Read the story here. Advertise at Before It's News here.
Profile image
By Janelliamartin
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Key Market Dynamics in Machine Condition Monitoring Market

% of readers think this story is Fact. Add your two cents.

The global machine condition monitoring market size is projected to grow from USD 2.6 billion in 2021 to USD 3.6 billion by 2026; it is expected to grow at a CAGR of 7.1% from 2021 to 2026. The growth of the machine condition monitoring market is majorly driven by significance of remote operations owing to spread of COVID-19, advent of secure cloud computing platforms used for machine condition monitoring, adoption of wireless communication technology in machine condition monitoring, inclination toward predictive maintenance of industrial machinery, and deployment of automated condition monitoring technologies in smart factories.

Download PDF Brochure @

Vibration monitoring held the largest share of the machine condition monitoring market in 2020. Vibration monitoring is a widely used predictive maintenance technique as it can detect faults in machines at an early stage before repairs are required. It can also identify the exact location of faults in machines. Decreasing prices of vibration sensors and wireless systems have made vibration monitoring the most preferred technique for machine condition monitoring. Ease of data analysis and one-time installation are other factors driving the growth of the vibration monitoring segment of the market. Oil and gas, energy and power, automotive, pulp and paper, food and beverages, and chemicals are key industries impacted by the COVID-19. Vibration monitoring systems are predominantly used in the aforementioned industries, with oil and gas, automotive, and power generation being the significant end users of these systems.

Oil and gas segment is expected hold the largest share in the machine condition monitoring market during the forecast period. The industry has been emphasizing increasing its profitability owing to the rising pressure of high operating costs of oil and gas plants. Machine condition monitoring ensures uninterrupted operations of production machinery with minimized downtime; this helps reduce maintenance costs and increase the productivity of the machinery used in oil and gas plants. Though the oil and gas industry accounted for the largest share of the machine condition monitoring market in 2020, there was a sharp decline in oil prices owing to the COVID-19 in the same year. This may adversely affect the deployment of new machine condition monitoring systems and solutions in the oil and gas industry in 2021, as the industry is expected to start recovering this year, and the deployment of new machine condition monitoring systems and solutions will result in increased expenses for oil and gas companies.

Inquiry Before Buying @

Machine condition monitoring market in APAC is expected to grow at the highest CAGR during 2021−2026. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the machine condition monitoring market in this region. The expansion of manufacturing activities as a result of the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, is driving the demand for machine condition monitoring systems and solutions in the region.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.