What is Global Vibration Monitoring Equipment Market?
The Global Vibration Monitoring Equipment Market is a comprehensive study of the various aspects of the industry, including the different types of equipment available, their applications, and the key players in the market. This market is primarily concerned with the devices and systems used to measure and monitor the vibration in various machinery and systems. These devices are crucial in industries where the slightest change in vibration can lead to significant issues, such as in the manufacturing and chemical industries. The equipment is used to detect any anomalies in the vibration patterns of machinery, which can be an early indicator of potential faults or failures. This allows for preventative maintenance and reduces the risk of costly breakdowns. The market is driven by the increasing demand for predictive maintenance, the growing importance of remote monitoring due to the COVID-19 pandemic, and the rising use of wireless systems for vibration monitoring. However, the high cost of these systems and the lack of skilled professionals to operate them are some of the challenges faced by this market.
Offline Vibration Monitoring Equipment, Online Vibration Monitoring Equipment in the Global Vibration Monitoring Equipment Market:
The Global Vibration Monitoring Equipment Market is divided into two main segments: Offline Vibration Monitoring Equipment and Online Vibration Monitoring Equipment. Offline monitoring equipment is portable and is used to monitor the vibration of machinery at specific intervals. This type of equipment is typically used in industries where machinery is not continuously operated, or where it is not feasible to install permanent monitoring systems. On the other hand, online monitoring equipment is permanently installed on the machinery and provides continuous monitoring of vibration. This type of equipment is used in industries where machinery is operated continuously, and where any change in vibration can have serious consequences. Both types of equipment play a crucial role in maintaining the efficiency and longevity of machinery, and their demand is expected to increase with the growing emphasis on predictive maintenance.
Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, Others in the Global Vibration Monitoring Equipment Market:
The Global Vibration Monitoring Equipment Market finds its applications in various sectors such as Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, among others. In the Machinery Manufacturing sector, these devices are used to monitor the vibration of various machines during the manufacturing process. Any change in the vibration pattern can indicate a potential fault in the machine, which can be rectified before it leads to a breakdown. In the Chemical Industry, these devices are used to monitor the vibration of pumps, compressors, and other equipment that are critical to the production process. In the Vehicle sector, vibration monitoring equipment is used to monitor the vibration of engines, transmissions, and other components to ensure their proper functioning. In the Electric Power sector, these devices are used to monitor the vibration of generators, turbines, and other equipment to prevent any potential failures.
Global Vibration Monitoring Equipment Market Outlook:
The Global Vibration Monitoring Equipment Market, which was valued at US$ 1465 million in 2022, is projected to reach a value of US$ 2198.7 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period from 2023 to 2029. The largest share of this market is held by North America, which accounts for about 40% of the total market. Europe follows closely behind, accounting for about 29% of the market. The top three companies in this market hold a combined market share of about 28%. This data indicates the competitive nature of this market, with several key players vying for a larger share of the market.
| Report Metric | Details |
| Report Name | Vibration Monitoring Equipment Market |
| Accounted market size in 2022 | US$ 1465 in million |
| Forecasted market size in 2029 | US$ 2198.7 million |
| CAGR | 5.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | SKF, GE, Rockwell Automation, Emerson, Schaeffler AG, Honeywell, SHINKAWA Electric, National Instruments, Meggitt, SPM Instrument, Fluke (Danaher), Siemens, RION, Expert, Instantel, Bruel & Kjaer, Donghua |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
