Dallas, Texas, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Technology advancements mostly in the field of wireless technology, has greatly improved the data collection and analysis patterns. Today, vibration monitoring equipment are extremely portable and can easily be connected to smartphones. Also, they can easily communicate with tablets and collect, interpret, and share real time data. Furthermore, vibration monitoring equipment manufacturers are developing their own applications to communicate with each other.
The global vibration monitoring equipment market is expected to reach close to $5.76 by 2030 with an annualized growth rate of 5.9% through the forecast span 2022-2030.
Technology advancements, improved sensor technology have led to the development of non-contact, precise, and high-speed detection solutions than the most commonly used tool such as accelerometers. As diagnostic equipment become a norm, the demand for vibration monitoring equipment has seen steady rise propelling the global vibration monitoring equipment market.
Vibration monitoring equipment has the ability to monitor and detect issues using vibration data and detect problems such as faulty frequencies in bearings, gearbox failures, misalignment, mechanical looseness, critical speeds, or unbalanced fan wheel. Moreover, vibration monitoring equipment allows analyses quantitatively the structural weakness or looseness, looseness in rotating component, and can detect whether resonance is present. Overall, the vibration monitoring equipment is extremely helpful in assessing structural integrity or information about the health condition of facility equipment. As a result, the demand for vibration monitoring equipment has increased for applications in wind and gas turbines, nuclear power plants, and others areas. These factors collectively influence thumping growth of global vibration monitoring equipment market.
The key forces such as growing deployment of automated monitoring technologies, rising awareness of manufacturers regarding the advantages of vibration monitoring systems, growing monitoring of the development of vibration levels to prevent further damage and take actions before failure occurs is driving the global vibration monitoring equipment market.
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Global Vibration monitoring equipment scope:
| Metrics | Details |
| Study Period | 2022-2030 |
| Market Size in 2030 | USD 5.76 by 2030 |
| Segment Covered | Product , Application , Industry, |
| By Process | online vibration monitoring, portable vibration monitoring and Others |
| By Application Covered | Oil & Gas, Automotive, Chemicals, Others |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | Emerson Electric, General Electric, Honeywell International, National Instruments, and SKF, others |
Although quite valuable in the industrial sectors, some factors limit the demand and installation of vibration monitoring equipment. Some vibration monitoring systems limit the number of data sets and duration of data that can be automatically trended. Also, trend data is not normalized. Furthermore, market aspects like lack of trained professionals or technical resources for data analysis is also restraining the global vibration monitoring equipment market.
On the other hand, well-designed and advanced vibration monitoring equipment accurately and timely determine necessary repairs, identify the root cause problems, examine the overall condition of a plant or equipment, reduce overall cost of plant by preventive shutdowns in advance. Hence, the vibration monitoring equipment has experienced rapid adoption anticipated to be g growth opportunity to the global vibration monitoring equipment market.
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The global vibration monitoring equipment is classified into automotive industry, oil and gas industry, chemical industry, energy and power industry, and other on the basis of applications. Among these, the automotive industry has undergone rapid expansion and experienced more profit in recent years in the global vibration monitoring equipment market. The high demand for vibration monitoring equipment for smooth running of operations and adequately monitor the health of the machinery, the automakers use vibration monitoring equipment. Also, there has been rising focus on condition monitoring to improve productivity of machinery and prevent it from failure. Growing attention on consistency of production operations is leading to wider adoption of vibration monitoring sensors or equipment in automotive industry. This is driving the global vibration monitoring equipment market.
Important Points from Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Vibration Monitoring Equipment Market by Process, 2018-2028 (USD million)
5. Vibration Monitoring Equipment Market by Application, 2018-2028 (USD million)
6. Vibration Monitoring Equipment Market by Region 2018-2028 (USD million)
7. Competitive Landscape
7.1. Company Ranking
7.2. Market Share Analysis
7.3. Strategic Initiatives
7.3.1. Mergers & Acquisitions
7.3.2. New Product Launch
7.3.3. Others
8. Company Profiles
8.1.1. Daily Harvest Overview
8.1.2. Products Portfolio
8.1.3. Recent Initiatives
8.1.4. Company Financials
8.2. Emerson Electric,
8.3. General Electric,
8.4. Honeywell International,
8.5. National Instruments
8.6. SKF
8.7. Others
9. Appendix
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