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Vibration Monitoring Trends and Forecast
The future of the global vibration monitoring market looks promising with opportunities in the oil and gas, energy and power, metals and mining, chemical, automotive, aerospace and defense, and food and beverage markets. The global vibration monitoring market is expected to reach an estimated $2.5 billion by 2030 with a CAGR of 6.6% from 2024 to 2030. The major drivers for this market are constant technological progress to provide increasingly affordable and efficient solutions for vibration monitoring, rising embrace of wireless systems in the realm of machine condition monitoring, and growing adoption of machine learning and big data analytics.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Vibration Monitoring by Segment
The study includes a forecast for the global vibration monitoring by offering, system, monitoring process, end use industry, and region.
Vibration Monitoring Market by Offering [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
• Services
Vibration Monitoring Market by System [Shipment Analysis by Value from 2018 to 2030]:
• Embedded
• Vibration Analyzers
• Vibration Meters
Vibration Monitoring Market by Monitoring Process [Shipment Analysis by Value from 2018 to 2030]:
• Online
• Portable
Vibration Monitoring Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Oil and Gases
• Energy and Power
• Metals and Mining
• Chemicals
• Automotive
• Aerospace and Defense
• Food and Beverages
• Others
Vibration Monitoring Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Vibration Monitoring Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies vibration monitoring companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the vibration monitoring companies profiled in this report include-
• SKF
• Emerson Electric
• General Electric
• Rockwell Automation
• Honeywell International
• Schaeffler Technologies
• Analog Devices
Vibration Monitoring Market Insights
Lucintel forecasts that hardware will remain the largest segment over the forecast period because the vibration monitoring system incorporates hardware components such as sensors, transmitters, accelerometers, and proximity probes, which helps in detecting elevated levels of vibration in rotary machines enhancing the overall accuracy of the monitoring system.
Within this market, oil and gas will remain the largest segment over the forecast period because of growing challenge of managing the high operational expenses in oil and gas plants led to greater adoption of vibration monitoring systems and solutions to ensure the continuous efficient operation of vital assets while minimizing downtime.
APAC will remain the highest growing region over the forecast period due to government regulations pertaining to workplace and personnel safety, as well as a heightened emphasis on maximizing asset utilization and enforcing rigorous quality control standards within the oil and gas, chemical, and food and beverage industries in the region.
Features of the Global Vibration Monitoring Market
Market Size Estimates: Vibration monitoring market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Vibration monitoring market size by various segments, such as by offering, system, monitoring process, end use industry, and region in terms of ($B).
Regional Analysis: Vibration monitoring market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different offerings, systems, monitoring process, end use industries, and regions for the vibration monitoring market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the vibration monitoring market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the vibration monitoring market size?
Answer: The global vibration monitoring market is expected to reach an estimated $2.5 billion by 2030.
Q.2 What is the growth forecast for vibration monitoring market?
Answer: The global vibration monitoring market is expected to grow with a CAGR of 6.6% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the vibration monitoring market?
Answer: The major drivers for this market are constant technological progress to provide increasingly affordable and efficient solutions for vibration monitoring, rising embrace of wireless systems in the realm of machine condition monitoring, and growing adoption of machine learning and big data analytics.
Q4. What are the major segments for vibration monitoring market?
Answer: The future of the vibration monitoring market looks promising with opportunities in the oil and gas, energy and power, metals and mining, chemical, automotive, aerospace and defense, and food and beverage markets.
Q5. Who are the key vibration monitoring market companies?
Answer: Some of the key vibration monitoring companies are as follows:
• SKF
• Emerson Electric
• General Electric
• Rockwell Automation
• Honeywell International
• Schaeffler Technologies
• Analog Devices
Q6. Which vibration monitoring market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the largest segment over the forecast period because the vibration monitoring system incorporates hardware components such as sensors, transmitters, accelerometers, and proximity probes, which helps in detecting elevated levels of vibration in rotary machines enhancing the overall accuracy of the monitoring system.
Q7. In vibration monitoring market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the highest growing region over the forecast period due to government regulations pertaining to workplace and personnel safety, as well as a heightened emphasis on maximizing asset utilization and enforcing rigorous quality control standards within the oil and gas, chemical, and food and beverage industries in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the vibration monitoring market by offering (hardware, software, and services), system (embedded, vibration analyzers, and vibration meters), monitoring process (online and portable), end use industry (oil and gases, energy and power, metals and mining, chemicals, automotive, aerospace and defense, food and beverages, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Vibration Monitoring Market, Vibration Monitoring Market Size, Vibration Monitoring Market Growth, Vibration Monitoring Market Analysis, Vibration Monitoring Market Report, Vibration Monitoring Market Share, Vibration Monitoring Market Trends, Vibration Monitoring Market Forecast, Vibration Monitoring Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Vibration Monitoring Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Vibration Monitoring Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Vibration Monitoring Market by Offering
3.3.1: Hardware
3.3.2: Software
3.3.3: Services
3.4: Global Vibration Monitoring Market by System
3.4.1: Embedded
3.4.2: Vibration Analyzers
3.4.3: Vibration Meters
3.5: Global Vibration Monitoring Market by Monitoring Process
3.5.1: Online
3.5.2: Portable
3.6: Global Vibration Monitoring Market by End Use Industry
3.6.1: Oil and Gases
3.6.2: Energy and Power
3.6.3: Metals and Mining
3.6.4: Chemicals
3.6.5: Automotive
3.6.6: Aerospace and Defense
3.6.7: Food and Beverages
3.6.8: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Vibration Monitoring Market by Region
4.2: North American Vibration Monitoring Market
4.2.2: North American Vibration Monitoring Market by End Use Industry: Oil and Gases, Energy and Power, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, and Others
4.3: European Vibration Monitoring Market
4.3.1: European Vibration Monitoring Market by Offering: Hardware, Software, and Services
4.3.2: European Vibration Monitoring Market by End Use Industry: Oil and Gases, Energy and Power, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, and Others
4.4: APAC Vibration Monitoring Market
4.4.1: APAC Vibration Monitoring Market by Offering: Hardware, Software, and Services
4.4.2: APAC Vibration Monitoring Market by End Use Industry: Oil and Gases, Energy and Power, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, and Others
4.5: ROW Vibration Monitoring Market
4.5.1: ROW Vibration Monitoring Market by Offering: Hardware, Software, and Services
4.5.2: ROW Vibration Monitoring Market by End Use Industry: Oil and Gases, Energy and Power, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Vibration Monitoring Market by Offering
6.1.2: Growth Opportunities for the Global Vibration Monitoring Market by System
6.1.3: Growth Opportunities for the Global Vibration Monitoring Market by Monitoring Process
6.1.4: Growth Opportunities for the Global Vibration Monitoring Market by End Use Industry
6.1.5: Growth Opportunities for the Global Vibration Monitoring Market by Region
6.2: Emerging Trends in the Global Vibration Monitoring Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Vibration Monitoring Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Vibration Monitoring Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: SKF
7.2: Emerson Electric
7.3: General Electric
7.4: Rockwell Automation
7.5: Honeywell International
7.6: Schaeffler Technologies
7.7: Analog Devices
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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