FREEIntroduction to Uptime Elements Reliability Framework and Asset Management System

San Jose, CA (Vocus/PRWEB) January 06, 2011

Growth in the world machine condition monitoring equipment market has long been driven by capital investments in industries such as chemicals, petrochemicals, pulp & paper, metals, and heavy equipment manufacturing, among others. Condition monitoring has gained importance, over the years, as companies critically focused on asset utilization and productivity. The need for eliminating catastrophic breakdowns and unnecessary maintenance costs in production processes has and will continue to drive the adoption of condition monitoring solutions across several industries.

One of the few industries to flourish in adversity is the machine condition monitoring equipment market. A traditionally resilient vector of the industrial equipment market, machine condition monitoring equipment has recorded hardy growth against a backdrop of increased focus on reducing plant operating costs by reducing maintenance costs, optimizing maintenance activities during planned shutdowns and lowering the instances of unscheduled outages. In addition to rising competition, increasing energy costs and plant maintenance expenditures also eat into corporate bottomlines and machine condition assessment programs help optimize maintenance budgets and ease the pressure on operating expenses. While fall in the business confidence index, tighter lending standards, rising borrowing costs and the resulting shortages in credit availability to finance new plant establishments and upgradations, all resulted in sharp declines in sales of general industrial/plant machinery, demand for machine condition monitoring equipment has in contrast increased. A key reason primarily attributed, is the growing importance of predictive maintenance programs, especially so, against a backdrop of tight liquidity, which exerts added pressure on cost efficiency and justification of both fixed and variable expenses. Also, widespread postponement of new purchases of plant equipment has lengthened the replacement cycle thus requiring additional maintenance of aging installed base of machines.

The importance of condition monitoring is therefore magnified during tough economic conditions like the present, since intelligent asset management and control practices and strategies will help production plants identify inefficiencies in maintenance practices and streamline maintenance processes. And this acquires critical significance as companies struggle to reconcile the financial drain caused by current plant overcapacity and reduced market demand and still remain optimally positioned to operate on all cylinders when demand picks up post recession. Machine condition monitoring in this regard reduces the instances of unplanned maintenance, which have the potential to increase costs by disrupting production schedules and triggering collateral damage across the company’s entire production line, and time to market capabilities. Additionally, machine failure prevention products such as transmitters and vibration sensors are also seen as a measure to combat price increases, and decline in service levels.

Vibration-based condition monitoring holds the leading place amongst all condition-based maintenance technologies. On- and off-line vibration monitoring is widely used by industries that perform continuous production processes. In addition to vibration monitoring, other techniques used for machine condition monitoring include wear analysis, thermography, performance monitoring, degradation byproducts, and physical testing.

US and Europe account for a lion’s share of the global Machine Condition Monitoring Equipment market, as stated by the new market research report. The market in Asia-Pacific is displaying strong appetite for growth, thanks to the continuous infrastructure development and business expansion in the region, especially in emerging countries such as China and India. Of late, deregulation and a substantial increase in foreign direct investments in Asian countries has triggered establishment of new businesses across several industries in developing-economic and trade centers in Asia-Pacific. The resulting shifting of production bases from high cost developed countries to the low cost Asian countries also bodes well for the machine condition monitoring market in this region. Future growth will also be driven by increased availability of sophisticated condition monitoring equipment that can capture subtle changes in machine performance. Demand for Thermography Equipment in Asia-Pacific is expected to record a CAGR of more than 9.0% during the analysis period.

Major players in the marketplace include Brüel & Kjær Vibro, ClampOn AS, Corrpro Companies, Inc., Data Physics Corporation, DLI Engineering Corp, Emerson Process Management, FLIR Systems, Inc., GE Energy, Honeywell Process Solutions, ITT Corporation, Kittiwake Developments Limited, PCB Piezotronics Inc., Rockwell Automation, Inc., Rohrback Cosasco Systems, Scientific Monitoring, Inc., Shinkawa Electric Co., Ltd., SKF Condition Monitoring Inc., SPM Instrument AB, The Timken Company, among others.

The research report titled “Machine Condition Monitoring Equipment: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (in US$ Millions) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America and Rest of world. Product segments analyzed include Vibration Monitoring Equipment, Thermography Equipment, Lubricating Oil Analysis Equipment and Corrosion Monitoring Equipment.

For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Machine_Condition_Monitoring_Equipment_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

Upcoming Events

August 8 - August 10, 2023

Maximo World 2023

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022

Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022 The 36th International Maintenance Conference collocated with the RELIABILITY 4.0 Digital Transformation Conference [East]

Asset Management Technology

The aim of the Asset Management technology domain is to assure that IT/OT systems are focused on creating the value from the assets and that the business can deliver to achieve organizational objectives as informed by risk.

TRIRIGAWORLD AWARDS at MaximoWorld 2022

TRIRIGAWORLD AWARDS honors excellence in space optimization and facility management, A Reliabilityweb.com event to further advance asset management

IMC-2022 Who's Who: The World's Best Run Companies

The International Maintenance Conference (IMC) provides a fresh, positive community-based curated experience to gain knowledge and a positive perspective for advancing reliability and asset management through people, their managers, the strategy, the processes, the data and the technology. The world’s best-run companies are connecting the workforce, management, assets and data to automate asset knowledge that can be leveraged for huge beneficial decisions.

Uptime Elements Root Cause Analysis

Root Cause Analysis is a problem solving method. Professionals who are competent in Root Cause Analysis for problem solving are in high demand.

Reliability Risk Meter

The asset is not concerned with the management decision. The asset responds to physics

Why Reliability Leadership?

If you do not manage reliability culture, it manages you, and you may not even be aware of the extent to which this is happening!

Asset Condition Management versus Asset Health Index

Confusion abounds in language. Have you thought through the constraints of using the language of Asset Health?

Seven Chakras of Asset Management by Terrence O'Hanlon

The seven major asset management chakras run cross-functionally from the specification and design of assets through the asset lifecycle to the decommissioning and disposal of the asset connected through technology

Reliability Leader Fluid Cleanliness Pledge

Fluid Cleanliness is a Reliability Achievement Strategy as well as an asset life extension strategy