Machine Condition Monitoring Market - Forecasts from 2025 to 2030

The machine condition monitoring market will grow at a CAGR of 8% to be valued at US$4.144 billion in 2030 from US$2.821 billion in 2025.

The machine condition monitoring market is growing steadily due to its ability to prevent machine failure and save costly repair expenditure. Repairing cost involves direct cost, such as part replacement, and collateral cost like environmental cleanup or legal fees, which might strain company finances. Employment of condition monitors helps in prevention to a great extent. The booming automation market is providing huge potential for the business. Emerging industrial IoT and data analytics sectors have significant potential. However, unpredictable maintenance periods may constrain the market.

Geographically, the market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific regions. North America holds a substantial market share throughout the forecast period, propelled by the booming automotive and oil and gas industries. In the U.S., the oil and gas sector sustains 10.3 million jobs and contributes 8% to GDP, depending on condition monitoring systems to avert incidents like the 2019 Enbridge pipeline explosion in Ohio caused by corrosion. Cutting-edge technological advancements, robust infrastructure, newly discovered reserves, and the presence of major industry players further fuel market growth in this region.

Meanwhile, the Asia Pacific region is experiencing notable growth, driven by the expansion of manufacturing industries that create promising opportunities. Increasing disposable incomes are also boosting demand in the automotive and construction sectors, contributing to the region's rapid market development.

Some of the major players covered in this report include Emerson Electric Co., SKF Group, General Electric, Siemens AG, Honeywell International Inc., Rockwell Automation, Inc., Fluke Corporation, National Instruments (NI), Parker Hannifin Corporation, and Schaeffler Group among others.

Key Benefits of this Report:

Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.

What do businesses use our reports for?

Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Machine Condition Monitoring Market Segmentations:

Machine Condition Monitoring Market Segmentation by type

The market is analyzed by type into the following:

Vibration Monitoring Systems
Thermography Systems
Oil Analysis Systems
Ultrasound Testing Systems
Corrosion Monitoring Systems
Motor Current Analysis Systems
Others

Machine Condition Monitoring Market Segmentation by component

The report analyzes the market by components as below:

Hardware
Software
Services

Machine Condition Monitoring Market Segmentation by application

The market is analyzed by application into the following:

Predictive Maintenance
Equipment Diagnostics
Quality Assurance
Energy Efficiency Monitoring
Safety and Compliance
Others

Machine Condition Monitoring Market Segmentation by end-user industry

The report analyzes the market by end-user segment as below:

Manufacturing
Oil and Gas
Power Generation
Aerospace and Defense
Automotive
Mining and Metals
Chemicals and Petrochemicals
Others

Machine condition monitoring Market Segmentation by regions:

The study also analysed the machine condition monitoring market into the following regions, with country level forecasts and analysis as below:

North America (US, Canada, and Mexico)
South America (Brazil, Argentina, and Others)
Europe (Germany, UK, France, Spain, Italy , and Others)
Middle East and Africa (Saudi Arabia, UAE, and Others)
Asia Pacific (China, Japan, India, South Korea, Thailand, Indonesia, and Others)

Machine condition monitoring Market Report Coverage:

This report provides extensive coverage as explained in the points below:

Market size, forecasts, and trends by different types, with historical revenue data and analysis focusing on key factors driving adoption, current challenges faced by key players, and major growth areas.
Market size, forecasts, and trends by components, with historical revenue data and analysis.
Market size, forecasts, and trends by application, with historical revenue data and analysis of sales based on applications.
Market size, forecasts, and trends by end-user segment, with historical revenue data and analysis across various segments.
Machine condition monitoring market is also analysed across different regions, with historical data, regional share, attractiveness and opportunity of these solutions in different countries. The growth prospects and key players operating in these markets. The section also dwells on the macro factors, economic scenario and other complementing factors aiding in market growth.
Market dynamics: The section details the market growth factors, restraints, and opportunities in the market. The segment also presents complete market scenario with the help of Porter’s five forces model.
Competitive Intelligence: A thorough investigation on the competitive structure of the market presented through proprietary vendor matrix model, market share analysis of key players, insights on strategies of key players and recent major developments undertaken by the companies to gain competitive edge.
Research methodology: The assumptions and sources which were considered to arrive at the final market estimates. Additionally, how our model is refined to ensure most significant factors are taken into consideration with the proper hypothesis and bottom-up and top-down approaches enhance the reliability of forecasts further strengthening the trustworthiness of the numbers being presented.

How this report is helpful to you and reasons for purchase?

The report provides a strategic outlook of the machine condition monitoring market to the decision-makers, analysts and other stakeholders in the easy to read format for taking informed decisions.
The charts, tables and figures make it easy for the executives to gain valuable insights while skimming the report.
Analyst support through calls and email for timely clarification and incorporating additional requests.
Option of presentation or doc format with the estimates file to take care of diverse requirements.
15% FREE customization with all our reports help cater additional requirements with significant cost-savings.
Option of purchasing specific segments of the study, including opting for summary reports or just the estimates file.