Vibration analysis is used in predictive maintenance to predict the time of the next maintenance schedule. This allows clubbing of maintenance schedules of several machines at once thereby reducing the maintenance cost and total production loss. With growing focus on the improvement of capacity utilization factor (CUF), the demand for vibration meters for predictive maintenance is also increasing. Vibration meter manufacturers are developing products which provide a comprehensive understanding of vibration patterns, the source of the fault, machine running condition, and predictive maintenance schedules. This ability of vibration meters to analyze vibration patterns for predictive maintenance is expected to boost its demand during the forecast period.
The popularity of micro-electromechanical sensors (MEMS) in vibration meter due to its efficiency and cost-effectiveness over quartz accelerometer is further boosting the expansion of the global vibration meter market at a CAGR of close to 5%.
Top vibration meter companies covered in this market research report
The global vibration meter market is fairly fragmented. To help clients improve their revenue shares in the market, this research report provides an analysis of the market’s competitive landscape and contains information on the products offered by various leading companies. Additionally, this vibration meter market analysis report suggests strategies companies can follow and recommends key areas they should focus on, to make the most of upcoming growth opportunities.
The report offers a detailed analysis of several leading companies including:
Vibration meter market segmentation based on end-user
Third-party service providers
The process industries segment will account for the highest share of the vibration meter market as it is a critical component in rotating machines which require routine vibration level monitoring. This report provides an accurate prediction of the contribution of all the segments to the growth of the vibration meter market size.
Vibration meter market segmentation based on geographic region
With a complete study of the growth opportunities for the companies, it has been identified that North America accounted for the highest share of the vibration meter market in 2018. The increasing demand for turbines and compressors in natural gas processing facilities and investments in natural gas-fired power plants are some of the factors driving vibration meter market growth in this region.
Key highlights of the global vibration meter market for the forecast years 2019-2023:
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the vibration meter market during the next five years
Precise estimation of the global vibration meter market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the vibration meter industry across MEA, APAC, Europe, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details of factors that will challenge the growth of vibration meter companies
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