The Europe Equipment Monitoring Market size would witness market growth of 6.2% CAGR during the forecast period (2018 – 2024).
Vibration monitoring is a most popular predictive maintenance technique used, as it detects faults at very early stages, and also identifies the exact faulty location. Falling prices of vibration sensors and wireless systems have added to the popularity of vibration monitoring technique. The market for motor current monitoring solutions would grow at a higher CAGR during the forecast period. Current signal is processed to obtain the frequency spectrum, usually referred to as current signature in the motor current monitoring technique. Data is analyzed with the help of various advanced techniques such as fast Fourier transform (FFT), short-time Fourier transform (STFT), Gabor transform, and wavelength transform.
Based on Monitoring Process, the market is segmented into Online Equipment Monitoring and Portable Equipment Monitoring. Based on Monitoring Type, the market is segmented into Vibration Monitoring, Thermal Monitoring, Noise Monitoring, Lubrication Monitoring, GPS Tracking, Corrosion Monitoring, Alarm Monitoring, and Others. Based on Industry Vertical, the market is segmented into Oil & Gas, Chemicals, Automotive, Aerospace & Defense, Food & Beverages, Power Generation, Metals & Mining, Marine, and Others. Based on Countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Emerson Electric Co., General Electric (GE), Honeywell International, Inc., National Instruments Corporation, Parker-Hannifin, Rockwell Automation, Siemens AG, Yokogawa Electric Corporation, SKF (Svenska Kullagerfabriken AB) and Pruftechnik Dieter Busch.
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