Dallas, TX – The total global revenue of the machine health monitoring market is expected to grow at an estimated CAGR (compound annual growth rate) of 7.16% from 2014-2020, according to a report, The Machine Health Monitoring Market by Product, Component, Application and Geography, Global Forecast 2014 to 2020, from Dallas-based Markets and Markets.
The research firm says machine health monitoring is the best way for maintenance to meet the production requirements in a timely or efficient manner. It is the process of monitoring the health of a machine with the intent to anticipate the mechanical wear and failure. Machine health monitoring is a part of several predictive maintenance techniques.
The report says this market is important as it projects the condition of machinery, which ensures the right maintenance is provided at the right time. Machine health monitoring provides sensory indication that components are functioning under rated capacity and provides a suitable warning if the preset standard conditions and indices are exceeded.
The machine health monitoring market is segmented in terms of product types, such as corrosion monitoring equipment, lubricating oil analysis equipment, motor current signature analysis, thermography equipment, ultrasound emission equipment, and vibration monitoring equipment.
Markets and Markets report on this industry is further segmented into component types, such as corrosion probes, spectrometers, spectrum analyzers, thermal cameras, ultrasonic detectors, vibration sensors, and others (such as software), which are used in machine health monitoring.
Also, the Machine Health Monitoring report is segmented by applications, such as aerospace and defence, automotive, chemicals, marine, mining, oil and gas, and power. The report also provides geographic analysis and estimation for markets across the Americas, Europe, APAC and the ROW.
The report includes the detailed value chain analysis of the machine health monitoring industry. It also provides the Porter’s Five Forces Analysis, with description of each of its forces and their respective impact on the market. The companies included in this report are: AZIMA DLI Corp. (U.S.), Bruel & Kjaer Vibro GmbH (Denmark), Emerson Process Management (U.S.), Fluke Corp. (U.S.), GE (U.S.), Honeywell Process Solution (U.S.), National Instruments (U.S.), Parker Kittiwake (U.K.), Rockwell Automation Inc. (U.S.), SKF (Sweden) and others.
The report, published in June 2014, is 353 pages long and costs US$4,650. For details, visit http://www.reportsnreports.com/reports/290941-machine-health-monitoring-market-by-product-vibration-monitoring-thermography-ultrasound-emission-lubricating-oil-analysis-corrosion-monitoring-motor-current-signature-analysis-component-application-and-geography-global-forecast-to-2014-2020.html.