[322 Pages Report] Machine Condition Monitoring Market categorizes global market by Product (Vibration Monitoring, Thermography, Ultrasound Emission, Lubricating Oil Analysis, Corrosion Monitoring, and Motor Current Signature Analysis), Component, Application, and Geography.lysis, Corrosion Monitoring, and Motor Current Signature Analysis), Component, Application, and Geography.

Dallas, TX -- (SBWire) -- 12/26/2014 --According to a new market research report of the "Machine Condition Monitoring Market by Product (Vibration Monitoring, Thermography, Ultrasound Emission, Lubricating Oil Analysis, Corrosion Monitoring, and Motor Current Signature Analysis), Component, Application, and Geography - Global Forecast to 2013 - 2020", published by MarketsandMarkets, the market is expected to grow at a CAGR of 7.16% from 2014 to 2020, and reach $2.50 Billion in 2020.

The market size for the machine condition monitoring market was $1.54 Billion in 2013, which is expected to grow moderately in the coming years. Some of the major players in the global market 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),among others.

Browse 126 market data tables, 50 figures spread through 322 Pages and in-depth TOC on "Machine Condition Monitoring Market by Product (Vibration Monitoring, Thermography, Ultrasound Emission, Lubricating Oil Analysis, Corrosion Monitoring, and Motor Current Signature Analysis), Component, Application, and Geography - Global Forecast to 2013 – 2020"

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Scope of the report

This research report categorizes the "Machine Condition Monitoring Market" on the basis of different components, products, applications, and geographical analysis; and also forecasts the revenues and analyzes the trends in the market.

On the basis of products

The product segment describe about vibration monitoring equipment, thermography equipment, ultrasound emission equipment, lubricating oil analysis equipment, corrosion monitoring equipment, motor current signature analysis equipment.

On the basis of components

The component segment provide details about Corrosion probes, Spectrometer, Spectrum Analyzer, Thermal Camera, Ultrasonic Detector, Vibration Sensor and others (Software's).

On the basis of applications

Some of the major application areas of the machine condition monitoring are industries such as aerospace & defense, automotive, chemicals, marine, mining, oil & gas, and Power.

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Machine condition monitoring is an uninterrupted assessment of equipment's and machinery. To reduce plant operating costs by reducing maintenance cost, optimizing maintenance activities during planned shutdowns and lowering the instances of unscheduled outages provided need to implement machine condition monitoring system. The market over next few years will be driven by fast-paced technology developments and introduction of innovative products. Development of low-cost advanced condition monitoring equipment, integrated with quick processing functions, direct communication procedures, and improved software will attract tremendous opportunities for the market in coming years.

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