Motor Monitoring Market Analysis, Recent Trends and Regional Growth Forecast 2021-2026

According to IMARC Group latest report titled” Motor Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited moderate growth during 2015-2020. The global motor monitoring market size to grow at a CAGR of around 6% during 2021-2026. Motor monitoring refers to a predictive maintenance aspect that relies on modern, state-of-the-art equipment for a thorough inspection. It assists in tracking the performance of motors and minimizing downtime needed for repairs. It also aids in ensuring efficiency, avoiding critical unplanned downtime, locating potential problems, and improving plant operations. As a result, it is employed in aerospace, automotive, and oil and gas industries across the globe.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

There is a significant rise in the need for detecting potential issues in machines before their breakdown. This represents one of the key factors strengthening the growth of the market. Besides this, the introduction of innovative test equipment that collects data through three voltage probes and corresponding current transformers is positively influencing the market. Moreover, leading players are offering motor monitoring services via online platforms, which provide details about power quality and operating conditions. Furthermore, considerably expanding applications of motor monitoring in sports and thermal imaging are acting as another growth-inducing factor.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

  • AB SKF
  • ABB Ltd
  • ALS Limited
  • Eaton Corporation plc
  • Emerson Electric Co.
  • General Electric
  • Honeywell International Inc
  • National Instruments Corp.
  • Parker-Hannifin Corp
  • Rockwell Automation Inc
  • Schneider Electric
  • Siemens AG

Motor Monitoring Market Segmentation:

Our report has categorized the market based on region, offering, monitoring process and end use.

Breakup by Offering:

  • Hardware
  • Software

Breakup by Monitoring Process:

  • Oil Analysis
  • Motor Current Analysis
  • Ultrasound
  • Thermography
  • Vibration Analysis
  • Others

Breakup by End Use:

  • Oil and Gas
  • Energy and Power
  • Aerospace and Defense
  • Automotive
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Smith Ivo

Five years in chemical & material has made Ivo Smith more or less an expert in everything related to medicines, drugs, chemicals and related sectors – at least from the PR front. Through his insider access to the sector, he has gained valuable insight into the entire manufacturing process of chemical and material.

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