The Europe Motor Monitoring Market would witness market growth of 7.1% CAGR during the forecast period (2021-2027).
Simple temperature measurements, and more complex techniques such as passive or active thermography, are a necessary part of temperature analysis. Cameras used in thermography collect heat radiated by assets. These photos can be analyzed to indicate areas of potential breakdown, for instance, worn parts. Excess heat, or any form of thermal imbalance, is often a sign of a problem, such as inadequate lubrication and misalignment.
In addition, Electrical characteristics can also be used in order to detect faults. Induction, pulse and frequency response, resistance, and capacitance are a few of the properties that can be examined in this manner. This method frequently focuses on detecting electrical system degradation patterns in order to do preventative maintenance before the motor breaks. On the other hand, electromagnetic monitoring examines circuits and their properties. Electromagnetic measurements identify distortions across the magnetic field and variations in current to identify problems. For example, a field or current is generated inside or on the surfaces of the apparatus. The results of the analysis would highlight where faults are generating problems in the specific field.
The automotive industry of this region is one of the most flourishing industries. There are various manufacturers of vehicles across this region. In addition, the prevalence of major market players of the worldwide automotive industry is operating in this region. Moreover, according to the International Trade Administration, in 2019, the production of vehicles across Italy reached more than 914,000 vehicles, while 1,381,496 were manufactured in 2020. Additionally, Fiat Chrysler Automobiles, Peugeot SA, and Volkswagen Group are the key market players that are currently operating in this region.
Further, these companies are gaining traction of customers worldwide, owing to the fact that they manufacture a wide variety of vehicles. The increasing production of vehicles is majorly showcasing the requirement for efficient caretaking of their capital. Therefore, there is a surge in the demand for efficient and optimized motor monitoring solutions across this region, hence, the growth of the regional market is expediting
The Germany market dominated the Europe Motor Monitoring Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $220.5 million by 2027. The UK market is anticipated to grow at a CAGR of 6.3% during (2021 - 2027). Additionally, The France market would showcase a CAGR of 7.9% during (2021 - 2027).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on End User, the market is segmented into Oil & Gas, Aerospace & Defense, Power Generation, Water & wastewater Treatment, Chemical, Food & Beverages, Metals & Mining, and Others. Based on Monitoring Process, the market is segmented into Online and Offline/Portable. Based on Deployment, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Motor Monitoring Market Size will Hit $3.1 Billion by 2027, at a CAGR of 7.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Honeywell International, Inc., Schneider Electric SE, Emerson Electric Co., Mitsubishi Electric Corporation, Siemens AG, Rockwell Automation, Inc., General Electric (GE) Co., National Instruments Corporation, and Banner Engineering Corporation.
By Offering
By End User
By Monitoring Process
By Deployment
By Country
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