Condition monitoring (CM) is the process of monitoring a particular condition in machinery (such as vibration, temperature, etc) to identify changes that could indicate a developing fault. It is a major part of predictive maintenance as implementing condition monitoring allows for maintenance to be scheduled and preventive actions taken to prevent further failure and subsequent unplanned downtime. According to market research study published by Gen Consulting Company, the global condition monitoring equipment market stood at around USD 2,004 million in 2021 and is projected to rise to a worth of USD 3,094 million by 2028 end, thereby garnering a CAGR of 6.4% during 2022-2028.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global condition monitoring equipment market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the condition monitoring equipment industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product types, application, and region. The global market for condition monitoring equipment can be segmented by product types: lubricating oil analysis equipment, thermography equipment, vibration condition monitoring equipment, others. In 2021, the vibration condition monitoring equipment segment made up the largest share of revenue generated by the condition monitoring equipment market, accounting for more than 65.2% of the total market. Condition monitoring equipment market is further segmented by application: aerospace and defense, automotive and transportation, manufacturing, oil and gas, power, others. Power was the largest revenue contributor to the global condition monitoring equipment market, representing 26.5% of the market in 2021. During the forecast period, the power segment is projected to witness the highest growth rate. Based on region, the condition monitoring equipment market is segmented into: North America, Asia Pacific, Europe, Rest of the World (ROW).

By product types:
– lubricating oil analysis equipment
– thermography equipment
– vibration condition monitoring equipment
– others

By application:
– aerospace and defense
– automotive and transportation
– manufacturing
– oil and gas
– power
– others

By region:
– North America
– Asia Pacific
– Europe
– Rest of the World (ROW)

The report explores the recent developments and profiles of key vendors in the Global Condition Monitoring Equipment Market, including Baker Hughes Company, Emerson Electric Co., Meggitt S.A., National Instruments Corporation (NI), Rockwell Automation, Inc., SKF AB, among others.
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Historical & Forecast Period
This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report
– To analyze and forecast the market size of the global condition monitoring equipment market.
– To classify and forecast the global condition monitoring equipment market based on product types, application, region.
– To identify drivers and challenges for the global condition monitoring equipment market.
– To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global condition monitoring equipment market.
– To identify and analyze the profile of leading players operating in the global condition monitoring equipment market.

Why Choose This Report
– Gain a reliable outlook of the global condition monitoring equipment market forecasts from 2022 to 2028 across scenarios.
– Identify growth segments for investment.
– Stay ahead of competitors through company profiles and market data.
– The market estimate for ease of analysis across scenarios in Excel format.
– Strategy consulting and research support for three months.
– Print authentication provided for the single-user license.