Global Vibration Monitoring Market Size Likely to Grow at a CAGR of 5.2% By 2033

As per the current market research conducted by the CMI Team, the global Vibration Monitoring Market size is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 1,502.4 Million. By 2033, the valuation is anticipated to reach USD 2,370.9 Million.

Vibration Monitoring Market: Growth Factors and Dynamics

• Increasing Emphasis on Predictive Maintenance: Industries are increasingly adopting vibration monitoring systems to implement predictive maintenance strategies. These systems help in identifying potential equipment failures before they occur, minimizing downtime and optimizing operational efficiency.

• Rising Demand for Condition-Based Monitoring: There is a growing preference for condition-based monitoring solutions that rely on vibration analysis to assess the health and performance of machinery. This trend is driven by the need to enhance asset reliability and reduce maintenance costs.

• Technological Advancements in Sensors and Data Analytics: Continuous advancements in sensor technologies, such as MEMS accelerometers and wireless sensors, coupled with developments in data analytics and machine learning, are enhancing the accuracy and capabilities of vibration monitoring systems.

• Expansion in Industrial Automation: The integration of vibration monitoring with industrial automation systems is expanding. Automated monitoring and analysis processes enable real-time insights into machinery health, facilitating proactive maintenance and operational efficiency.

• Regulatory Requirements and Standards: Compliance with stringent regulatory standards and requirements across industries, such as manufacturing, aerospace, and energy, is driving the adoption of vibration monitoring systems. These systems ensure adherence to safety and performance standards.

• Increasing Adoption in Emerging Markets: Emerging economies are witnessing rapid industrialization and infrastructure development, leading to increased adoption of vibration monitoring solutions. These markets present significant growth opportunities due to the growing awareness of predictive maintenance benefits and the need for operational efficiency improvements.

• Focus on Remote Monitoring and IIoT Integration: There is a growing trend towards remote monitoring capabilities and integration with Industrial Internet of Things (IIoT) platforms. This allows for real-time monitoring of equipment health from anywhere, enabling proactive maintenance and reducing the need for on-site inspections.

• Increasing Complexity of Machinery and Equipment: As industrial machinery and equipment become more complex, the need for accurate and sensitive vibration monitoring systems grows. These systems can detect subtle changes in vibration patterns that indicate potential faults or performance degradation, ensuring optimal operation and reliability of critical assets.

Vibration Monitoring Market: Partnership and Acquisitions

• In 2023, IMI Sensors, a division of PCB Piezotronics Inc., introduced the Model 655A91, a cost-effective 4-20 mA velocity transmitter featuring a 4-pin M12 connector for easy integration into industrial monitoring systems. It boasts a built-in piezoelectric component for improved accuracy and a wide frequency response range from 3.5 to 2 kHz.

• In 2022, Banner Engineering launched Snap Signal, a new IIoT product line designed to capture data from industrial machines, convert it to standard protocols, and facilitate Industry 4.0 upgrades. Its modular hardware and software enable versatile applications, including advanced vibration monitoring systems for enhanced facility performance.

• In 2022, Samsung introduced the Galaxy A53 5G smartphone, featuring an octa-core processor for robust performance. It includes a 6.50-inch touchscreen display with a 120 Hz refresh rate and 1080 x 2400 pixels resolution, delivering a sharp viewing experience at 407 pixels per inch.

Report Scope

Vibration Monitoring Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Vibration Monitoring Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Temporary Slowdown in Industrial Activities: During the pandemic, many industries experienced a temporary slowdown or shutdown of operations, affecting the demand for vibration monitoring systems used for machinery condition monitoring and predictive maintenance.

• Supply Chain Disruptions: Global supply chain disruptions caused delays in the delivery of vibration monitoring components and systems, impacting project timelines and installation schedules.

• Shift towards Remote Work and Reduced On-Site Inspections: The pandemic necessitated remote work arrangements and minimized on-site inspections, impacting the installation and maintenance of vibration monitoring systems that typically require physical presence.

• Resurgence in Industrial Activities: As economies recover, industrial activities are resuming, leading to increased investments in predictive maintenance and condition monitoring solutions, including vibration monitoring systems.

• Accelerated Adoption of Remote Monitoring Solutions: The pandemic accelerated the adoption of remote monitoring and IIoT-enabled solutions. Vibration monitoring systems with remote monitoring capabilities are increasingly sought after to enable real-time monitoring and minimize on-site personnel requirements.

• Focus on Operational Efficiency and Cost Optimization: Industries are prioritizing operational efficiency and cost optimization strategies post-pandemic. Vibration monitoring systems help in optimizing maintenance schedules, reducing downtime, and improving overall equipment effectiveness (OEE).

• Technological Advancements: Continued advancements in sensor technology, data analytics, and machine learning algorithms are enhancing the capabilities and effectiveness of vibration monitoring systems, driving their adoption in diverse industrial applications.

• Rising Demand in Emerging Markets: Emerging markets, particularly in Asia-Pacific and Latin America, are witnessing increased investments in industrial infrastructure and manufacturing facilities. This surge in industrialization is boosting the demand for vibration monitoring solutions as companies prioritize asset reliability and operational safety.

• Increased Focus on Workplace Safety and Risk Mitigation: Post-pandemic, there is heightened awareness and prioritization of workplace safety measures. Vibration monitoring systems play a crucial role in ensuring equipment reliability and minimizing operational risks.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Vibration Monitoring Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Vibration Monitoring Market:

• SKF Group
• Bently Nevada (a Baker Hughes business)
• Schaeffler AG
• PCB Piezotronics Inc.
• Meggit PLC
• Rockwell Automation Inc.
• National Instruments Corporation
• General Electric Corporation
• Emerson Electric Company
• Honeywell International Inc.
• Bruel & Kjaer Sound & Vibration Measurement A/S
• Fluke Corporation
• ION Science Ltd.
• Data Physics Corporation
• Monarch Instrument
• Others

The Vibration Monitoring Market is segmented as follows:

By Component Type

• Hardware
  • Accelerometers
  • Proximity Probes
  • Velocity Sensors
  • Others
• Software
  • Vibration Analyzers
  • Data Collectors
  • Condition Monitoring Software
  • Others

By Monitoring Process

• Online Monitoring
• Portable Monitoring

By System Type

• Embedded Systems
• Vibration Analyzers
• Vibration Meters
• Vibration Transmitters
• Others

By Application

• Machinery Monitoring
• Bearing Condition Monitoring
• Gearbox Monitoring
• Fan & Pump Monitoring
• Rotor Dynamics Analysis
• Others

By Industry Vertical

• Oil & Gas
• Energy & Power
• Automotive
• Aerospace & Defense
• Chemicals & Petrochemicals
• Mining & Metals
• Food & Beverages
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America