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Global Machine Condition Monitoring Market, By Monitoring Technique: (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, and Others), By Monitoring Process (Online Condition Monitoring and Portable Condition Monitoring), By Industry (Oil & Gas, Power Generation, Metals & Mining, Automotive, Aerospace & Defense, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 - 2028

Monitoring of machine conditions has become crucial for any manufacturing industry. Machines used in different industries are designed to carry out most basic to complicated work for longer durations with precision. However, fault or breakdown of these machines results in a halt in the manufacturing process and sometimes cost heavy repairing charges to the company owner. Hence it is important to routinely carry out maintenance activity to hassle-free operations. Nowadays machine condition monitoring can be done by remote monitoring, this is one of the major factors driving the growth of the market. Remote monitoring of machine conditions offers several advantages over site-based monitoring, as it provides the ability to monitor machine conditions such as machine performance, current status, and behavior from distance. This reduces the unplanned downtime event and accelerates the service. Integration of Internet of Things (IoT) and cloud monitoring also supporting the penetration of remote monitoring in the machine condition monitoring market. The current COVID-19 pandemic condition is expected to affect the growth of the market mainly due to restrictions on the supply chain and a shortage of hardware such as sensors used in many applications.

The machine condition monitoring market is categorized based on monitoring technique, Monitoring Process, industry, and geography. Different monitoring techniques used to check machine conditions include vibration monitoring, thermography, oil analysis, corrosion monitoring, etc. these monitoring techniques are used by different processes such as online condition monitoring and portable condition monitoring. The demand for machine monitoring is high in oil & gas, power generation, metals & mining, automotive, aerospace & defense
Merger and acquisition is the key trend in the machine condition monitoring market. Key players operating in the industry are Meggitt PLC, SKF GROUP, Rockwell Automation, Inc., GE Bently Nevada, Honeywell International Inc., Emerson Electric Co, National Instrument Corporation, Bruel & Kjaer Sound and Vibration Measurement, Parker-Hannifin Corporation, and Motion Industries, Inc. among others.
 
Global Machine Condition Monitoring Market, By Monitoring Technique

Based on the monitoring technique the global machine condition monitoring market is bifurcated into the following
  • Vibration Monitoring
  • Thermography
  • Oil Analysis
  • Corrosion Monitoring
  • Others
Report Parameters Details of Parameter
Considered year for estimation 2021
Historical data 2015 – 2020
Forecast period covered 2021 – 2028
Segments covered Product Types, Applications, End-Users, Regions, Top Companies and more.
Top companies Meggitt PLC, SKF GROUP, Rockwell Automation, Inc., GE Bently Nevada, Honeywell International Inc., Emerson Electric Co, National Instrument Corporation, Bruel & Kjaer Sound and Vibration Measurement, Parker-Hannifin Corporation, and Motion Industries, Inc.
By monitoring technique Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Others
By monitoring process Online Condition Monitoring, Portable Condition Monitoring
Region covered North America, Europe, Asia Pacific, Latin America, Middle East, Africa and more

Below graph provides a comparative analysis of the value contribution for each of the segment for the years 2020 and 2028:

Global Global Machine Condition Monitoring Value Share, By Monitoring Technique, 2019 & 2028(% Value)


In 2020, oil analysis segment held the largest share by monitoring technique. The segment held around 25% of the share in the global market in 2020. Importance of oil levels for optimum machine performance driving the growth of the segment.
 
Global Machine Condition Monitoring Market, By Monitoring Process
Based on the monitoring process the global machine condition monitoring market is bifurcated into the following
  • Online Condition Monitoring
  • Portable Condition Monitoring
Below graph provides a comparative analysis of the value contribution for each of the segment for the years 2020 and 2028:

Global Global Machine Condition Monitoring Value Share, By Monitoring Process, 2019 & 2028(% Value)


In 2020, portable condition monitoring segment held the largest share of the market, the segment held around 64% share of the market in 2020. Whereas, online condition monitoring segment is expected to grow at rapid rate over the forecast period.
 
Global Machine Condition Monitoring Market, By Industry

Based on the industry the global machine condition monitoring market is bifurcated into the following
  • Oil & Gas
  • Power Generation
  • Metals & Mining
  • Automotive
  • Aerospace & Defense
  • Others
Below graph provides a comparative analysis of the value contribution for each of the segment for the years 2020 and 2028:

Global Global Machine Condition Monitoring Value Share, By Industry, 2019 & 2028(% Value)


In 2020, oil and gas segment held the largest share of the market, the segment held around 22% share of the market in 2020. Critical operations and complicated machineries used in oil and gas industry is expected to support the demand of machine monitoring market in this segment over the forecast period.

 
Global Machine Condition Monitoring Market, By Geography

Based on geography, the machine condition monitoring market is segmented into following:
  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Mexico
    • Brazil
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA

Below graph provides a comparative analysis of the value contribution for each of the segment for the years 2020 and 2028:

Global Global Machine Condition Monitoring Value Share, By Geography, 2019 & 2028(% Value)


In 2020, North America held the largest share in the machine condition monitoring market, and expected to register strong growth over the forecast period. Well-developed automobile, aerospace, defense, and oil & gas industry coupled with high automation contributing for the large share of the market. On the other side, rapidly growing industrialization in Asia pacific is expected to spur the demand of machine monitoring over the forecast period. Asia pacific is become global manufacturing hub, many end use industries are rapidly expanding their business in this region which is primarily driving the growth of machine condition monitoring market in Asia pacific.
Table of Content

Chapter 1 Preface
        1.1 Report Description
                1.1.1 Aim of the Report
                1.1.2 Report Target Audience
                1.1.3 Report Offering
        1.2 Research Scope
        1.3 Research Methodology
                1.3.1 Phase I – Secondary Research
                1.3.2 Phase II – Primary Research
                1.3.3 Phase III – Expert Panel Review
                1.3.4 Assumptions
                1.3.5 Top-Down and Bottom-Up Approach

Chapter 2 Executive Summary
        2.1 Market Snapshot: Global Machine Condition Monitoring Market
        2.2 Global Machine Condition Monitoring Market, By Monitoring Technique
        2.3 Global Machine Condition Monitoring Market, By Monitoring Process
        2.4 Global Machine Condition Monitoring Market, By End-use Industry
        2.5 Global Machine Condition Monitoring Market, By Geography

Chapter 3 Market Dynamics
        3.1 Product and Market Insights
                3.1.1 Global Machine Condition Monitoring Market Value and Growth, 2018 – 2028, (US$ Mn) (Y-o-Y %)
        3.2 Market Dynamics
                3.2.1 Growth Drivers
                3.2.2 Market Restraints
                3.2.3 Impact Analysis of Drivers and Restraints
                3.2.4 COVID-19 Impact
        3.3 Attractive Investment Proposition
        3.4 Competitive Analysis
                3.4.1 Competitive Landscape in the Machine Condition Monitoring Market

Chapter 4 Global Machine Condition Monitoring Market Analysis, By Monitoring Technique
        4.1 Overview
        4.2 Vibration Monitoring
                4.2.1 Global Vibration Monitoring Market Value, 2018 – 2028, (US$ Mn)
        4.3 Thermography
                4.3.1 Global Thermography Market Value, 2018 – 2028, (US$ Mn)
        4.4 Oil Analysis
                4.4.1 Global Oil Analysis Market Value, 2018 – 2028, (US$ Mn)
        4.5 Corrosion Monitoring
                4.5.1 Global Corrosion Monitoring Market Value, 2018 – 2028, (US$ Mn)
        4.6 Others
                4.6.1 Global Others Market Value, 2018 – 2028, (US$ Mn)

Chapter 5 Global Machine Condition Monitoring Market Analysis, By Monitoring Process
        5.1 Overview
        5.2 Online Condition Monitoring
                5.2.1 Global Online Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
        5.3 Portable Condition Monitoring
                5.3.1 Global Portable Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)

Chapter 6 Global Machine Condition Monitoring Market Analysis, By End-use Industry
        6.1 Overview
        6.2 Oil & Gas
                6.2.1 Global Oil & Gas Market Value, 2018 – 2028, (US$ Mn)
        6.3 Power Generation
                6.3.1 Global Power Generation Market Value, 2018 – 2028, (US$ Mn)
        6.4 Metals & Mining
                6.4.1 Global Metals & Mining Market Value, 2018 – 2028, (US$ Mn)
        6.5 Automotive
                6.5.1 Global Automotive Market Value, 2018 – 2028, (US$ Mn)
        6.6 Aerospace & Defense
                6.6.1 Global Aerospace & Defense Market Value, 2018 – 2028, (US$ Mn)
        6.7 Others
                6.7.1 Global Others Market Value, 2018 – 2028, (US$ Mn)

Chapter 7 North America Machine Condition Monitoring Market Analysis
        7.1 Overview
        7.2 North America Machine Condition Monitoring Market Analysis, By Monitoring Technique, 2018 – 2028
                7.2.1 Market Analysis
        7.3 North America Machine Condition Monitoring Market Analysis, By Monitoring Process, 2018 – 2028
                7.3.1 Market Analysis
        7.4 North America Machine Condition Monitoring Market Analysis, By End-use Industry, 2018 – 2028
                7.4.1 Market Analysis
        7.5 North America Machine Condition Monitoring Market Analysis, By Country, 2018 – 2028
                7.5.1 Market Analysis
                7.5.2 U.S.
                7.5.3 Canada

Chapter 8 Europe Machine Condition Monitoring Market Analysis
        8.1 Overview
        8.2 Europe Machine Condition Monitoring Market Analysis, By Monitoring Technique, 2018 – 2028
                8.2.1 Market Analysis
        8.3 Europe Machine Condition Monitoring Market Analysis, By Monitoring Process, 2018 – 2028
                8.3.1 Market Analysis
        8.4 Europe Machine Condition Monitoring Market Analysis, By End-use Industry, 2018 – 2028
                8.4.1 Market Analysis
        8.5 Europe Machine Condition Monitoring Market Analysis, By Country, 2018 – 2028
                8.5.1 Market Analysis
                8.5.2 UK
                8.5.3 Germany
                8.5.4 France
                8.5.5 Rest of Europe

Chapter 9 Asia Pacific Machine Condition Monitoring Market Analysis
        9.1 Overview
        9.2 Asia Pacific Machine Condition Monitoring Market Analysis, By Monitoring Technique, 2018 – 2028
                9.2.1 Market Analysis
        9.3 Asia Pacific Machine Condition Monitoring Market Analysis, By Monitoring Process, 2018 – 2028
                9.3.1 Market Analysis
        9.4 Asia Pacific Machine Condition Monitoring Market Analysis, By End-use Industry, 2018 – 2028
                9.4.1 Market Analysis
        9.5 Asia Pacific Machine Condition Monitoring Market Analysis, By Country, 2018 – 2028
                9.5.1 Market Analysis
                9.5.2 China
                9.5.3 Japan
                9.5.4 India
                9.5.5 Rest of Asia Pacific

Chapter 10 Latin America Machine Condition Monitoring Market Analysis
        10.1 Overview
        10.2 Latin America Machine Condition Monitoring Market Analysis, By Monitoring Technique, 2018 – 2028
                10.2.1 Market Analysis
        10.3 Latin America Machine Condition Monitoring Market Analysis, By Monitoring Process, 2018 – 2028
                10.3.1 Market Analysis
        10.4 Latin America Machine Condition Monitoring Market Analysis, By End-use Industry, 2018 – 2028
                10.4.1 Market Analysis
        10.5 Latin America Machine Condition Monitoring Market Analysis, By Country, 2018 – 2028
                10.5.1 Market Analysis
                10.5.2 Mexico
                10.5.3 Brazil
                10.5.4 Rest of Latin America

Chapter 11 Middle East and Africa (MEA) Machine Condition Monitoring Market Analysis
        11.1 Overview
        11.2 MEA Machine Condition Monitoring Market Analysis, By Monitoring Technique, 2018 – 2028
                11.2.1 Market Analysis
        11.3 MEA Machine Condition Monitoring Market Analysis, By Monitoring Process, 2018 – 2028
                11.3.1 Market Analysis
        11.4 MEA Machine Condition Monitoring Market Analysis, By End-use Industry, 2018 – 2028
                11.4.1 Market Analysis
        11.5 MEA Machine Condition Monitoring Market Analysis, By Country, 2018 – 2028
                11.5.1 Market Analysis
                11.5.2 GCC Countries
                11.5.3 South Africa
                11.5.4 Rest of MEA

Chapter 12 Company Profiles
        12.1 Meggitt PLC
                12.1.1 Meggitt PLC: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.2 Rockwell Automation, Inc
                12.2.1 Rockwell Automation, Inc: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.3 SKF GROUP
                12.3.1 SKF GROUP: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.4 GE Bently Nevada
                12.4.1 GE Bently Nevada: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.5 Emerson Electric Co
                12.5.1 Emerson Electric Co: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.6 Honeywell International Inc.
                12.6.1 Honeywell International Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.7 National Instrument Corporation
                12.7.1 National Instrument Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.8 Bruel & Kjaer Sound and Vibration Measurement
                12.8.1 Bruel & Kjaer Sound and Vibration Measurement: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.9 Parker-Hannifin Corporation
                12.9.1 Parker-Hannifin Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
        12.10 Motion Industries, Inc.
                12.10.1 Motion Industries, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)

List of Figures

FIG. 1 Global Machine Condition Monitoring Market: Research Methodology
FIG. 2 Top-Down and Bottom Up Approach
FIG. 3 Global Machine Condition Monitoring Market, By Monitoring Technique, 2020 (US$ Mn)
FIG. 4 Global Machine Condition Monitoring Market, By Monitoring Process, 2020 (US$ Mn)
FIG. 5 Global Machine Condition Monitoring Market, By End-use Industry, 2020 (US$ Mn)
FIG. 6 Global Machine Condition Monitoring Market, By Geography, 2020 (US$ Mn)
FIG. 7 Global Machine Condition Monitoring Market Value and Growth, 2018 – 2028, (US$ Mn) (Y-o-Y %)
FIG. 8 Attractive Investment Proposition
FIG. 9 Market Positioning of Key Machine Condition Monitoring Providers, 2020
FIG. 10 Global Machine Condition Monitoring Market Value Share, By Monitoring Technique, 2020 & 2028 (% Value)
FIG. 11 Global Vibration Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 12 Global Thermography Market Value, 2018 – 2028, (US$ Mn)
FIG. 13 Global Oil Analysis Market Value, 2018 – 2028, (US$ Mn)
FIG. 14 Global Corrosion Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 15 Global Others Market Value, 2018 – 2028, (US$ Mn)
FIG. 16 Global Machine Condition Monitoring Market Value Share, By Monitoring Process, 2020 & 2028 (% Value)
FIG. 17 Global Online Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 18 Global Portable Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 19 Global Machine Condition Monitoring Market Value Share, By End-use Industry, 2020 & 2028 (% Value)
FIG. 20 Global Oil & Gas Market Value, 2018 – 2028, (US$ Mn)
FIG. 21 Global Power Generation Market Value, 2018 – 2028, (US$ Mn)
FIG. 22 Global Metals & Mining Market Value, 2018 – 2028, (US$ Mn)
FIG. 23 Global Automotive Market Value, 2018 – 2028, (US$ Mn)
FIG. 24 Global Aerospace & Defense Market Value, 2018 – 2028, (US$ Mn)
FIG. 25 Global Others Market Value, 2018 – 2028, (US$ Mn)
FIG. 26 U.S. Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 27 Canada Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 28 UK Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 29 Germany Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 30 France Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 31 Rest of Europe Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 32 China Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 33 Japan Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 34 India Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 35 Rest of Asia Pacific Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 36 Mexico Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 37 Brazil Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 38 Rest of Latin America Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 39 GCC Countries Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 40 South Africa Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)
FIG. 41 Rest of MEA Machine Condition Monitoring Market Value, 2018 – 2028, (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global Machine Condition Monitoring Market
TABLE 2 Impact Pointers
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Machine Condition Monitoring Market Value, By Monitoring Technique, 2018 – 2028
TABLE 5 North America Machine Condition Monitoring Market Value, By Monitoring Process, 2018 – 2028
TABLE 6 North America Machine Condition Monitoring Market Value, By End-use Industry, 2018 – 2028
TABLE 7 North America Machine Condition Monitoring Market Value, By Country, 2018 – 2028
TABLE 8 Europe Machine Condition Monitoring Market Value, By Monitoring Technique, 2018 – 2028
TABLE 9 Europe Machine Condition Monitoring Market Value, By Monitoring Process, 2018 – 2028
TABLE 10 Europe Machine Condition Monitoring Market Value, By End-use Industry, 2018 – 2028
TABLE 11 Europe Machine Condition Monitoring Market Value, By Country, 2018 – 2028
TABLE 12 Asia Pacific Machine Condition Monitoring Market Value, By Monitoring Technique, 2018 – 2028
TABLE 13 Asia Pacific Machine Condition Monitoring Market Value, By Monitoring Process, 2018 – 2028
TABLE 14 Asia Pacific Machine Condition Monitoring Market Value, By End-use Industry, 2018 – 2028
TABLE 15 Asia Pacific Machine Condition Monitoring Market Value, By Country, 2018 – 2028
TABLE 16 Latin America Machine Condition Monitoring Market Value, By Monitoring Technique, 2018 – 2028
TABLE 17 Latin America Machine Condition Monitoring Market Value, By Monitoring Process, 2018 – 2028
TABLE 18 Latin America Machine Condition Monitoring Market Value, By End-use Industry, 2018 – 2028
TABLE 19 Latin America Machine Condition Monitoring Market Value, By Country, 2018 – 2028
TABLE 20 MEA Machine Condition Monitoring Market Value, By Monitoring Technique, 2018 – 2028
TABLE 21 MEA Machine Condition Monitoring Market Value, By Monitoring Process, 2018 – 2028
TABLE 22 MEA Machine Condition Monitoring Market Value, By End-use Industry, 2018 – 2028
TABLE 23 MEA Machine Condition Monitoring Market Value, By Country, 2018 – 2028
TABLE 24 Meggitt PLC: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 25 Rockwell Automation, Inc: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 26 SKF GROUP: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 27 GE Bently Nevada: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 28 Emerson Electric Co: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 29 Honeywell International Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 30 National Instrument Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 31 Bruel & Kjaer Sound and Vibration Measurement: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 32 Parker-Hannifin Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
TABLE 33 Motion Industries, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent News and Announcements)
No Methodology
No Available