Europe Machine Condition Monitoring Market is expected to reach US$ 1,030.2 Mn by 2027

In terms of monitoring technique, vibration monitoring to dominate Europe machine condition monitoring market during 2020–2027

According to our new market research study on “Europe Machine Condition Monitoring Market to 2027 – Regional Analysis and Forecast by monitoring technique, offering, deployment type, monitoring process, end user, and country,” the market is expected to reach US$ 1,030.2 million by 2027 from US$ 686.7 million in 2019; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The objective of integrating machinery with machine condition monitoring solutions is to analyze and actively improve the performance of the machinery. The condition monitoring solutions offered by the providers allow the end users to optimize rotating machinery health. Condition monitoring involves the application of specific hardware, software, or a combination of the two to gather and report data about the performance of various machines. The growth in demand for condition monitoring is directly proportional to an increase in manufacturing facilities. This factor is catalyzing the growth of the machine condition monitoring market.

Vibration monitoring identifies repeated motion of a surface on oscillating or rotating machines. The repeated motion may be due to misalignment, unbalance, resonance, rolling element bearing faults, electrical effects, or various other problems. The numerous vibration frequencies in a rotating machine are closely associated with the machine’s geometry as well as the operating speed. By knowing the correlation among the frequencies and the defect types, vibration analysts can recognize the source and intensity of problem or faults conditions. Also, the machine’s history and the prior degradation pattern is essential in identifying the current as well as future operating condition. The techniques include monitoring of machine conditions such as cracks, pits, and roughness in rolling element bearing component, loose parts, misaligned or damaged gear, the resonance of components, and coupling issues, among others. Vibration monitoring is usually the key element of most condition-based maintenance programs. Though vibration monitoring cannot deliver all of the information required for an effective condition-based maintenance program. It is limited to mechanical condition monitoring and not for other vital parameters essential for maintaining consistency and effectiveness of machinery. Thus, a complete condition-based maintenance program should include additional monitoring as well as diagnostic techniques.

SKF, Emerson Electric Co., General Electric Company, National Instrument Corporation, and Rockwell Automation Inc., are among the leading companies in the Europe machine condition monitoring market. The market players present in the machine condition monitoring market are mainly focusing on product enhancements by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are trying to increase their market share and brand presence. For Instance, in 2019, Schaeffler developed a new system that comprise of the Schaeffler TorqueSense and the Schaeffler SmartCheck offers automated, frequency-selective vibration analysis and temperature, speed, and torque values for condition and system monitoring.

Europe: Machine Condition Monitoring Market, By Country, 2019 and 2027

The report segments the Europe machine condition monitoring market as follows:

By Monitoring Techniques

• Vibration Monitoring
• Thermography
• Oil Analysis
• Corrosion Monitoring
• Ultrasound Emission
• Motor Current Analysis

By Offering

• Hardware
  • Vibration Sensor
  • Proximity Probes
  • Tachometer
  • Infrared Sensors
  • Spectrometer
  • Ultrasound Detectors
  • Corrosion Probe
  • Others
• Software

By Deployment Type

• On-premise
• Cloud

By Monitoring Process

• Online Condition Monitoring
• Portable Condition Monitoring

By End User

• Oil & Gas
• Power Generation
• Automotive
• Aerospace & Defense
• Food & Beverage
• Manufacturing
• Others

By Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe