Machine Condition Monitoring Equipment Industry Report Now Available from IBISWorld

The Machine Condition Monitoring Equipment Manufacturing industry will continue to post strong gains over the next five years, aided by technological developments and new products, according to a new report from IBISWorld, the nation's largest publisher of industry research. Demand will likely strengthen as markets increasingly adopt condition monitors that help them cut costs and avoid production downtime. Specifically, the development of lower-cost advanced CM equipment, combined with rapid processing functions, direct and wireless communication tools and improved software is anticipated to lead to further saturation of industry products into new markets. Combined with other positive demand drivers, such as growing foreign demand, revenue is forecast to increase at an annualized rate of 6.2% to $2.2 billion over the five years to 2016. In 2012, sales are projected to jump to $1.7 billion. For this reason, industry research firm IBISWorld has added a report on the Machine Condition Monitoring Equipment Manufacturing Industry to its growing Industrial Machinery Report collection.

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