Current Trends in Vibration Monitoring Market - IPS Inter Press Service Business

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, 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.

Embedded Systems accounted for the majority of the global vibration monitoring market share in 2019

The embedded systems segment led the vibration monitoring industry in 2019. Effective and continuous monitoring through embedded systems that are installed directly on the machines allows real-time assessment of the machine condition as well as an optimized maintenance program.

Embedded systems are ideal solutions, being the complete and reliable detection and analysis systems for equipment defects, performance shifts, imbalances, and other anomalies. These systems include sensing, analysis, storage, and alarm capability and offer quick notifications related to vibration shifts. Embedded vibration monitoring systems have a demand from industries such as oil & gas, energy & power, metals & mining, and chemicals wherein many assets used during production are critical as they mostly require continuous monitoring.

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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 fields including rotating machinery such as motors, pumps, turbines, bearings, fans, broken or bent parts, and shaft alignment.

The vibration monitoring market for the automotive industry is expected to grow at the highest CAGR during 2020-2025

The global automotive industry is emphasizing on automating and upgrading assembly lines, which require motor monitoring. Motor current signature analysis helps reduce machine failures and extends the life of machines.

The automotive industry is witnessing significant growth in the number of units produced per day. The machinery on the production floor is required to be appropriately maintained to minimize the production cycle and increase production output. Thus, the market for the automotive industry is likely to grow at a significant rate during the forecast period.

APAC to exhibit the highest growth rate during the forecast period

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 industry 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.

Key Market Players
Emerson Electric (US), General Electric (US), Honeywell International (US), SKF (Sweden), National Instruments (US), Meggitt (UK), Rockwell Automation (US), Brel & Kjaer (Denmark), and Analog Devices (US) are some of the major companies operating in the vibration monitoring market.

Tags: Vibration Monitoring Market