Summary

The global vibration monitoring market size is expected to grow from USD 1.85 billion in 2024 to USD 2.69 billion by 2029, at a CAGR of 7.8% from 2024 to 2029. The rising interest in cloud platforms and their adoption offer enterprises new business capabilities and opportunities. Currently, enterprises require advanced machines equipped with advanced maintenance technologies to avoid any reduction or interruption in production. These enterprises also require monitoring the health of manufacturing equipment in real-time, thereby leading to the employment of diagnostic technologies for machine tools.
"Chemical segment is projected to grow at an impressive CAGR during the forecast period.”
Chemical processing plants have machines that are vulnerable to failure and unplanned downtime, with the added risk of harmful impact on the environment. Several types of process equipment are used in chemical plants, including boilers, turbines, motors, conveyors, dryers, evaporators, feeders, filters, generators, heat exchangers, mixers, packaging equipment, pumps, reactors, tanks, and valves. A prolonged process interruption can lead to production losses. Most equipment in the chemical processing industry have standard couplings, gearboxes, and rolling element bearings. Thus, the implementation of appropriate protection, prediction, and performance monitoring systems is essential for the profitability of chemical manufacturing plants. Vibration monitoring systems and solutions are used in chemical plants to monitor various chemical processes.
"The market in Europe is expected to hold significant market share during the forecast period."
Germany is one of the key countries in Europe. The country has a strong automotive manufacturing base. The Government of Germany has undertaken an ambitious Industry 4.0 project to computerize its process industries to increase resource efficiency and industrial output. The technological base for this project is cyber-physical systems, cloud computing, and the Internet of Things. Its goal is to increase digitalization through smart factories and loT. The increasing use of intelligent sensing technologies and Industry 4.0 has significantly enhanced the condition monitoring processes in Germany. Industry 4.0 helps to digitize industrial processes and improve plant efficiency.
Breakdown of the profiles of primary participants:
• By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
• By Designation: C-level Executives - 45%, Directors - 35%, and Others - 20%
• By Region: North America - 40%, Europe - 30%, Asia Pacific - 20%, and RoW – 10%
Major players profiled in this report are as follows: Baker Hughes Company (US), Honeywell International Inc (US), Emerson Electric Co. (US), SKF (Sweden), Schaeffler AG (Germany), Parker Hannifin Corp (US), Rockwell Automation (US), Analog Devices, Inc. (US), ALS (Australia), Teledyne FLIR LLC (US), and Others.

Research Coverage
The vibration monitoring market has been classified by offering, monitoring process, deployment type, system type, industry, and region. The market by offering has been classified into hardware, software, and services. The monitoring process segment is divided into online and portable. The system type segment is divided into on-premises and cloud. The deployment type segment is divided into on-premises and cloud. The market has been divided into oil & gas, power generation, mining & metals, chemicals, automotive, aerospace, food & beverages, other industries by industry segment. The study also forecasts the market size in four key regions—North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report provides insights on the following pointers:
 Analysis of key drivers ( Rising adoption of wireless communication technology to avoid unplanned shutdowns, Growing use of cloud computing platforms to monitor industrial equipment health, Rising predictive maintenance need in industrial area, Rising development of smart manufacturing to drive vibration monitoring adoption, Benefits associated with vibration monitoring systems), restraints (lack of trust issues associated in prediction capabilities of vibration monitoring systems, Lack of availability of trained resources for data analysis), opportunities (Rising interest towards big data analytics and machine learning, Rising collaborations and partnerships among different market players, Rising interest toward Industrial Internet of Things (IIoT)), and challenges (Unavailability of expertise at remote locations, Additional expenses associated with retrofitting existing systems, System integration issues), influencing the growth of the vibration monitoring market.
Product Development/Innovation: Detailed insights on new products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the vibration monitoring market.
Market Development: Comprehensive information about lucrative markets – the report analyses the vibration monitoring market across regions such as North America, Europe, Asia Pacific, and RoW.
Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the vibration monitoring market.
Competitive Assessment: In-depth assessment of market position, growth strategies, and product offerings of leading players like Baker Hughes Company (US), Emerson Electric Co. (US), SKF (Sweden), Schaeffler AG (Germany), Parker Hannifin Corp (US), and among others in the vibration monitoring market.
Strategies: The report also helps stakeholders understand the pulse of the vibration monitoring market and provides information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 24
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY CONSIDERED 27
1.5 UNIT CONSIDERED 27
1.6 STAKEHOLDERS 27
1.7 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY AND PRIMARY RESEARCH 30
2.1.2 SECONDARY DATA 31
2.1.2.1 List of key secondary sources 31
2.1.2.2 Key data from secondary sources 31
2.1.3 PRIMARY DATA 32
2.1.3.1 List of primary interview participants 32
2.1.3.2 Key data from primary sources 32
2.1.3.3 Key industry insights 33
2.1.3.4 Breakdown of primaries 33
2.2 MARKET SIZE ESTIMATION METHODOLOGY 34
2.2.1 TOP-DOWN APPROACH 34
2.2.1.1 Approach to arrive at market size using top-down analysis
(supply side) 34
2.2.2 BOTTOM-UP APPROACH 35
2.2.2.1 Approach to arrive at market size using bottom-up analysis
(demand side) 35
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 37
2.4 RESEARCH ASSUMPTIONS 38
2.5 RESEARCH LIMITATIONS 39
2.6 RISK ANALYSIS 39
3 EXECUTIVE SUMMARY 40
 
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN VIBRATION MONITORING MARKET 44
4.2 VIBRATION MONITORING MARKET, BY OFFERING 45
4.3 VIBRATION MONITORING MARKET, BY INDUSTRY 45
4.4 VIBRATION MONITORING MARKET IN NORTH AMERICA, BY INDUSTRY AND COUNTRY 46
4.5 VIBRATION MONITORING MARKET, BY COUNTRY 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
5.2.1 DRIVERS 48
5.2.1.1 Rising adoption of wireless communication technology to optimize operational efficiency 48
5.2.1.2 Growing use of cloud computing platforms to monitor industrial equipment health 48
5.2.1.3 Rapid transition from preventive to predictive maintenance approach 49
5.2.1.4 Surging adoption of automation and smart manufacturing techniques 50
5.2.1.5 Increasing awareness regarding benefits of vibration monitoring systems 50
5.2.2 RESTRAINTS 51
5.2.2.1 Trust issues related to prediction capabilities of vibration monitoring systems 51
5.2.2.2 Shortage of trained resources 52
5.2.3 OPPORTUNITIES 52
5.2.3.1 Increasing use of big data analytics and machine learning technologies 52
5.2.3.2 Rising focus of established players on collaborations and partnerships with technology and software solution providers 53
5.2.4 CHALLENGES 54
5.2.4.1 Additional expenses associated with retrofitting existing systems 54
5.2.4.2 System integration issues 54
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 55
5.4 PRICING ANALYSIS 56
5.4.1 AVERAGE SELLING PRICE TREND OF VIBRATION MONITORING HARDWARE 56
5.4.2 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY HARDWARE 57
5.4.3 AVERAGE SELLING PRICE TREND OF VIBRATION MONITORING HARDWARE,
BY REGION 58
5.5 VALUE CHAIN ANALYSIS 59
5.6 ECOSYSTEM ANALYSIS 61
5.7 INVESTMENT AND FUNDING SCENARIO 63
 
5.8 TECHNOLOGY ANALYSIS 63
5.8.1 KEY TECHNOLOGIES 63
5.8.1.1 IoT 63
5.8.2 COMPLEMENTARY TECHNOLOGIES 64
5.8.2.1 Cloud computing 64
5.8.3 ADJACENT TECHNOLOGIES 65
5.8.3.1 AI 65
5.9 PATENT ANALYSIS 66
5.10 TRADE ANALYSIS 68
5.10.1 IMPORT SCENARIO (HS CODE 903190) 68
5.10.2 EXPORT SCENARIO (HS CODE 903190) 69
5.11 KEY CONFERENCES AND EVENTS, 2024–2025 70
5.12 CASE STUDY ANALYSIS 70
5.12.1 STEEL ROLLING MILL DEPLOYED ONLINE VIBRATION MONITORING SYSTEM TO PREVENT BEARING FAILURE 70
5.12.2 EMERSON ELECTRIC INSTALLED VIBRATION TRANSMITTER IN BARKING POWER STATION TO REDUCE PLANT DOWNTIME 71
5.12.3 TWI DEVELOPED ADVANCED CONDITION MONITORING SYSTEM TO IMPROVE WIND TURBINE MACHINERY RELIABILITY 71
5.13 REGULATORY LANDSCAPE 72
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 72
5.13.2 STANDARDS 73
5.14 PORTER’S FIVE FORCES ANALYSIS 74
5.14.1 BARGAINING POWER OF SUPPLIERS 75
5.14.2 BARGAINING POWER OF BUYERS 75
5.14.3 THREAT OF NEW ENTRANTS 76
5.14.4 THREAT OF SUBSTITUTES 76
5.14.5 INTENSITY OF COMPETITIVE RIVALRY 76
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
5.15.2 BUYING CRITERIA 77
5.16 IMPACT OF AI/GEN AI ON VIBRATION MONITORING MARKET 78
5.16.1 INTRODUCTION 78
5.16.2 VIBRATION MONITORING MARKET POTENTIAL IN KEY INDUSTRIES 78
5.16.2.1 Oil & gas 78
5.16.2.2 Power generation 79
5.16.3 AI USE CASES IN VIBRATION MONITORING 79
5.16.4 KEY COMPANIES IMPLEMENTING/ADAPTING AI 80
5.16.5 FUTURE OF GENERATIVE AI IN VIBRATION MONITORING ECOSYSTEM 80
 
6 APPLICATIONS OF VIBRATION MONITORING SYSTEMS 81
6.1 INTRODUCTION 81
6.2 PUMPS 81
6.3 MOTORS 82
6.4 CHILLERS 82
6.5 FANS 82
6.6 COMPRESSORS 83
6.7 TURBINES 83
6.8 BEARINGS 83
6.9 OTHER APPLICATIONS 83
7 VIBRATION MONITORING MARKET, BY OFFERING 84
7.1 INTRODUCTION 85
7.2 HARDWARE 86
7.2.1 VIBRATION ANALYZERS 89
7.2.1.1 Portability and handheld features to drive adoption 89
7.2.2 VIBRATION METERS 90
7.2.2.1 Simplicity and convenience features to boost deployment 90
7.2.3 ACCELEROMETERS 90
7.2.3.1 Capacitive sensing ability and need to detect source of vibration to fuel segmental growth 90
7.2.4 PROXIMITY PROBES 90
7.2.4.1 Requirement to measure displacements of physical devices to foster segmental growth 90
7.2.5 VELOCITY SENSORS 91
7.2.5.1 Ability to record low- and medium-frequency measurements to boost demand 91
7.2.6 VIBRATION TRANSMITTERS 91
7.2.6.1 Need to gather vibration-related information in hard-to-reach locations to spike demand 91
7.2.7 OTHER HARDWARE TYPES 91
7.3 SOFTWARE 92
7.3.1 ON-PREMISES 93
7.3.1.1 Rising adoption by SMEs for simplified data management to support segmental growth 93
7.3.2 CLOUD-BASED 94
7.3.2.1 Lower initial investment to accelerate adoption 94
7.4 SERVICES 95
7.4.1 TRAINING AND SUPPORT SERVICES TO CONTRIBUTE MOST TO SEGMENTAL GROWTH 95
 
8 VIBRATION MONITORING MARKET, BY SYSTEM TYPE 96
8.1 INTRODUCTION 97
8.2 ONLINE 98
8.2.1 NEED FOR REAL-TIME MACHINERY HEALTH INFORMATION TO CONTRIBUTE TO MARKET GROWTH 98
8.3 PORTABLE 99
8.3.1 EMERGENCE OF LOW-COST PORTABLE VIBRATION MONITORING SOLUTIONS TO DRIVE MARKET 99
9 VIBRATION MONITORING MARKET, BY INDUSTRY 101
9.1 INTRODUCTION 102
9.2 OIL & GAS 104
9.2.1 STRONG FOCUS ON REDUCING UNPLANNED OUTAGES IN OIL & GAS PLANTS TO DRIVE ADOPTION 104
9.3 POWER GENERATION 106
9.3.1 RAPID TRANSITIONING TO RENEWABLE ENERGY SOURCES TO CREATE OPPORTUNITIES 106
9.4 METALS & MINING 108
9.4.1 RISING DEMAND FOR REMOTE DIAGNOSTICS OF PORTABLE AND FIXED MINING ASSETS TO SUPPORT MARKET GROWTH 108
9.5 CHEMICALS 111
9.5.1 SIGNIFICANT FOCUS ON INCREASING PLANT PROFITABILITY AND REDUCING OPERATING COSTS TO FUEL MARKET GROWTH 111
9.6 AUTOMOTIVE 113
9.6.1 GROWING ADOPTION OF IIOT AND DIGITAL TECHNOLOGIES TO FOSTER MARKET GROWTH 113
9.7 AEROSPACE 115
9.7.1 SURGING DEPLOYMENT OF SMART FACTORY SOLUTIONS AND ONLINE VIBRATION MONITORING TO ACCELERATE DEMAND 115
9.8 FOOD & BEVERAGES 118
9.8.1 ELEVATING NEED TO MAINTAIN OPTIMAL EQUIPMENT CONDITION AND ENSURE QUALITY STANDARDS TO DRIVE MARKET 118
9.9 OTHER INDUSTRIES 120
10 VIBRATION MONITORING MARKET, BY REGION 123
10.1 INTRODUCTION 124
10.2 NORTH AMERICA 127
10.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 127
10.2.2 US 130
10.2.2.1 Rising use of Industry 4.0 and smart manufacturing to drive market 130
10.2.3 CANADA 131
10.2.3.1 Thriving oil & gas and aerospace industries to support market growth 131
10.2.4 MEXICO 131
10.2.4.1 Increasing adoption of automation in industrial plants to fuel market growth 131
10.3 EUROPE 131
10.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 132
10.3.2 GERMANY 135
10.3.2.1 Rising adoption of digitalization to accelerate market growth 135
10.3.3 UK 136
10.3.3.1 Inclination toward smart manufacturing to contribute to market growth 136
10.3.4 FRANCE 136
10.3.4.1 Elevating use of automation to foster demand 136
10.3.5 ITALY 136
10.3.5.1 Increasing industrial safety concerns to drive adoption 136
10.3.6 SPAIN 137
10.3.6.1 Considerable focus on workplace safety and environmental sustainability to fuel demand 137
10.3.7 REST OF EUROPE 137
10.4 ASIA PACIFIC 137
10.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 137
10.4.2 CHINA 141
10.4.2.1 Increasing labor costs to boost adoption 141
10.4.3 JAPAN 142
10.4.3.1 Growing use of automation in automotive industry to fuel market growth 142
10.4.4 INDIA 142
10.4.4.1 Make in India initiative to support market growth 142
10.4.5 SOUTH KOREA 142
10.4.5.1 Growing deployment of robotics in manufacturing plants to drive market 142
10.4.6 SINGAPORE 143
10.4.6.1 Surging focus of manufacturers on improving operational efficiency and reducing plant downtime to drive market 143
10.4.7 MALAYSIA 143
10.4.7.1 Manufacturing and oil & gas industries to contribute to market growth 143
10.4.8 REST OF ASIA PACIFIC 143
10.5 ROW 143
10.5.1 MACROECONOMIC OUTLOOK FOR ROW 143
10.5.2 MIDDLE EAST 146
10.5.2.1 Booming oil & gas industry to drive market 146
10.5.2.2 GCC countries 146
10.5.2.3 Rest of Middle East 147
10.5.3 SOUTH AMERICA 147
10.5.3.1 Increasing investment in industrial infrastructure development to fuel market growth 147
 
10.5.4 AFRICA 147
10.5.4.1 Growing adoption of predictive maintenance approach to ensure uninterrupted operations to boost demand 147
11 COMPETITIVE LANDSCAPE 148
11.1 INTRODUCTION 148
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 148
11.3 REVENUE ANALYSIS, 2019–2023 150
11.4 MARKET SHARE ANALYSIS, 2023 151
11.5 COMPANY VALUATION AND FINANCIAL METRICS 153
11.6 BRAND/PRODUCT COMPARISON 154
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 154
11.7.1 STARS 154
11.7.2 EMERGING LEADERS 154
11.7.3 PERVASIVE PLAYERS 155
11.7.4 PARTICIPANTS 155
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 156
11.7.5.1 Company footprint 156
11.7.5.2 Industry footprint 157
11.7.5.3 Offering footprint 158
11.7.5.4 System type footprint 159
11.7.5.5 Region footprint 160
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 161
11.8.1 PROGRESSIVE COMPANIES 161
11.8.2 RESPONSIVE COMPANIES 161
11.8.3 DYNAMIC COMPANIES 161
11.8.4 STARTING BLOCKS 161
11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 163
11.8.5.1 Detailed list of key startups/SMEs 163
11.8.5.2 Competitive benchmarking of key startups/SMEs 163
11.9 COMPETITIVE SCENARIO 164
11.9.1 PRODUCT LAUNCHES 164
11.9.2 DEALS 165
 
12 COMPANY PROFILES 166
12.1 KEY PLAYERS 166
12.1.1 BAKER HUGHES COMPANY 166
12.1.1.1 Business overview 166
12.1.1.2 Products/Solutions/Services offered 168
12.1.1.3 Recent developments 168
12.1.1.3.1 Deals 168
12.1.1.4 MnM view 169
12.1.1.4.1 Key strengths/Right to win 169
12.1.1.4.2 Strategic choices 169
12.1.1.4.3 Weaknesses/Competitive threats 169
12.1.2 EMERSON ELECTRIC CO. 170
12.1.2.1 Business overview 170
12.1.2.2 Products/Solutions/Services offered 172
12.1.2.3 Recent developments 172
12.1.2.3.1 Product launches 172
12.1.2.4 MnM view 173
12.1.2.4.1 Key strengths/Right to win 173
12.1.2.4.2 Strategic choices 173
12.1.2.4.3 Weaknesses/Competitive threats 173
12.1.3 SKF 174
12.1.3.1 Business overview 174
12.1.3.2 Products/Solutions/Services offered 176
12.1.3.3 Recent developments 177
12.1.3.3.1 Product launches 177
12.1.3.3.2 Deals 177
12.1.3.4 MnM view 178
12.1.3.4.1 Key strengths/Right to win 178
12.1.3.4.2 Strategic choices 178
12.1.3.4.3 Weaknesses/Competitive threats 178
12.1.4 SCHAEFFLER AG 179
12.1.4.1 Business overview 179
12.1.4.2 Products/Solutions/Services offered 180
12.1.4.3 Recent developments 181
12.1.4.3.1 Product launches 181
12.1.4.4 MnM view 181
12.1.4.4.1 Key strengths/Right to win 181
12.1.4.4.2 Strategic choices 181
12.1.4.4.3 Weaknesses/Competitive threats 181
 
12.1.5 PARKER HANNIFIN CORP 182
12.1.5.1 Business overview 182
12.1.5.2 Products/Solutions/Services offered 183
12.1.5.3 MnM view 183
12.1.5.3.1 Key strengths/Right to win 183
12.1.5.3.2 Strategic choices 183
12.1.5.3.3 Weaknesses/Competitive threats 183
12.1.6 HONEYWELL INTERNATIONAL INC. 184
12.1.6.1 Business overview 184
12.1.6.2 Products/Solutions/Services offered 185
12.1.7 ROCKWELL AUTOMATION 186
12.1.7.1 Business overview 186
12.1.7.2 Products/Solutions/Services offered 188
12.1.7.3 Recent developments 188
12.1.7.3.1 Deals 188
12.1.8 ANALOG DEVICES, INC. 189
12.1.8.1 Business overview 189
12.1.8.2 Products/Solutions/Services offered 190
12.1.9 ALS 191
12.1.9.1 Business overview 191
12.1.9.2 Products/Solutions/Services offered 192
12.1.10 TELEDYNE FLIR LLC 193
12.1.10.1 Business overview 193
12.1.10.2 Products/Solutions/Services offered 193
12.2 OTHER PLAYERS 194
12.2.1 IFM ELECTRONIC GMBH 194
12.2.2 FLUKE CORPORATION 195
12.2.3 PCB PIEZOTRONICS, INC. 196
12.2.4 SPM INSTRUMENT AB 197
12.2.5 ADASH 198
12.2.6 BRÜEL & KJÆR VIBRO GMBH 199
12.2.7 ANHUI RONDS SCIENCE & TECHNOLOGY INCORPORATED COMPANY 200
12.2.8 ERBESSD INSTRUMENTS 201
12.2.9 ISTEC INTERNATIONAL 202
12.2.10 PETASENSE INC. 202
12.2.11 MACHINE SAVER 203
12.2.12 KCF 203
12.2.13 STI VIBRATION MONITORING INC. 204
12.2.14 HANSFORD SENSORS 204
12.2.15 MONITRAN 205
 
13 ADJACENT AND RELEVANT MARKETS 206
13.1 INTRODUCTION 206
13.2 TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION 206
13.3 NORTH AMERICA 207
13.3.1 US 209
13.3.1.1 Rising adoption by IT & telecom and aerospace & defense companies to fuel market growth 209
13.3.2 CANADA 210
13.3.2.1 Extensive manufacturing base to create opportunities 210
13.3.3 MEXICO 210
13.3.3.1 Escalating demand for automobiles and electronic products to drive market 210
14 APPENDIX 211
14.1 INSIGHTS FROM INDUSTRY EXPERTS 211
14.2 DISCUSSION GUIDE 211
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 215
14.4 CUSTOMIZATION OPTIONS 217
14.5 RELATED REPORTS 217
14.6 AUTHOR DETAILS 218