A report on the Vibration Monitoring Market has been recently published by Stratview Research. This Market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Vibration Monitoring Market. The historic years considered for the study are 2015-2020 the base year is 2021, and the forecast period is 2021-2026.
The study includes an in-depth analysis of type, application, and regional segments. It also includes a Market channel, distribution, and customer analysis, industry cost analysis, Market analysis by application, production, revenue, and price trend analysis by type, production and consumption analysis by region, and various other Market studies.
Vibration Monitoring Market is likely to witness a CAGR of 5% during the forecast period. The expansion of the vibration monitoring market has been aided by the growth of IoT technologies. It allows producers to keep track on the status of process equipment and machinery in real time. As a result, they can take preventative action in the event of a problem and plan service maintenance to avert failure.
The Market is segmented by Component Type (Hardware, Software, and Services), by Monitoring Process Type (Online and Portable), by System Type (Embedded, Vibration Analyzer, and Vibration Meter), by Application Type (Oil & Gas, Energy & Power, Metals & Mining, Chemical, Automotive, and Food & Beverages), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This report also focuses on the short- and long-term implications of the novel Coronavirus pandemic on Vibration Monitoring Market at the global, and regional dimensions. To evaluate the percentage of loss or profit to the industry, the report also compares pre-COVID and post-COVID scenarios.
The report delivers a detailed view of the industry based on Vibration Monitoring Market size, Market growth, and opportunities. The report also analyses Market key aspects such as-
– Market structure: Overview, industry life cycle analysis, supply chain analysis
– Covid-19 Impact analysis.
– Market environment analysis: Growth drivers and constraints, and SWOT analysis.
– Market trend and forecast analysis.
– Market segment trend and forecast.
– Competitive landscape and dynamics: Market share, product launches, etc.
– Attractive Market segments and associated growth opportunities.
– Emerging trends.
– Strategic growth opportunities for the existing and new players.
The research provides in-depth analysis of the important elements that drive Market growth, including growth potential, opportunities, current Market trends, industry-specific obstacles, and dangers.
Key Segments Vibration Monitoring Market Report Covers:
Based on the component type, the market is segmented as hardware, software, and services. In 2019, the hardware segment had a market share of over 65 percent, and this growth is expected to be approximately 6% during the forecast period. Sensors, transmitters, accelerometers, and proximity probes are among the hardware components utilized in the vibration monitoring system. The sensors allow for the detection of excessive levels of vibration in the rotary machine and improve the precision of the monitoring system, resulting in increased market demand.
Based on the system type, the market is segmented as embedded, vibration analyzer, and vibration meter. Embedded systems account for the majority of the vibration monitoring market and are expected to increase at a CAGR of over 6% throughout the forecast period. These systems, which are mounted directly on the machine and provide continuous and effective monitoring, have a significant market growth potential. Embedded systems have analysis, sensing, storing, and alarm capabilities, allowing them to send out rapid messages in the event of irregular vibrations. As a result, market possibilities for these systems exist in the oil and gas, metals and mining, and energy and power industries, all of which require constant monitoring in crucial operations.
In terms of regions, the Asia-Pacific vibration monitoring market will increase at a rate of over 6%, during the forecast period, owing to rising coal output in China. According to the China National Energy Administration (NEA), additional coal production capacity was permitted for roughly 141 million tons in January to June 2019, up from 25 million tons in 2018. In the first half of 2019, the country’s coal output escalated by 2.6 percent to 1.76 billion tons. This will augment the use of vibration monitoring in coal mines for continuous monitoring, affecting the market income. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
According to the report, brands or companies that are leading globally in this Market are –
- AB SKF
- ALS Limited
- Analog Devices, Inc.
- Brüel & Kjær Vibro GmbH
- Emerson Electric Co.
- Fluke Corporation
- General Electric
- Honeywell International Inc
- MACHINE SAVER
- Meggitt SA
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