Condition Monitoring Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Condition Monitoring Equipment Market is segmented by Type (Hardware (Vibration Monitoring Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa)), Thermography Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa)), Lubricating Oil Analysis Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa))), Software, Services). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.

Condition Monitoring Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Condition Monitoring Equipment Industry Overview

The condition monitoring equipment Market is moderately concentrated and growing with the presence of major players like Rockwell Automation Inc., Emerson Electric Co., Meggitt PLC, General Electric Company, and SKF. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

In August 2022, Perkin Elmer announced that it entered an agreement with New Mountain Capital to divest its Analytical and Enterprise Solutions businesses, which, upon completion, was to result in the creation of excellent opportunities for growth and strategic advancement.

In July 2022, General Electric Company announced plans to become three independent and publicly traded businesses focusing on healthcare, energy, and aviation, where new names also reflect a new beginning. GE's healthcare business will be called GE HealthCare. GE's existing portfolio of energy businesses, including Renewable Energy, Power, Digital, and Energy Financial Services, will sit together under the brand name GE Vernova. GE Aerospace will be the name of GE's aviation business.

In May 2022, SKF launched SKF Axios. This solution reinvented industrial machine reliability and predictive maintenance based on a collaboration between SKF and Amazon Web Services Inc. In addition, SKF was to display SKF Axios at the AWS booth at Hannover Messe 2022.

Condition Monitoring Equipment Market Leaders

  1. Rockwell Automation Inc.

  2. Emerson Electric Co.

  3. Meggitt PLC

  4. General Electric Company

  5. SKF

  6. *Disclaimer: Major Players sorted in no particular order
Condition Monitoring Equipment Market Concentration

Condition Monitoring Equipment Market Report Snapshots

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