Motor Monitoring Market

Motor Monitoring Market by Offering (Hardware, Software), Monitoring Process (Online, Portable), Deployment, Industry (Oil & Gas, Power Generation, Metals & Mining, Water & Wastewater, Automotive), and Region - Global Forecast to 2023

Report Code: SE 6940 Feb, 2019, by marketsandmarkets.com

[120 Pages Report] The motor monitoring market is expected to grow from USD 1.6 billion in 2018 to USD 2.3 billion by 2023, at a CAGR of 7.4% during the forecast period. The increasing popularity of wireless technologies in the industrial sector is a major factor driving the growth of the market.

Motor Monitoring Market

Hardware segment to dominate motor monitoring market during forecast period

Based on offering, the motor monitoring market has been segmented into hardware and software. Hardware is expected to hold the largest share of the market in 2018 owing to the criticality of the use of hardware to ensure basic-level monitoring of motors in plants or systems. Sensors and probes are the main types of hardware, and these are used to monitoring motor conditions by keeping a check on vibration, temperature, noise, and corrosion. Software segment is expected to witness significant growth during the forecast period owing to the growing need for data analytics to deduce faults or errors in motors in a manufacturing plant.

Online motor monitoring to register highest growth in motor monitoring market during forecast period

The market for online motor monitoring is expected to witness the highest CAGR during the forecast period. This growth is credited to its ability to provide an advanced solution and real-time data to the operators. Online vibration monitoring systems have applications in industries demanding 24-hour production. This type of monitoring process is generally used in production-intensive industries, such as oil & gas, power generation, and mining as they have a higher probability of motor failure.

Motor monitoring market for automotive industry to grow at highest CAGR during forecast period

The global automotive industry is emphasizing on automating and upgrading assembly lines, which require continuous monitoring of motors to avoid downtimes. Motor current analysis helps reduce machine failures and extend the life of machines. The automotive industry is witnessing significant growth in the number of units produced per day; this triggers the need for proper maintenance machinery on the production floor to shorten production cycle and increase the production output, without hampering the product quality. This is expected to be the key factor contributing to the highest growth of the market for the automotive industry.

Motor Monitoring Market

North America to hold largest share in motor monitoring market in 2018

North America is the major revenue-generating region in the global motor monitoring market. It is one of the most advanced regions with regard to the adoption of advanced technologies and infrastructure network. Constant advancements in the motor monitoring software, such as developments in cloud computing and security measures for cloud users, are expected to boost the growth of the market in North America.

Key Market Players

Key players in the motor monitoring market are Banner Engineering (US), ABB (Switzerland), National Instruments (US), SKF (Sweden), Siemens (Germany), Honeywell (US), General Electric (US), Emerson Electric (US), Rockwell Automation (US), Qualitrol (US), Schneider Electric (France), Mitsubishi Electric (Japan), Advantech (Taiwan), Eaton (Ireland), WEG (Brazil), Dynapar (US), KCF Technologies (US), Phoenix Contact (Germany), T.F. Hudgins (US), and Koncar (Croatia).

ABB offers a diverse range of motor condition monitoring products, tools, and services. The company’s motor monitoring offerings include smart sensors, predictive maintenance services, and drive condition monitoring solutions. ABB is one of the leading players in the power and automation industry, and it has operations in all major regions. It is known for its automation solutions in the oil & gas industry. In 2017, the company spent 4.0% of its total revenue on R&D, which totals up to USD 1.37 billion. ABB utilizes such high shares of R&D spending to keep it updated in all its product categories.

Recent Developments

  • In August 2018, the Electrification Products division of ABB announced its strategy of leveraging the ABB Ability Marketplace for the commercialization of the ABB Ability Electrical Distribution Control System through a software-as-a-service model, carrying the electrical distribution system for plants and buildings.
  • In July 2018, ABB Control Technologies division collaborated with Actemium with an aim to deliver leading automation solutions that are tailored for individual needs of customers.
  • In March 2017, GE Oil & Gas introduced TransPort PT900 Portable Ultrasonic Flow Meter, a clamp-on meter for liquid flow measurement. The design of TransPort was majorly derived from significant customer input and market research, ensuring an all-new transmitter and clamping fixture and app-driven user interface on an Android tablet.

Key Questions Addressed by Report

  • Where will all these developments take the industry in the mid to long term?
  • Which industries are likely to provide application areas for monitor monitoring systems?
  • What are the drivers, challenges, and restraints impacting the motor monitoring market?
  • Which type of monitoring process is expected to be used widely in the mid to long term?
  • Which region is expected to have a significant demand for monitor monitoring?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Content

1 Introduction
    1.1 Objective of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency and Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Market Size Estimation
           2.1.1 Bottom-Up Approach
           2.1.2 Top-Down Approach
    2.2 Market Breakdown and Data Triangulation
           2.2.1 Key Data From Secondary Sources
           2.2.2 Key Data From Primary Sources
                    2.2.2.1 Key Industry Insights
    2.3 Assumptions

3 Executive Summary

4 Premium Insights

5 Market Overview
    5.1 Introduction
    5.2 Market Segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
           5.3.2 Restraints
           5.3.3 Opportunities
           5.3.4 Challenges
    5.4 Value Chain Analysis

6 Market By Offerings
    6.1 Introduction
    6.2 Hardware
           6.2.1 Vibration Sensor
           6.2.2 Infrared Sensor
           6.2.3 Corrosion Probes
           6.2.4 Ultrasound Detector
           6.2.5 Spectrum Analyzer
           6.2.6 Others
    6.3 Software

7 Market By Monitoring Process
    7.1 Introduction
    7.2 Online
    7.3 Portable

8 Market By Deployment
    8.1 Introduction
    8.2 On-Premise
    8.3 Cloud

9 Market By Vertical
    9.1 Introduction 
    9.2 Metals & Mining
    9.3 Oil & Gas
    9.4 Power Generation
    9.5 Water & Wastewater
    9.6 Food & Beverages
    9.7 Chemicals
    9.8 Automotive
    9.9 Aerospace & Defense
    9.10 Others

10 Market By Geography
     10.1 North America
             10.1.1 U.S.
             10.1.2 Canada
             10.1.3 Mexico
     10.2 Europe
             10.2.1 Germany
             10.2.2 U.K.
             10.2.3 France
             10.2.4 Italy
             10.2.5 Rest of Europe
     10.3 Asia-Pacific (APAC)
             10.3.1 China
             10.3.2 Japan
             10.3.3 South Korea
             10.3.4 India
             10.3.5 Rest of APAC
     10.4 Rest of the World (RoW)
             10.4.1 Middle East & Africa
             10.4.2 South America

11 Competitive Landscape
     11.1 Introduction 
     11.2 Market Ranking Analysis 
     11.3 Competitive Situations and Trends 
             11.3.1 Product Launches and Developments
             11.3.2 Partnerships, and Collaboration
             11.3.3 Contracts and Agreements
             11.3.4 Expansions

12 Company Profile
     12.1 Introduction 
     12.2 Banner Engineering
     12.3 ABB
     12.4 National Instruments
     12.5 SKF (Baker Instrument Company)
     12.6 Siemens
     12.7 Honeywell
     12.8 General Electric
     12.9 Emerson Electric
     12.10 Rockwell Automation
     12.11 Qualitrol
     12.12 Other Company
             12.12.1 Schneider Electric
             12.12.2 Mitsubishi Electric
             12.12.3 Advantech
             12.12.4 Eaton
             12.12.5 Weg Group
             12.12.6 Dynapar
             12.12.7 KCF Technologies
             12.12.8 Phoenix Contact
             12.12.9 T.F. Hudgins
             12.12.10 Koncar

13 Appendix


List of Tables (64 Tables)

Table 1 Motor Monitoring Market, By Offering, 2015–2023 (USD Million)
Table 2 Motor Monitoring Hardware Market, By Component Type, 2015–2023 (USD Million)
Table 3 Motor Monitoring Market, By Monitoring Process, 2015–2023 (USD Million)
Table 4 Motor Monitoring Software Market, By Deployment Type, 2015–2023 (USD Million)
Table 5 Market, By Industry, 2015–2023 (USD Million)
Table 6 Market for Oil & Gas, By Region, 2015–2023 (USD Million)
Table 7 Market for Oil & Gas in North America, By Country, 2015–2023 (USD Million)
Table 8 Market for Oil & Gas in RoW, By Region, 2015–2023 (USD Million)
Table 9 Market for Metals & Mining, By Region, 2015–2023 (USD Million)
Table 10 Market for Metals & Mining in North America, By Country, 2015–2023 (USD Million)
Table 11 Market for Metals & Mining in RoW, By Region, 2015–2023 (USD Million)
Table 12 Market for Power Generation, By Region, 2015–2023 (USD Million)
Table 13 Market for Power Generation in North America, By Country, 2015–2023 (USD Million)
Table 14 Market for Power Generation in APAC, By Country, 2015–2023 (USD Million)
Table 15 Market for Automotive, By Region, 2015–2023 (USD Million)
Table 16 Market for Automotive in Europe, By Country, 2015–2023 (USD Million)
Table 17 Market for Automotive in APAC, By Country, 2015–2023 (USD Million)
Table 18 Market for Chemicals, By Region, 2015–2023 (USD Million)
Table 19 Market for Chemicals in North America, By Country, 2015–2023 (USD Million)
Table 20 Market for Chemicals in APAC, By Country, 2015–2023 (USD Million)
Table 21 Market for Water & Wastewater, By Region, 2015–2023 (USD Million)
Table 22 Market for Water and Wastewater in North America, By Country, 2015–2023 (USD Million)
Table 23 Market for Water and Wastewater in APAC, By Country, 2015–2023 (USD Million)
Table 24 Market for Food & Beverages, By Region, 2015–2023 (USD Million)
Table 25 Market for Food & Beverages in Noth America, By Country, 2015–2023 (USD Million)
Table 26 Market for Food & Beverages in APAC, By Country, 2015–2023 (USD Million)
Table 27 Market for Aerospace & Defense, By Region, 2015–2023 (USD Million)
Table 28 Market for Aerospace & Defense in Noth America, By Country, 2015–2023 (USD Million)
Table 29 Market for Aerospace & Defense in Europe, By Country 2015–2023 (USD Million)
Table 30 Market for Other Industries, By Region, 2015–2023 (USD Million)
Table 31 Market for Other Industries in Noth America, By Country, 2015–2023 (USD Million)
Table 32 Market for Other Industries in Asia Pacific, By Country 2015–2023 (USD Million)
Table 33 Market, By Region, 2015–2023 (USD Billion)
Table 34 Market in North America, By Country, 2015–2023 (USD Million)
Table 35 Market in North America, By Offering, 2015–2023 (USD Million)
Table 36 Market in North America, By Industry, 2015–2023 (USD Million)
Table 37 Market in US, By Industry, 2015–2023 (USD Million)
Table 38 Market in Canada, By Industry, 2015–2023 (USD Million)
Table 39 Market in Mexico, By Industry, 2015–2023 (USD Million)
Table 40 Market in Europe, By Geography, 2015–2023 (USD Million)
Table 41 Market in Europe, By Offering, 2015–2023 (USD Million)
Table 42 Market in Europe, By Industry, 2015–2023 (USD Million)
Table 43 Market in Germany, By Industry, 2015–2023 (USD Million)
Table 44 Market in UK, By Industry, 2015–2023 (USD Million)
Table 45 Market in France, By Industry, 2015–2023 (USD Million)
Table 46 Market in Italy, By Industry, 2015–2023 (USD Million)
Table 47 Market in Rest of Europe, By Industry, 2015–2023 (USD Million)
Table 48 Market in APAC, By Geography, 2015–2023 (USD Million)
Table 49 Market in Asia Pacific, By Offering, 2015–2023 (USD Million)
Table 50 Market in APAC, By Industry, 2015–2023 (USD Million)
Table 51 Market in China, By Industry, 2015–2023 (USD Million)
Table 52 Market in Japan, By Industry, 2015–2023 (USD Million)
Table 53 Market in South Korea, By Industry, 2015–2023 (USD Million)
Table 54 Market in India, By Industry, 2015–2023 (USD Million)
Table 55 Motor Monitoring Market in Rest of APAC, By Industry, 2015–2023 (USD Million)
Table 56 Motor Monitoring Market in RoW, By Region, 2015–2023 (USD Million)
Table 57 Motor Monitoring Market in RoW, By Offering, 2015–2023 (USD Million)
Table 58 Motor Monitoring Market in RoW, By Industry, 2015–2023 (USD Million)
Table 59 Motor Monitoring Market in Middle East and Africa, By Industry, 2015–2023 (USD Million)
Table 60 Motor Monitoring Market in South America, By Industry, 2015–2023 (USD Million)
Table 61 Rank of Motor Monitoring Market Players, 2017
Table 62 10 Most Recent Product Launches, and Developments in Motor Monitoring Market
Table 63 Partnerships in Motor Monitoring Market
Table 64 Contracts in Motor Monitoring Market


List of Figures (17 Figures)

Figure 1 Motor Monitoring Market Segmentation
Figure 2 Geographic Snapshot of Motor Monitoring Market , 2017
Figure 3 North America: Motor Monitoring Market Snapshot
Figure 4 Europe: Motor Monitoring Market Snapshot
Figure 5 Asia Pacific: Motor Monitoring Market Snapshot
Figure 6 RoW: Motor Monitoring Market Snapshot
Figure 7 Key Developments Adopted By Leading Players in Motor Monitoring Market During October 2015–2018
Figure 8 Banner Engineering: Company Snapshot (2017)
Figure 9 ABB: Company Snapshot
Figure 10 National Instruments: Company Snapshot
Figure 11 SKF: Company Snapshot
Figure 12 Siemens: Company Snapshot
Figure 13 Honeywell: Company Snapshot
Figure 14 General Electric: Company Snapshot
Figure 15 Emerson Electric: Company Snapshot
Figure 16 Rockwell Automation: Company Snapshot
Figure 17 Qualitrol: Company Snapshot

The study involved 4 major activities to estimate the current size of the motor monitoring market. Exhaustive secondary research was done to collect information about the market being studied, along with its peer and parent markets. The next step was to validate these findings, assumptions, and sizing, with industry experts across value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources—such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet—have been referred to for identifying and collecting information for this study. The other secondary sources used during the study included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

Several stakeholders in the motor monitoring market are raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the metals & mining, oil & gas, power generation, water & wastewater, food & beverages, chemicals, automotive, aerospace & defense, agriculture, electronics & semiconductor industries. The supply side highlights the advancements in technology and diverse use cases. Various primary sources from both supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents has been provided below.

Motor Monitoring Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both, top-down and bottom-up approaches were implemented to estimate and validate the total size of the motor monitoring market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size has been mentioned in brief below:

  • Key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data were triangulated by studying various factors and trends from both the demand and supply sides in the metals & mining, oil & gas, power generation, water & wastewater, food & beverages, chemicals, automotive, aerospace & defense, agriculture, and electronics & semiconductor industries.

Report Objectives

  • To define, describe, and forecast the motor monitoring market, in terms of value, segmented on the basis of offerings, monitoring process, deployment, industry, and geography
  • To forecast the market size with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges the growth of the motor monitoring market
  • To provide an overview of the value chain analysis pertaining to the motor monitoring industry
  • To strategically analyze each submarket with respect to individual growth trends and contribution to the overall motor monitoring market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the motor monitoring market
  • To profile key players in the motor monitoring market and comprehensively analyze their core competencies
  • To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global motor monitoring market

Scope of Report

Report Metric

Details

Market size available for years

2015–2023

Base year considered

2017

Forecast period

2018 – 2023

Market size units (value)

USD billion/million

Segments covered

Offering, monitoring process, deployment, industry, and region

Regions covered

North America, Asia Pacific, Europe, and Rest of the World

Companies Covered

Banner Engineering (US), ABB (Switzerland), National Instruments (US), SKF (Sweden), Siemens (Germany), Honeywell (US), General Electric (US), Emerson Electric (US), Rockwell Automation (US), and Qualitrol (US)
Total 20 ecosystem players have been covered.

This research report categorizes the motor monitoring market based on offering, monitoring process, deployment, industry, and region.

On the basis of Offering, the motor monitoring market has been segmented as follows:

  • Hardware
    • Vibration Sensors
    • Infrared Sensors
    • Corrosion Probes
    • Ultrasound Detectors
    • Spectrum Analyzers
    • Others
  • Software

On the basis of Monitoring Process, the motor monitoring market has been segmented as follows:

  • Online
  • Portable

On the basis of Deployment, the motor monitoring market has been segmented as follows:

  • On-Premises
  • Cloud

On the basis of Industry, the motor monitoring market has been segmented as follows:

  • Metals & Mining
  • Oil & Gas
  • Power Generation
  • Water & Wastewater
  • Food & Beverages
  • Chemicals
  • Automotive
  • Aerospace & Defense
  • Others (Agriculture and Electronics & Semiconductor)

On the basis of Region, the motor monitoring market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain

Regional Analysis

  • Further provide the breakdown of the regional markets, by offering, into countries
Report Code
SE 6940
Published ON
Feb, 2019
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