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North America Machine Condition Monitoring Market Size, Share & Industry Trends Analysis Report By Offering, By Monitoring Technique, By Industry, By Deployment Type, By Monitoring Process, By Country and Growth Forecast, 2022 - 2028

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    Report

  • 106 Pages
  • May 2022
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5615654
The North America Machine Condition Monitoring Market is expected to witness market growth of 7.0% CAGR during the forecast period (2022-2028).

Extracting information directly from the machine control, employing digital and analogue I/O, or placing sensors on machines to collect and analyze information are all examples of machine control and sensor-based monitoring. Basic sensors are frequently thrown over or otherwise rendered inaccurate in manufacturing environments due to bumping, chemical or heat conditions, and so on. However, systems like the Machine Metrics High-Frequency Data Adapter, which plugs directly into the PLC and is resistant to shocks, tilts, flying metal shavings, and other hazardous circumstances, are less of a sensor in the classic sense. It also gathers data 1000 times faster than other sensors on the market. Because it enables remote machine monitoring and can employ cloud-based software to collect data, run analytics, create reports, and more, utilizing IoT takes machine condition monitoring to the next level. IoT also makes condition-based maintenance possible, frequently in real-time.

Factors such as the increased focus of manufacturing firms on optimal asset and resource utilization, strict regulatory requirements related to workplace and personnel safety, and strict quality control standards required to be followed by companies in the oil & gas, chemicals, and food & beverage industries are all driving demand for machine condition monitoring systems in North America.

The US has the highest share of the machine condition monitoring market due to a strong emphasis on effective plant asset management and the presence of key participants such as Emerson Electric, National Instruments, Honeywell International, General Electric, and Parker Hannifin are some of the most well-known companies internationally.

The tremendous increase in the use of automation technology in factories and the penetration of smart factories are undoubtedly contributing to market growth. Schneider Electric debuted its smart factory in the United States in June 2019, exhibiting the measurable, real-time benefits of breakthrough ecostruxure solutions. This factory primarily demonstrates IIoT integration techniques with End Users, Machine Builders, and Partners, which have resulted in a 20% reduction in the meantime to repair machinery.

The US market dominated the North America Machine Condition Monitoring Market by Country 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $870.9 million by 2028. The Canada market is experiencing a CAGR of 9.4% during (2022 - 2028). Additionally, The Mexico market is expected to exhibit a CAGR of 8.4% during (2022 - 2028).

Based on Offering, the market is segmented into Hardware and Software. Based on Monitoring Technique, the market is segmented into Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission Monitoring, and Others. Based on Industry, the market is segmented into Power Generation, Metals & Mining, Aerospace & Marine, Automotive, Oil & Gas, Food & Beverages, Chemicals, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Monitoring Process, the market is segmented into Online Condition Monitoring and Portable Condition Monitoring. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ALS Limited, Fortive Corporation (Fluke Corporation), Schaeffler AG, Honeywell International, Inc., Emerson Electric Co., Rockwell Automation, Inc., General Electric (GE) Co., Analog Devices, Inc., National Instruments Corporation, and Parker Hannifin Corporation.

Scope of the Study


Market Segments Covered in the Report:


By Offering

  • Hardware
  • Software

By Monitoring Technique

  • Vibration Monitoring
  • Thermography
  • Oil Analysis
  • Corrosion Monitoring
  • Ultrasound Emission Monitoring
  • Others

By Industry

  • Power Generation
  • Metals & Mining
  • Aerospace & Marine
  • Automotive
  • Oil & Gas
  • Food & Beverages
  • Chemicals
  • Others

By Deployment Type

  • On-premise
  • Cloud

By Monitoring Process

  • Online Condition Monitoring
  • Portable Condition Monitoring

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America

Key Market Players


List of Companies Profiled in the Report:

  • ALS Limited
  • Fortive Corporation (Fluke Corporation)
  • Schaeffler AG
  • Honeywell International, Inc.
  • Emerson Electric Co.
  • Rockwell Automation, Inc.
  • General Electric (GE) Co.
  • Analog Devices, Inc.
  • National Instruments Corporation
  • Parker Hannifin Corporation

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Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Machine Condition Monitoring Market, by Offering
1.4.2 North America Machine Condition Monitoring Market, by Monitoring Technique
1.4.3 North America Machine Condition Monitoring Market, by Industry
1.4.4 North America Machine Condition Monitoring Market, by Deployment Type
1.4.5 North America Machine Condition Monitoring Market, by Monitoring Process
1.4.6 North America Machine Condition Monitoring Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Machine Condition Monitoring Market by Offering
3.1 North America Hardware Market by Country
3.2 North America Software Market by Country
Chapter 4. North America Machine Condition Monitoring Market by Monitoring Technique
4.1 North America Vibration Monitoring Market by Country
4.2 North America Thermography Market by Country
4.3 North America Oil Analysis Market by Country
4.4 North America Corrosion Monitoring Market by Country
4.5 North America Ultrasound Emission Monitoring Market by Country
4.6 North America Others Market by Country
Chapter 5. North America Machine Condition Monitoring Market by Industry
5.1 North America Power Generation Market by Country
5.2 North America Metals & Mining Market by Country
5.3 North America Aerospace & Marine Market by Country
5.4 North America Automotive Market by Country
5.5 North America Oil & Gas Market by Country
5.6 North America Food & Beverages Market by Country
5.7 North America Chemicals Market by Country
5.8 North America Other Industry Market by Country
Chapter 6. North America Machine Condition Monitoring Market by Deployment Type
6.1 North America On-premise Market by Country
6.2 North America Cloud Market by Country
Chapter 7. North America Machine Condition Monitoring Market by Monitoring Process
7.1 North America Online Condition Monitoring Market by Country
7.2 North America Portable Condition Monitoring Market by Country
Chapter 8. North America Machine Condition Monitoring Market by Country
8.1 US Machine Condition Monitoring Market
8.1.1 US Machine Condition Monitoring Market by Offering
8.1.2 US Machine Condition Monitoring Market by Monitoring Technique
8.1.3 US Machine Condition Monitoring Market by Industry
8.1.4 US Machine Condition Monitoring Market by Deployment Type
8.1.5 US Machine Condition Monitoring Market by Monitoring Process
8.2 Canada Machine Condition Monitoring Market
8.2.1 Canada Machine Condition Monitoring Market by Offering
8.2.2 Canada Machine Condition Monitoring Market by Monitoring Technique
8.2.3 Canada Machine Condition Monitoring Market by Industry
8.2.4 Canada Machine Condition Monitoring Market by Deployment Type
8.2.5 Canada Machine Condition Monitoring Market by Monitoring Process
8.3 Mexico Machine Condition Monitoring Market
8.3.1 Mexico Machine Condition Monitoring Market by Offering
8.3.2 Mexico Machine Condition Monitoring Market by Monitoring Technique
8.3.3 Mexico Machine Condition Monitoring Market by Industry
8.3.4 Mexico Machine Condition Monitoring Market by Deployment Type
8.3.5 Mexico Machine Condition Monitoring Market by Monitoring Process
8.4 Rest of North America Machine Condition Monitoring Market
8.4.1 Rest of North America Machine Condition Monitoring Market by Offering
8.4.2 Rest of North America Machine Condition Monitoring Market by Monitoring Technique
8.4.3 Rest of North America Machine Condition Monitoring Market by Industry
8.4.4 Rest of North America Machine Condition Monitoring Market by Deployment Type
8.4.5 Rest of North America Machine Condition Monitoring Market by Monitoring Process
Chapter 9. Company Profiles
9.1 ALS Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.2 Fortive Corporation (Fluke Corporation)
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent Strategies and Developments
9.2.5.1 Partnerships, Collaborations and Agreements:
9.2.5.2 Acquisitions and Mergers:
9.3 Schaeffler AG
9.3.1 Company overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent Strategies and Developments
9.3.5.1 Partnerships, Collaborations and Agreements:
9.4 Honeywell International, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent Strategies and Developments
9.4.5.1 Acquisitions and Mergers:
9.5 Emerson Electric Co.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent Strategies and Developments
9.5.5.1 Partnerships, Collaborations and Agreements:
9.6 Rockwell Automation, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expenses
9.7 General Electric (GE) Co.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.8 Analog Devices, Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Research & Development Expenses
9.8.5 Recent Strategies and Developments
9.8.5.1 Acquisitions and Mergers:
9.9 National Instruments Corporation
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
9.9.4 Research & Development Expense
9.10. Parker Hannifin Corporation
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Research & Development Expenses

Companies Mentioned

  • ALS Limited
  • Fortive Corporation (Fluke Corporation)
  • Schaeffler AG
  • Honeywell International, Inc.
  • Emerson Electric Co.
  • Rockwell Automation, Inc.
  • General Electric (GE) Co.
  • Analog Devices, Inc.
  • National Instruments Corporation
  • Parker Hannifin Corporation

Methodology

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