Machine Condition Monitoring Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Monitoring Technique, By Offering, By Deployment Type, By Monitoring Process, By End User, By Region, By Competition, 2020-2030F

Description

The Global Machine Condition Monitoring Market, valued at USD 4.14 Billion in 2024, is projected to experience a CAGR of 8.89% to reach USD 6.90 Billion by 2030. Machine Condition Monitoring (MCM) involves the systematic evaluation of equipment parameters such as vibration, temperature, and oil characteristics to detect nascent faults and performance deviations. This enables the implementation of proactive maintenance strategies. The market's expansion is primarily driven by the escalating global demand for enhanced operational efficiency, a critical need to minimize unplanned downtime, and the imperative to extend asset lifespans through predictive insights.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 4.14 Billion
Market Size 2030	USD 6.90 Billion
CAGR 2025-2030	8.89%
Fastest Growing Segment	Oil and Gas
Largest Market	North America

Key Market Drivers

The market for global machine condition monitoring is significantly influenced by the increased adoption of predictive maintenance strategies. Organizations are moving away from time-based or reactive maintenance approaches to minimize unforeseen failures and optimize operational expenditures. This shift is predicated on the ability of condition monitoring systems to provide real-time data and insights into equipment health, enabling timely intervention before catastrophic breakdowns occur.

Key Market Challenges

The substantial initial investment required for deploying and integrating advanced Machine Condition Monitoring (MCM) systems presents a direct hindrance to market expansion. This capital outlay encompasses not only the acquisition and installation of sophisticated sensor technology and software but also the necessary modifications to existing industrial infrastructure. Such significant upfront costs deter many businesses, particularly small and medium-sized enterprises, which often operate with tighter budgets and a more cautious approach to large-scale technological upgrades.

Key Market Trends

Wireless and cloud-based monitoring solutions are transforming how industries approach asset management by offering enhanced flexibility and accessibility. These systems eliminate the need for extensive cabling, simplifying installation and enabling deployment in remote or hazardous environments. The cloud infrastructure facilitates scalable data storage, advanced analytics processing, and real-time access to equipment health data from any location. This shift allows for more agile maintenance strategies and reduces the upfront costs associated with traditional wired systems.

Key Market Players

Siemens AG
Honeywell International Inc.
Schneider Electric SE
Rockwell Automation Inc.
Emerson Electric Co.
General Electric Company
ABB Ltd.
Yokogawa Electric Corporation
Hitachi Ltd.
Parker Hannifin Corporation

Report Scope:

In this report, the Global Machine Condition Monitoring Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Machine Condition Monitoring Market, By Monitoring Technique:

Vibration Monitoring
Thermography
Oil Analysis
Corrosion Monitoring
Ultrasound Emission
Motor Current Analysis

Machine Condition Monitoring Market, By Offering:

Hardware
Software

Machine Condition Monitoring Market, By Deployment Type:

On-premises
Cloud

Machine Condition Monitoring Market, By Monitoring Process:

Online Condition Monitoring
Portable Condition Monitoring

Machine Condition Monitoring Market, By End User:

Oil and Gas
Power Generation
Metals and Mining
Chemicals
Automotive
Aerospace and Defense
Food and Beverages
Marine
Others

Machine Condition Monitoring Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Machine Condition Monitoring Market.

Available Customizations:

Global Machine Condition Monitoring Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Machine Condition Monitoring Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Monitoring Technique (Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission, Motor Current Analysis)
- 5.2.2. By Offering (Hardware, Software)
- 5.2.3. By Deployment Type (On-premises, Cloud)
- 5.2.4. By Monitoring Process (Online Condition Monitoring, Portable Condition Monitoring)
- 5.2.5. By End User (Oil and Gas, Power Generation, Metals and Mining, Chemicals, Automotive, Aerospace and Defense, Food and Beverages, Marine, Others)
- 5.2.6. By Region
- 5.2.7. By Company (2024)
5.3. Market Map

6. North America Machine Condition Monitoring Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Monitoring Technique
- 6.2.2. By Offering
- 6.2.3. By Deployment Type
- 6.2.4. By Monitoring Process
- 6.2.5. By End User
- 6.2.6. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Machine Condition Monitoring Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Monitoring Technique
    - 6.3.1.2.2. By Offering
    - 6.3.1.2.3. By Deployment Type
    - 6.3.1.2.4. By Monitoring Process
    - 6.3.1.2.5. By End User
- 6.3.2. Canada Machine Condition Monitoring Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Monitoring Technique
    - 6.3.2.2.2. By Offering
    - 6.3.2.2.3. By Deployment Type
    - 6.3.2.2.4. By Monitoring Process
    - 6.3.2.2.5. By End User
- 6.3.3. Mexico Machine Condition Monitoring Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Monitoring Technique
    - 6.3.3.2.2. By Offering
    - 6.3.3.2.3. By Deployment Type
    - 6.3.3.2.4. By Monitoring Process
    - 6.3.3.2.5. By End User

7. Europe Machine Condition Monitoring Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Monitoring Technique
- 7.2.2. By Offering
- 7.2.3. By Deployment Type
- 7.2.4. By Monitoring Process
- 7.2.5. By End User
- 7.2.6. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Machine Condition Monitoring Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Monitoring Technique
    - 7.3.1.2.2. By Offering
    - 7.3.1.2.3. By Deployment Type
    - 7.3.1.2.4. By Monitoring Process
    - 7.3.1.2.5. By End User
- 7.3.2. France Machine Condition Monitoring Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Monitoring Technique
    - 7.3.2.2.2. By Offering
    - 7.3.2.2.3. By Deployment Type
    - 7.3.2.2.4. By Monitoring Process
    - 7.3.2.2.5. By End User
- 7.3.3. United Kingdom Machine Condition Monitoring Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Monitoring Technique
    - 7.3.3.2.2. By Offering
    - 7.3.3.2.3. By Deployment Type
    - 7.3.3.2.4. By Monitoring Process
    - 7.3.3.2.5. By End User
- 7.3.4. Italy Machine Condition Monitoring Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Monitoring Technique
    - 7.3.4.2.2. By Offering
    - 7.3.4.2.3. By Deployment Type
    - 7.3.4.2.4. By Monitoring Process
    - 7.3.4.2.5. By End User
- 7.3.5. Spain Machine Condition Monitoring Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Monitoring Technique
    - 7.3.5.2.2. By Offering
    - 7.3.5.2.3. By Deployment Type
    - 7.3.5.2.4. By Monitoring Process
    - 7.3.5.2.5. By End User

8. Asia Pacific Machine Condition Monitoring Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Monitoring Technique
- 8.2.2. By Offering
- 8.2.3. By Deployment Type
- 8.2.4. By Monitoring Process
- 8.2.5. By End User
- 8.2.6. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Machine Condition Monitoring Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Monitoring Technique
    - 8.3.1.2.2. By Offering
    - 8.3.1.2.3. By Deployment Type
    - 8.3.1.2.4. By Monitoring Process
    - 8.3.1.2.5. By End User
- 8.3.2. India Machine Condition Monitoring Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Monitoring Technique
    - 8.3.2.2.2. By Offering
    - 8.3.2.2.3. By Deployment Type
    - 8.3.2.2.4. By Monitoring Process
    - 8.3.2.2.5. By End User
- 8.3.3. Japan Machine Condition Monitoring Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Monitoring Technique
    - 8.3.3.2.2. By Offering
    - 8.3.3.2.3. By Deployment Type
    - 8.3.3.2.4. By Monitoring Process
    - 8.3.3.2.5. By End User
- 8.3.4. South Korea Machine Condition Monitoring Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Monitoring Technique
    - 8.3.4.2.2. By Offering
    - 8.3.4.2.3. By Deployment Type
    - 8.3.4.2.4. By Monitoring Process
    - 8.3.4.2.5. By End User
- 8.3.5. Australia Machine Condition Monitoring Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Monitoring Technique
    - 8.3.5.2.2. By Offering
    - 8.3.5.2.3. By Deployment Type
    - 8.3.5.2.4. By Monitoring Process
    - 8.3.5.2.5. By End User

9. Middle East & Africa Machine Condition Monitoring Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Monitoring Technique
- 9.2.2. By Offering
- 9.2.3. By Deployment Type
- 9.2.4. By Monitoring Process
- 9.2.5. By End User
- 9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Machine Condition Monitoring Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Monitoring Technique
    - 9.3.1.2.2. By Offering
    - 9.3.1.2.3. By Deployment Type
    - 9.3.1.2.4. By Monitoring Process
    - 9.3.1.2.5. By End User
- 9.3.2. UAE Machine Condition Monitoring Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Monitoring Technique
    - 9.3.2.2.2. By Offering
    - 9.3.2.2.3. By Deployment Type
    - 9.3.2.2.4. By Monitoring Process
    - 9.3.2.2.5. By End User
- 9.3.3. South Africa Machine Condition Monitoring Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Monitoring Technique
    - 9.3.3.2.2. By Offering
    - 9.3.3.2.3. By Deployment Type
    - 9.3.3.2.4. By Monitoring Process
    - 9.3.3.2.5. By End User

10. South America Machine Condition Monitoring Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Monitoring Technique
- 10.2.2. By Offering
- 10.2.3. By Deployment Type
- 10.2.4. By Monitoring Process
- 10.2.5. By End User
- 10.2.6. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Machine Condition Monitoring Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Monitoring Technique
    - 10.3.1.2.2. By Offering
    - 10.3.1.2.3. By Deployment Type
    - 10.3.1.2.4. By Monitoring Process
    - 10.3.1.2.5. By End User
- 10.3.2. Colombia Machine Condition Monitoring Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Monitoring Technique
    - 10.3.2.2.2. By Offering
    - 10.3.2.2.3. By Deployment Type
    - 10.3.2.2.4. By Monitoring Process
    - 10.3.2.2.5. By End User
- 10.3.3. Argentina Machine Condition Monitoring Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Monitoring Technique
    - 10.3.3.2.2. By Offering
    - 10.3.3.2.3. By Deployment Type
    - 10.3.3.2.4. By Monitoring Process
    - 10.3.3.2.5. By End User

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Machine Condition Monitoring Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Siemens AG
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Honeywell International Inc.
15.3. Schneider Electric SE
15.4. Rockwell Automation Inc.
15.5. Emerson Electric Co.
15.6. General Electric Company
15.7. ABB Ltd.
15.8. Yokogawa Electric Corporation
15.9. Hitachi Ltd.
15.10. Parker Hannifin Corporation