According to the market research report “Vibration Monitoring Equipment Market: by Product (Portable, Online & Others), by Component (Accelerometer, Eddy Current Proximity Probe & Others), by Application & by region, forecast (2016-2021)”, published by IndustryARC, estimates to register major growth from Oil & Gas application segment till the end of forecast period.
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Vibration monitoring equipment is a special equipment that is used to record and store the mechanical vibration and signal. Vibration monitoring systems are specially employed for the purpose of decreasing the cost of operation by reducing the occurrences of unplanned outages and maintenance cost. The use of vibration systems across various applications such as aerospace, defense, automotive, Oil & gas, marine and many others has been increasing due to its ability to detect possible failures in advance of any machinery. This factor acts as a major driving growth factor for the Vibration Monitoring Equipment Market.
Scope & Regional Forecast of the Vibration Monitoring Equipment Market
Increasing focus on manufacturing from preventive maintenance to predictive maintenance, growth towards automation and demand towards maintenance technology are the major drivers in the end user sector propelling the demand for the vibration monitoring systems.Technological advancements are leading to increased automation in various sectors.
The technological advancements offer cost reduction of wireless online monitoring systems, automated fault diagnostics, Internet communication capabilities and online monitoring programs are also the factors which will drive significant growth for the Vibration Monitoring Equipment Market, during the forecast period. However, unpredictable maintenance periodsexpected to be the major restraint that may restrict the future growth of the market.
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North America is dominating the Vibration Monitoring Equipment Market, due to high technological developments coupled with various innovations, followed by Europe. Asia-Pacific is estimated to register rapid growth due to growing automation industry, during the forecast period. Oil & Gas is the major application among all the applications, followed by energy & power application segment. The demand for oil condition monitoring equipment is also very high.
Segmentations & Key Players Involved in the Vibration Monitoring Equipment Market
The Vibration Monitoring Equipment Market can be broken down into various segmentations on the basis of –
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Product: Portable Vibration Monitor, Non-Portable Vibration Monitor and Others.
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Component: Accelerometer, Eddy Current Proximity Probe and Others.
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Application: Aerospace & Defense, Automotive, Energy & Power, Oil & Gas, Metal & Mining, Chemicals, Marine and Others.
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Region: Europe, Asia-Pacific, North America and Rest of the World.
Some of the key players involved in the Vibration Monitoring Equipment Market are as follows:
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Emerson Electric Company
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General Electric Corporation
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Honeywell International, Inc.
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National Instruments Corporation
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SPM Instrument AB
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