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Vibration Monitoring Market Forecast Report 2020-2026: Industry Revenue and Outlook by Component, Application & Key Players

Author : Ronak Bora | Published Date : 2020-09-15 

Vibration monitoring market is likely to be driven by growing demand for accuracy and precision in product manufacturing across industries. The advent of modern factories worldwide has fueled the integration of technologies, such as AI, IoT and smart sensors, that are enhancing the performance of various monitoring systems.

The integration of technology in smart factories has enabled smooth exchange of information from critical machinery to plant operators to process visualization in real-time scenario. Vibration monitoring system are poised to witness substantial adoption across critical plants that are working continuously and are highly susceptible to defects.

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Vibration monitoring chiefly applies to machines which rotate - like compressors, turbines, pumps, fans, and motors. In addition to this, by installing vibration detection equipment like seismic sensors or alignment sensors, users can start a baseline value as well as monitor for variations from that particular baseline. If any irregularities are detected, appropriate steps could be taken prior to failure of the machinery. Also, analyzing vibration metrics permits teams to detect any loosely connected components, misalignment, or bearing wear in devices before failure.

Some major findings of the vibration monitoring market report include:

  • Hardware products are significantly contributing to growth of the vibration monitoring market owing to their accuracy and high performance in harsh environments. In October 2019, Bruel & Kajaer Vibro announced the launch of a fully integrated transmitter for vibration monitoring and shaft displacement capability for harsh industrial environment.
  • The online vibration monitoring system is considerably surging in the market owing to its wide adoption in critical plants that are working continuously and are highly susceptible to defects. These are widely used in industries such as energy & power and oil & gas.
  • The rising concern toward predictive maintenance to enhance machine functionality and safety will increase the adoption of vibration monitoring system
  • Vibration analyzers will experience significant growth opportunities in the market owing their efficient failure identifying capability and technological features such as high frequency range, automatic shutdown, and lightweight
  • Integration of wireless technology into the oil and gas industry to acute real-time information will further add an opportunity for the vibration monitoring market
  • The factors restraining the vibration monitoring market are high installation cost as these systems require several technical resources to analyze and predict the machine condition. Also, the lack of skilled workforce to analyze the vibration data and monitoring process will restrict market growth.
  • Some of the key players operating in the vibration monitoring market include Emerson Electric, General Electric, Honeywell International Inc, National Instruments, AB SKF, Rockwell Automation, Inc, Meggitt, and Analog Devices, Inc
  • The companies are focusing on developing innovative products and are investing in R&D activities to improve their existing offerings and gain a competitive edge in the market

Europe is expected to account for a market share of over 15% in 2019. The growth is majorly due to the established automotive sector in the region and the presence of major auto manufacturers in the region such as Audi, BMW, Volkswagen, Bentley, among others. These companies are experiencing significant increase in the number of units produced every day, thereby require continuous monitoring to reduce machine failure and enhance their production output. According to the European Automobile Manufacturer Association, the number of vehicles produced in 2018 was 16.5 million, with an increase of 1.47% from last five years.

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Companies operating in the vibration monitoring market are focusing on new product development and entering into new strategic alliances, which helps them to expand their offerings and target new industries in developing regions. For instance, in February 2017, Hansford Sensors announced the launch of a new enclosure vibration monitoring. It is a compact & self-contained terminal that accumulates readings from accelerometer through portable data collector.

Table of Contents (ToC) of the report:

Chapter 4.   Vibration Monitoring Market, By Component

4.1.  Key trends, by component

4.2.  Hardware

4.2.1. Market estimates and forecast, 2016 - 2026

4.2.2. Software    Market estimates and forecast, 2016 - 2026

4.2.3. Services    Market estimates and forecast, 2016 – 2026

Chapter 5.   Vibration Monitoring Market, By Monitoring Process

5.1.  Key trends, by monitoring process

5.2.  Online

5.2.1. Market estimates and forecast, 2016 - 2026

5.3.  Portable

5.3.1. Market estimates and forecast, 2016 - 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/vibration-monitoring-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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