Dublin, July 10, 2020 (GLOBE NEWSWIRE) -- The "Vibration Monitoring Market by Component (Hardware and Software), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), Industry, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Vibration Monitoring Market Size is Projected to be Valued at USD 1.5 Billion in 2020 to Reach USD 2.2 Billion by 2025, at a CAGR of 7.4%
This research report categorizes the vibration monitoring market based on offering, monitoring process, system type, industry, and geography. Moreover, the report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain analysis and market ranking analysis.
Vibration monitoring market is expected to grow at a high rate during 2020-2025.
Vibration monitoring solutions have gradually become an integral part of the various industries for carrying out the predictive maintenance program effectively, with an aim to minimize costly breakdowns of machines affecting the production process.
Factors such as the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, increasing demand from emerging applications such as heating, ventilation and air conditioning (HAVC), and penetration of smart factories in major regions are driving the growth of the vibration monitoring market.
Growth of vibration monitoring industry expected to be driven by the oil & gas industry during 2020-2025.
The oil & gas industry is expected to hold a significant share of the global vibration monitoring market during the forecast period. The oil & gas industry uses extremely complex and expensive equipment such as boilers, pumps, generators, and piping network for their operations. These equipment consume a lot of power and generate an equally large amount of heat. Even a minor fault in the machine may lead to an increase in power consumption and process downtime or trigger the release of potent gases, leading to an explosion. Thus, vibration monitoring systems are in high demand in the oil & gas industry. Besides oil & gas, other industries that hold a significant share in the vibration monitoring industry are energy & power, metals & mining, and chemicals, among others.
Vibration monitoring market in APAC to grow at the highest CAGR during the forecast period.
The market for vibration monitoring in APAC is expected to grow at the highest CAGR between 2020 and 2025. Rapid industrialization, increasing adoption of predictive maintenance tools, and competitive pressure to achieve operational efficiency are fueling the growth of the vibration monitoring market in APAC. The expansion of manufacturing activities as a result of the migration of production bases to Asian countries with low labor costs, such as China, India, and South Korea, is driving the demand for vibration monitoring systems in the region.
Moreover, the report profiles the key players in the vibration monitoring market and analyzes their market ranking. The prominent players in this market are SKF (Sweden), Emerson Electric (US), General Electric (US), Meggitt (UK), National Instruments (US), Rockwell Automation (US), Honeywell International (US), Bruel & Kiaer (Denmark), and Analog Devices (US), among others.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Vibration Monitoring Market Expected to Have Huge Growth Opportunities in Apac
4.2 Vibration Monitoring Market, by Monitoring Process (2017-2025)
4.3 Vibration Monitoring Market, by System Type
4.4 Vibration Monitoring Market, by Offering
4.5 Vibration Monitoring Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Wireless Systems in Machine Condition Monitoring
5.2.1.2 Increasing Disposition Toward Predictive Maintenance
5.2.1.3 High Demand From Emerging Applications
5.2.1.4 Growing Adoption of Automated Condition Monitoring Technologies and Penetration of Smart Factory
5.2.1.5 Advent of Secure Cloud Computing Platforms Used in Condition Monitoring
5.2.2 Restraints
5.2.2.1 Additional Retrofitting Costs for Vibration Monitoring Solutions on Existing Machinery
5.2.2.2 Impact of Regulatory Standards
5.2.2.3 Lack of Trained Technical Resources for Data Analysis
5.2.3 Opportunities
5.2.3.1 Development of Machine Learning and Big Data Analytics
5.2.3.2 Digitization and Industrial Internet of Things (IIoT) to Unfold New Growth Avenues
5.2.4 Challenges
5.2.4.1 Accessibility to Expertise at Remote Locations
5.2.4.2 Trend of Integration of Vibration Monitoring Systems With Other Maintenance Systems
5.3 Value Chain Analysis
6 Route Monitoring Services and Procurement Types of Vibration Monitoring Equipment
6.1 Procurement Types of Vibration Monitoring Equipment
6.1.1 Third-Party Service Providers (Indirect)
6.1.2 End Users (Direct)
6.2 Route-Based Vibration Monitoring Services
7 Vibration Monitoring Market, by Offering
7.1 Introduction
7.2 Hardware
7.2.1 Accelerometers
7.2.1.1 Accelerometers Are Used in a Variety of Applications for Vibration Monitoring
7.2.2 Proximity Probes
7.2.2.1 Proximity Probes Monitor the Movement of Rotating Equipment and Detect Defects Such As Misalignment and Faulty Bearings
7.2.3 Velocity Sensors
7.2.3.1 Velocity Sensors Are Capable of Recording Low- to Medium-Frequency Measurements
7.2.4 Transmitters
7.2.4.1 Transmitters Are Significant Components of Vibration Monitoring Systems
7.2.5 Others
7.3 Software
7.3.1 Data Integration
7.3.1.1 Data Integration Plays a Vital Role in the Vibration Monitoring Process
7.3.2 Diagnostic Reporting
7.3.2.1 Diagnostic Reporting Helps in Understanding the Condition of Machines
7.3.3 Parameter Calculation
7.3.3.1 Maintenance Activities Are Largely Supported by the Parameter Calculation Function
8 Vibration Monitoring Market, by Monitoring Process
8.1 Introduction
8.2 Online Vibration Monitoring
8.2.1 Online Vibration Monitoring is Particularly Useful in Plants That Are Operating Continuously
8.3 Portable Vibration Monitoring
8.3.1 Portable Vibration Monitoring Supports in the Reduction of Maintenance Costs
9 Vibration Monitoring Market, by System Type
9.1 Introduction
9.2 Embedded Systems
9.2.1 Embedded Systems Are Largely Adopted in Oil & Gas and Energy & Power Industries
9.3 Vibration Analyzers
9.3.1 Vibration Data Gathered Through Vibration Analyzers Supports in Efficient Machine Condition Monitoring
9.4 Vibration Meters
9.4.1 Vibration Meters Are Mainly Used for Simple Readings of Vibration Measurement of Machines
10 Vibration Monitoring Market, by Industry
10.1 Introduction
10.2 Oil & Gas
10.2.1 Vibration Monitoring Solutions Play a Vital Role in the Oil & Gas Industry
10.3 Energy & Power
10.3.1 Rising Need for Predictive Maintenance by Power Generation Plants to Uplift the Vibration Monitoring Market
10.4 Metals & Mining
10.4.1 Demand for Remote Diagnostics in the Mining Industry to Support the Growth of the Vibration Monitoring Market
10.5 Chemicals
10.5.1 Vibration Monitoring is Used to Monitor Chemical Processes on a Real-Time Basis
10.6 Automotive
10.6.1 Online Vibration Monitoring Witnesses Higher Demand in the Automotive Industry
10.7 Aerospace & Defense
10.7.1 Vibration Monitoring Systems Help in Detecting Potential Faults in the Aerospace & Defense Industry
10.8 Food & Beverages
10.8.1 Vibration Monitoring Systems Largely Help in Maintaining the Product Quality in the Food & Beverages Industry Through Efficient Operations
10.9 Marine
10.9.1 Vibration Monitoring Majorly Helps in the Reduction of Potential Failures in Marine Machineries
10.10 Pulp & Paper
10.10.1 Need for Predictive Maintenance in the Pulp & Paper Industry to Boost the Growth of the Vibration Monitoring Market
10.11 Others
11 Vibration Monitoring Market, by Region
11.1 Introduction
11.2 North America
11.2.1 Us
11.2.1.1 Rising Adoption of Industry 4.0 to Support the Growth of the Vibration Monitoring Market
11.2.2 Canada
11.2.2.1 Oil & Gas and Aerospace Industries in Canada Are Largely Supporting the Growth of the Vibration Monitoring Market
11.2.3 Mexico
11.2.3.1 Increasing Adoption of Industrial Automation in the Country to Uplift the Vibration Monitoring Market
11.3 Europe
11.3.1 Uk
11.3.1.1 Increasing Deployment of IIoT in the Manufacturing Sector to Boost the Vibration Monitoring Market in the Uk
11.3.2 Germany
11.3.2.1 Growth of Industry 4.0 to Boost the Vibration Monitoring Market in Germany
11.3.3 France
11.3.3.1 Focus and Technological R&D and Government Support to Fuel the Vibration Monitoring Market
11.3.4 Rest of Europe
11.4 Asia Pacific (Apac)
11.4.1 China
11.4.1.1 Increasing Adoption of Industrial Automation Fueling the Vibration Monitoring Market Growth in China
11.4.2 Japan
11.4.2.1 Notable Growth in the Automotive Industry to Drive the Market in Japan
11.4.3 India
11.4.3.1 Make in India Initiative to Drive the Adoption of Vibration Monitoring Solutions in the Manufacturing Sector
11.4.4 Rest of Apac
11.5 Rest of the World (RoW)
11.5.1 Middle East
11.5.1.1 Oil & Gas Sector in the Middle East is the Major Force Driving the Vibration Monitoring Market
11.5.2 South America
11.5.2.1 Investments by Asian Economies to Support Growth in the Region
11.5.3 Africa
11.5.3.1 Availability of Natural Resources Generating Opportunities for Rapid Growth of Mining, and Oil & Gas Industries in the Market
12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis: Vibration Monitoring Market, 2019
12.3 Competitive Leadership Mapping
12.3.1 Visionary Leaders
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
12.4 Competitive Situations and Trends
12.4.1 Product Launches
12.4.2 Collaborations, Mergers, Contracts
13 Company Profiles
13.1 Key Players
13.1.1 Emerson Electric
13.1.2 General Electric
13.1.3 Honeywell International
13.1.4 National Instruments
13.1.5 SKF
13.1.6 Rockwell Automation
13.1.7 Schaeffler
13.1.8 Bruel & Kjaer
13.1.9 Meggitt
13.1.10 Analog Devices
13.2 Right-to-Win
13.3 Other Players
13.3.1 Fluke
13.3.2 Symphony Azimaai
13.3.3 PCB Piezotronics
13.3.4 Parker-Hannifin
13.3.5 SPM Instrument
13.3.6 ALS
13.3.7 Machine Saver
13.3.8 Petasense
13.3.9 Wilcoxon Sensing Technologies
13.3.10 PCMS Engineering
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