Market Leader - Vibration Sensors Market
The vibration sensors market was valued at USD 2.0 billion in 2020 and is projected to reach USD 3.0 billion by 2025; it is expected to grow at a CAGR of 8.2% from 2020 to 2025. A few key factors driving the growth of this market are growing adoption of automated condition monitoring technologies for the development of smart factories, rising use of wireless systems for machine condition monitoring, ongoing transition from preventive to predictive maintenance, and increasing demand for vibration sensors from emerging applications.
Baker Hughes Company (US), TE Connectivity (Switzerland), SKF (Sweden), Honeywell International Inc. (US), Emerson Electric Co. (US), Robert Bosch (Germany), NXP Semiconductors (Switzerland) Omron Corp. (Japan), Rockwell Automation Inc. (US), National Instruments (US), Robert Bosch (Germany), Dytran Instruments, Inc. (US), KEYENCE Corp. (Japan), Fluke Corp. (US), Wilcoxon Sensing Technologies (US), PCB Piezotronics (US), and SPM instrument (Sweden), are among the major players in the vibration sensors market. Most of the leading companies have used product launches and developments as key strategies to boost their revenues.
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Top 2 Market Players:
Baker Hughes Company (US) (Baker Hughes) engages in the provision of oilfield products, services, and digital solutions. The Digital Solutions segment of the company offers vibration sensors under the Bently Nevada brand. Bently Nevada, a Baker Hughes business, offers a plant-wide, holistic suite of machine condition monitoring and protection hardware, software, and services. The company has a global presence in more than 120 countries across the Americas, EMEA, and APAC. To grow in the vibration sensors market, the company has developed a wide portfolio of vibration sensors with a variety of models for specific applications. The company has leveraged IoT in its compact and powerful wireless vibration sensors—Ranger Pro and condition-based monitoring system— to improve uptime, productivity, and safety. Ranger Pro can be used to gather important machine health data from a broad range of machinery across multiple industries, including power generation, oil & gas, mining, pulp & paper, and metal processing.
SKF (Sweden) is a manufacturer of machines and rotating equipment. It provides technical support, maintenance services, condition monitoring, asset efficiency optimization, engineering consultancy, and training services. The company provides vibration sensors for machine condition monitoring systems in industries such as oil and gas, energy and power, food and beverages, metals and mining, cement, and paper and pulp industries, among others. To grow in the vibration sensors market, the company has adopted a mix of organic and inorganic growth strategies, such as collaborations and product launches. The company aims to automate vibration data collection through the use of wireless vibration sensors, such as SKF Enlight Collect IMx-1, to increases defect detection rates and avoid unplanned machine shutdowns. SKF can help customers improve rotating equipment performance through faster and effective reporting on the state of components and assets.
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