NEWARK, Del, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The vibration analyzer market is poised for significant growth, with the global market size projected to reach US$ 167.5 million by 2023. The vibration analyzer demand will witness a robust CAGR of 9.6% from 2023 to 2033. By 2033, the vibration monitoring market size is anticipated to reach a valuation of US$ 418.9 million.
Satisfying Industrial Needs is an Advancing Market Trend for Vibration Analyzer
The rise in demand for wireless systems, the trend of smart factories, and the need for industrial applications are essential factors surging the global vibration analyzer market growth.
The global vibration analysis equipment market is propelled by increased predictive maintenance awareness. Vibration analyzer is widely used in capital-intensive industries like oil and gas and automotive.
The adoption of vibration analyzer is growing in various industrial applications due to their capacity to predict probable faults of any apparatus. Maintenance personnel needing vibration analysis quickly to determine the root cause of equipment conditions increasingly adopt vibration analyzer.
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The Technological Evolution of Vibration Analyzer – Opportunities and Imperatives
The vibration measurement tools market encounters a double-edged sword due to the ever-accelerating trend of technical advancement. On the one hand, it presents a potential opportunity for a more complex and accurate analyzer, enabling organizations to improve their diagnostic and preventive maintenance skills. However, this rapid shift demands a persistent dedication to maintaining the forefront of advancement.
Vibration analyzer manufacturers must devote resources to constant research and development projects to maintain their competitive edge. Adapting to new technologies, like IoT integration and AI, is necessary. Maintaining operational effectiveness while embracing innovation is essential for long-term corporate success in this dynamic environment.
“The vibration measurement tools market is rapidly advancing due to the need for predictive maintenance and developing industrial automation. Technological developments like wireless connectivity and AI-powered analytics can impact the vibration analyzer market expansion. Expanding concern over the resiliency of the equipment and the aim of operational efficiency stimulates vibration analyzer demand.” -Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Asia Pacific Emerges as the Front Runner in the Vibration Analyzer Market
- A growing focus on preventive maintenance is fueling the steady expansion of India's vibration analysis equipment market. Through 2033, the India vibration analyzer market is poised to expand at a CAGR of 11.6%.
- India's manufacturing industry, which strives to maximize asset performance, is a notable market driver for vibration analyzer.
- The demand for vibration analyzer in China is mainly driven by growing industrialization and the necessity for preventive maintenance. Vibration monitoring market growth in China is set to be 11% CAGR through 2033.
- As the China vibration monitoring market becomes lucrative, manufacturers must innovate and provide economical alternatives.
Key Takeaways from the Market:
- The Portable segment in the product type category to grab a share of 81.2% from 2023 to 2033.
- In the end-use category, the oil and gas segment will acquire a market share of 17.80% between 2023 and 2033.
- The United States vibration monitoring market will exhibit a CAGR of 5.1% by 2023.
- The Germany vibration analysis equipment market is to escalate at a CAGR of 3.9% by 2023.
- Japan vibration analysis equipment market to register a CAGR of 5.9% by 2023.
- China vibration monitoring market to expand at a CAGR of 11% through 2033.
- India vibration analyzer market to develop at a CAGR of 11.6% from 2023 to 2033.
- United Kingdom vibration analysis system market to evolve at a CAGR of 4.4% through 2033.
Competitive Landscape
Significant competition prevails among the market players of vibration analyzer. The vibration analyzer manufacturers are expanding their market share through numerous collaborations and introducing fresh products to gain a competitive edge.
Key Vibration Analyzer Manufacturers
- National Instruments Corporation
- Data Physics Corporation
- PCE Deutschland GmbH
- Honeywell International Inc.
- SKF
- Analog Devices, Inc.
- RION Co., Ltd
- ACOEM AB
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Noteworthy Milestones
STMicroelectronics' ASM330LHHX Pioneers IMU Technology for an Optimistic Automation Future
STMicroelectronics launched the ASM330LHHX in May 2022, representing a significant development in the field of inertial measurement units and expanding the boundaries of automation. The unique IMU has a machine-learning core, which enables speedy real-time responsiveness and complicated capabilities while consuming a meager amount of power.
Banner Engineering's 'Snap Signal' Sets The Scene for Industry 4.0
Banner Engineering offered a new IIoT product series called Snap Signal in April 2022. The cutting-edge solution intends to take data from a wide range of industrial gear and convert it quickly into a standard protocol. Snap Signal enables firms to move to Industry 4.0, resulting in greater production.
Vibration Analyzer Market Segmentation:
By Product Type:
- Portable
- Handheld
By Application:
- Velocity and Displacement Measurement
- Vibration Monitoring
By Component:
- Hardware
- Software
By End Use:
- Food and Beverage
- Electronics
- Automotive
- Aerospace and Defense
- Oil and Gas
- Energy and Power
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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