Vibration Monitoring Market Report, Size, Share, Analysis 2017 and Forecast to 2023
Sep 25, 2017
According to Stratistics MRC, the Global Vibration Monitoring Market is accounted for $1.12 billion in 2016 and is expected to reach $1.90 billion by 2023 growing at a CAGR of 7.8% during the forecast period.
Gaithersburg, Maryland, U.S. - September 25, 2017 /MarketersMedia/ —
Some of the driving factors such as growing demand for vibration monitoring through wireless systems, infiltration of smart factory, rising demand for applications and increasing awareness towards predictive maintenance are contributing for the market growth. On the contrary, unnecessary cost of maintenance and extra cost of retrofitting vibration monitoring solutions on existing machinery are some restraints hampering the market. Vibration monitoring systems are used for reducing the price of operation by maintenance cost and reducing the occurrences of unexpected outages. The usage of this equipment is growing at a wide range in various industrial applications owing to its capability to identify potential failures in advance of any machinery.
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Based on system type, embedded systems segment is anticipated to grow at a highest CAGR during the forecast period owing to increasing recognition for embedded systems in various industries for their capabilities and advantages.
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Depending on product, online vibration monitor segment held a larger share and is widely used in crucial plants that work constantly and are highly prone to defects. On the other hand, the major factors driving the portable devices include lesser investments and nature of mobile systems than that for the non-portable monitors.
By geography, North America commanded the largest market share due to increasing penetration of smart manufacturing in several industries which created a heavy demand for vibration monitor in this region.
Some of the key players in this market include Vibrosystm Inc., STI Vibration Monitoring Inc., SKF Ab, Schaeffler Technologies Ag & Co. Kg, Pruftechnik Dieter Busch Ag., Omron Corporation, Mistras Group Inc., Meggitt Plc, Honeywell International Inc., General Electric, Emerson Electric Co., Bruel & Kjaer Sound & Vibration, Measurement A/S, Analog Devices Inc., Te Connectivity Ltd., SPM Instrument Ab, Shinkawa Electric Co. Ltd., Rockwell Automation Inc., Pce Instruments Uk Ltd., National Instruments Corporation and Metrix Instrument Co. Lp.
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System Types Covered:
• Vibration Meters
• Embedded Systems
• Vibration Analyzers
Offerings Covered:
• Software
• Hardware
• Services
Products Covered:
• Non-Portable Devices
• Portable Devices
• Online Vibration Monitor
• Other Products
End Users Covered:
• Pulp and Paper
• Food and Beverages
• Automotive
• Metals and Mining
• Oil and Gas
• Marine
• Aerospace and Defense
• Chemicals
• Energy and Power
• Semiconductor and Electronics
• Cement
• Railways
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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About Stratistics MRC
We offer wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full Time Equivalent (FTE) services in the research world. We explore the market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.
Contact Info:
Name: James Lamb
Email: [email protected]
Organization: Stratistics Market Research Consulting Pvt Ltd
For more information, please visit http://www.strategymrc.com
Source: MarketersMedia
Release ID: 242560
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