GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET INTRODUCTION

Objectives of the study

Market definition

Market scope

Stakeholders

Limitations

Summary of changes

RESEARCH METHODOLOGY

Research data

Secondary data

Primary data

Market size estimation

Market breakdown & data triangulation

Market share analysis

Risk assessment/limitations

Assessment of the impact of covid-19 on the economic scenario

EXECUTIVE SUMMARY

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET OUTLOOK / MARKET OVERVIEW

Introduction

Market dynamics

Market drivers

Significance of remote operations owing to spread of COVID-19

Advent of secure cloud computing platforms used for machine condition monitoring

Adoption of wireless communication technology in machine condition monitoring

Inclination toward predictive maintenance of industrial machinery

Deployment of automated condition monitoring technologies in smart factories

Realization of benefits of condition monitoring systems by manufacturers across the world

Countries

Market restraints

Reliability issues in prediction capabilities of machine condition monitoring systems

Lack of trained technical resources for data analysis

Opportunities

Emergence of machine learning and big data analytics

Strategic partnerships and collaborations among different market players

Advent of Industrial Internet of Things (IIoT) to unfold new growth avenues

Challenges

Difficulty in accessing expertise at remote locations

Additional expenses and difficulties faced during retrofitting of existing systems

Integration of machine condition monitoring systems with other maintenance systems

Decline in global demand for oil and gas owing to COVID-19

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET INDUSTRY INSIGHTS

Introduction

Industry trends

Strategic benchmarking

Species priorities and breeding objectives, by region

Pricing analysis

Value chain analysis

Ecosystem analysis

Patent analysis

Trade analysis

IMPACT OF COVID-19 ON THE GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET, BY MONITORING TECHNIQUES

Vibration Monitoring

Thermography

Oil Analysis

Corrosion Monitoring

Ultrasound Emission

Motor Current Analysis

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET BY OFFERING

Hardware

Vibration Sensors

Accelerometers

Proximity probes

Tachometers

Infrared Sensors

Thermal infrared sensors

Quantum infrared sensors

Spectrometers

Infrared spectrometers

Ultraviolet spectrometers

Atomic spectrometers

Mass spectrometers

Ultrasound Detectors

Sound pressure meters

Stethoscopes

Ultrasound leak detectors

Spectrum Analyzers

Real-time spectrum analyzers

Corrosion Probes

Software

Data Integration

Diagnostic Reporting

Order Tracking Analysis

Parameter Calculation

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET, BY DEPLOYMENT TYPE

On-premises

Cloud

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET, BY MONITORING PROCESS

Online Condition Monitoring

Portable Condition Monitoring

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET, BY INDUSTRY

Oil & Gas

Power Generation

Metals & Mining

Chemicals

Automotive

Aerospace & Defense

Food & Beverages

Marine

Others (Healthcare, Cement, Paper & Pulp, and Semiconductor & Electronics)

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET, BY GEOGRAPHY

Overview

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia Pacific

Rest of the World

Latin America

Middle East & Africa

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET COMPETITIVE LANDSCAPE

Introduction

Footprint analysis of the top players in the global machine condition monitoring equipment market

Product & service portfolio matrix

Market share analysis

Company evaluation quadrant

Company evaluation quadrant for start-ups/smes

Competitive scenario

GLOBAL MACHINE CONDITION MONITORING EQUIPMENT MARKET COMPANY PROFILES

(Business overview, Products & services offered, Recent Developments, Competitive analysis, SWOT Analysis,)

1. ALS Limited
2. Azima DLI LLC
3. Brüel & Kjær Vibro
4. ClampOn AS
5. Cosasco
6. Crystal Instruments
7. CTRL Systems, Inc.
8. Data Physics Corporation
9. Emerson Electric Co.,
10. FLIR Systems, Inc.
11. Fluke Corporation
12. General Electric
13. Honeywell Process Solutions
14. ITT Corporation
15. Meggitt PLC
16. National Instruments Corporation
17. Parker Hannifin Corp.
18. Parker Kittiwake
19. PCB Piezotronics, Inc.
20. Rockwell Automation, Inc.
21. Schaeffler Technologies AG & Co. KG
22. Shinkawa Electric Co., Ltd.
23. SKF
24. SPM Instrument AB

and Others.

APPENDIX

Discussion guide

Available customizations

Related reports

Methodology

Research Methodology is the process used to collect information and data for the purpose of making business decisions. The success of a research project is entirely dependent on the research methodology adopted by the company. Research Methodology and Scope We have implemented a mix of primary and secondary research for our market estimate and forecast. Secondary research formed the initial phase of our study, where we conducted extensive data mining, referring to verified data sources such as independent studies, company annual reports, white papers, case studies, government and regulatory published articles, technical journals, magazines, and paid data sources. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for respective regions. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the respective regions. The primary data has been collected through questionnaires, e-mails, and telephonic interviews, end-user surveys, consumer surveys, technology distributors and wholesaler’s surveys.

• Quantitative methods (e.g. surveys) are best for measuring, ranking, categorizing, identifying patterns and making generalizations
• Qualitative methods (e.g. interviews) are best for describing, interpreting, contextualizing, and gaining in-depth insight into specific concepts or phenomena
• Mixed methods allow for a combination of numerical measurement and in-depth exploration.

Market drivers and restraints, along with their current and expected impacts, technological scenario and expected developments, end-use industry trends and dynamics  and consumer behavior trends  these forecasting parameters were considered.

Ethical approach, attention to detail, consistency, latest trend in the market and highly authentic source these are benefits of company’s research methodology.

Market size estimation methodology top-down and bottom-up approaches

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. Estimating the size of the market in each region by adding the sizes of country-wise markets and tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. It provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, company profiles, key player strategies competitive developments and key developments) influencing the virtual reality market growth.

Statistical Model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis.