Global Machine Condition Monitoring Equipment Market to Reach US$2.4 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Machine Condition Monitoring Equipment markets. The global market for Machine Condition Monitoring Equipment is projected to reach US$2.4 billion by 2017, primarily driven by factors such as growing prominence for capital asset management in manufacturing and processing industries, introduction of low-cost, yet scalable products, and fast-paced technology developments. Robust demand from developing markets in Asia-Pacific in particular, also augurs well for the market.

San Jose, CA (PRWEB) November 09, 2011

Follow us on LinkedIn - Machine condition monitoring assumes strategic significance within the manufacturing and process industries, whereby, integrity, productivity and reliability of a plant are ensured. Also referred to as asset health management, condition monitoring involves most of the expert monitoring techniques and strategic tools that help in decision making process. Given its role in maintaining capital assets in good form, the market prospects for machine condition monitoring equipment has long been influenced by capital investments in key end-use industries such as chemicals, petrochemicals, pulp & paper, metals, and heavy equipment manufacturing, among others. Growing prominence of plant asset management and the manufacturers' drive towards optimizing productivity and efficiency of plant assets have been driving demand for machine conditioning monitoring equipment over the years. Focus on asset utilization, and need to eliminate possible machinery breakdowns, which can potentially lead to unnecessary maintenance costs also fuelled rapid adoption of machine condition monitoring equipment.


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