ANHUI RONDS SCIENCE & TECHNOLOGY INCORPORATED COMPANY
ERBESSD INSTRUMENTS
ISTEC INTERNATIONAL
PETASENSE INC.
MACHINE SAVER
KCF
STI VIBRATION MONITORING INC.
HANSFORD SENSORS
MONITRAN
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The global vibration monitoring market size is expected to grow from USD 1.85 billion in 2024 to USD 2.69 billion by 2029, at a CAGR of 7.8% from 2024 to 2029. The rising interest in cloud platforms and their adoption offer enterprises new business capabilities and opportunities. Currently, enterprises require advanced machines equipped with advanced maintenance technologies to avoid any reduction or interruption in production. These enterprises also require monitoring the health of manufacturing equipment in real-time, thereby leading to the employment of diagnostic technologies for machine tools.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million)
Segments
By Offering, Monitoring Process, Deployment Type, Application and Industry and Region
Regions covered
North America, Europe, APAC, RoW
"Chemical segment is projected to grow at an impressive CAGR during the forecast period."
Chemical processing plants have machines that are vulnerable to failure and unplanned downtime, with the added risk of harmful impact on the environment. Several types of process equipment are used in chemical plants, including boilers, turbines, motors, conveyors, dryers, evaporators, feeders, filters, generators, heat exchangers, mixers, packaging equipment, pumps, reactors, tanks, and valves. A prolonged process interruption can lead to production losses. Most equipment in the chemical processing industry have standard couplings, gearboxes, and rolling element bearings. Thus, the implementation of appropriate protection, prediction, and performance monitoring systems is essential for the profitability of chemical manufacturing plants. Vibration monitoring systems and solutions are used in chemical plants to monitor various chemical processes.
"The market in Europe is expected to hold significant market share during the forecast period."
Germany is one of the key countries in Europe. The country has a strong automotive manufacturing base. The Government of Germany has undertaken an ambitious Industry 4.0 project to computerize its process industries to increase resource efficiency and industrial output. The technological base for this project is cyber-physical systems, cloud computing, and the Internet of Things. Its goal is to increase digitalization through smart factories and loT. The increasing use of intelligent sensing technologies and Industry 4.0 has significantly enhanced the condition monitoring processes in Germany. Industry 4.0 helps to digitize industrial processes and improve plant efficiency.
Breakdown of the profiles of primary participants:
By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
By Designation: C-level Executives - 45%, Directors - 35%, and Others - 20%
By Region: North America - 40%, Europe - 30%, Asia Pacific - 20%, and RoW - 10%
Major players profiled in this report are as follows: Baker Hughes Company (US), Honeywell International Inc (US), Emerson Electric Co. (US), SKF (Sweden), Schaeffler AG (Germany), Parker Hannifin Corp (US), Rockwell Automation (US), Analog Devices, Inc. (US), ALS (Australia), Teledyne FLIR LLC (US), and Others.
Research Coverage
The vibration monitoring market has been classified by offering, monitoring process, deployment type, system type, industry, and region. The market by offering has been classified into hardware, software, and services. The monitoring process segment is divided into online and portable. The system type segment is divided into on-premises and cloud. The deployment type segment is divided into on-premises and cloud. The market has been divided into oil & gas, power generation, mining & metals, chemicals, automotive, aerospace, food & beverages, other industries by industry segment. The study also forecasts the market size in four key regions-North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report provides insights on the following pointers:
Analysis of key drivers ( Rising adoption of wireless communication technology to avoid unplanned shutdowns, Growing use of cloud computing platforms to monitor industrial equipment health, Rising predictive maintenance need in industrial area, Rising development of smart manufacturing to drive vibration monitoring adoption, Benefits associated with vibration monitoring systems), restraints (lack of trust issues associated in prediction capabilities of vibration monitoring systems, Lack of availability of trained resources for data analysis), opportunities (Rising interest towards big data analytics and machine learning, Rising collaborations and partnerships among different market players, Rising interest toward Industrial Internet of Things (IIoT)), and challenges (Unavailability of expertise at remote locations, Additional expenses associated with retrofitting existing systems, System integration issues), influencing the growth of the vibration monitoring market.
Product Development/Innovation: Detailed insights on new products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the vibration monitoring market.
Market Development: Comprehensive information about lucrative markets - the report analyses the vibration monitoring market across regions such as North America, Europe, Asia Pacific, and RoW.
Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the vibration monitoring market.
Competitive Assessment: In-depth assessment of market position, growth strategies, and product offerings of leading players like Baker Hughes Company (US), Emerson Electric Co. (US), SKF (Sweden), Schaeffler AG (Germany), Parker Hannifin Corp (US), and among others in the vibration monitoring market.
Strategies: The report also helps stakeholders understand the pulse of the vibration monitoring market and provides information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 List of key secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 List of primary interview participants
2.1.3.2 Key data from primary sources
2.1.3.3 Key industry insights
2.1.3.4 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 TOP-DOWN APPROACH
2.2.1.1 Approach to arrive at market size using top-down analysis (supply side)
2.2.2 BOTTOM-UP APPROACH
2.2.2.1 Approach to arrive at market size using bottom-up analysis (demand side)
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN VIBRATION MONITORING MARKET
4.2 VIBRATION MONITORING MARKET, BY OFFERING
4.3 VIBRATION MONITORING MARKET, BY INDUSTRY
4.4 VIBRATION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY
4.5 VIBRATION MONITORING MARKET, BY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Rising adoption of wireless communication technology to optimize operational efficiency
5.2.1.2 Growing use of cloud computing platforms to monitor industrial equipment health
5.2.1.3 Rapid transition from preventive to predictive maintenance approach
5.2.1.4 Surging adoption of automation and smart manufacturing techniques
5.2.1.5 Increasing awareness regarding benefits of vibration monitoring systems
5.2.2 RESTRAINTS
5.2.2.1 Trust issues related to prediction capabilities of vibration monitoring systems
5.2.2.2 Shortage of trained resources
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing use of big data analytics and machine learning technologies
5.2.3.2 Rising focus of established players on collaborations and partnerships with technology and software solution providers
5.2.4 CHALLENGES
5.2.4.1 Additional expenses associated with retrofitting existing systems
5.2.4.2 System integration issues
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF VIBRATION MONITORING HARDWARE
5.4.2 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY HARDWARE
5.4.3 AVERAGE SELLING PRICE TREND OF VIBRATION MONITORING HARDWARE, BY REGION
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 INVESTMENT AND FUNDING SCENARIO
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGIES
5.8.1.1 IoT
5.8.2 COMPLEMENTARY TECHNOLOGIES
5.8.2.1 Cloud computing
5.8.3 ADJACENT TECHNOLOGIES
5.8.3.1 AI
5.9 PATENT ANALYSIS
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 903190)
5.10.2 EXPORT SCENARIO (HS CODE 903190)
5.11 KEY CONFERENCES AND EVENTS, 2024-2025
5.12 CASE STUDY ANALYSIS
5.12.1 STEEL ROLLING MILL DEPLOYED ONLINE VIBRATION MONITORING SYSTEM TO PREVENT BEARING FAILURE
5.12.2 EMERSON ELECTRIC INSTALLED VIBRATION TRANSMITTER IN BARKING POWER STATION TO REDUCE PLANT DOWNTIME
5.12.3 TWI DEVELOPED ADVANCED CONDITION MONITORING SYSTEM TO IMPROVE WIND TURBINE MACHINERY RELIABILITY
5.13 REGULATORY LANDSCAPE
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.2 STANDARDS
5.14 PORTER'S FIVE FORCES ANALYSIS
5.14.1 BARGAINING POWER OF SUPPLIERS
5.14.2 BARGAINING POWER OF BUYERS
5.14.3 THREAT OF NEW ENTRANTS
5.14.4 THREAT OF SUBSTITUTES
5.14.5 INTENSITY OF COMPETITIVE RIVALRY
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.15.2 BUYING CRITERIA
5.16 IMPACT OF AI/GEN AI ON VIBRATION MONITORING MARKET
5.16.1 INTRODUCTION
5.16.2 VIBRATION MONITORING MARKET POTENTIAL IN KEY INDUSTRIES
5.16.2.1 Oil & gas
5.16.2.2 Power generation
5.16.3 AI USE CASES IN VIBRATION MONITORING
5.16.4 KEY COMPANIES IMPLEMENTING/ADAPTING AI
5.16.5 FUTURE OF GENERATIVE AI IN VIBRATION MONITORING ECOSYSTEM
6 APPLICATIONS OF VIBRATION MONITORING SYSTEMS
6.1 INTRODUCTION
6.2 PUMPS
6.3 MOTORS
6.4 CHILLERS
6.5 FANS
6.6 COMPRESSORS
6.7 TURBINES
6.8 BEARINGS
6.9 OTHER APPLICATIONS
7 VIBRATION MONITORING MARKET, BY OFFERING
7.1 INTRODUCTION
7.2 HARDWARE
7.2.1 VIBRATION ANALYZERS
7.2.1.1 Portability and handheld features to drive adoption
7.2.2 VIBRATION METERS
7.2.2.1 Simplicity and convenience features to boost deployment
7.2.3 ACCELEROMETERS
7.2.3.1 Capacitive sensing ability and need to detect source of vibration to fuel segmental growth
7.2.4 PROXIMITY PROBES
7.2.4.1 Requirement to measure displacements of physical devices to foster segmental growth
7.2.5 VELOCITY SENSORS
7.2.5.1 Ability to record low- and medium-frequency measurements to boost demand
7.2.6 VIBRATION TRANSMITTERS
7.2.6.1 Need to gather vibration-related information in hard-to-reach locations to spike demand
7.2.7 OTHER HARDWARE TYPES
7.3 SOFTWARE
7.3.1 ON-PREMISES
7.3.1.1 Rising adoption by SMEs for simplified data management to support segmental growth
7.3.2 CLOUD-BASED
7.3.2.1 Lower initial investment to accelerate adoption
7.4 SERVICES
7.4.1 TRAINING AND SUPPORT SERVICES TO CONTRIBUTE MOST TO SEGMENTAL GROWTH
8 VIBRATION MONITORING MARKET, BY SYSTEM TYPE
8.1 INTRODUCTION
8.2 ONLINE
8.2.1 NEED FOR REAL-TIME MACHINERY HEALTH INFORMATION TO CONTRIBUTE TO MARKET GROWTH
8.3 PORTABLE 99 8.3.1 EMERGENCE OF LOW-COST PORTABLE VIBRATION MONITORING SOLUTIONS TO DRIVE MARKET
9 VIBRATION MONITORING MARKET, BY INDUSTRY
9.1 INTRODUCTION
9.2 OIL & GAS
9.2.1 STRONG FOCUS ON REDUCING UNPLANNED OUTAGES IN OIL & GAS PLANTS TO DRIVE ADOPTION
9.3 POWER GENERATION
9.3.1 RAPID TRANSITIONING TO RENEWABLE ENERGY SOURCES TO CREATE OPPORTUNITIES
9.4 METALS & MINING
9.4.1 RISING DEMAND FOR REMOTE DIAGNOSTICS OF PORTABLE AND FIXED MINING ASSETS TO SUPPORT MARKET GROWTH
9.5 CHEMICALS
9.5.1 SIGNIFICANT FOCUS ON INCREASING PLANT PROFITABILITY AND REDUCING OPERATING COSTS TO FUEL MARKET GROWTH
9.6 AUTOMOTIVE
9.6.1 GROWING ADOPTION OF IIOT AND DIGITAL TECHNOLOGIES TO FOSTER MARKET GROWTH
9.7 AEROSPACE
9.7.1 SURGING DEPLOYMENT OF SMART FACTORY SOLUTIONS AND ONLINE VIBRATION MONITORING TO ACCELERATE DEMAND
9.8 FOOD & BEVERAGES
9.8.1 ELEVATING NEED TO MAINTAIN OPTIMAL EQUIPMENT CONDITION AND ENSURE QUALITY STANDARDS TO DRIVE MARKET
9.9 OTHER INDUSTRIES
10 VIBRATION MONITORING MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA
10.2.2 US
10.2.2.1 Rising use of Industry 4.0 and smart manufacturing to drive market
10.2.3 CANADA
10.2.3.1 Thriving oil & gas and aerospace industries to support market growth
10.2.4 MEXICO
10.2.4.1 Increasing adoption of automation in industrial plants to fuel market growth
10.3 EUROPE
10.3.1 MACROECONOMIC OUTLOOK FOR EUROPE
10.3.2 GERMANY
10.3.2.1 Rising adoption of digitalization to accelerate market growth
10.3.3 UK
10.3.3.1 Inclination toward smart manufacturing to contribute to market growth
10.3.4 FRANCE
10.3.4.1 Elevating use of automation to foster demand
10.3.5 ITALY
10.3.5.1 Increasing industrial safety concerns to drive adoption
10.3.6 SPAIN
10.3.6.1 Considerable focus on workplace safety and environmental sustainability to fuel demand
10.3.7 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
10.4.2 CHINA
10.4.2.1 Increasing labor costs to boost adoption
10.4.3 JAPAN
10.4.3.1 Growing use of automation in automotive industry to fuel market growth
10.4.4 INDIA
10.4.4.1 Make in India initiative to support market growth
10.4.5 SOUTH KOREA
10.4.5.1 Growing deployment of robotics in manufacturing plants to drive market
10.4.6 SINGAPORE
10.4.6.1 Surging focus of manufacturers on improving operational efficiency and reducing plant downtime to drive market
10.4.7 MALAYSIA
10.4.7.1 Manufacturing and oil & gas industries to contribute to market growth
10.4.8 REST OF ASIA PACIFIC
10.5 ROW
10.5.1 MACROECONOMIC OUTLOOK FOR ROW
10.5.2 MIDDLE EAST
10.5.2.1 Booming oil & gas industry to drive market
10.5.2.2 GCC countries
10.5.2.3 Rest of Middle East
10.5.3 SOUTH AMERICA
10.5.3.1 Increasing investment in industrial infrastructure development to fuel market growth
10.5.4 AFRICA
10.5.4.1 Growing adoption of predictive maintenance approach to ensure uninterrupted operations to boost demand
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020-2024
11.3 REVENUE ANALYSIS, 2019-2023
11.4 MARKET SHARE ANALYSIS, 2023
11.5 COMPANY VALUATION AND FINANCIAL METRICS
11.6 BRAND/PRODUCT COMPARISON
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.7.1 STARS
11.7.2 EMERGING LEADERS
11.7.3 PERVASIVE PLAYERS
11.7.4 PARTICIPANTS
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
11.7.5.1 Company footprint
11.7.5.2 Industry footprint
11.7.5.3 Offering footprint
11.7.5.4 System type footprint
11.7.5.5 Region footprint
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023