Vibration monitoring solutions have gradually become an integral part of the various industries for carrying out the predictive maintenance program effectively, with an aim to minimize costly breakdowns of machines affecting the production process. The global vibration monitoring market size is projected to be valued at USD 1.5 billion in 2020 to reach USD 2.2 billion by 2025, growing at a CAGR of 7.4% during the forecast period. Factors such as the rising trend of remote monitoring through wireless systems, growing awareness toward predictive maintenance, increasing demand from emerging applications such as heating, ventilation and air conditioning (HAVC), and penetration of smart factories in major regions are driving the growth of the vibration monitoring industry.
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The hardware segment is expected to lead the vibration monitoring market during 2020-2025. Hardware components offered by vibration monitoring solution providers mainly include accelerometers, proximity probes, velocity sensors, and transmitters. These devices are considered to be the main components of vibration monitoring systems. They are the primary source through which the data related to vibration levels in machinery is obtained well in advance. The data extracted by the hardware components enables an effective predictive maintenance program to avoid costly downtime. The vibration monitoring hardware has applications in rotating machinery for motors, pumps, turbines, bearings, fans, broken or bent parts, and shaft alignment.
The online vibration monitoring process is expected to grow at higher CAGR during the forecast period. It is more advanced than portable condition monitoring and provides real-time data to plant operators. This monitoring process is used widely for critical plants that work continuously and are highly prone to defects. Online vibration monitoring systems have applications in industries where 24-hour production is maintained. These systems can detect faults and machine deterioration faster than other indicators, such as heat, sound, electrical consumption, and lubricant impurities.
The vibration monitoring market in APAC is expected to grow at the highest CAGR during 2020-2025. Rapid industrialization, increasing adoption of predictive maintenance tools, and competitive pressure to achieve operational efficiency are fueling the growth of the vibration monitoring market in APAC. The expansion of manufacturing activities as a result of the migration of production bases to Asian countries with low labor costs, such as China, India, and South Korea, is driving the demand for vibration monitoring systems in the region.
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