North America Machine Condition Monitoring Market

Market Introduction

Modern machinery operates with the help of numerous smaller parts and components, which wear down, get damaged, and even fail to function over a period. Rotating parts of motors, fans, engines, and several bearing types are common causes of failure; these constantly move as their persistent motion is essential for the machines to be operational. However, continuous movement and external contaminants such as dirt or moisture result in the slowing down of these machines, which sometimes result in failure. The machine condition monitoring products keep a check on the disturbed functioning of parts, followed by detecting the possibilities of failure in future. This generates high demand for these products as their implementation allows the operators to avoid factory downtime caused by machine failure.

Market Overview and Dynamics

The North Americamachine condition monitoring market is expected to reach US$ 1380.9Mn by 2027 from US$ 1004.3 Mn in 2019; the market is anticipated to grow at a CAGR of 4.1 % from 2019 to2027.The increasing demand for automated solutions in manufacturing facilities is among the prime factors driving the market growth. However, the igh cost of maintenance and lifespan of machine condition monitoring systemsis likely to have a negative impact on the market growth.

Key Market Segments

In terms of monitoring techniques, the vibration monitoring segment accounted for the largest share of the North American machine condition monitoring market in 2018. In terms of offerings, the hardwaresegment held a larger share of the market in this region in 2019In terms of deployment, the cloud segment held a larger share of the machine condition monitoring market in North America in 2019 In terms of monitoring process, the portable condition monitoring held a larger share of the North America machine condition monitoring market in 2019In terms of industry, the aerospace & defense segment held the most significant share of the North America machine condition monitoring marketin 2018.

Major Sources and Companies Listed

A few of the major primary and secondary sources referred to while preparing this report on the North America machine condition monitoringmarket are theAssociation of Electrical and Mechanical Trades, Machinery Vibration Specialists, Canadian Machinery Vibration Association, European Association of the Machine Tool Industries (CECIMO), and Association of Electrical and Mechanical Trades.

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NORTH AMERICA MACHINE CONDITION MONITORING MARKET SEGMENTATION

By Monitoring Technique

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

By Offerings

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

By Deployment Type

• On-Premises
• Cloud

By Monitoring Process

• Online Condition Monitoring
• Portable Condition Monitoring

By Industry

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

By Country

• US
• Canada
• Mexico

Company Profiles

• Emerson Electric
• General Electric.
• SKF
• National Instruments
• Honeywell International Inc.
• Als Ltd.
• Meggitt
• Parker Hannifin
• Rockwell Automation
• Schaeffler

North America Machine Condition Monitoring Market Strategic Insights

North America Machine Condition Monitoring Market Segmentation Analysis

North America Machine Condition Monitoring Market Report Highlights

North America Machine Condition Monitoring Report Scope

North America Machine Condition Monitoring Market Country and Regional Insights