Machine Condition Monitoring Equipment Market Size & Opportunities Analysis - Growth Strategies, Competitiveness, and Forecasts (2025

Description

The machine condition monitoring equipment market is expected to experience substantial growth, with a market size of USD 3.5 billion in 2024. The market is predicted to reach USD 6.6 billion by 2032, advancing at a compound annual growth rate (CAGR) of 8.5% from 2025 to 2032. This growth is driven by the increasing need for predictive maintenance, rising industrial automation, and the growing demand for minimizing equipment downtime and maximizing operational efficiency.

Machine condition monitoring equipment is essential for monitoring the health of machinery and detecting potential issues before they lead to failures. With industries increasingly adopting automated and IoT-connected solutions, machine condition monitoring is becoming a crucial part of maintaining the operational efficiency of industrial equipment across manufacturing, energy, and transportation sectors. The shift towards Industry 4.0 and the integration of real-time monitoring technologies are fueling the demand for advanced machine condition monitoring systems.

Key Insights

The machine condition monitoring equipment market is projected to grow at a CAGR of 8.5% from 2025 to 2032, reaching USD 6.6 billion by 2032, up from USD 3.5 billion in 2024.

The increasing focus on predictive maintenance, which reduces unplanned downtime and maintenance costs, is a key factor driving the demand for machine condition monitoring equipment.

The adoption of advanced technologies such as IoT, AI, and big data analytics in machine condition monitoring systems is allowing for more precise, real-time monitoring and analysis of machine health, improving maintenance decision-making.

The manufacturing sector remains a major end-user of condition monitoring equipment, where the need for uninterrupted production and reduced equipment failure is a critical factor in maintaining profitability and operational efficiency.

Industries such as oil and gas, energy, and transportation are also significant contributors to market growth, as equipment reliability is essential in these sectors for minimizing operational disruptions and ensuring safety.

Vibration monitoring, thermography, and acoustic emission technologies are widely used in condition monitoring systems, with vibration monitoring expected to dominate the market due to its proven effectiveness in detecting early signs of equipment failure.

The increasing demand for automation and smart manufacturing processes in industrial sectors is driving the adoption of integrated condition monitoring systems that can work with existing machinery and provide detailed performance data.

The market is benefiting from the shift towards Industry 4.0, where digitalization, automation, and remote monitoring are transforming industrial maintenance practices.

The growing emphasis on energy efficiency and sustainability in industrial operations is further driving the demand for condition monitoring systems, as these tools help optimize energy consumption and reduce waste.

The competitive landscape includes major players such as SKF, Emerson Electric, Honeywell International, and Rockwell Automation, all of which are focused on advancing product offerings through innovations and providing more integrated, intelligent solutions to meet the rising demands of industries.

Emerging markets, particularly in Asia-Pacific and Latin America, are expected to present significant growth opportunities due to expanding industrialization and the increasing adoption of advanced maintenance technologies in these regions.

Product Code: 10331

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Type
- 1.4.2. Market Size Breakdown, by Moniotoring Type
- 1.4.3. Market Size Breakdown, by Monitoring System
- 1.4.4. Market Size Breakdown, by Deployment Type
- 1.4.5. Market Size Breakdown, by End User
- 1.4.6. Market Size Breakdown, by Region
- 1.4.7. Market Size Breakdown, by Country
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Impact of COVID-19
5.4. Sociopolitical Impact
5.5. Porter's Five Forces Analysis
- 5.5.1. Bargaining Power of Buyers
- 5.5.2. Bargaining Power of Suppliers
- 5.5.3. Threat of New Entrants
- 5.5.4. Intensity of Rivalry
- 5.5.5. Threat of Substitutes
5.6. Innovation and Technology Trends
5.7. Supply Chain and Value Chain Insights
5.8. Economic and Regulatory Impact
5.9. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2024)
- 6.2.1. Global
- 6.2.2. North America
- 6.2.3. Europe
- 6.2.4. Asia-Pacific
- 6.2.5. Latin America
- 6.2.6. Middle East & Africa
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. Global Market

7.1. Overview
7.2. Market Revenue, by Type (2019-2032)
7.3. Market Revenue, by Moniotoring Type (2019-2032)
7.4. Market Revenue, by Monitoring System (2019-2032)
7.5. Market Revenue, by Deployment Type (2019-2032)
7.6. Market Revenue, by End User (2019-2032)
7.7. Market Revenue, by Region (2019-2032)

Chapter 8. North America Market

8.1. Overview
8.2. Market Revenue, by Type (2019-2032)
8.3. Market Revenue, by Moniotoring Type (2019-2032)
8.4. Market Revenue, by Monitoring System (2019-2032)
8.5. Market Revenue, by Deployment Type (2019-2032)
8.6. Market Revenue, by End User (2019-2032)
8.7. Market Revenue, by Country (2019-2032)

Chapter 9. Europe Market

9.1. Overview
9.2. Market Revenue, by Type (2019-2032)
9.3. Market Revenue, by Moniotoring Type (2019-2032)
9.4. Market Revenue, by Monitoring System (2019-2032)
9.5. Market Revenue, by Deployment Type (2019-2032)
9.6. Market Revenue, by End User (2019-2032)
9.7. Market Revenue, by Country (2019-2032)

Chapter 10. Asia-Pacific Market

10.1. Overview
10.2. Market Revenue, by Type (2019-2032)
10.3. Market Revenue, by Moniotoring Type (2019-2032)
10.4. Market Revenue, by Monitoring System (2019-2032)
10.5. Market Revenue, by Deployment Type (2019-2032)
10.6. Market Revenue, by End User (2019-2032)
10.7. Market Revenue, by Country (2019-2032)

Chapter 11. Latin America Market

11.1. Overview
11.2. Market Revenue, by Type (2019-2032)
11.3. Market Revenue, by Moniotoring Type (2019-2032)
11.4. Market Revenue, by Monitoring System (2019-2032)
11.5. Market Revenue, by Deployment Type (2019-2032)
11.6. Market Revenue, by End User (2019-2032)
11.7. Market Revenue, by Country (2019-2032)

Chapter 12. Middle East & Africa Market

12.1. Overview
12.2. Market Revenue, by Type (2019-2032)
12.3. Market Revenue, by Moniotoring Type (2019-2032)
12.4. Market Revenue, by Monitoring System (2019-2032)
12.5. Market Revenue, by Deployment Type (2019-2032)
12.6. Market Revenue, by End User (2019-2032)
12.7. Market Revenue, by Country (2019-2032)

Chapter 13. U.S. Market

13.1. Overview
13.2. Economic Indicators
13.3. Demographics and Population Insights
13.4. Regional Hotspots
13.5. Growth Drivers
13.6. Challenges and Barriers
13.7. Competitive Strategies
13.8. Emerging Players
13.9. Import/Export Policies
13.10. Compliance Requirements
13.11. Emerging Investment Areas
13.12. Major Ongoing Projects
13.13. Market Size and Forecast
- 13.13.1. Market Revenue, by Type (2019-2032)
- 13.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 13.13.3. Market Revenue, by Monitoring System (2019-2032)
- 13.13.4. Market Revenue, by Deployment Type (2019-2032)
- 13.13.5. Market Revenue, by End User (2019-2032)

Chapter 14. Canada Market

14.1. Overview
14.2. Economic Indicators
14.3. Demographics and Population Insights
14.4. Regional Hotspots
14.5. Growth Drivers
14.6. Challenges and Barriers
14.7. Competitive Strategies
14.8. Emerging Players
14.9. Import/Export Policies
14.10. Compliance Requirements
14.11. Emerging Investment Areas
14.12. Major Ongoing Projects
14.13. Market Size and Forecast
- 14.13.1. Market Revenue, by Type (2019-2032)
- 14.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 14.13.3. Market Revenue, by Monitoring System (2019-2032)
- 14.13.4. Market Revenue, by Deployment Type (2019-2032)
- 14.13.5. Market Revenue, by End User (2019-2032)

Chapter 15. U.K. Market

15.1. Overview
15.2. Economic Indicators
15.3. Demographics and Population Insights
15.4. Regional Hotspots
15.5. Growth Drivers
15.6. Challenges and Barriers
15.7. Competitive Strategies
15.8. Emerging Players
15.9. Import/Export Policies
15.10. Compliance Requirements
15.11. Emerging Investment Areas
15.12. Major Ongoing Projects
15.13. Market Size and Forecast
- 15.13.1. Market Revenue, by Type (2019-2032)
- 15.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 15.13.3. Market Revenue, by Monitoring System (2019-2032)
- 15.13.4. Market Revenue, by Deployment Type (2019-2032)
- 15.13.5. Market Revenue, by End User (2019-2032)

Chapter 16. Germany Market

16.1. Overview
16.2. Economic Indicators
16.3. Demographics and Population Insights
16.4. Regional Hotspots
16.5. Growth Drivers
16.6. Challenges and Barriers
16.7. Competitive Strategies
16.8. Emerging Players
16.9. Import/Export Policies
16.10. Compliance Requirements
16.11. Emerging Investment Areas
16.12. Major Ongoing Projects
16.13. Market Size and Forecast
- 16.13.1. Market Revenue, by Type (2019-2032)
- 16.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 16.13.3. Market Revenue, by Monitoring System (2019-2032)
- 16.13.4. Market Revenue, by Deployment Type (2019-2032)
- 16.13.5. Market Revenue, by End User (2019-2032)

Chapter 17. France Market

17.1. Overview
17.2. Economic Indicators
17.3. Demographics and Population Insights
17.4. Regional Hotspots
17.5. Growth Drivers
17.6. Challenges and Barriers
17.7. Competitive Strategies
17.8. Emerging Players
17.9. Import/Export Policies
17.10. Compliance Requirements
17.11. Emerging Investment Areas
17.12. Major Ongoing Projects
17.13. Market Size and Forecast
- 17.13.1. Market Revenue, by Type (2019-2032)
- 17.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 17.13.3. Market Revenue, by Monitoring System (2019-2032)
- 17.13.4. Market Revenue, by Deployment Type (2019-2032)
- 17.13.5. Market Revenue, by End User (2019-2032)

Chapter 18. Italy Market

18.1. Overview
18.2. Economic Indicators
18.3. Demographics and Population Insights
18.4. Regional Hotspots
18.5. Growth Drivers
18.6. Challenges and Barriers
18.7. Competitive Strategies
18.8. Emerging Players
18.9. Import/Export Policies
18.10. Compliance Requirements
18.11. Emerging Investment Areas
18.12. Major Ongoing Projects
18.13. Market Size and Forecast
- 18.13.1. Market Revenue, by Type (2019-2032)
- 18.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 18.13.3. Market Revenue, by Monitoring System (2019-2032)
- 18.13.4. Market Revenue, by Deployment Type (2019-2032)
- 18.13.5. Market Revenue, by End User (2019-2032)

Chapter 19. Russia Market

19.1. Overview
19.2. Economic Indicators
19.3. Demographics and Population Insights
19.4. Regional Hotspots
19.5. Growth Drivers
19.6. Challenges and Barriers
19.7. Competitive Strategies
19.8. Emerging Players
19.9. Import/Export Policies
19.10. Compliance Requirements
19.11. Emerging Investment Areas
19.12. Major Ongoing Projects
19.13. Market Size and Forecast
- 19.13.1. Market Revenue, by Type (2019-2032)
- 19.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 19.13.3. Market Revenue, by Monitoring System (2019-2032)
- 19.13.4. Market Revenue, by Deployment Type (2019-2032)
- 19.13.5. Market Revenue, by End User (2019-2032)

Chapter 20. China Market

20.1. Overview
20.2. Economic Indicators
20.3. Demographics and Population Insights
20.4. Regional Hotspots
20.5. Growth Drivers
20.6. Challenges and Barriers
20.7. Competitive Strategies
20.8. Emerging Players
20.9. Import/Export Policies
20.10. Compliance Requirements
20.11. Emerging Investment Areas
20.12. Major Ongoing Projects
20.13. Market Size and Forecast
- 20.13.1. Market Revenue, by Type (2019-2032)
- 20.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 20.13.3. Market Revenue, by Monitoring System (2019-2032)
- 20.13.4. Market Revenue, by Deployment Type (2019-2032)
- 20.13.5. Market Revenue, by End User (2019-2032)

Chapter 21. Japan Market

21.1. Overview
21.2. Economic Indicators
21.3. Demographics and Population Insights
21.4. Regional Hotspots
21.5. Growth Drivers
21.6. Challenges and Barriers
21.7. Competitive Strategies
21.8. Emerging Players
21.9. Import/Export Policies
21.10. Compliance Requirements
21.11. Emerging Investment Areas
21.12. Major Ongoing Projects
21.13. Market Size and Forecast
- 21.13.1. Market Revenue, by Type (2019-2032)
- 21.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 21.13.3. Market Revenue, by Monitoring System (2019-2032)
- 21.13.4. Market Revenue, by Deployment Type (2019-2032)
- 21.13.5. Market Revenue, by End User (2019-2032)

Chapter 22. India Market

22.1. Overview
22.2. Economic Indicators
22.3. Demographics and Population Insights
22.4. Regional Hotspots
22.5. Growth Drivers
22.6. Challenges and Barriers
22.7. Competitive Strategies
22.8. Emerging Players
22.9. Import/Export Policies
22.10. Compliance Requirements
22.11. Emerging Investment Areas
22.12. Major Ongoing Projects
22.13. Market Size and Forecast
- 22.13.1. Market Revenue, by Type (2019-2032)
- 22.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 22.13.3. Market Revenue, by Monitoring System (2019-2032)
- 22.13.4. Market Revenue, by Deployment Type (2019-2032)
- 22.13.5. Market Revenue, by End User (2019-2032)

Chapter 23. Brazil Market

23.1. Overview
23.2. Economic Indicators
23.3. Demographics and Population Insights
23.4. Regional Hotspots
23.5. Growth Drivers
23.6. Challenges and Barriers
23.7. Competitive Strategies
23.8. Emerging Players
23.9. Import/Export Policies
23.10. Compliance Requirements
23.11. Emerging Investment Areas
23.12. Major Ongoing Projects
23.13. Market Size and Forecast
- 23.13.1. Market Revenue, by Type (2019-2032)
- 23.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 23.13.3. Market Revenue, by Monitoring System (2019-2032)
- 23.13.4. Market Revenue, by Deployment Type (2019-2032)
- 23.13.5. Market Revenue, by End User (2019-2032)

Chapter 24. Mexico Market

24.1. Overview
24.2. Economic Indicators
24.3. Demographics and Population Insights
24.4. Regional Hotspots
24.5. Growth Drivers
24.6. Challenges and Barriers
24.7. Competitive Strategies
24.8. Emerging Players
24.9. Import/Export Policies
24.10. Compliance Requirements
24.11. Emerging Investment Areas
24.12. Major Ongoing Projects
24.13. Market Size and Forecast
- 24.13.1. Market Revenue, by Type (2019-2032)
- 24.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 24.13.3. Market Revenue, by Monitoring System (2019-2032)
- 24.13.4. Market Revenue, by Deployment Type (2019-2032)
- 24.13.5. Market Revenue, by End User (2019-2032)

Chapter 25. Argentina Market

25.1. Overview
25.2. Economic Indicators
25.3. Demographics and Population Insights
25.4. Regional Hotspots
25.5. Growth Drivers
25.6. Challenges and Barriers
25.7. Competitive Strategies
25.8. Emerging Players
25.9. Import/Export Policies
25.10. Compliance Requirements
25.11. Emerging Investment Areas
25.12. Major Ongoing Projects
25.13. Market Size and Forecast
- 25.13.1. Market Revenue, by Type (2019-2032)
- 25.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 25.13.3. Market Revenue, by Monitoring System (2019-2032)
- 25.13.4. Market Revenue, by Deployment Type (2019-2032)
- 25.13.5. Market Revenue, by End User (2019-2032)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Economic Indicators
26.3. Demographics and Population Insights
26.4. Regional Hotspots
26.5. Growth Drivers
26.6. Challenges and Barriers
26.7. Competitive Strategies
26.8. Emerging Players
26.9. Import/Export Policies
26.10. Compliance Requirements
26.11. Emerging Investment Areas
26.12. Major Ongoing Projects
26.13. Market Size and Forecast
- 26.13.1. Market Revenue, by Type (2019-2032)
- 26.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 26.13.3. Market Revenue, by Monitoring System (2019-2032)
- 26.13.4. Market Revenue, by Deployment Type (2019-2032)
- 26.13.5. Market Revenue, by End User (2019-2032)

Chapter 27. South Africa Market

27.1. Overview
27.2. Economic Indicators
27.3. Demographics and Population Insights
27.4. Regional Hotspots
27.5. Growth Drivers
27.6. Challenges and Barriers
27.7. Competitive Strategies
27.8. Emerging Players
27.9. Import/Export Policies
27.10. Compliance Requirements
27.11. Emerging Investment Areas
27.12. Major Ongoing Projects
27.13. Market Size and Forecast
- 27.13.1. Market Revenue, by Type (2019-2032)
- 27.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 27.13.3. Market Revenue, by Monitoring System (2019-2032)
- 27.13.4. Market Revenue, by Deployment Type (2019-2032)
- 27.13.5. Market Revenue, by End User (2019-2032)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Economic Indicators
28.3. Demographics and Population Insights
28.4. Regional Hotspots
28.5. Growth Drivers
28.6. Challenges and Barriers
28.7. Competitive Strategies
28.8. Emerging Players
28.9. Import/Export Policies
28.10. Compliance Requirements
28.11. Emerging Investment Areas
28.12. Major Ongoing Projects
28.13. Market Size and Forecast
- 28.13.1. Market Revenue, by Type (2019-2032)
- 28.13.2. Market Revenue, by Moniotoring Type (2019-2032)
- 28.13.3. Market Revenue, by Monitoring System (2019-2032)
- 28.13.4. Market Revenue, by Deployment Type (2019-2032)
- 28.13.5. Market Revenue, by End User (2019-2032)

Chapter 29. Company Profiles

Chapter 30. Appendix

30.1. Sources and References
30.2. Related Reports

Machine Condition Monitoring Equipment Market Size & Opportunities Analysis - Growth Strategies, Competitiveness, and Forecasts (2025 - 2032)