Vibration Monitoring Market Size USD 2.17 Billion By 2027 At A CAGR Of 6.6% - Valuates Reports

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Dec 18, 2020, 09:30 ET

BANGALORE, India, Dec. 18, 2020 /PRNewswire/ -- Vibration Monitoring Market is segmented by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), and End-Use (Energy & Power, Metals & Mining, Oil & Gas, Automotive, Food & Beverages, and Others). This report is published on Valuates Reports in the Industrial Materials & Equipments Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2027.

The global vibration monitoring market size is expected to reach from USD 1.33 billion in 2019 to USD 2.17 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.

Major factors driving the vibration monitoring market size are the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, increasing demand from emerging applications such as heating, ventilation, and air conditioning (HAVC), and penetration of smart factories.

This study comprises an analytical depiction of the global vibration monitoring market share along with the current trends and future estimations to depict the imminent investment pockets.

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TRENDS INFLUENCING THE VIBRATION MONITORING MARKET SIZE

An increase in the trend of vibration monitoring through the wireless system is expected to drive the Vibration Monitoring Market size. Wireless vibration monitoring system helps eliminate the need for hardwiring for communications and also dramatically reduces sensor cable lengths. Furthermore, the advantages of integrating vibration monitoring through a wireless system include reduced installation cost, mobility/portability, untethered operation, convenience, and reliability.

Vibration monitoring eliminates unwanted human-mediated operations, such as manual checks and unscheduled corrections. New technologies, such as system-on-a-chip (SOC), have pushed the boundaries of data acquisition by allowing accurate, real-time data acquisition that can be immediately relayed to handheld devices such as smartphones. These advantages are in turn expected to drive the growth of the vibration monitoring market size.

The increasing adoption in the oil & gas industry is expected to drive the growth of vibration monitoring market size. The oil & gas industry uses highly complex and costly machinery, such as boilers, pumps, generators, and pipes. They use a lot of power and produce an equally large amount of heat. Even a minor malfunction in the system may lead to an increase in power consumption and process downtime or cause the release of potent gases, leading to an explosion.

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VIBRATION MONITORING MARKET SHARE ANALYSIS

North America is expected to hold the largest vibration monitoring market share during the forecast period. This dominance of North America is attributed to the significantly high adoption of vibration monitoring products and the launch of advanced vibration monitoring products by key players in this region. U.S and Canada are the major countries contributing to the growth of vibration monitoring market size in the North American region.

Asia Pacific region is expected to witness the highest growth rate during the forecast period. The rapid growth of the Asia-Pacific region is attributed to the rising coal production in China. This will increase the implementation of vibration monitoring for continuous monitoring of coal mines, thereby influencing the market revenue.

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KEY SEGMENTATIONS

By Component

Hardware
Software
Services

By System Type

Embedded Systems
Vibration Analyzers
Vibration Meters

By Monitoring Process

Online
Portable

By End Use

Energy & Power
Metals & Mining
Oil & Gas
Automotive
Food & Beverages
Others

By Region

North America

U.S.
Canada
Mexico

Europe

Germany
France
UK
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA

Latin America
Middle East
Africa

Key Market Players Profiled

SKF AB
Emerson Electric Co.
General Electric
Meggitt PLC
National Instruments Corp.
Rockwell Automation Inc.
Honeywell International Inc.
Schaeffler Technologies AG & Co. KG
Bruel & Kiaer Sound & Vibration Measurement A/S
Analog Devices Inc.

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SIMILAR REPORTS

- The Global Vibration Monitoring Equipment market size is projected to reach USD 1985.9 million by 2026, from USD 1406.3 million in 2020, at a CAGR of 5.9% during 2021-2026.

The report covers the market share of the global Vibration Monitoring Equipment market, supply and demand ratio, growth revenue, supply chain analysis, and business overview. It also provides current and future market trends that are influencing the growth of the global Vibration Monitoring Equipment market size.

- The global Vibration Monitoring and Diagnostics System market is segmented by Type - Offline Vibration Monitoring and Diagnostics System, Online Vibration Monitoring and Diagnostics System and by Application - Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, by key players, Region - North America, LAMEA, Middle East, Asia pacific. etc.

- Vibration Monitoring Devices Market is segmented by Type - Offline Vibration Monitoring and Diagnostics System, Online Vibration Monitoring and Diagnostics System and by Application - Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, by key players, Region - North America, LAMEA, Middle East, Asia pacific. etc.

- The Global Offline Vibration Monitoring Equipment market is segmented by Type - Handheld, Stand and by Application - Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.

- Aerospace Engine Vibration Monitoring System Market is segmented by Product Type: Engine Monitoring Unit, Engine Interface & Control Unit, Engine Interface & Vibration Monitoring Unit, Others, Application: Aircraft, Spacecraft, by key players, Region - North America, LAMEA, Middle East, Asia pacific. etc.

- Engine Vibration Monitoring Market is segmented by Product Type: Integrator filters (velocity mode), Dual-integrator filters (displacement mode), Application: Vehicle, Aircraft, Others, by key players, Region - North America, LAMEA, Middle East, Asia pacific. etc.

- Online Vibration Monitoring Equipment Market is segmented by Product Type - Handheld, Stand, Application - Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, Others, by key players, Region - North America, LAMEA, Middle East, Asia pacific. etc.

- Embedded Vibration Monitoring System market is segmented by Product-Type: Accelerometers, Proximity Probes, Velocity Sensors, Transmitters, Others, Application: Chemicals, Automobile Industry, Aerospace and Defense, Food and Drink, Marines, Pulp and Paper, Region - North America, LAMEA, Middle East, Asia pacific. etc.

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