The North America Machine Condition Monitoring market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Modern machinery operates with the help of numerous smaller parts and components, which wear down, get damaged, and even fail to function over a period. Rotating parts of motors, fans, engines, and several bearing types are common causes of failure; these constantly move as their persistent motion is essential for the machines to be operational. However, continuous movement and external contaminants such as dirt or moisture result in the slowing down of these machines, which sometimes result in failure. The machine condition monitoring products keep a check on the disturbed functioning of parts, followed by detecting the possibilities of failure in future. This generates high demand for these products as their implementation allows the operators to avoid factory downtime caused by machine failure.
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The North Americamachine condition monitoring market is expected to reach US$ 1380.9Mn by 2027 from US$ 1004.3 Mn in 2019; the market is anticipated to grow at a CAGR of 4.1 % from 2019 to2027.The increasing demand for automated solutions in manufacturing facilities is among the prime factors driving the market growth. However, the igh cost of maintenance and lifespan of machine condition monitoring systemsis likely to have a negative impact on the market growth.
These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for North America Machine Condition Monitoring in the market.
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North America Machine Condition Monitoring Market – MARKET SEGMENTATION
By Monitoring Technique
- Vibration Monitoring
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission
- Motor Current Analysis
- Vibration Sensor
- Proximity Probes
- Infrared Sensors
- Ultrasound Detectors
- Corrosion Probe
By Deployment Type
By Monitoring Process
- Online Condition Monitoring
- Portable Condition Monitoring
- Oil & Gas
- Power Generation
- Aerospace & Defense
- Food & Beverages
- Emerson Electric
- General Electric.
- National Instruments
- Honeywell International Inc.
- Als Ltd.
- Parker Hannifin
- Rockwell Automation
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