Machine Condition Monitoring Market is predicted to reach USD 4.713 billion at a CAGR of 6.36% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Machine Condition Monitoring Market”. 

MRFR recognizes the following companies as the key players in the global Machine Condition Monitoring market— Emerson Electric Co., General Electric, Rockwell Automation Inc., Parker Hannifin Corp, Analog Devices Inc., SKF, Amphenol Inc., Allied Reliability, National Instruments Corp, Meggit Plc, and Fluke Corporation.

Machine Condition Monitoring Market Highlights

The global Machine Condition Monitoring market is accounted to register a CAGR of 6.36% during the forecast period and is estimated to reach USD 4.713 billion by 2032.

The Machine Condition Monitoring Market involves the industry of using sensors and advanced technologies to monitor the health and performance of machines and equipment in various sectors, such as manufacturing, oil and gas, and transportation. It helps detect potential faults or anomalies in real-time, enabling preventive maintenance and reducing downtime and operational costs.

Segment Analysis

The global Machine Condition Monitoring market has been segmented based on End Use, Monitoring Type and Monitoring Process Type.

On the basis of End Use, the market is segmented into oil & gas industry, chemical & petrochemical industry, pulp & paper industry, and steel & metal industry. The market was led by the steel and metal sector, and the metal and mining sector is expected to develop at a significant rate over the assessment period due to the pressing need to reduce costs, streamline maintenance, and boost capacity.

Based on Monitoring Type, the global Machine Condition Monitoring market has been segmented into vibration monitoring, thermography, oil analysis, and corrosion monitoring. The market was controlled by the vibration monitoring segment. The rise in awareness of wear, imbalances, and misalignments can be attributed to the high percentage. Vibration monitoring is being used more frequently, which has been essential in delivering information about identifying vulnerabilities early on.

Based on Monitoring Process Type, the global Machine Condition Monitoring market has been segmented into online and portable. The category of portables brought in the most money. Portable condition monitoring can be used to gather and analyse data on important machinery.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Machine Condition Monitoring Market Research Report

Regional Analysis

The global Machine Condition Monitoring market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Machine Condition Monitoring market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Machine Condition Monitoring market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Machine Condition Monitoring market comprises of Middle East, Africa, and Latin America.

The North American Machine Condition Monitoring Market dominated this market in 2022 The United States and Canada are anticipated to offer significant growth potential when compared to the high demand from the power generation, aerospace, oil & gas, marine, and food & beverage industries. Vibration monitoring has been a significant trend for oil condition monitoring in the equipment lubricants used on oil and gas platforms.

The second-largest market share belongs to the Machine Condition Monitoring market in Europe. Well-known players are willing to spend money on condition monitoring systems in order to compete in the market. The Internet of Things and Industry 4.0 have increased demand for machine monitoring products and services throughout the region.

From 2024 to 2032, the Asia-Pacific Machine Condition Monitoring Market is anticipated to experience the quickest CAGR growth. This segment's considerable market share can be attributed to a number of factors, including the significant increase in industrial robot deployment, the rising need for automation, and the presence of high-production countries like China and Japan. Additionally, the Asia-Pacific region's Machine Condition Monitoring market in Japan was expanding at the fastest rate, while the market in China had the biggest market share.

Key Findings of the Study

• The global Machine Condition Monitoring market is expected to reach USD 4.713 billion by 2032, at a CAGR of 6.36% during the forecast period.


• The North American Machine Condition Monitoring Market dominated this market in 2022 The United States and Canada are anticipated to offer significant growth potential when compared to the high demand from the power generation, aerospace, oil & gas, marine, and food & beverage industries.


• Based on Monitoring Type, The market was controlled by the vibration monitoring segment.


• Emerson Electric Co., General Electric, Rockwell Automation Inc., Parker Hannifin Corp, Analog Devices Inc., SKF, Amphenol Inc., Allied Reliability, National Instruments Corp, Meggit Plc, and Fluke Corporation.