Asia Pacific Machine Condition Monitoring Market

Market Introduction

APAC industrialization is monumental, and the pace of manufacturing is climbing at a rapid rate over the years. The continuous growth in the number of manufacturing facilities across the region is reflecting the rise in demand for condition monitoring. The intensifying competition across industries around the region is leading the manufacturers to increase their outputs with greater efficiency. The manufacturers are increasingly focusing on analyzing the health and operability of each asset, which is enabling the manufacturers to grow productivity and earn profit. The governments of various economies of the APAC region are taking initiatives to boost their country’s manufacturing sector. Some of these initiatives includes ‘Make in India’, and ‘Made in China 2025’ among others. Also, the governments of various developing economies in the region are providing tax-rebates, funds, subsidiaries and other such provisions to support the industrialization in the region. The continuous growth in industrialization through governmental support is generating substantial demand for advanced technologies across industries, which is thereby catalyzing the machine condition monitoring market.

Asia Pacific Machine Condition Monitoring Strategic Insights

Strategic insights for the Asia Pacific Machine Condition Monitoring provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Machine Condition Monitoring Report Scope

Asia Pacific Machine Condition Monitoring Regional Insights

The geographic scope of the Asia Pacific Machine Condition Monitoring refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The APAC machine condition monitoring market was valued at US$ 596.1 million in 2019 and is expected to grow at a CAGR of 6.7% during the forecast period to reach US$ 988.3 million by 2027. The region has a robust automotive sector, which is supported by the growing automotive manufacturing industry in countries such as India, China, and South Korea. Countries such as India, China, South Korea, and Japan are among the leading vehicle manufacturing countries across the world. Other significant industries include oil & gas, power generation, consumer electronics, mining, construction, and F&B, among others. The presence of huge numbers of manufacturing facilities across industries in the region is supporting the growth of machine condition monitoring market in the APAC region.

Key Market Segments

In terms of monitoring technique, the vibration monitoring segment accounted for a largest share of the APAC machine condition monitoring market in 2019. Ultrasound emission segment held the second largest share in the market, based on monitoring technique, in 2019. The thermography segment is anticipated to surge at a prime rate during the forecast period from 2020 to 2027.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the machine condition monitoring market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. The major companies listed in the APAC machine condition monitoring market report are Rockwell Automation, SKF, National Instruments, Emerson Electric Co, and General Electric, among others.

Reasons to buy report

• It provides understanding of the APAC machine condition monitoring market landscape and identifies market segments that are most likely to guarantee a strong return.
• It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the APAC machine condition monitoring market.
• It helps efficiently plan merger and acquisition, and partnership deals in the APAC machine condition monitoring market by identifying market segments with the most promising probable sales
• It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the APAC machine condition monitoring market.

• It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.

APAC MACHINE CONDITION MONITORING MARKET SEGMENTATION

By Monitoring Techniques

• Vibration Monitoring
• Thermography
• Oil Analysis
• Corrosion Monitoring
• Ultrasound Emission
• Motor Current Analysis

By Offering

• Hardware
  • Vibration Sensor
  • Proximity Probes
  • Tachometer
  • Infrared Sensors
  • Spectrometer
  • Ultrasound Detectors
  • Corrosion Probe
  • Others
• Software

By Deployment Type

• On-premise
• Cloud

By Monitoring Process

• Online Condition Monitoring
• Portable Condition Monitoring

By End User

• Oil & Gas
• Power Generation
• Automotive
• Aerospace & Defense
• Food & Beverage
• Manufacturing
• Others

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Companies Mentioned

• 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