World Machine Condition Monitoring Equipment to Exceed US$1.5 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.

San Jose, CA (PRWEB) February 26, 2008 -- World Machine Condition Monitoring Equipment market (http://www.strategyr.com/Machine_Condition_Monitoring_Equipment_Market_Report.asp) is forecast to maintain a CAGR of 5% over the 2000-2010 period and exceed US$1.5 billion by 2010. Vibration Monitoring Equipment (http://www.strategyr.com/Machine_Condition_Monitoring_Equipment_Market_Report.asp) dominates the global market for Machine Condition Monitoring Equipment, with a share estimated at 61% in 2007. In terms of growth, however, Lubricating Oil Analysis Equipment (http://www.strategyr.com/Machine_Condition_Monitoring_Equipment_Market_Report.asp) is forecast to surpass all other segments for Machine Condition Monitoring Equipment, with a projected CAGR of 6% over the period 2000-2010.

Condition monitoring encompasses most of the expert monitoring techniques and offers a strategic tool, which helps in decision-making process. Although, condition monitoring for the purpose of this report includes vibration-based monitoring, lubrication oil analysis, thermography, and corrosion monitoring, the process is not just confined to these technologies.

The development of low-cost advanced condition monitoring equipments integrated with quick processing functions, direct communication procedures, and improved software is increasing the demand for the machinery during the recent times. The equipment is being accepted due to its ability for outstanding performance when integrated with large process control systems, and huge databases connecting multiple programs. Besides, the information technology boom provides numerous openings for the condition monitoring technology. Service industry is expected to register great demand for condition monitoring equipment with the focus shifting from product-centered to service centered technology solutions. Managements usually adopt Run-to-Failure technique where the machine error is allowed, before taking any remedy. The biggest challenge, however remains to convince managements to install the equipment as an essential gear to minimize avoidable shut down due to machine failure. Creating awareness regarding the efficiency and necessity of the systems would generate better sales in upcoming years.

Heavy industries across the globe are of late employing latest technological solutions, including wireless sensors, large-scale data integration, and condition monitoring expertise, for smooth functioning of plant and machinery. Wireless sensor networks collect information, and alert maintenance department for interference before equipment break down. Besides, leading automation suppliers are offering cost effective wireless sensing technology as a part of their product portfolio. For instance, Emerson Process Management integrated advanced wireless sensing technology into its PlantWeb, a digital industrial unit architecture designed to minimize capital project costs, and enhance operations efficiency.

Major companies covered include Bently Nevada, Brüel & Kjær Vibro, ClampOn AS, CorrOcean ASA, Corrpro Companies, Inc., Data Physics Corporation, DLI Engineering Corp, Emerson Process Management, FLIR Systems, Inc., Honeywell Process Solutions, Infrared Solutions, Inc., ITT Corporation, Kittiwake Developments Limited, Mikron Infrared, Inc., NEC San-EI Instruments, Ltd., PCB Piezotronics Inc., Rockwell Automation, Inc., Rohrback Cosasco Systems, Scientific Monitoring, Inc., Shinkawa Electric Co., Ltd., SKF Condition Monitoring Inc., SPM Instrument AB and The Timken Company.

Product segments analyzed in the report include Vibration Monitoring Equipment, Thermography Equipment, Lubricating Oil Analysis Equipment and Corrosion Monitoring Equipment.

For more details about this research report, please visit http://www.strategyr.com/Machine_Condition_Monitoring_Equipment_Market_Report.asp.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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