Machine Health Monitoring Market – Global Industry Research Report to 2020

Machine health monitoring is a process of supervising the machinery to identify considerable changes that indicates a fault. The use of a machine monitoring system allows timing for maintenance to be scheduled in a manner that prevents the failure of system and thus avoid its consequences. The instrument health system benefits devices by identifying the fault before it develops into a major failure. The growing importance of asset management and manufacturer’s drive to optimize productivity and increase efficiency of the plant is driving the demand for gadgets health monitoring equipment market. Additionally, increasing emphasis on asset utilization and the rising need for elimination of possible machine breakdowns which may lead to redundant maintenance costs has led to an increased adoption of this technology.

This technique is generally used on rotating equipments and other devices such as electric motors, pumps, presses and internal combustion engines. Manufacturing processes, such as breweries and oil refineries, employ monitoring systems, to measure critical parameters. This system makes use of sensors for the purpose of monitoring the gadgets. SCADA (Supervisory Control and Data Acquisition), is used to analyze information and provide data. This system is used to monitor current and historical performance of equipments. It facilitates prediction of instrument failure which minimizes production losses, by planning corrective activities beforehand. This technique is primarily aimed towards reducing cot and repair time and is considered to be an efficient strategy in the manufacturing industry. It involves strategic tools which help in decision making processes.

Various products of engine health monitoring systems are corrosion monitoring equipments, thermograph equipments, lubricating oil examination equipments, ultrasound emission equipments and vibration monitoring equipments. These products make use of various components such as spectrometer, corrosion probes, spectrum analyzer, ultrasonic detector, thermal camera and vibration sensor. The rising need for a system to decrease the risk of unforeseen appliances failures and implementation of planned preventative maintenance techniques has increased the demand for machine health monitoring system Obtaining a return on investment from the installment of apparatus health monitoring system, and irregular maintenance cycles which may require certain modifications in existing machinery to fit the new systems are some of the factors that are constraining the growth of the market. Smart sensors development, vibration sensor machinery and development of Internet of Things (IoT) for machine health monitoring are some the current trends in this industry that are likely to drive the market during the forecast period.

Some of the major players in this market are Bruel & Kjaer Vibro GmbH, AZIMA DLI Corp., The Emerson Electric Company, General Electric Corporation, Fluke Corporation, Honeywell International Inc., National Instruments Corporation, Parker Kittiwake Ltd., Rockwell Automation Inc., and SKF Company among others.

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