Vibration Monitoring Equipment Market boosted by growing industrial maintenance costs

Press Release   •   Nov 23, 2016 12:14 EST

The Vibration Monitoring Equipment Market deals with the development, manufacture and distribution of vibration measuring instruments. The process of monitoring and measuring the condition of a machine according to various parameters is called condition monitoring. One such parameter under condition monitoring is vibration measurement.

The vibration measuring instruments are utilized in major industries for the safety and proactive maintenance of the respective equipment. A vibration measurement instrument has the ability to predict problems or failures three months ahead of schedule.

Scope & Regional Forecast of the Vibration Monitoring Equipment Market

The primary growth drivers for the Vibration Monitoring Equipment Market are: manufacturing industries leaning towards predictive maintenance rather than preventive, increasing dependency on automation and a growing need for superior maintenance technology.

Reduction of manufacturing costs is the overall objective for every industry. A globalized world leads to an increase demand. The need to quench this demand has forced industries to raise their energy consumption and operating equipment quantitatively. This is where a vibration monitoring system is useful for optimizing maintenance expenses as well as lowering production costs.

The Vibration Monitoring Equipment Market has also made the most of tight liquidity problems among most industries. This forces manufacturers to anticipate problems or expenses well in advance. Hence, a vibration measurement system, which includes components like vibration measurement and vibration analysis, is extremely useful in sorting tricky financial plans.

The Vibration Monitoring Equipment Market also anticipates a growing need for the complete eradication of sudden machinery breakdowns or inefficient production costs. Constant use of vibration monitoring services, which includes a vibration analyzer, which are complete integrated communication systems allow remote checkups and faster maintenance. Greater dependency on automation is set to boost demand for vibration monitoring services on a large scale.

The Vibration Monitoring Equipment Market is currently dominated by the North America and Europe owing to their technologically superior manufacturing environments. But, future demand is expected to come from Asia-Pacific as tightening climate change regulations are set to make industries more energy conscious and proactive in reducing production costs.

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Segmentations & Key Players involved in the Vibration Monitoring Equipment Market

According to IndustryARC findings, the Vibration Monitoring Equipment Market can be broken down into various segmentations on the basis of –

Component: Accelerometer, Eddy Current Proximity Probe and Others.

Application: Aerospace & Defense, Automotive, Oil & Gas, Energy & Power, Metal & Mining, Chemicals, Marine and Others.

Some of the key players involved in the Vibration Monitoring Equipment Market according to IndustryARC are as follows:

  • SPM Instrument AB
  • Azima DLI Corporation
  • Meggitt PLC
  • National Instruments Corporation
  • Analog Device, Inc.

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