- Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025
Condition monitoring is an essential component of any predictive maintenance as it monitors the parameters for a condition in machinery such as vibration analysis and diagnostics, lubricant analysis, acoustic emission (airborne ultrasound), infrared thermography, ultrasound testing (material thickness/flaw testing), motor condition monitoring, and motor current signature analysis (MCSA). This type of monitoring identifies a significant change, which is indicative of a developing fault.
The use of condition monitoring facilitates extended bearing service life, minimized unscheduled downtime, maximized machine productivity, minimized number of open, inspect & repair if necessary, safely extend overhaul intervals, and increased machine life.
It allows maintenance to be scheduled, or other actions to be taken to prevent failure and avoid its consequences. However, there are some shortcomings of condition monitoring such as all machines not following the same schedule and minor errors, for instance, alignment, mounting conditions, and balancing of components, which are expected to dematerialize in the coming year owing to the research activities being conducted by the key manufacturers in the market. The global machine condition monitoring market is expected to grow at a CAGR of 6.8% from 2017 to 2025.
Based on technology, the market comprises of lubricating oil analysis, vibration analysis & diagnostics, corrosion monitoring, infrared thermography, motor current signature analysis (MCSA), and ultrasound emission testing. Vibration analysis & diagnostics machine condition monitoring is one of the leading markets in 2015. Furthermore, the market is categorized based on industry vertical of machine condition monitoring, which includes oil and gas, steel and metal, chemical & petrochemical, automotive, pharmaceutical, and others (cement, power, pulp & paper, and food & beverage). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The top players in the global machine condition monitoring market include Honeywell International Inc., General Electric Company, Emerson Process Management, National Instruments Corporation, Rockwell Automation, Inc., and others.
By Industry Vertical
Progressive Markets added a report, Blockchain Distributed Ledger Market - Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025, which says that the global blockchain distributed ledger market is likely to grow at a CAGR of 55.69% from 2018 to 2025. Read More >>