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Vibration Monitoring Equipment Market – Global Industry Forecast 2015 – 2023

Vibration Monitoring Equipment Market – Global Industry Forecast 2015 – 2023

Vibration monitoring systems are used to decrease the operating cost of a plant by reducing its maintenance cost and the instances of unplanned outages. These systems are also utilized for the optimization of various maintenance activities during planned shutdowns. The usage of vibration monitoring equipment is growing exponentially in various applications and industrial segments owing to its capability of detecting the possible failure of machinery in advance. The equipment can further detect various machine deterioration and faults before the introduction of any symptoms in the system such as heat, sound, lubricant impurities and higher electrical consumption. Currently, vibration monitoring is considered to be most preferred condition monitoring tool and hence a crucial part of condition monitoring program.

The rising need to reduce plant operating cost across various industrial domains is one of the major factors driving the global vibration monitoring equipment market. With rising competition, plant maintenance expenditures and increasing energy costs, the demand for vibration monitoring equipment is increasing in order to optimize the maintenance budgets and reduce the pressure on operating expenses. Furthermore, the growing capital investments in different industries such as petrochemicals, metals, chemicals, heavy equipment manufacturing, and pulp & paper, among others is contributing to the overall growth of the market. In addition, the rising focus on asset productivity and utilization is driving the market growth worldwide. Moreover, the need for eliminating unnecessary maintenance costs and catastrophic breakdowns in different production processes is expected to drive the demand the global adoption of vibration equipment market during the forecast period. Furthermore, the rising importance of predictive maintenance programs against the backdrop of tight liquidity is creating added pressure on fixed and variable expenses and cost efficiency, thereby encouraging the demand of vibration equipment market. The introduction of advanced low-cost vibration monitoring equipment which are integrated with direct communication procedures, fast processing functions and the availability of automation software foresee tremendous growth for the market in future.

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The global vibration monitoring equipment market is segmented on the basis of product types, component types, application types and by geographical region. On the basis of product types, the market is segmented into portable and non-portable equipment. By component, the market is segmented into proximity probe, and accelerometer among others. The vibration monitoring equipment are utilized in a wide range of applications such as automotive, metal & mining, aerospace & defense, and metal & mining, among others. Geographically, U.S. is expected to lead the market during the forecast period followed by Europe and Asia Pacific owing to the introduction of vast range of automotive products and development of fast-paced technologies. Asia Pacific is expected to grab a major chunk of the market owing to continuous business expansion and infrastructure development, especially in emerging nations such as China and India.

Some of the key players in the Vibration Monitoring Equipment market include Azima DLI Corporation, Analog Devices, Inc., Emerson Electric Co., Bruel & Kjaer Sound & Vibration Measurement A/S, General Electric Company, Meggitt PLC, Honeywell International, Inc., National Instruments Corporation, SPM Instrument, Rockwell Automation, Inc., PCB Piezotronics Inc., Scientific Monitoring Inc., Data Physics Corporation, and SKF Condition Monitoring Inc., among others.

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