Rockville, MD , Jan. 14, 2025 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global Powertrain Condition Monitoring Market is estimated to reach a substantial valuation of US$ 778.7 million in 2024 and is expected to grow at a CAGR of 9.7% during the forecast period of (2024 to 2034).
The powertrain condition monitoring market is growing rapidly due to growing demands for predictive maintenance, efficiency optimization, and sustainability. Advances in technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and data analytics contribute to the rapid growth in the market by enabling the real-time monitoring and early detection of faults in powertrain systems.
Key industry segments driving this growth are automotive, aerospace, and industrial machinery, especially the electric and hybrid vehicle areas. The trend toward electrical powertrains are forcing an increase in demand for monitoring advanced systems that monitor batteries, electric motors, and transmission performance.
Predictive maintenance, which helps in reducing unplanned maintenance costs by several folds and increases the life of critical components is a significant trend in the powertrain condition monitoring market. The diagnostic capabilities further get enhanced by AI and IoT technologies, thus enabling more accurate and proactive maintenance.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=10539
Key Takeaways from Market Study:
- The global powertrain condition monitoring market is projected to grow at 9.7% CAGR and reach US$ 1,965.5 million by 2034
- The market created an absolute $ opportunity of US$ 1,186.7 million growing at a CAGR of 9.7% between 2024 to 2034
- East Asia is a prominent region that is estimated to hold a market share of 28.8% in 2034
- Predominating market players include Bosch, Continental AG, AVL List GmbH, Denso Corporation, Delphi Technologies, ABB, Regal Rexnord Corporation, Bently Nevada, Caterpillar Inc. and SKF
- Predictive Maintenance under Industry are estimated to grow at a CAGR of 13.4% creating an absolute $ opportunity of US$ 659.5 million between 2024 and 2034
- North America expected to create an absolute $ opportunity of US$ 79.9 million
“Electric Vehicle Growth Fuels Market for Advanced Powertrain Performance Monitoring Solutions” says a Fact.MR analyst.
Powertrain Condition Monitoring Market:
The Key Players in the powertrain conditional monitoring markets are Bosch, Continental AG, AVL List GmbH, Denso Corporation, Delphi Technologies, ABB, Regal Rexnord Corporation, Bently Nevada, Caterpillar Inc., SKF, Other.
Market Development:
Global Powertrain Condition Monitoring Market key players are focusing on expansion activities, technological advancement, product innovations, strategic partnerships and collaborations, and regulatory compliances to acquire significant share in the industry.
For example, in January 2024, SKF unveiled its latest powertrain condition monitoring system for electric and hybrid vehicles. It connects advanced sensor technology with AI-based analytics, monitoring the most important key powertrain components in real-time motors, batteries, and transmissions. Predictive maintenance algorithms can spot potential issues before they occur, thereby cutting downtime and maintenance costs on the vehicle. With the potential to optimize energy consumption and enhance overall vehicle performance, this solution supports sustainability goals by enhancing fuel efficiency and reducing emissions.
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=10539
Powertrain Condition Monitoring Industry News:
- In November 2024, Bosch demonstrated its dedication to sustainability by making an investment in cutting-edge battery technology that might increase the longevity and efficiency of batteries used in electric vehicles. The program is a component of its overarching plan to modernize green technologies and lower carbon emissions across all of its goods. In order to improve home energy management, it will also continue to develop its smart home solutions.
- A new simulation tool that will expedite the development of electric and hybrid powertrains was introduced by AVL in November 2024. The goal of the tool is to shorten development time and increase vehicle testing efficiency. It is consistent with global trends in the automobile sector toward electrification.
- In November 2024, Denso announced a collaboration with other tech firms to create integrated electric car solutions that prioritize energy efficiency and battery management system enhancements.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Powertrain Condition Monitoring Market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the Maintenance Type (Predictive, Condition-Based, Preventive, Reactive), Technology (Vibration monitoring, Thermal, Oil analysis, Acoustic Emission Monitoring, Ultrasonic Monitoring, Motor Current Signature Analysis), Application (Automotive, Off-Road Vehicles, Railway Vehicles, Aerospace and Marine) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
Check out More Related Studies Published by Fact.MR:
Automotive Powertrain Market: Size is estimated at USD 435.3 Million in 2022 and is forecast to surpass USD 719.3 Million by 2032, growing at a CAGR of 5.2% from 2022 to 2032.
Automotive Active Health Monitoring Systems Market: Size is expected to surge ahead at CAGR of 30.2%, rising from its current market value of US$ 500 million to US$ 7 billion by the end of 2033.
Fuel Trailers Market: Size was valued at US$ 2,862.3 million in 2024 and has been forecast to expand at a noteworthy CAGR of 6.7% to end up at US$ 5,474.6 million by 2034.
E-Bike Motor Market: Share was valued at US$ 28.4 billion in 2023 and has been forecasted to expand at a noteworthy CAGR of 16.5% to end up at US$ 150.3 billion by 2034.
Car & Automobile Sales Market: Sales are expected to grow at a compound annual growth rate (CAGR) of 8.6%, from a 2024 valuation of US$4,598.61 billion to a 2034 valuation of US$10,574.88 billion.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
