Vibration analyser market to be worth US$ 418.9 million

18/12/2023

The vibration analyser market is poised for significant growth, with the global market size currently valued at US$ 167.5 million (approximately £133.24 million) in 2023 and a robust compound annual growth rate (CAGR) of 9.6% expected from 2023 to 2033. By 2033, the vibration monitoring market size is anticipated to reach a valuation of US$ 418.9 million (approximately £333.21 million).

The rise in demand for wireless systems, the trend of smart factories and the need for industrial applications are essential factors causing the global vibration analyser market growth to surge.

The global vibration analysis equipment market is propelled by increased predictive maintenance awareness. Vibration analysers are widely used in capital-intensive industries such as oil & gas and automotive.

The adoption of vibration analysers is growing in various industrial applications due to their capacity to predict probable faults of any apparatus. Maintenance personnel needing vibration analysis quickly to determine the root cause of equipment conditions increasingly adopt vibration analysers.

The vibration measurement tools market will encounter a double-edged sword due to the ever-accelerating trend of technical advancement. On the one hand, this presents a potential opportunity for more complex and accurate analysers, enabling organisations to improve their diagnostic and preventative maintenance skills. However, this rapid shift demands a persistent dedication to maintaining the forefront of advancement.

Vibration analyser manufacturers must devote resources to constant research and development projects to maintain their competitive edge. Adapting to new technologies, such as Internet of Things (IoT) integration and artificial intelligence (AI), is necessary. Maintaining operational effectiveness while embracing innovation is essential for long-term corporate success in this dynamic environment.

“The vibration measurement tools market is rapidly advancing due to the need for predictive maintenance and developing industrial automation. Technological developments such as wireless connectivity and AI-powered analytics can impact the vibration analyser market expansion. Expanding concern over the resiliency of the equipment and the aim of operational efficiency stimulates vibration analyser demand,” said Nikhil Kaitwade, Associate Vice President at Future Market Insights Inc.

Asia-Pacific emerges as the front runner in the vibration analyser market for the following reasons:

A growing focus on preventative maintenance is fuelling the steady expansion of India’s vibration analysis equipment market. Through to 2033, the Indian vibration analyser market is poised to expand at a CAGR of 11.6%.
India’s manufacturing industry, which strives to maximise asset performance, is a notable market driver for vibration analysers.
The demand for vibration analysers in China is mainly driven by growing industrialisation and the necessity for preventative maintenance. Vibration monitoring market growth in China is set to achieve a CAGR of 11% through to 2033.
As the Chinese vibration monitoring market becomes lucrative, manufacturers must innovate and provide economical alternatives.

Key takeaways from the market are as follows:

The portable segment in the product type category is expected to grab a share of 81.2% from 2023 to 2033;
In the end-use category, the oil & gas segment is expected to acquire a market share of 17.8% between 2023 and 2033;
The USA vibration monitoring market will exhibit a CAGR of 5.1% by 2033;
The German vibration analysis equipment market is to escalate at a CAGR of 3.9% by 2033;
The Japanese vibration analysis equipment market is to register a CAGR of 5.9% by 2033;
The Chinese vibration monitoring market is expected to expand at a CAGR of 11% through to 2033;
The Indian vibration analyser market is expected to develop at a CAGR of 11.6% from 2023 to 2033; and
The UK vibration analysis system market is expected to evolve at a CAGR of 4.4% through to 2033.

Significant competition prevails among the market players regarding vibration analysers. The vibration analyser manufacturers are expanding their market share through numerous collaborations and introducing fresh products to gain a competitive edge.

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