The rising demand for smart factories, increasing need for data-driven management, and growing adoption of advanced technologies such as cloud and mobile are expected to change the outlook of the shop floor from the maintenance perspective. Vibration monitoring is considered as a significant aspect of condition-based maintenance, as it helps in conducting effective maintenance activities in various industries. It enables detecting faults in machines at an early stage, thereby making it possible to closely monitor the development throughout the stages of failure. This provides flexible control and data-driven insights and real-time operational awareness, thereby enabling efficient decision-making capabilities for optimal process execution. Furthermore, with the increasing competition, growing costs of energy, and rising expenditures on plant maintenance, there is a need for vibration monitoring equipment for improving the maintenance budgets and minimizing the operating expenses. The growth of market players depends on market conditions, favorable government regulations, and industry development. The growing trend of vibration monitoring through wireless systems, and the increasing penetration of smart factory are some of the factors expected to drive the growth of the market. Thus, companies are focusing on providing enhanced products to retain their existing customers and acquire new ones.
Emerson Electric Co., General Electric, National Instruments Corporation, SKF AB, and Brüel & Kjær are among the major players holding a prominent share in the vibration monitoring market. These players are focusing on expanding and enhancing their product offerings to remain competitive and expand their customer base. Furthermore, these players are focusing on partnerships and collaborations to expand their business to strengthen their market position. Although the international players are dominating the market, regional and foreign players with small market shares including MachineSaver, Inc., Petasense Inc., Augury, 3DSignals Ltd, and Senseye Ltd also have a prominent presence. Apart from technological innovations and the development and enhancement of the existing product portfolios, the major players have entered into various partnerships and strategic alliances with locally existing companies to expand their geographic presence.
Emerson Electric Co. dominates the vibration monitoring market holding a share of 16.8%. The company provides condition monitoring solutions such as route-based vibration analyzers, vibration transmitters, online condition monitoring, integrated condition monitoring, and machinery protection with embedded prediction, which are specific to critical machines and delivers accurate data diagnosis of the condition of machines. Additionally, the company has gained a competitive advantage over other key players by establishing partnerships and collaborations with players from various industries.
SKF AB is also one of the prominent players in the vibration monitoring market holding a 15.0% share of the market. The company’s @ptitude asset management system has the ability to work seamlessly with a computerized maintenance management system (CMMS) through a single integrated platform. It has developed a wide range of instruments for analyzing the critical environmental conditions that have an impact on bearing and machine performance. Moreover, the company also focuses on cost competitiveness to maintain its global position.
Bruel & Kjaer holds a share of 14.6% in the vibration monitoring market. The company provides condition monitoring solutions for wind turbines, oil & gas industry, hydropower plants, and other industrial applications. Its product lines comprise permanently installed online condition monitoring systems as well as portable off-line solutions. Moreover, the company focuses on acquisitions and mergers to expand the customer base by innovating customer-based solutions; this helps the company strengthen its global presence.
General Electric holds a market share of 10.7%. The company’s suite of Bently Nevada rack-based and distributed machinery condition monitoring software and hardware solutions, vibration monitoring equipment and sensors enable enhanced efficiency for operations and greater asset reliability. The company invests highly in software development, expands its supply chain management globally, and creates unique, high-technology products to provide end-to-end automation solutions to its customers. Strategic partnerships with other corporations and product launches are the key strategies implemented by General Electric to maintain its market position.
National Instruments Corporation holds the fifth position in the vibration monitoring market with 7.3% of the total market share. The company provides condition monitoring for industrial assets to improve predictive maintenance for power generation and prevent equipment failures in the field. The company is also focused on maintaining strategic partnerships and collaborations with technology-based companies to enhance its solution offerings.
Although these players dominate the vibration monitoring market, other players including Analog Devices Inc., Rockwell Automation, Inc., Fortive Corporation, Meggitt PLC, I-care Reliability Inc., Shinkawa Electric Co., Ltd, Metrix Instrument Co., LP, CEC Vibration Products, CEMB SpA, Wilcoxon Sensing Technology, Prüftechnik Dieter Busch AG, AssetSense, Semaq, Yokogawa Electric Corporation and IMBU BV also have a considerable presence in the vibration monitoring market. These players focus on collaborating with other businesses with strong market presence to expand their market reach, thus diversifying their product portfolio.
