Market Overview:
The global machine condition monitoring sensors market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for industrial automation and the rising need for predictive maintenance across various industries. Based on type, the global machine condition monitoring sensors market can be segmented into online and portable sensors. The online sensors segment is expected to account for a larger share of the market in 2018 owing to their ability to provide real-time data about machine health and performance. Based on application, the global machine condition monitoring sensors market can be divided into oil & gas, power generation, metals & mining, chemicals, automotive, aerospace & defense, food & beverages marine and others segments. The oil & gas sector is expected to account for a major share of this market in 2018 due its growing demand for energy worldwide coupled with stringent government regulations mandating preventive maintenance practices.
Product Definition:
Machine condition monitoring sensors are devices that are used to detect and monitor the condition of various machines. These sensors can be used to monitor things such as machine vibration, temperature, oil pressure, and more. By using these sensors, businesses can proactively detect issues with their machines before they become a problem and cause downtime or other issues.
Online:
Online is a method of collecting data in which the sensor measurements are transmitted to and processed by software, then displayed on a screen. Online systems can be used for continuous monitoring or one-time measurement applications. The most common use of online sensors is in process control and automation systems where they are used to measure parameters such as temperature, pressure, flow rate etc., which need real-time monitoring.
Portable:
The portable devices are used to monitor the machine condition and provide alerts when there is a problem. It can be used for preventive maintenance or diagnostic purposes. The market size of this industry is expected to grow at a CAGR of XX% from 2018 - 2025.
Preventive maintenance reduces the downtime by identifying problems before they occur, which in turn increases profitability and customer satisfaction level.
Application Insights:
The oil & gas segment dominated the global machine condition monitoring sensors market in 2017 and is expected to witness significant growth over the forecast period. This can be attributed to growing demand for crude oil as a raw material from various regions, including Africa and Middle East. The power generation segment is also projected to witness considerable growth over the next six years owing to increasing electricity consumption across various industries, such as mining and construction.
In terms of revenue, the automotive sector accounted for USD 536 million in 2017 due to high product demand from major manufacturers globally. Furthermore, stringent regulations on maintaining equipment reliability are anticipated fuel industry-related machines manufacturing activities globally over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for condition monitoring sensors from end-use industries such as oil and gas, power generation, and manufacturing. In addition, rising investments by governments in developing countries are anticipated to drive product demand over the next eight years.
The Asia Pacific region is characterized by a large number of manufacturers with modest production capabilities who have outsourced their manufacturing activities to low-cost countries such as China and Taiwan. This has resulted in high competition among regional players that are trying hard to enhance their profit margins through cost reduction strategies or capacity expansion/acquisition strategies undertaken alone or together with other industry participants.
The Middle East & Africa market was valued at USD X million in 2017 owing both volume.
Growth Factors:
- Increasing demand from the automotive industry for advanced machine condition monitoring sensors to improve safety and efficiency.
- Growing popularity of predictive maintenance techniques that use machine condition monitoring sensors data to prevent equipment failures and downtime.
- Proliferation of IIoT and Industry 4.0, which is creating new opportunities for machine condition monitoring sensors in factories and other industrial settings.
- Rapid advancements in sensor technology, making it possible to deploy more sophisticated machine condition monitoring sensors at a lower cost than ever before.
Scope Of The Report
Report Attributes
Report Details
Report Title
Machine Condition Monitoring Sensors Market Research Report
By Type
Online, Portable
By Application
Oil & Gas, Power Generation, Metals & Mining, Chemicals, Automotive, Aerospace & Defense, Food & Beverages, Marine, Others
By Companies
3D Signals, ALS, Analog Devices, Azima Dli, Bruel & Kjaer, Emerson Electric, Flir Systems, Fluke, Honeywell, 3D Signals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
222
Number of Tables & Figures
156
Customization Available
Yes, the report can be customized as per your need.
Global Machine Condition Monitoring Sensors Market Report Segments:
The global Machine Condition Monitoring Sensors market is segmented on the basis of:
Types
Online, Portable
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Power Generation, Metals & Mining, Chemicals, Automotive, Aerospace & Defense, Food & Beverages, Marine, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 3D Signals
- ALS
- Analog Devices
- Azima Dli
- Bruel & Kjaer
- Emerson Electric
- Flir Systems
- Fluke
- Honeywell
- 3D Signals
Highlights of The Machine Condition Monitoring Sensors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Online
- Portable
- By Application:
- Oil & Gas
- Power Generation
- Metals & Mining
- Chemicals
- Automotive
- Aerospace & Defense
- Food & Beverages
- Marine
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Machine Condition Monitoring Sensors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Machine condition monitoring sensors are used to detect and monitor the health of a machine. They can be used to identify problems early, so they can be fixed before they cause serious damage.
Some of the key players operating in the machine condition monitoring sensors market are 3D Signals, ALS, Analog Devices, Azima Dli, Bruel & Kjaer, Emerson Electric, Flir Systems, Fluke, Honeywell, 3D Signals.
The machine condition monitoring sensors market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Machine Condition Monitoring Sensors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Machine Condition Monitoring Sensors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Machine Condition Monitoring Sensors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Machine Condition Monitoring Sensors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Machine Condition Monitoring Sensors Market Size & Forecast, 2018-2028
4.5.1 Machine Condition Monitoring Sensors Market Size and Y-o-Y Growth
4.5.2 Machine Condition Monitoring Sensors Market Absolute $ Opportunity
Chapter 5 Global Machine Condition Monitoring Sensors Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Machine Condition Monitoring Sensors Market Size Forecast by Type
5.2.1 Online
5.2.2 Portable
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Machine Condition Monitoring Sensors Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Machine Condition Monitoring Sensors Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Power Generation
6.2.3 Metals & Mining
6.2.4 Chemicals
6.2.5 Automotive
6.2.6 Aerospace & Defense
6.2.7 Food & Beverages
6.2.8 Marine
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Machine Condition Monitoring Sensors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Machine Condition Monitoring Sensors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Machine Condition Monitoring Sensors Analysis and Forecast
9.1 Introduction
9.2 North America Machine Condition Monitoring Sensors Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Machine Condition Monitoring Sensors Market Size Forecast by Type
9.6.1 Online
9.6.2 Portable
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Machine Condition Monitoring Sensors Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Power Generation
9.10.3 Metals & Mining
9.10.4 Chemicals
9.10.5 Automotive
9.10.6 Aerospace & Defense
9.10.7 Food & Beverages
9.10.8 Marine
9.10.9 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Machine Condition Monitoring Sensors Analysis and Forecast
10.1 Introduction
10.2 Europe Machine Condition Monitoring Sensors Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Machine Condition Monitoring Sensors Market Size Forecast by Type
10.6.1 Online
10.6.2 Portable
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Machine Condition Monitoring Sensors Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Power Generation
10.10.3 Metals & Mining
10.10.4 Chemicals
10.10.5 Automotive
10.10.6 Aerospace & Defense
10.10.7 Food & Beverages
10.10.8 Marine
10.10.9 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Machine Condition Monitoring Sensors Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Machine Condition Monitoring Sensors Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Machine Condition Monitoring Sensors Market Size Forecast by Type
11.6.1 Online
11.6.2 Portable
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Machine Condition Monitoring Sensors Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Power Generation
11.10.3 Metals & Mining
11.10.4 Chemicals
11.10.5 Automotive
11.10.6 Aerospace & Defense
11.10.7 Food & Beverages
11.10.8 Marine
11.10.9 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Machine Condition Monitoring Sensors Analysis and Forecast
12.1 Introduction
12.2 Latin America Machine Condition Monitoring Sensors Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Machine Condition Monitoring Sensors Market Size Forecast by Type
12.6.1 Online
12.6.2 Portable
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Machine Condition Monitoring Sensors Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Power Generation
12.10.3 Metals & Mining
12.10.4 Chemicals
12.10.5 Automotive
12.10.6 Aerospace & Defense
12.10.7 Food & Beverages
12.10.8 Marine
12.10.9 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Machine Condition Monitoring Sensors Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Machine Condition Monitoring Sensors Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Machine Condition Monitoring Sensors Market Size Forecast by Type
13.6.1 Online
13.6.2 Portable
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Machine Condition Monitoring Sensors Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Power Generation
13.10.3 Metals & Mining
13.10.4 Chemicals
13.10.5 Automotive
13.10.6 Aerospace & Defense
13.10.7 Food & Beverages
13.10.8 Marine
13.10.9 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Machine Condition Monitoring Sensors Market: Competitive Dashboard
14.2 Global Machine Condition Monitoring Sensors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 3D Signals
14.3.2 ALS
14.3.3 Analog Devices
14.3.4 Azima Dli
14.3.5 Bruel & Kjaer
14.3.6 Emerson Electric
14.3.7 Flir Systems
14.3.8 Fluke
14.3.9 Honeywell
14.3.10 3D Signals
