What is Global Online Vibration Monitoring Equipment Market?
The Global Online Vibration Monitoring Equipment Market is a vast and dynamic sector that has been gaining significant traction in recent years. This market revolves around the production, distribution, and use of online vibration monitoring equipment, which are devices used to measure the vibration levels in machinery and other equipment. These devices are crucial in various industries as they help in early detection of faults in machinery, thereby preventing costly breakdowns and ensuring smooth operations. The market is global in nature, meaning it spans across all continents, with various key players contributing to its growth and development. The value of this market was pegged at US$ 669.1 million in 2023, and it has been growing steadily ever since.
Handheld, Stand in the Global Online Vibration Monitoring Equipment Market:
The Global Online Vibration Monitoring Equipment Market is segmented based on the type of equipment, namely handheld and stand-based devices. Handheld devices are portable and easy to use, making them ideal for on-the-spot vibration monitoring in various settings. On the other hand, stand-based devices are typically used in industrial settings where continuous monitoring of machinery vibration is required. These devices are often integrated with other systems for comprehensive condition monitoring and predictive maintenance. Both types of devices play a crucial role in the market, catering to different needs and applications.
Machinery Manufacturing, Chemical Industry, Vehicle, Electric Power, Others in the Global Online Vibration Monitoring Equipment Market:
The usage of online vibration monitoring equipment is widespread, spanning across various industries such as machinery manufacturing, chemical industry, vehicle, electric power, among others. In machinery manufacturing, these devices are used to monitor the vibration levels of various machines during the production process, helping to detect any anomalies that could indicate potential faults. In the chemical industry, they are used to monitor the vibration of pumps, compressors, and other equipment that are critical to the production process. In the vehicle industry, they are used to monitor the vibration of engines and other components to ensure optimal performance. In the electric power industry, they are used to monitor the vibration of generators, turbines, and other equipment to prevent unexpected breakdowns.
Global Online Vibration Monitoring Equipment Market Outlook:
Looking at the market outlook, the Global Online Vibration Monitoring Equipment Market has shown promising growth. In 2023, the market was valued at US$ 669.1 million. Fast forward to the present, and the market is projected to reach a value of US$ 930.8 million by 2030. This represents a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2024 to 2030. This steady growth can be attributed to the increasing demand for these devices across various industries, driven by the need for effective condition monitoring and predictive maintenance.
| Report Metric | Details |
| Report Name | Online Vibration Monitoring Equipment Market |
| Accounted market size in 2023 | US$ 669.1 million |
| Forecasted market size in 2030 | US$ 930.8 million |
| CAGR | 4.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| 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 |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
