Research and Markets: World Condition Monitoring Equipment Market

Research and Markets (http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.researchandmarkets.com%2Fresearch%2Fa4022a%2Fworld_condition_mo&esheet=6804668&lan=en-US&anchor=http%3A%2F%2Fwww.researchandmarkets.com%2Fresearch%2Fa4022a%2Fworld_condition_mo&index=1&md5=6a2841b4d16242b72962a65547792fcd) has announced the addition of Frost & Sullivan's new report "World Condition Monitoring Equipment Market" to their offering.
Recent analysis of the condition monitoring equipment market indicates that the industry is on an upswing, aided by recovery of key end-user markets and an industry-wide recognition of the cost-saving benefits of condition monitoring programs. While 2007 and 2008 were widely considered as one of the best years for the condition monitoring , like most other industries, the global condition monitoring equipment market went through a period of uncertainty and downsizing, due to the economic downturn. It, however, also served as a tool to reemphasize the importance of production and operational efficiency.

• The economic crisis of 2008-2009 had a considerable impact on the revenue of the global condition monitoring equipment market. Revenue declined in 2009 because several infrastructure projects were postponed to the following year and end users were forced to cut down on maintenance budgets.
• The market recovered significantly in 2010 with most end-user industries looking to invest in predictive maintenance programs. Demand from traditional markets, such as process/manufacturing and energy, as well as renewable energy and mining drove demand for condition monitoring in 2010.
• The vibration monitoring product segment continued to dominate market revenue in the overall condition monitoring market. Application and revenue for thermography and lubricating oil analysis equipment are also expected to grow at a steady pace during the forecast period.