoring Equipment Market Estimates and Projections in US$ Thousand by Segment: 2020 to 2027
TABLE 113: Machine Condition Monitoring Equipment Market in Africa by Segment: A Historic Review in US$ Thousand for 2012-2019
TABLE 114: African Machine Condition Monitoring Equipment Market Share Breakdown by Segment: 2012 VS 2020 VS 2027

IV. COMPETITION

Total Companies Profiled: 106

Note: Product cover images may vary from those shown
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