South America Machine Condition Monitoring Market

Market IntroductionModern 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. This is because the rotating parts are constantly moving, and their persistent motion is essential for the machine to be operational. However, continually moving and external particles such as dirt or moisture lead them to slow down and sometimes result in failure. Pertaining to this, the demand for condition-monitoring techniques are soaring, which is boosting the South America machine condition monitoring market.The objective of integrating machinery with machine condition monitoring solutions is to analyze and actively improve the performance of the machinery. The condition monitoring solutions offered by the providers allow the end users to optimize rotating machinery health. Condition monitoring involves the application of specific hardware, software, or a combination of the two to gather and report data about the performance of various machines. The growth in demand for condition monitoring is directly proportional to an increase in manufacturing facilities. This factor is catalyzing the growth of the South America machine condition monitoring market.

Get more information on this report Request Free Sample PDF

South America Machine Condition Monitoring Strategic Insights

Strategic insights for the South America 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.

Get more information on this report Request Free Sample PDF

South America Machine Condition Monitoring Report Scope

Report Attribute	Details
Market size in 2019	US$ 191.0 Million
Market Size by 2027	US$ 306.2 Million
Global CAGR (2020 - 2027)	6.1%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Monitoring Technique Vibration Monitoring Thermography Oil Analysis Corrosion Monitoring Ultrasound Emission Motor Current Analysis By Offering Hardware and Software By Deployment On premise and Cloud By Monitoring Process Online Condition Monitoring and Portable Condition Monitoring By End user Oil & Gas Power Generation Automotive Aerospace & Defense Food & Beverages Manufacturing
Regions and Countries Covered	South and Central America Brazil Argentina Rest of South and Central America
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. AB SKF Wilcoxon Sensing Technologies ALS Limited National Instruments Corporation

Get more information on this report Request Free Sample PDF

South America Machine Condition Monitoring Regional Insights

The geographic scope of the South America 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.

Get more information on this report Request Free Sample PDF

Market Overview and DynamicsThe machine condition monitoring market in South America is expected to grow from US$ 191.0 million in 2019 to US$ 306.2 million by 2027; it is estimated to grow at a CAGR of 6.1% from 2020 to 2027. The South America machine condition monitoring market is prominently soaring in the current scenario, with the rising number of manufacturing plants. The manufacturers of condition monitoring systems are experiencing substantial demand for their products from end-users. The continuous pressure from the end-users of condition monitoring systems, the manufacturers of these systems, are investing significant amounts and staff-hours to design and develop robust technologies. The majority of the manufacturers of emphasizing on developing and supplying wireless technologies for machine condition monitoring.The development and commercialization of wireless condition monitoring system have attracted several end-users and has been highlighting tremendous demand for such technologies. The large enterprises with the well-balanced financial condition are the major procurers of wireless technologies in the current scenario. However, the adoption of the same among the medium-scale end-users is also anticipated to rise over the years, which would propel the South America machine condition monitoring market. The outbreak of COVID-19 is expected to hamper the economic stability and anticipated growth opportunities in South America. In South America, Brazil is the worst-hit country due to the outbreak of the virus, followed by Ecuador, Chile, Peru, and Argentina, among others. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Also, in the electric and electronic manufacturing, Brazilian companies imported over 40% of components from Chinese companies. Further, other Asian companies accounted for over 35% of imports in 2019, signifying dependence on Asian economies. Meanwhile, the automotive sector is also hampered due to factory shutdowns, travel restrictions, and lockdowns. The governments across South America are taking various measures to contain the spread of the virus but, containment measures will reduce economic activity in the manufacturing sectors for at least the next quarter, and is expected to rebound once the pandemic is contained.Key Market SegmentsIn terms of monitoring technique, the vibration monitoring accounted for the largest share of the South America machine condition monitoring market in 2019. In terms of offering, the hardware segment held a larger market share of the machine condition monitoring market in 2019. In terms of deployment, the on premise segment held a larger market share of the machine condition monitoring market in 2019. In terms of monitoring process, the portable condition monitoring segment held a larger market share of the machine condition monitoring market in 2019. Further, the aerospace and defense segment held a larger share of the market based on end user in 2019. Major Sources and Companies ListedA few major primary and secondary sources referred to for preparing this report on the machine condition monitoring market in South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ASL Limited, Emerson Electric Co., General Electric Co., Honeywell International Inc., National Instruments Corporation, Parker-Hannifin Corp., Rockwell Automation Inc. and AB SKF among others.Reasons to buy report• To understand the South America machine condition monitoring market landscape and identify market segments that are most likely to guarantee a strong return• Stay ahead of the race by comprehending the ever-changing competitive landscape for South America machine condition monitoring market• Efficiently plan M&A and partnership deals in South America machine condition monitoring market by identifying market segments with the most promising probable sales • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South America machine condition monitoring market• Obtain market revenue forecast for market by various segments from 2020-2027 in South America region.South America Machine Condition Monitoring Market – By Monitoring Technique• Vibration Monitoring• Thermography• Oil Analysis• Corrosion Monitoring• Ultrasound Emission• Motor Current AnalysisSouth America Machine Condition Monitoring Market – By Offering• Hardware• SoftwareSouth America Machine Condition Monitoring Market – By Deployment• On-premise• CloudSouth America Machine Condition Monitoring Market – By Monitoring Process• Online Condition Monitoring• Portable Condition MonitoringSouth America Machine Condition Monitoring Market – By End-user• Oil & Gas• Power Generation• Automotive• Aerospace & Defense• Food & Beverage• Manufacturing• Others South America Machine Condition Monitoring Market – By Country• Brazil• Rest of South AmericaCompany Profiles1. Honeywell International Inc.2. Schaeffler Technologies AG & Co. KG3. General Electric Company4. Emerson Electric Co.5. Parker Hannifin Corporation6. Rockwell Automation, Inc.7. SKF AB8. Wilcoxon Sensing Technologies9. ALS Limited10. National Instruments Corporation