Global Vibration Monitoring Market Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 17, 2018--The “Global Vibration Monitoring Market - Segmented by Type, System Type, Monitoring Process, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global vibration monitoring market was valued at USD 1105.9 million in 2017, and is expected to reach a value of USD 1519.1 million by 2023, at a CAGR of 5.56 %, during the forecast period 2018-2023.
Industries, such as oil & gas, power, chemical & petrochemical, cement, and pharmaceutical, among others, have to abide by stringent international policies that dictate process efficiency, ergonomics, and employee safety. A large volume of toxic gasses & chemicals, such as polyaromatic hydrocarbons, ethylene, benzene, propylene, hydrogen sulfide, butadiene, butane, and sulfur, are generated as byproducts during manufacturing processes.
Predictive maintenance techniques are designed for various verticals to determine the condition of equipment in order to predict when maintenance is required and where it should be performed. This technique promises cost savings or time-based maintenance when tasks are performed. Vibration monitoring is the most effective and efficient technique in checking high-speed rotating equipment. Implementing vibration monitoring across manufacturing operations has further strengthened, which can provide assistance in reducing energy consumption.
The U.S. has more than 900,000 active oil & gas wells in the United States, with more than 130,000 being drilled, since 2010. Moreover, President Trump has mentioned about the plan to double down on the oil & gas industry, lifting regulations and drilling on federal land.
Companies MentionedRockwell Automation Inc General Electric Corporation National Instruments Corporation Bruel & Kjaer Sound & Vibration Measurement Emerson Electric Company Honeywell International Inc. Meggit PLC Analog Devices Inc. SPM Instrument AB Schaeffler AG PCB Piezotronics Inc. Azima DLI Corporation Data Physics Corporation
Key Topics Covered:
2. Research Approach and Methodology
3. Market Insights
4. Market Dynamics
5. Technology Snapshot
6. Global Vibration Monitoring Market Segmentation
7. Competitive Intelligence - Company Profiles
8. Investment Analysis
9. Future Outlook of Vibration Monitoring Market
For more information about this report visit https://www.researchandmarkets.com/research/9zrlbw/global_vibration?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180517005784/en/
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Related Topics:Mechanical Engineering
INDUSTRY KEYWORD: MANUFACTURING ENGINEERING
SOURCE: Research and Markets
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PUB: 05/17/2018 09:24 AM/DISC: 05/17/2018 09:24 AM