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Global Machine Condition Monitoring Market Development, Growth and Demand Forecast to 2020

(IT-NEWSWIRE.COM, September 08, 2015 ) Machine condition monitoring is a method of monitoring the condition of a machine with the intent to foretell mechanical wear and failure. The predicted data provides health information of the machine and helps to detect machinery faults timely, which prevents unexpected failure and costly repair of the machine. The machine condition monitoring equipment tracks changes in temperature, vibration, and output of machines in order to detect imbalance, corrosion, wear, misalignment, sediment build-up, or poorly lubricated parts.

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The global machine condition monitoring market can be divided on the basis of products, applications, and components. On the basis of products, the global machine conditioning monitoring market can be segmented, into thermography equipment, vibration monitoring equipment, corrosion monitoring equipment, ultrasound emission equipment, lubricating oil analysis equipment, and motor current signature analysis equipment. The vibration-based condition monitoring equipment holds the leading place amongst all condition-based maintenance technologies. On and off-line vibration monitoring is extensively used by industries to perform continuous production processes. In addition to vibration monitoring, other techniques used for machine condition monitoring comprise, wear analysis, thermography, performance monitoring, degradation by products, and physical testing.

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North America currently dominates the market share of the global machine condition monitoring market, due to its high adoption of machine conditioning. Asia-Pacific is displaying strong growth opportunities for the global machine condition monitoring market, owing to the increasing manufacturing activity and fast-paced infrastructure developments, which is especially fuelled by shifting of production bases from developed nations to low-cost destinations, such as India and China.

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Requirement of asset modifications to retrofit existing systems with machine condition monitoring sensors and unpredictable maintenance cycles, are anticipated to inhibit the market growth of the global machine conditioning market.
Brel & Kjr Vibro GmbH, ClampOn AS, Corrpro Companies, Inc., Data Physics Corporation, AZIMA DLI CORPORATION, Emerson Electric Co., FLIR Systems Inc., General Electric, Honeywell are the major competitors in the global machine condition monitoring market. Some of the other competitors in the global machine condition monitoring market include ITT Corporation, Parker Hannifin Manufacturing Ltd., PCB Group Inc., Rockwell Automation Inc., Rohrback Cosasco Systems, Scientific Monitoring Inc., SHINKAWA Electric Co. Ltd., SKF Condition Monitoring Inc., SPM Instrument, and The Timken Company, among others.

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Porter analysis identifies competitive forces within the market
Provides information on the historical and current market size and the future potential of the market
Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market " Market Research Report to their Database.

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