Global Machine Condition Monitoring Equipment Market to Witness 5% CAGR During 2016 – 2022

machine conditioning.png

The global machine condition monitoring equipment market is expected to grow at a CAGR of 4.5% during 2016 – 2022. Among the various end users, the oil and gas segment accounted for largest share in the global machine condition monitoring equipment market in 2015. The surge in smart factories development, along with the advancement in efficiency and accuracy of machine conditioning component is expected to drive the growth of the machine condition monitoring equipment market during the forecast period.

Over the last few years, asset management and reliability-centered maintenance has witnessed notable growth. In order to cut down the operating expenses, the companies are investing in predictive maintenance technologies for operating their plants more efficiently and productively.

The global machine condition monitoring equipment market is fragmented, with only few larger players operating globally. The entry barrier for new entrants in machine condition monitoring equipment market is fairly low, owing to low capital requirement and significant low proprietary learning curve in machine condition monitoring technologies.

Some of the companies operating in the global machine condition monitoring equipment market include General Electric Company, Corrpro Companies Inc., Emerson Electric Co., Alava Ingenieros Group, AB SKF, Honeywell International Inc., Parker Hannifin Corporation, Rockwell Automation Inc., Azima Dli Corporation, SAJ Engineering and Trading Company, The Timken Company, National Instruments Corporation, Brüel & Kjær Vibro GmbH, and Danaher Corporation.

News Courtesy: P&S Market Research

Advertisements

Post your View

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s