Condition Monitoring and Maintenance Services Market: By Types; By Component; By Application & By Geography - Forecast 2017-2022

Condition Monitoring is a technique used to detect the condition of a machine or its different components. Condition monitoring decides the maintenance of the machine by monitoring its condition; thus increasing the efficiency of the assets and time for repair. Monitoring a system include non-invasive measurement, visual checkup, performance data and programmed investigation. It indicates the sign of decreasing performance or emergency shutdowns; thereby prevents complete system failure of the industry. It is a preventive maintenance method as it concludes equipment status before a breakdown occurs.

The global condition monitoring and maintenance services market is estimated to reach $XXbn in 2022, growing CAGR of XX% during the forecast period from $XXbn in 2016. With the increasing penetration of preventive maintenance, particularly in various process industries such as wind power, chemical, oil and gas and so on are likely to propel the market for condition monitoring.

The report ‘Condition Monitoring and Maintenance Services Market’ includes expert insights along with an in-depth analysis of various technological and commercial factors. This report provides a vivid study of condition monitoring based on its types which includes vibration analysis, lubricant analysis and acoustic emission among others. This is subsequently followed by market segmentation based on components that comprises of ultrasound detector, vibration sensor, corrosion probes and others.

The condition monitoring and maintenance services market has also been analyzed based on various end user industries which include Aerospace, Marine, Automotive and several others. The geographic regions comprises of Americas, Europe, Asia-Pacific (APAC) and Rest of the World (RoW) that are further categorized into prominent countries possessing a notable market for Condition Monitoring and Maintenance Services.

Americas is held the largest market share, and it comprises of countries, such as the U.S., Mexico, Canada, Brazil and Argentina. The U.S. is a major driving factor for the market growth, considering the upgraded and advanced technology and high scale deployment of conditioning systems in various applications. Germany is the leading contributor of condition monitoring in Europe, followed France and U.K. However, APAC growth seems quite promising owing to the presence of various process automation industries in the emerging countries such as China, India.

Major players in the global condition monitoring and maintenance services market are Azima DLI Corp. (U.S.), Bruel & Kjaer Sound & Vibration Measurement A/S (Denmark), Emerson Process Management (U.S), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Parker Hannifin (U.S.), National Instruments Corporation (U.S.), Rockwell Automation, Inc. (U.S.), SKF (Sweden), and Fluke Corporation (U.S.). Some of the significant developments adopted by the market players are mergers, partnerships, collaborations and business expansion.