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Global Motor Monitoring Market by Technology (Current Signature Analysis, Electric Discharge Current Measurement, Motor Current Monitoring), Monitoring Process (Online Motor Monitoring, Portable Motor Monitoring), Offering, Deployment, End-Use - Forecast 2024-2030

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    Report

  • 185 Pages
  • March 2024
  • Region: Global
  • 360iResearch™
  • ID: 4968806
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The Motor Monitoring Market size was estimated at USD 2.87 billion in 2023, USD 3.10 billion in 2024, and is expected to grow at a CAGR of 8.43% to reach USD 5.06 billion by 2030.

Motor monitoring refers to the process of continuously analyzing the performance and condition of electric motors in industrial settings. It involves using various sensors and devices that collect data on parameters such as vibration, temperature, current, voltage, and power quality. This data is then analyzed to assess the health of the motor and predict potential failures before they occur. Integrating the Internet of Things (IoT) in industrial devices has allowed for more sophisticated and real-time monitoring capabilities. As industries look to reduce maintenance costs and prevent unplanned downtimes, demand for advanced monitoring increases. Stringent energy consumption and reliability standards encourage investment in efficient monitoring systems. However, the cost of setting up advanced monitoring systems can be a barrier for small to medium-sized enterprises (SMEs), and integration of new systems with existing equipment and processes can challenge companies and require specialized skills. Market players work on developing wireless sensor networks for monitoring, which can reduce installation costs and enhance connectivity. They are also developing monitoring systems that consume less power and are more sustainable.

Regional Insights

The use of motor monitoring in the Americas is largely driven by mature industries such as manufacturing, energy, and utilities that demand high reliability and efficiency in their operations. North America, in particular, is home to several leading motor monitoring system manufacturers. These companies are known for their technological advancements and have a significant share in global markets. The Asia-Pacific region is experiencing rapid industrial growth, leading to increased adoption of motor monitoring systems, particularly in China and India. The demand is also driven by a growing focus on energy efficiency and the need to comply with strict environmental regulations. Asia-Pacific is witnessing a surge in the local production of motor monitoring systems, fueled by the booming industrial sector and local market demands. Countries such as Japan and South Korea are at the forefront of producing advanced motor monitoring technologies. In EMEA, motor monitoring is widely used across various sectors with a high focus on innovation and adherence to stringent European standards. Energy conservation directives and the Industry 4.0 movement are key drivers of motor monitoring adoption in this region. Europe is a strong hub for producing motor monitoring systems, with German engineering often setting the standard for quality and innovation. The region's manufacturers are known for their focus on sustainable and smart technologies.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Motor Monitoring Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Motor Monitoring Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Motor Monitoring Market, highlighting leading vendors and their innovative profiles. These include AB SKF, ABB Ltd., Advantech Co., Ltd., ALS Limited, Analog Devices, Inc., Artesis, Baker Hughes Company, Balluff GmbH, Banner Engineering Corp., Dynapar Corporation, Eaton Corporation PLC, Emerson Electric Co., Fluke Corporation, General Electric Company, Honeywell International Inc., IFM Electronic GmbH, Infoteam Group, International Business Machines Corporation, KCF Technologies, Inc., KONCAR - Electrical Engineering Institute Ltd., Megger Group Limited, Mitsubishi Electric Corporation, Murata Manufacturing Co. Ltd., Omron Corporation, PdMA Corporation, Phoenix Contact, Qualitrol Corp., Robert Bosch GmbH, Rockwell Automation, Inc., Schaeffler Technologies AG & Co. KG, Schneider Electric SE, Siemens AG, TDK Corporation, TE Connectivity Ltd., Texas Instruments Incorporated, and WEG S.A.

Market Segmentation & Coverage

This research report categorizes the Motor Monitoring Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Technology
    • Current Signature Analysis
    • Electric Discharge Current Measurement
    • Motor Current Monitoring
    • Oil Analysis
    • Speed & Sound Measurement
    • Thermal Monitoring
    • Vibration Analysis
  • Monitoring Process
    • Online Motor Monitoring
    • Portable Motor Monitoring
  • Offering
    • Hardware
    • Services
    • Software
  • Deployment
    • On-Cloud
    • On-Premise
  • End-Use
    • Aerospace
    • Automotive
    • Energy & Power
    • Manufacturing
    • Mining
    • Oil & Gas
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

  1. What is the market size and forecast of the Motor Monitoring Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Motor Monitoring Market?
  3. What are the technology trends and regulatory frameworks in the Motor Monitoring Market?
  4. What is the market share of the leading vendors in the Motor Monitoring Market?
  5. Which modes and strategic moves are suitable for entering the Motor Monitoring Market?

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Frequently Asked Questions about the Global Motor Monitoring Market

What is the estimated value of the Global Motor Monitoring Market?

The Global Motor Monitoring Market was estimated to be valued at $3.1 Billion in 2024.

What is the growth rate of the Global Motor Monitoring Market?

The growth rate of the Global Motor Monitoring Market is 8.4%, with an estimated value of $5.06 Billion by 2030.

What is the forecasted size of the Global Motor Monitoring Market?

The Global Motor Monitoring Market is estimated to be worth $5.06 Billion by 2030.

Who are the key companies in the Global Motor Monitoring Market?

Key companies in the Global Motor Monitoring Market include AB SKF, ABB Ltd., Advantech Co., Ltd., ALS Limited, Analog Devices, Inc., Artesis, Baker Hughes Company, Balluff GmbH, Banner Engineering Corp. and Dynapar Corporation.

Table of Contents

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Motor Monitoring Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Government initiatives promoting Industry 4.0 and robotic automation
5.1.1.2. Adoption of monitoring systems to improve the energy efficiency of motors
5.1.1.3. Emphasis on safety of motors in the oil & gas sectors
5.1.2. Restraints
5.1.2.1. Technical limitations and integration issues of motor monitoring systems
5.1.3. Opportunities
5.1.3.1. Advancements in IoT and connectivity in motor monitoring
5.1.3.2. Expansion of renewable energy systems worldwide
5.1.4. Challenges
5.1.4.1. Concerns associated with data privacy and security breaches
5.2. Market Segmentation Analysis
5.2.1. Technology: Potential of motor monitoring systems to conduct vibration analysis to check imbalance, misalignment, or bearing faults
5.2.2. Monitoring Process: Preference for online monitoring to prevent unscheduled downtime and prolonging motor lifespan
5.2.3. Offering: Availability of automated alerting mechanisms that notify maintenance personnel about motor performance
5.2.4. End-Use: Need for effective monitoring to anticipate failures and manage peak loads in the manufacturing sectors
5.2.5. Deployment: Adoption of on-cloud monitoring to attain improved scalability
5.3. Market Trend Analysis
5.3.1. Increasing market growth potential in the Americas region due to the rising focus on predictive maintenance and supportive industrial automation infrastructure
5.3.2. Motor monitoring demand in the Asia-Pacific region is driven by industrial growth, infrastructure development, and an increasing focus on energy efficiency and preventive maintenance
5.3.3. Strong presence of well-established companies offering innovative motor monitoring solutions to support the booming industry 4.0 activities
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Motor Monitoring Market, by Technology
6.1. Introduction
6.2. Current Signature Analysis
6.3. Electric Discharge Current Measurement
6.4. Motor Current Monitoring
6.5. Oil Analysis
6.6. Speed & Sound Measurement
6.7. Thermal Monitoring
6.8. Vibration Analysis
7. Motor Monitoring Market, by Monitoring Process
7.1. Introduction
7.2. Online Motor Monitoring
7.3. Portable Motor Monitoring
8. Motor Monitoring Market, by Offering
8.1. Introduction
8.2. Hardware
8.3. Services
8.4. Software
9. Motor Monitoring Market, by Deployment
9.1. Introduction
9.2. On-Cloud
9.3. On-Premise
10. Motor Monitoring Market, by End-Use
10.1. Introduction
10.2. Aerospace
10.3. Automotive
10.4. Energy & Power
10.5. Manufacturing
10.6. Mining
10.7. Oil & Gas
11. Americas Motor Monitoring Market
11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States
12. Asia-Pacific Motor Monitoring Market
12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam
13. Europe, Middle East & Africa Motor Monitoring Market
13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom
14. Competitive Landscape
14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
14.3.1. Merger & Acquisition
14.3.1.1. Fluke Reliability Acquires AI-Powered Vibration Analytics and Remote Condition Monitoring Solution
14.3.1.2. WEG Acquires Total Shares of Birmind
14.3.1.3. Regal Rexnord Corporation Completes Acquisition of Altra Industrial Motion Corp.
14.3.1.4. Schaeffler Buys French Condition-Monitoring Specialist
14.3.2. Agreement, Collaboration, & Partnership
14.3.2.1. Balluff BCS Series Capacitive Proximity Sensors from AutomationDirect
14.3.2.2. Komatsu and Cummins Partner to Create an Integrated Approach to Equipment and Engine Monitoring to Optimize Maintenance for Mines
14.3.3. New Product Launch & Enhancement
14.3.3.1. Condition Monitoring Technology from Banner Engineering Enables Effortless Predictive Maintenance
14.3.3.2. Dynapar Launches New Programmable Encoder, HS35iQ with PulseIQ Technology, Providing Troubleshooting Intelligence and Downtime Prevention via Specific Fault Alerts
14.3.3.3. Omron to Release K7DD-PQ Series of Advanced Motor Condition Monitoring Devices
14.3.3.4. Advantech Releases New Explosion Proof LoRaWAN Wireless
14.3.4. Award, Recognition, & Expansion
14.3.4.1. Schneider Electric Unveils Latest Texas Manufacturing Plant as Part of a USD 300 Million Investment in U.S. Manufacturing
15. Competitive Portfolio
15.1. Key Company Profiles
15.1.1. AB SKF
15.1.2. ABB Ltd.
15.1.3. Advantech Co., Ltd.
15.1.4. ALS Limited
15.1.5. Analog Devices, Inc.
15.1.6. Artesis
15.1.7. Baker Hughes Company
15.1.8. Balluff GmbH
15.1.9. Banner Engineering Corp.
15.1.10. Dynapar Corporation
15.1.11. Eaton Corporation PLC
15.1.12. Emerson Electric Co.
15.1.13. Fluke Corporation
15.1.14. General Electric Company
15.1.15. Honeywell International Inc.
15.1.16. IFM Electronic GmbH
15.1.17. Infoteam Group
15.1.18. International Business Machines Corporation
15.1.19. KCF Technologies, Inc.
15.1.20. KONCAR - Electrical Engineering Institute Ltd.
15.1.21. Megger Group Limited
15.1.22. Mitsubishi Electric Corporation
15.1.23. Murata Manufacturing Co. Ltd.
15.1.24. Omron Corporation
15.1.25. PdMA Corporation
15.1.26. Phoenix Contact
15.1.27. Qualitrol Corp.
15.1.28. Robert Bosch GmbH
15.1.29. Rockwell Automation, Inc.
15.1.30. Schaeffler Technologies AG & Co. KG
15.1.31. Schneider Electric SE
15.1.32. Siemens AG
15.1.33. TDK Corporation
15.1.34. TE Connectivity Ltd.
15.1.35. Texas Instruments Incorporated
15.1.36. WEG S.A.
15.2. Key Product Portfolio
16. Appendix
16.1. Discussion Guide
16.2. License & Pricing
List of Figures
FIGURE 1. MOTOR MONITORING MARKET RESEARCH PROCESS
FIGURE 2. MOTOR MONITORING MARKET SIZE, 2023 VS 2030
FIGURE 3. MOTOR MONITORING MARKET SIZE, 2019-2030 (USD MILLION)
FIGURE 4. MOTOR MONITORING MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. MOTOR MONITORING MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. MOTOR MONITORING MARKET DYNAMICS
FIGURE 7. MOTOR MONITORING MARKET SIZE, BY TECHNOLOGY, 2023 VS 2030 (%)
FIGURE 8. MOTOR MONITORING MARKET SIZE, BY TECHNOLOGY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. MOTOR MONITORING MARKET SIZE, BY MONITORING PROCESS, 2023 VS 2030 (%)
FIGURE 10. MOTOR MONITORING MARKET SIZE, BY MONITORING PROCESS, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. MOTOR MONITORING MARKET SIZE, BY OFFERING, 2023 VS 2030 (%)
FIGURE 12. MOTOR MONITORING MARKET SIZE, BY OFFERING, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. MOTOR MONITORING MARKET SIZE, BY DEPLOYMENT, 2023 VS 2030 (%)
FIGURE 14. MOTOR MONITORING MARKET SIZE, BY DEPLOYMENT, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. MOTOR MONITORING MARKET SIZE, BY END-USE, 2023 VS 2030 (%)
FIGURE 16. MOTOR MONITORING MARKET SIZE, BY END-USE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. AMERICAS MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. AMERICAS MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. UNITED STATES MOTOR MONITORING MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 20. UNITED STATES MOTOR MONITORING MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. ASIA-PACIFIC MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 22. ASIA-PACIFIC MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. EUROPE, MIDDLE EAST & AFRICA MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 24. EUROPE, MIDDLE EAST & AFRICA MOTOR MONITORING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 25. MOTOR MONITORING MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 26. MOTOR MONITORING MARKET SHARE, BY KEY PLAYER, 2023

Companies Mentioned

  • AB SKF
  • ABB Ltd.
  • Advantech Co., Ltd.
  • ALS Limited
  • Analog Devices, Inc.
  • Artesis
  • Baker Hughes Company
  • Balluff GmbH
  • Banner Engineering Corp.
  • Dynapar Corporation
  • Eaton Corporation PLC
  • Emerson Electric Co.
  • Fluke Corporation
  • General Electric Company
  • Honeywell International Inc.
  • IFM Electronic GmbH
  • Infoteam Group
  • International Business Machines Corporation
  • KCF Technologies, Inc.
  • KONČAR - Electrical Engineering Institute Ltd.
  • Megger Group Limited
  • Mitsubishi Electric Corporation
  • Murata Manufacturing Co. Ltd.
  • Omron Corporation
  • PdMA Corporation
  • Phoenix Contact
  • Qualitrol Corp.
  • Robert Bosch GmbH
  • Rockwell Automation, Inc.
  • Schaeffler Technologies AG & Co. KG
  • Schneider Electric SE
  • Siemens AG
  • TDK Corporation
  • TE Connectivity Ltd.
  • Texas Instruments Incorporated
  • WEG S.A.

Methodology

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