Global Vibration Monitoring Equipment Market to Benefit from Rising Demand to Reduce Operating Expenses

Vibration Monitoring Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

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Albany, NY -- (SBWire) -- 02/24/2016 --A new research report on the global vibration monitoring equipment market from Transparency Market Research (TMR) provides a 360-degree view of the market. This report is titled "Vibration Monitoring Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." The research study provides a detailed analysis of the key segments of the global vibration monitoring equipment market.

Broadly, the global vibration monitoring equipment market is segmented on the basis of product type, component, application, and geography. By product type, the global vibration monitoring equipment market is divided into portable and non-portable equipment. According to component, the global vibration monitoring equipment market is classified into accelerometers, proximity probes, and others.

According to application, the global vibration monitoring equipment market is segmented into metal and mining, automotive, aerospace and defense, and others. Regionally, the global vibration monitoring equipment market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). The U.S. is projected to lead the global vibration monitoring equipment market during the forecast period, trailed by Europe and Asia Pacific, due to the introduction of a vast range of automotive products and the development of fast-paced technologies. The report states that in the coming few years, Asia Pacific will occupy a major share in the global vibration monitoring equipment market owing to continuous business expansion and infrastructure development in emerging nations such as India and China.

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The global vibration monitoring equipment market is driven by the several benefits associated with this equipment. These systems cut down the operating cost of a manufacturing plant by decreasing its maintenance cost and reducing the incidence of unplanned outages. These systems are also used to optimize several maintenance activities in case of planned shutdowns. The demand for vibration monitoring equipment is rising exponentially in several application areas due to its capability to detect possible failure of machinery. At present, vibration monitoring is the most preferred condition monitoring tool and is a crucial part of condition monitoring programs.

The demand for vibration equipment is fuelled by several factors such as the increasing competition, rising energy costs, and growing plant maintenance expenditure. In addition to this, the global vibration monitoring equipment market will also benefit from the rising demand for reducing operating expenses. The increasing investments in several industries such as petrochemicals, heavy equipment manufacturing, metals, and pulp and paper are also propelling the global vibration monitoring equipment market.

Players in the global vibration monitoring equipment market will benefit from the expanding investments in the aforesaid industries. The key players operating in the global vibration monitoring equipment market are Emerson Electric, Honeywell International, Analog Devices, Meggitt, Rockwell Automation, Scientific Monitoring, and SKF Condition Monitoring.

About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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