Vibration
monitoring systems are used to decrease the operating cost of a
plant by reducing its maintenance cost and the instances of unplanned
outages. These systems are also utilized for the optimization of
various maintenance activities during planned shutdowns. The usage of
vibration monitoring equipment is growing exponentially in various
applications and industrial segments owing to its capability of
detecting the possible failure of machinery in advance. The equipment
can further detect various machine deterioration and faults before
the introduction of any symptoms in the system such as heat, sound,
lubricant impurities and higher electrical consumption. Currently,
vibration monitoring is considered to be most preferred condition
monitoring tool and hence a crucial part of condition monitoring
program.
The
rising need to reduce plant operating cost across various industrial
domains is one of the major factors driving the global vibration
monitoring equipment market. With rising competition, plant
maintenance expenditures and increasing energy costs, the demand for
vibration monitoring equipment is increasing in order to optimize the
maintenance budgets and reduce the pressure on operating expenses.
Furthermore, the growing capital investments in different industries
such as petrochemicals, metals, chemicals, heavy equipment
manufacturing, and pulp & paper, among others is contributing to
the overall growth of the market. In addition, the rising focus on
asset productivity and utilization is driving the market growth
worldwide. Moreover, the need for eliminating unnecessary maintenance
costs and catastrophic breakdowns in different production processes
is expected to drive the demand the global adoption of vibration
equipment market during the forecast period. Furthermore, the rising
importance of predictive maintenance programs against the backdrop of
tight liquidity is creating added pressure on fixed and variable
expenses and cost efficiency, thereby encouraging the demand of
vibration equipment market. The introduction of advanced low-cost
vibration monitoring equipment which are integrated with direct
communication procedures, fast processing functions and the
availability of automation software foresee tremendous growth for the
market in future.
The
global vibration monitoring equipment market is segmented on the
basis of product types, component types, application types and by
geographical region. On the basis of product types, the market is
segmented into portable and non-portable equipment. By component, the
market is segmented into proximity probe, and accelerometer among
others. The vibration monitoring equipment are utilized in a wide
range of applications such as automotive, metal & mining,
aerospace & defense, and metal & mining, among others.
Geographically, U.S. is expected to lead the market during the
forecast period followed by Europe and Asia Pacific owing to the
introduction of vast range of automotive products and development of
fast-paced technologies. Asia Pacific is expected to grab a major
chunk of the market owing to continuous business expansion and
infrastructure development, especially in emerging nations such as
China and India.
Some
of the key players in the Vibration Monitoring Equipment market
include Azima DLI Corporation, Analog Devices, Inc., Emerson Electric
Co., Bruel & Kjaer Sound & Vibration Measurement A/S, General
Electric Company, Meggitt PLC, Honeywell International, Inc.,
National Instruments Corporation, SPM Instrument, Rockwell
Automation, Inc., PCB Piezotronics Inc., Scientific Monitoring Inc.,
Data Physics Corporation, and SKF Condition Monitoring Inc., among
others.
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