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Machine Condition Monitoring Market
Market Overview and Dynamics
The Europe machine condition monitoring market was valued at US$ 686.7 million in 2019 and is projected to reach US$ 1,030.2 million by 2027, growing at a CAGR of 5.2% during the forecast period. Condition monitoring solutions are increasingly being adopted by manufacturers and maintenance teams to quickly detect machine issues and respond based on their severity. This not only reduces manual diagnostic time and equipment downtime but also enhances productivity and cost-efficiency.
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Across Europe’s industrial sector, there is a strong emphasis on integrating condition monitoring and diagnostic tools into manufacturing facilities. These solutions track key operational parameters such as vibration, temperature, and noise. Continuous monitoring using advanced technologies allows manufacturers to optimize operations and increase profitability. The growing need for predictive maintenance and real-time analytics is a major driver fueling the expansion of the machine condition monitoring market in the region.
Key Market Segments
By monitoring technique, the vibration monitoring segment held the largest market share in 2019, followed by the ultrasound emission segment. Looking ahead, the thermography segment is expected to register the fastest growth during the forecast period (2020–2027), driven by advancements in infrared sensing technologies and its expanding applications in predictive maintenance.
Key Sources and Companies Referenced
The insights in this report are based on data from a range of primary and secondary sources, including company websites, annual and financial reports, government publications, and statistical databases. Major players featured in the Europe machine condition monitoring market include:
- Rockwell Automation
- SKF
- National Instruments
- Emerson Electric Co.
- General Electric, among others.
Reasons to Purchase This Report
- Gain a clear understanding of the Europe machine condition monitoring market landscape, identifying the most lucrative segments.
- Stay ahead of the competition by tracking the dynamic and evolving competitive environment.
- Make informed decisions regarding mergers, acquisitions, and strategic partnerships by identifying high-potential market segments.
- Support strategic planning through a comprehensive analysis of market segment performance across the forecast period.
- Access detailed revenue forecasts segmented by technology and application from 2020 to 2027.
Market Introduction
The rate of adoption of automated technologies for manufacturing purposes in developed countries has surged over the years. This has led the countries to experience the growth of smart factories. The countries with a significantly higher number of manufacturing facilities include France, Germany, the UK, among others, are continually seeking automated technologies in manufacturing facilities across industries. With continuously rising demand for production across industries, the expansion of manufacturing facilities is one of the crucial strategies adopted by the manufacturers. The growing number of manufacturing facilities positively impacts the demand for automated solutions as new and technologically advanced machinery requires constant monitoring of components during operation. Pertaining to this, the demand for condition monitoring solutions is surging among industries such as aerospace & defense, automotive, oil & gas, manufacturing, food & beverage, power generation, and chemicals, among others. Thus, throttling the growth of machine condition monitoring market.
Strategic Insights – Europe Machine Condition Monitoring Market
Strategic insights into the Europe machine condition monitoring market deliver a data-driven understanding of the competitive landscape, highlighting emerging trends, key players, and regional dynamics. These insights equip stakeholders—including investors, manufacturers, and service providers—with actionable guidance to uncover untapped market segments and craft distinctive value propositions. By harnessing advanced data analytics, businesses can better anticipate market shifts and evolving customer demands. Adopting a forward-looking approach enables stakeholders to stay ahead of industry changes, strengthen their market positioning, and drive sustainable growth. Ultimately, these insights support informed decision-making, enabling organizations to enhance profitability and achieve strategic goals in a rapidly evolving market environment.
Market leaders and key company profiles
Honeywell International Inc.
Schaeffler Technologies AG & Co. KG
General Electric Company
Emerson Electric Co.
Parker Hannifin Corporation
Rockwell Automation Inc.
SKF
ALS Limited
National Instrument Corporation
Regional Insights: Europe Machine Condition Monitoring Market
The geographic scope of the Europe Machine Condition Monitoring market encompasses the distinct regions where businesses operate and compete. To succeed in this landscape, it is essential to recognize and respond to regional variations—ranging from consumer preferences (such as specific plug types or battery backup requirements) to differing economic conditions and regulatory frameworks. Tailoring strategies to fit these local nuances enables companies to better meet customer needs, identify underserved markets, and refine their product offerings. A focused regional approach also enhances the efficiency of resource allocation, sharpens marketing efforts, and strengthens competitive positioning—ultimately supporting sustained growth in targeted European markets.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
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