“The best overall machinery condition monitoring program is one that utilizes multiple and integrated monitoring technologies that are well-suited to detect expected failures. For low-risk machines, condition monitoring or the analysis of monitoring data can be performed by a mechanic or operator using basic monitoring tools. For machines of higher criticality, a certified condition monitoring professional should use the advanced data collection & analysis hardware and software.
Machine condition monitoring is the most preferred predictive maintenance tool in various industries, as through various condition monitoring methods, a monitoring professional can detect, predict, and prevent a wide array of machine and equipment failure. Condition monitoring not only finds various equipment and machinery faults it is also able to accurately point the cause of the machine failure. The global market for machine condition monitoring was valued at USD 1544.0 million in 2014 and is expected to reach around USD 2.450 billion by 2020 at a CAGR of 7.6% between 2015 and 2020. North America leads with more than 45% share of the overall market, followed by Europe; however, APAC is expected to be the fastest-growing markets. One of the key drivers of the market is the widespread transition to predictive maintenance from preventive maintenance in various process industries. Strategies for growth adopted by several players comprised new product developments and agreements, and contracts & partnerships and on others.
The report presents a detailed insight on the current machine condition monitoring equipment market, and identifies key trends of various segments of the market with in-depth quantitative and qualitative information. The report segments the global machine condition monitoring equipment market on the basis of monitoring types, components, monitoring processes, applications, and geography. Further, it contains market size forecasts, and trend analysis Detailed geographic insights with respect to major regions such as North America, APAC, Europe and Rest of the World have been analyzed.
Major players in global machine condition monitoring equipment market are Azima DLI Corporation (U.S), Bruel & Kjaer Sound & Vibration Measurement A/S (Denmark), Emerson Process Management (U.S), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), National Instruments Corporation (U.S.), Rockwell Automation, Inc. (U.S.), SKF (Sweden), and Fluke Corporation (U.S.).
Market Overview and Industry trends, along with Premium Insights and additional qualitative analysis account for the market analysis. The market classification encompasses segmentation & sub-segmentation of the market based on components, monitoring types, monitoring processes, applications, and geography.
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“TABLE OF CONTENTS
1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 15
1.3 MARKETS COVERED 15
1.4 YEARS CONSIDERED FOR THE STUDY 16
1.5 CURRENCY 16
1.6 LIMITATIONS 16
1.7 MARKET STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primaries 20
2.2 DEMAND-SIDE ANALYSIS OF THE MACHINE CONDITION MONITORING MARKET 20
2.2.1 DEMAND-SIDE ANALYSIS 20
2.2.1.1 Aging maintenance workforce 21
2.2.1.2 Increase in automation boosting the demand for machine condition monitoring 21
2.3 MARKET SIZE ESTIMATION 22
2.4 MARKET BREAKDOWN AND DATA TRIANULATION 24
2.5 RESEARCH ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 30
4.1 ATTRACTIVE OPPORTUNITIES IN THE GLOBAL MACHINE CONDITION MONITORING MARKET 30
4.2 MACHINE CONDITION MONITORING MARKET GROWTH, BY MONITORING TYPE 30
4.3 MACHINE CONDITION MONITORING MARKET IN APAC, 2014 31
4.4 MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS 32
4.5 MACHINE CONDITION MONITORING MARKET, BY REGION (2014) 32
5 MARKET OVERVIEW 33
5.1 INTRODUCTION 34
5.2 MARKET SEGMENTATION 34
5.2.1 MARKET BY MONITORING TYPE 34
5.2.2 MARKET BY COMPONENT 35
5.2.3 MARKET BY MONITORING PROCESS 35
5.2.4 MARKET BY APPLICATION 35
5.2.5 MARKET BY GEOGRAPHY 36
5.3 MARKET DYNAMICS 37
5.3.1 DRIVERS 38
5.3.1.1 Transition from preventive to predictive maintenance in process industries 38
5.3.1.2 The use of wireless technology in machine condition monitoring 39
5.3.1.3 Remote monitoring 39
5.3.1.4 Growth in the heating ventilating and air conditioning (HVAC) market 40
5.3.1.5 The growing demand for smart factories 40
5.3.2 RESRTAINTS 42
5.3.2.1 Unpredictable maintenance periods 42
5.3.2.2 The need for asset modification 42
5.3.3 OPPORTUNITIES 43
5.3.3.1 Industrial Internet of things (IIoT) 43
5.3.3.2 Growth in the wind energy market 43
5.3.3.3 Condition monitoring using cloud technology 43
5.3.4 CHALLENGES 45
5.3.4.1 Increased drive to integrate condition monitoring techniques with management systems such as PAM and CMMS 45
5.3.5 BURNING ISSUE 46
5.3.5.1 Online vs. offline conundrum in machine condition monitoring 46
6 INDUSTRY TRENDS 47
6.1 INTRODUCTION 47
6.2 VALUE CHAIN ANALYSIS 47
6.3 INDUSTRY TRENDS 48
6.4 PORTER鈥橲 FIVE FORCES ANALYSIS 49
6.4.1 BARGAINING POWER OF SUPPLIERS 51
6.4.2 BARGAINING POWER OF BUYERS 52
6.4.3 THREAT OF NEW ENTRANTS 53
6.4.4 THREAT OF SUBSTITUTES 54
6.4.5 INTENSITY OF RIVALRY 55
7 MARKET BY MONITORING TYPE 56
7.1 INTRODUCTION 57
7.2 VIBRATION MONITORING 59
7.3 ULTRASOUND EMISSION 60
7.4 THERMOGRAPHY 62
7.5 LUBRICATING OIL ANALYSIS 64
7.6 CORROSION MONITORING 65
7.7 MOTOR CURRENT SIGNATURE ANALYSIS 67
8 MARKET, BY COMPONENT 69
8.1 INTRODUCTION 70
8.2 VIBRATION SENSORS 72
8.2.1 ACCELEROMETER 73
8.2.2 PROXIMITY PROBES 73
8.2.3 TACHOMETER 74
8.3 ULTRASOUND DETECTOR 74
8.4 INFRARED SENSORS 75
8.5 SPECTROMETER 75
8.6 CORROSION PROBES 76
8.7 SPECTRUM ANALYSER 77
8.8 OTHERS 78
9 MARKET, BY APPLICATION 79
9.1 INTRODUCTION 80
9.2 AEROSPACE & DEFENSE 82
9.3 AUTOMOTIVE 84
9.4 CHEMICALS 87
9.5 MARINE 89
9.6 METALS & MINING 91
9.7 OIL & GAS 93
9.8 ENERGY & POWER 95
9.9 OTHERS 97
10 MARKET, BY MONITORING PROCESS 99
10.1 INTRODUCTION 100
10.2 PORTABLE CONDITION MONITORING 101
10.3 ONLINE CONDITION MONITORING 103
11 GEOGRAPHIC ANALYSIS 106
11.1 INTRODUCTION 107
11.2 NORTH AMERICA 108
11.3 EUROPE 111
11.4 APAC 114
11.5 ROW 117
12 COMPETITIVE LANDSCAPE 120
12.1 OVERVIEW 120
12.2 MARKET RANKING ANALYSIS FOR THE MACHINE CONDITION MONITORING MARKET, 2014 121
12.2.1 NEW PRODUCT LAUNCHES 123
12.2.2 CONTRACTS & AGREEMENTS 124
12.2.3 EXPASNIONS & PARTNERSHIPS 124
12.2.4 MERGERS & ACQUISITIONS 125
13 COMPANY PROFILES 126
(Overview, Products and Services, Financials, Strategy & Development)*
13.1 INTRODUCTION 126
13.2 EMERSON PROCESS MANAGEMENT 127
13.3 GENERAL ELECTRIC COMPANY 130
13.4 HONEYWELL INTERNATIONAL INC. 133
13.5 NATIONAL INSTRUMENTS CORPORATION 136
13.6 SKF AB 139
13.7 PARKER HANNIFIN CORPORATION 142
13.8 ROCKWELL AUTOMATION, INC. 144
13.9 BR脺EL & KJAER VIBRO GMBH 146
13.10 AZIMA DLI CORPORATION 148
13.11 FLUKE CORPORATION 150
13.12 SAJ ENGINEERING AND TRADING COMPANY 152
*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies
14 APPENDIX 153
14.1 INSIGHTS OF INDUSTRY EXPERTS 153
14.2 DISCUSSION GUIDE 154
14.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 158
14.4 AVAILABLE CUSTOMIZATIONS 159
14.5 RELATED REPORTS 160
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“LIST OF TABLES
TABLE 1 TRANSITION FROM PREVENTIVE TO PREDICTIVE MAINTENANCE IS THE KEY DRIVER FOR GROWTH OF THE MACHINE CONDITION MONITORING MARKET 41
TABLE 2 UNPREDICTABLE MAINTENANCE PERIODS RESULTING IN DISTURBANCE IN THE ORIGINAL SCHEDULE IS THE MAJOR RESTRAINT IN THE GROWTH OF THE MACHINE CONDITION MONITORING MARKET 42
TABLE 3 INDUSTRIAL INTERNET OF THINGS (IIOT) IS THE KEY OPPORTUNITY IN MACHINE CONDITION MONITORING MARKET 45
TABLE 4 THE INCREASED DRIVE TO INTEGRATE CONDITION MONITORING WITH OTHER MANAGEMENT SYSTEM IS THE MAJOR CHALLENGE IN THE MARKET 45
TABLE 5 INTEGRATION OF CONDITION MONITORING HARDWARE AND SERVICES
IS A LEADING TREND AMONG KEY PLAYERS 48
TABLE 6 MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE,
USD MILLION, (2013-2020) 58
TABLE 7 VIBRATION MONITORING MARKET, BY MONITORING PROCESS,
2013-2020, (USD MILLION) 59
TABLE 8 VIBRATION MONITORING MARKET, BY APPLICATION, 2013-2020 (USD MILLION) 60
TABLE 9 ULTRASOUND EMISSION MONITORING MARKET, BY MONITORING PROCESS,
2013-2020, (USD MILLION) 61
TABLE 10 ULTRASOUND EMISSION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 62
TABLE 11 THERMOGRAPHY MARKET, BY MONITORING PROCESS, 2013-2020 USD MILLION 63
TABLE 12 THERMOGRAPHY MARKET, BY APPLICATION, 2013-2020, (USD MILLION) 63
TABLE 13 LUBRICATING OIL ANALYSIS MARKET, BY MONITORING PROCESS,
2013-2020 (USD MILLION) 64
TABLE 14 LUBRICATING OIL ANALYSIS MARKET, BY APPLICATION,
2013-2020, (USD MILLION) 65
TABLE 15 CORROSION MONITORING MARKET, BY MONITORING PROCESS,
2013-2020 (USD MILLION) 66
TABLE 16 CORROSION MONITORING MARKET, BY APPLICATION, 2013-2020 (USD MILLION) 66
TABLE 17 MOTOR CURRENT SIGNATURE ANALYSIS MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 67
TABLE 18 MOTOR CURRENT SIGNATURE ANALYSIS, BY APPLICATION,
2013-2020 (USD MILLION) 68
TABLE 19 MACHINE CONDITION MONITORING MARKET, BY COMPONENT,
2013-2020 (USD MILLION) 71
TABLE 20 VIBRATION SENSOR MARKET, BY REGION, 2013-2020 (USD MILLION) 72
TABLE 21 ULTRASOUND DETECTOR MARKET, BY REGION, 2013-2020 (USD MILLION) 74
TABLE 22 INFRARED SENSORS MARKET, BY REGION, 2013-2020 (USD MILLION) 75
TABLE 23 SPECTROMETER MARKET, BY REGION, 2013-2020 (USD MILLION) 76
TABLE 24 CORROSION PROBES MARKET, BY REGION, 2013-2020 (USD MILLION) 76
TABLE 25 SPECTRUM ANALYSER MARKET, BY REGION, 2013-2020 (USD MILLION) 77
TABLE 26 OTHERS MARKET, BY REGION, 2013-2020 (USD MILLION) 78
TABLE 27 MACHINE CONDITION MONITORING MARKET BY APPLICATION,
2013-2020 (USD MILLION) 81
TABLE 28 AEROSPACE & DEFENSE: MACHINE CONDITION MONITORING MARKET,
BY REGION, 2013-2020 (USD MILLION) 83
TABLE 29 AEROSPACE & DEFENSE: MACHINE CONDITION MONITORING MARKET,
BY MONITORING PROCESS, 2013-2020 (USD MILLION) 83
TABLE 30 AEROSPACE & DEFENSE: MACHINE CONDITION MONITORING MARKET,
BY MONITORING TYPE, 2013-2020 (USD MILLION) 84
TABLE 31 AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020, (USD MILLION) 85
TABLE 32 AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 86
TABLE 33 AUTOMOTIVE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 86
TABLE 34 CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 87
TABLE 35 CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 88
TABLE 36 CHEMICALS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 88
TABLE 37 MARINE: MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 90
TABLE 38 MARINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 90
TABLE 39 MARINE: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 91
TABLE 40 METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY REGION, 2013-2020 (USD MILLION) 91
TABLE 41 METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 92
TABLE 42 METALS & MINING: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 92
TABLE 43 OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020, (USD MILLION) 93
TABLE 44 OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 94
TABLE 45 OIL & GAS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 94
TABLE 46 ENERGY & POWER: MACHINE CONDITION MONITORING MARKET, BY REGION, 2013-2020 (USD MILLION) 96
TABLE 47 ENERGY & POWER: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020, (USD MILLION) 96
TABLE 48 ENERGY & POWER: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 97
TABLE 49 OTHERS: MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 97
TABLE 50 OTHERS: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 98
TABLE 51 OTHERS: MACHINE CONDITION MONITORING MARKET, BY MONITORING TYPE, 2013-2020 (USD MILLION) 98
TABLE 52 MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS,
2013-2020 (USD MILLION) 100
TABLE 53 PORTABLE CONDITION MONITORING MARKET, BY MONITORING TYPE,
2013-2020 (USD MILLION) 101
TABLE 54 PORTABLE CONDITION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 102
TABLE 55 PORTABLE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 102
TABLE 56 ONLINE CONDITION MONITORING MARKET, BY MONITORING TYPE,
2013-2020, (USD MILLION) 103
TABLE 57 ONLINE CONDITION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 104
TABLE 58 ONLINE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 105
TABLE 59 MACHINE CONDITION MONITORING MARKET, BY REGION,
2013-2020 (USD MILLION) 108
TABLE 60 NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY COUNTRY, 2013-2020 (MILLION USD) 110
TABLE 61 NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 110
TABLE 62 NORTH AMERICA: MACHINE CONDITION MONITORING MARKET, BY APPLICATION, 2013-2020 (USD MILLION) 111
TABLE 63 EUROPE: MACHINE CONDITION MONITORING MARKET, BY COUNTRY,
2013-2020 (USD MILLION) 113
TABLE 64 EUROPE: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 113
TABLE 65 EUROPE: MACHINE CONDITION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 114
TABLE 66 APAC: MACHINE CONDITION MONITORING MARKET, BY COUNTRY,
2013-2020 (USD MILLION) 116
TABLE 67 APAC: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 116
TABLE 68 APAC: MACHINE CONDITION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 117
TABLE 69 ROW: MACHINE CONDITION MONITORING MARKET, BY COUNTRY,
2013-2020 (USD MILLION) 118
TABLE 70 ROW: MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2013-2020 (USD MILLION) 119
TABLE 71 ROW: MACHINE CONDITION MONITORING MARKET, BY APPLICATION,
2013-2020 (USD MILLION) 119
TABLE 72 NEW PRODUCT LAUNCHES, 2014-2015 123
TABLE 73 CONTRACTS & AGREEMENTS, 2012-2013 124
TABLE 74 EXPANSIONS & PARTNERSHIPS, 2012-2013 124
TABLE 75 MERGER & ACQUISITIONS 125
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“LIST OF FIGURES
FIGURE 1 MACHINE CONDITION MONITORING: RESEARCH DESIGN 17
FIGURE 2 MACHINE CONDITION MONITORING EQUIPMENT SALES, 2002-2009 21
FIGURE 3 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 22
FIGURE 4 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH 23
FIGURE 5 MARKET BREAKDOWN & DATA TRIANGULATION 24
FIGURE 6 AEROSPACE & DEFENSE IS ESTIMATED TO GROW RAPIDLY DURING THE FORECAST PERIOD 27
FIGURE 7 VIBRATION MONITORING EXPECTED TO REMAIN THE MOST USED MONITORING TYPE BY 2020 27
FIGURE 8 ONLINE MONITORING EXPECTED TO WITNESS HIGH GROWTH RATE DURING
THE FORECAST PERIOD 28
FIGURE 9 ASIA-PACIFIC EXPECTED TO WITNESS HIGHEST GROWTH IN THE MACHINE CONDITION MONITORING MARKET DURING THE FORECAST PERIOD 29
FIGURE 10 REAL-TIME MONITORING IS THE KEY TO GAIN COMPETITIVE ADVANTAGE 30
FIGURE 11 VIBRATION MONITORING EXPECTED TO ACCOUNT FOR LARGEST SHARE DURING THE FORECAST PERIOD 30
FIGURE 12 CHINA HELD THE LARGEST SHARE OF THE MACHINE CONDITION MONITORING MARKET IN APAC 31
FIGURE 13 ONLINE CONDITION MONITORING EXPECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 32
FIGURE 14 NORTH AMERICA HAD THE LARGEST MARKET FOR BOTH PORTABLE AND ONLINE CONDITION MONITORING IN 2014 32
FIGURE 15 TRANSITION FROM PREVENTIVE TO PREDICTIVE MAINTENANCE A MAJOR GROWTH DRIVER OF THE FOR MACHINE CONDITION MONITORING MARKET 37
FIGURE 16 MACHINERY EQUIPMENT CONDITION DURING PROCESS FLOW 38
FIGURE 17 REMOTE MONITORING OF A MACHINE 40
FIGURE 18 CLOUD TECHNOLOGY IN MACHINE CONDITION MONITORING 44
FIGURE 19 VALUE CHAIN ANALYSIS 47
FIGURE 20 PORTER鈥橲 FIVE FORCES ANALYSIS 49
FIGURE 21 PORTER鈥橲 FIVE FORCES IMPACT ANALYSIS, 2014 50
FIGURE 22 BARGAINING POWER OF SUPPLIERS IN THE MACHINE CONDITION MONITORING MARKET, 2014 51
FIGURE 23 BARGAINING POWER OF BUYERS IN THE MACHINE CONDITION MONITORING MARKET, 2014 52
FIGURE 24 THREAT OF NEW ENTRANTS IN THE MACHINE CONDITION MONITORING
MARKET, 2014 53
FIGURE 25 THREAT OF SUBSTITUTES IN THE MACHINE CONDITION MONITORING
MARKET, 2014 54
FIGURE 26 INTENSITY OF RIVALRY IN THE MACHINE CONDITION MONITORING MARKET, 2014 55
FIGURE 27 MACHINE CONDITION MONITORING, BY MONITORING TYPE 57
FIGURE 28 VIBRATION MONITORING IS EXPECTED TO OCCUPY LARGEST MARKET IN 2015 58
FIGURE 29 ONLINE CONDITION MONITORING IS A WIDELY USED PROCESS FOR ULTRASOUND EMISSION MONITORING 61
FIGURE 30 MOTOR CURRENT SIGNATURE ANALYSIS IS EXPECTED TO REGISTER HIGHEST GROWTH IN AEROSPACE & DEFENSE 68
FIGURE 31 MACHINE CONDITION MARKET, BY COMPONENT 70
FIGURE 32 VIBRATION SENSOR IS ESTIMATED TO BE THE MAJOR COMPONENT USED IN MACHINE CONDITION MONITORING EQUIPMENT DURING THE FORECAST PERIOD 72
FIGURE 33 MACHINE CONDITION MONITORING MARKET, BY APPLICATION 80
FIGURE 34 THE MARKET FOR AEROSPACE & DEFENSE IS EXPECTED TO GROW
AT THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD 82
FIGURE 35 ONLINE CONDITION MONITORING TO EXHIBIT PROMISING GROWTH IN THE AUTOMOTIVE SECTOR DURING THE FORECAST PERIOD 85
FIGURE 36 MARINE CONDITION MONITORING IN ASIA-PACIFIC IS EXPECTED TO GROW
AT THE HIGHEST RATE DURING THE FORECAST PERIOD 89
FIGURE 37 NORTH AMERICA IS THE LARGEST MARKET FOR THE CONDITION MONITORING EQUIPMENT IN THE ENERGY & POWER SECTOR 95
FIGURE 38 ONLINE CONDITION MONITORING IS A WIDELY ADOPTED MONITORING PROCESS BY END USERS 100
FIGURE 39 AEROSPACE & DEFENSE TO EXHIBIT A HIGH GROWTH POTENTIAL FOR ONLINE CONDITION MONITORING MARKET DURING THE FORECAST PERIOD 104
FIGURE 40 MACHINE CONDITION MONITORING MARKET SNAPSHOT BETWEEN
2015 AND 2020 107
FIGURE 41 NORTH AMERICA: MARKET SNAPSHOT 109
FIGURE 42 EUROPE: MARKETNAPSHOT 112
FIGURE 43 APAC: MARKET SNAPSHOT 115
FIGURE 44 ROW MARKET SNAPSHOT 118
FIGURE 45 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT AS THE KEY GROWTH STRATEGY 120
FIGURE 46 TOTAL REVENUE GROWTH OF MAJOR PLAYERS IN CONDITION MONITORING
(2012-2014) 122
FIGURE 47 BATTLE FOR MARKET SHARE: NEW PRODUCT LAUNCH WAS THE KEY STRATEGY 122
FIGURE 48 GEOGRAPHIC MIX OF KEY MARKET PLAYERS 126
FIGURE 49 EMERSON PROCESS MANAGEMENT: COMPANY SNAPSHOT 127
FIGURE 50 EMERSON PROCESS MANAGEMENT: SWOT ANALYSIS 129
FIGURE 51 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 130
FIGURE 52 GENERAL ELECTRIC COMPANY: SWOT ANALYSIS 132
FIGURE 53 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 133
FIGURE 54 HONEYWELL INTERNATIONAL INC.: SWOT ANALYSIS 135
FIGURE 55 NATIONAL INSTRUMENTS CORPORATION: COMPANY SNAPSHOT 136
FIGURE 56 NATIONAL INSTRUMENTS CORPORATION: SWOT ANALYSIS 138
FIGURE 57 SKF AB: COMPANY SNAPSHOT 139
FIGURE 58 SKF AB: SWOT ANALYSIS 141
FIGURE 59 PARKER HANNIFIN CORPORATION: COMPANY SNAPSHOT 142
FIGURE 60 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT 144
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