The machine condition monitoring market in North America was valued US$ 1,004.3 million in 2019 and is projected to reach US$ 1,380.9 million by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.
The growing industrialization is monumental, and the pace of manufacturing is climbing at a rapid rate over the years. The continuous growth in the number of manufacturing facilities around the word is resulting in the rise in demand for condition monitoring. The intensifying competition across industries worldwide is leading the manufacturers to increase their outputs by achieving greater efficiency. The manufacturers in various industries are increasingly focusing on analyzing the health and operability of each asset in their production plants, which is enabling them to boost productivity and earn profit.
The rate of adoption of automated technologies for manufacturing purposes in developed countries has surged over the years. This has fueled the growth of smart factories in various countries. The countries with a significantly higher number of manufacturing facilities include the US, China, Canada, the UK, Germany, Japan, and France, among others; the facilities in these countries are continually seeking automated technologies. With the continuously rising demand for production across industries, the expansion of manufacturing facilities is one of the crucial strategies adopted by the manufacturers. Theadoption of automated solutions across these rising number of manufacturing facilities is expected to propel the growth of the machine condition monitoring market in the coming years.
In terms of monitoring techniques, the vibration monitoring segment led the North American machine condition monitoring market in 2019 the largest share, and it is expected to continue to be the largest shareholder during the forecast period. However, the thermography segment is expected to grow at the highest CAGR in the machine condition monitoring market during the forecast period.Vibration monitoring is usually the key element of most condition-based maintenance programs. However, vibration monitoring cannot deliver all of the information required for an effective condition-based maintenance program. Its functioning is limited to mechanical condition monitoring, and it is not suitable to the assessment other vital parameters essential for maintaining consistency and effectiveness of machinery. Thus, a complete condition-based maintenance program should include additional monitoring as well as diagnostic techniques.
The North America machine condition monitoring market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America machine condition monitoring market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America machine condition monitoring market. A few of the players operating in the North America machine condition monitoring market are Emerson Electric, General Electric, SKF, National Instruments, Honeywell International Inc., Als Ltd., Meggitt, Parker Hannifin, Rockwell Automation, and Schaeffler.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Machine Condition Monitoring Market Landscape
4.1 Market Overview
4.2 PEST Analysis
 4.2.1 North America ? PEST Analysis
4.3 Ecosystem Analysis
5. North America Machine Condition Monitoring Market ? Key Market Dynamics
5.1 Market Drivers
 5.1.1 Increasing Demand for Automated Solutions in Manufacturing Facilities
5.2 Market Restraints
 5.2.1 High Cost of Maintenance and Lifespan of Machine Condition Monitoring Systems
5.3 Market Opportunities
 5.3.1 Rising Adoption of Wireless Technologies
5.4 Future Trends
 5.4.1 Revolutionization of Embedded Sensors and Smart Wireless Communication in the Market
5.5 Impact Analysis of Drivers and Restraints
6. North America Machine Condition Monitoring Market Analysis
6.1 Machine Condition Monitoring Market Overview
6.2 North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning ? Global Market Players Ranking
7. North America Machine Condition Monitoring Market Analysis ? By Monitoring Technique
7.1 Overview
7.2 North America Machine Condition Monitoring Market, By Monitoring Technique (2019 and 2027)
7.3 Vibration Monitoring
 7.3.1 Overview
 7.3.2 Vibration Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
7.4 Thermography
 7.4.1 Thermography: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
7.5 Oil Analysis
 7.5.1 Oil Analysis: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
7.6 Corrosion Monitoring
 7.6.1 Corrosion Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
7.7 Ultrasound Emission
 7.7.1 Ultrasound Emission: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
7.8 Motor Current Analysis
 7.8.1 Motor Current Analysis: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
8. North America Machine Condition Monitoring Market Analysis ? By Offering
8.1 Overview
8.2 North America Machine Condition Monitoring Market, By Offering (2019 and 2027)
8.3 Hardware
 8.3.1 Overview
 8.3.2 Hardware: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.3 Vibration Sensors
 8.3.3.1 Vibration Sensors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.4 Proximity Probes
 8.3.4.1 Proximity Probes: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.5 Tachometer
 8.3.5.1 Tachometer: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.6 Infrared Sensors
 8.3.6.1 Infrared Sensors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.7 Spectrometer
 8.3.7.1 Spectrometer: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.8 Ultrasound Detectors
 8.3.8.1 Ultrasound Detectors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.9 Corrosion Probes
 8.3.9.1 Corrosion Probes: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.3.10 Other
 8.3.10.1 Other: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
8.4 Software
 8.4.1 Software: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 8.4.2 Data Integrator
 8.4.3 Diagnosis Reporting
 8.4.4 Order Tracking Analysis
 8.4.5 Parameter Calculation
9. North America Machine Condition Monitoring Market Analysis ? By Deployment Type
9.1 Overview
9.2 North America Machine Condition Monitoring Market, By Deployment Type (2019 and 2027)
9.3 Cloud
 9.3.1 Overview
 9.3.2 Cloud: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
9.4 On-Premise
 9.4.1 Overview
 9.4.2 On-Premise: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
10. North America Machine Condition Monitoring Market Analysis ? By Monitoring Process
10.1 Overview
10.2 North America Machine Condition Monitoring Market, By Monitoring Process (2019 and 2027)
10.3 Online Condition Monitoring
 10.3.1 Overview
 10.3.2 Online Condition Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
10.4 Portable Condition Monitoring
 10.4.1 Overview
 10.4.2 Portable Condition Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
11. North America Machine Condition Monitoring Market Analysis ? By End User
11.1 Overview
11.2 North America Machine Condition Monitoring Market, By End User (2019 and 2027)
11.3 Oil & Gas
 11.3.1 Overview
 11.3.2 Oil & Gas: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
11.4 Power Generation
 11.4.1 Overview
 11.4.2 Power Generation: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
11.5 Automotive
 11.5.1 Overview
 11.5.2 Automotive: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
11.6 Aerospace & Defense
 11.6.1 Overview
 11.6.2 Aerospace & Defense: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
11.7 Food & Beverage
 11.7.1 Overview
 11.7.2 Food & Beverage: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
11.8 Manufacturing
 11.8.1 Overview
 11.8.2 Manufacturing: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
11.9 Other
 11.9.1 Overview
 11.9.2 Other: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
12. North America Machine Condition Monitoring Market ?Country Analysis
12.1 Overview
 12.1.1 North America: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 12.1.2 North America: Machine Condition Monitoring Market, By Monitoring Technique
 12.1.3 North America: Machine Condition Monitoring Market, By Offering
 12.1.3.1 North America: Machine Condition Monitoring Market, By Hardware
 12.1.4 North America: Machine Condition Monitoring Market, By Deployment Type
 12.1.5 North America: Machine Condition Monitoring Market, By Monitoring Process
 12.1.6 North America: Machine Condition Monitoring Market, By End User
 12.1.7 North America: Machine Condition Monitoring Market, By Country
 12.1.7.1 US: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 12.1.7.1.1 US: Machine Condition Monitoring Market, by Monitoring Technique
 12.1.7.1.2 US: Machine Condition Monitoring Market, by Offering
 12.1.7.1.2.1 US: Machine Condition Monitoring Market, by Hardware
 12.1.7.1.3 US: Machine Condition Monitoring Market, by Deployment Type
 12.1.7.1.4 US: Machine Condition Monitoring Market, by Monitoring Process
 12.1.7.1.5 US: Machine Condition Monitoring Market, by End User
 12.1.7.2 Canada: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 12.1.7.2.1 Canada: Machine Condition Monitoring Market, by Monitoring Technique
 12.1.7.2.2 Canada: Machine Condition Monitoring Market, by Offering
 12.1.7.2.2.1 Canada: Machine Condition Monitoring Market, by Hardware
 12.1.7.2.3 Canada: Machine Condition Monitoring Market, by Deployment Type
 12.1.7.2.4 Canada: Machine Condition Monitoring Market, by Monitoring Process
 12.1.7.2.5 Canada: Machine Condition Monitoring Market, by End User
 12.1.7.3 Mexico: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
 12.1.7.3.1 Mexico: Machine Condition Monitoring Market, by Monitoring Technique
 12.1.7.3.2 Mexico: Machine Condition Monitoring Market, by Offering
 12.1.7.3.2.1 Mexico: Machine Condition Monitoring Market, by Hardware
 12.1.7.3.3 Mexico: Machine Condition Monitoring Market, by Deployment Type
 12.1.7.3.4 Mexico: Machine Condition Monitoring Market, by Monitoring Process
 12.1.7.3.5 Mexico: Machine Condition Monitoring Market, by End User
13. Impact of Coronavirus Outbreak
13.1 North America: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 New Development
15. Company Profiles
15.1 Honeywell International Inc.
 15.1.1 Key Facts
 15.1.2 Business Description
 15.1.3 Products and Services
 15.1.4 Financial Overview
 15.1.5 SWOT Analysis
 15.1.6 Key Developments
15.2 Schaeffler Technologies AG & Co. KG
 15.2.1 Key Facts
 15.2.2 Business Description
 15.2.3 Products and Services
 15.2.4 Financial Overview
 15.2.5 SWOT Analysis
 15.2.6 Key Developments
15.3 General Electric Company
 15.3.1 Key Facts
 15.3.2 Business Description
 15.3.3 Products and Services
 15.3.4 Financial Overview
 15.3.5 SWOT Analysis
 15.3.6 Key Developments
15.4 Emerson Electric Co.
 15.4.1 Key Facts
 15.4.2 Business Description
 15.4.3 Products and Services
 15.4.4 Financial Overview
 15.4.5 SWOT Analysis
 15.4.6 Key Developments
15.5 Parker Hannifin Corporation
 15.5.1 Key Facts
 15.5.2 Business Description
 15.5.3 Products and Services
 15.5.4 Financial Overview
 15.5.5 SWOT Analysis
 15.5.6 Key Developments
15.6 Rockwell Automation, Inc.
 15.6.1 Key Facts
 15.6.2 Business Description
 15.6.3 Products and Services
 15.6.4 Financial Overview
 15.6.5 SWOT Analysis
 15.6.6 Key Developments
15.7 SKF
 15.7.1 Key Facts
 15.7.2 Business Description
 15.7.3 Products and Services
 15.7.4 Financial Overview
 15.7.5 SWOT Analysis
 15.7.6 Key Developments
15.8 Wilcoxon Sensing Technologies
 15.8.1 Key Facts
 15.8.2 Business Description
 15.8.3 Products and Services
 15.8.4 Financial Overview
 15.8.5 SWOT Analysis
 15.8.6 Key Developments
15.9 ALS Limited
 15.9.1 Key Facts
 15.9.2 Business Description
 15.9.3 Products and Services
 15.9.4 Financial Overview
 15.9.5 SWOT Analysis
 15.9.6 Key Developments
15.10 National Instruments Corporation
 15.10.1 Key Facts
 15.10.2 Business Description
 15.10.3 Products and Services
 15.10.4 Financial Overview
 15.10.5 SWOT Analysis
 15.10.6 Key Developments
16. Appendix
16.1 About
16.2 Word Index
LIST OF TABLES
Table 1. North America Machine Condition Monitoring Market ? Revenue, and Forecast to 2027 (US$ Million)
Table 2. North America Machine Condition Monitoring Market, By Monitoring Technique ? Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Machine Condition Monitoring Market, By Offering ? Revenue and Forecast to 2027 (US$ Million)
Table 4. America Machine Condition Monitoring Market, By Hardware ? Revenue and Forecast to 2027 (US$ Million)
Table 5. North America Machine Condition Monitoring Market, By Deployment Type ? Revenue and Forecast to 2027 (US$ Million)
Table 6. North America Machine Condition Monitoring Market, By Monitoring Process ? Revenue and Forecast to 2027 (US$ Million)
Table 7. North America Machine Condition Monitoring Market, By End User ? Revenue and Forecast to 2027 (US$ Million)
Table 8. North America Machine Condition Monitoring Market, By Country ? Revenue and Forecast to 2027 (US$ Million)
Table 9. US Machine Condition Monitoring Market, By Monitoring Technique ? Revenue and Forecast to 2027 (US$ Million)
Table 10. US Machine Condition Monitoring Market, By Offering ? Revenue and Forecast to 2027 (US$ Million)
Table 11. US Machine Condition Monitoring Market, By Hardware ? Revenue and Forecast to 2027 (US$ Million)
Table 12. US Machine Condition Monitoring Market, By Deployment Type ? Revenue and Forecast to 2027 (US$ Million)
Table 13. US Machine Condition Monitoring Market, By Monitoring Process ? Revenue and Forecast to 2027 (US$ Million)
Table 14. US Machine Condition Monitoring Market, By End User ? Revenue and Forecast to 2027 (US$ Million)
Table 15. Canada Machine Condition Monitoring Market, By Monitoring Technique ? Revenue and Forecast to 2027 (US$ Million)
Table 16. Canada Machine Condition Monitoring Market, By Offering ? Revenue and Forecast to 2027 (US$ Million)
Table 17. Canada Machine Condition Monitoring Market, By Hardware ? Revenue and Forecast to 2027 (US$ Million)
Table 18. Canada Machine Condition Monitoring Market, By Deployment Type ? Revenue and Forecast to 2027 (US$ Million)
Table 19. Canada Machine Condition Monitoring Market, By Monitoring Process ? Revenue and Forecast to 2027 (US$ Million)
Table 20. Canada Machine Condition Monitoring Market, By End User ? Revenue and Forecast to 2027 (US$ Million)
Table 21. Mexico Machine Condition Monitoring Market, By Monitoring Technique ? Revenue and Forecast to 2027 (US$ Million)
Table 22. Mexico Machine Condition Monitoring Market, By Offering ? Revenue and Forecast to 2027 (US$ Million)
Table 23. Mexico Machine Condition Monitoring Market, By Hardware ? Revenue and Forecast to 2027 (US$ Million)
Table 24. Mexico Machine Condition Monitoring Market, By Deployment Type ? Revenue and Forecast to 2027 (US$ Million)
Table 25. Mexico Machine Condition Monitoring Market, By Monitoring Process ? Revenue and Forecast to 2027 (US$ Million)
Table 26. Mexico Machine Condition Monitoring Market, By End User ? Revenue and Forecast to 2027 (US$ Million)
Table 27. List of Abbreviation
LIST OF FIGURES
Figure 1. Machine Condition Monitoring Market Segmentation
Figure 2. Machine Condition Monitoring Market Segmentation ? By Country
Figure 3. Global Machine Condition Monitoring Market Overview
Figure 4. Machine Condition Monitoring Market, by Country
Figure 5. Machine Condition Monitoring Market, By Monitoring Technique
Figure 6. North America ? PEST Analysis
Figure 7. Machine Condition Monitoring Market ? Ecosystem Analysis
Figure 8. Machine Condition Monitoring Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 10. North America Machine Condition Monitoring Market Revenue Share, by Monitoring Technique (2019 and 2027)
Figure 11. Vibration Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 12. Thermography: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 13. Oil Analysis: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 14. Corrosion Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 15. Ultrasound Emission: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 16. Motor Current Analysis: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Machine Condition Monitoring Market Revenue Share, by Offering (2019 and 2027)
Figure 18. Hardware: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 19. Vibration Sensors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 20. Proximity Probes: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 21. Tachometer: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 22. Infrared Sensors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 23. Spectrometer: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 24. Ultrasound Detectors: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 25. Corrosion Probes: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 26. Other: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 27. Software: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 28. North America Machine Condition Monitoring Market Revenue Share, by Deployment Type (2019 and 2027)
Figure 29. Cloud: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 30. On-Premise: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 31. North America Machine Condition Monitoring Market Revenue Share, by Monitoring Process (2019 and 2027)
Figure 32. Online Condition Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 33. Portable Condition Monitoring: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 34. North America Machine Condition Monitoring Market Revenue Share, by End User (2019 and 2027)
Figure 35. Oil & Gas: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 36. Power Generation: North America Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 37. Automotive: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
Figure 38. Aerospace & Defense: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
Figure 39. Food & Beverage: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
Figure 40. Manufacturing: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
Figure 41. Other: North America Machine Condition Monitoring Market ?Revenue and Forecast to 2027 (US$ Million)
Figure 42. North America: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 43. North America Machine Condition Monitoring Market Revenue Share, By Monitoring Technique (2019 and 2027)
Figure 44. North America Machine Condition Monitoring Market Revenue Share, By Offering (2019 and 2027)
Figure 45. North America Machine Condition Monitoring Market Revenue Share, By Hardware (2019 and 2027)
Figure 46. North America Machine Condition Monitoring Market Revenue Share, By Deployment Type (2019 and 2027)
Figure 47. North America Machine Condition Monitoring Market Revenue Share, By Monitoring Process (2019 and 2027)
Figure 48. North America Machine Condition Monitoring Market Revenue Share, By End User (2019 and 2027)
Figure 49. North America Machine Condition Monitoring Market Revenue Share, By Country (2019 and 2027)
Figure 50. US: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 51. Canada: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 52. Mexico: Machine Condition Monitoring Market ? Revenue and Forecast to 2027 (US$ Million)
Figure 53. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America Machine Condition Monitoring Market
1. Emerson Electric
2. General Electric.
3. SKF
4. National Instruments
5. Honeywell International Inc.
6. Als Ltd.
7. Meggitt
8. Parker Hannifin
9. Rockwell Automation
10. Schaeffler