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Motor Monitoring Market Report by Offering (Hardware, Software), Monitoring Process (Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis, and Others), End Use (Oil and Gas, Energy and Power, Aerospace and Defense, Automotive, and Others), and Region 2024-2032
Market Report I 2024-08-10 I 140 Pages I IMARC Group
The global motor monitoring market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032.
Motor monitoring represents one of the predictive maintenance aspects involving thorough inspection using modern, state-of-the-art equipment. It focuses on tracking the performance of motors and minimizing downtime needed for repairs. It analyzes testing starting loads, ambient temperature, ease of testing, availability of spares, and the number of starts and stops. It assists in locating potential problems, avoiding critical unplanned downtime, ensuring efficiency, and improving plant operations. Consequently, it finds extensive applications in the automotive, aerospace, and oil and gas industries worldwide. Nowadays, several companies are offering motor monitoring services through online platforms, which provide details about power quality and operating conditions.
Motor Monitoring Market Trends:
Electric motors are durable and efficient, require low maintenance, consume less energy, and have high endurance for fluctuating voltages. This, along with their diverse applications in domestic appliances, machine tools, and industrial fans, represents one of the major factors bolstering the market growth. Moreover, governing agencies of numerous countries are formulating stringent policies to promote the adoption of energy-efficient products and reduce carbon emissions from various industrial verticals. This is positively influencing the demand for motors as they are environment-friendly and affordable than a fossil-fuel engine. The increasing importance of detecting potential issues in machines before their breakdown is also stimulating the market growth. Apart from this, the leading market players are introducing advanced test equipment that collects data through three voltage probes and corresponding current transformers. The data can be recorded, calculated, and interpreted for uninterrupted comparison, reporting, and trending. These innovations are creating a positive outlook for the market. Furthermore, factors like increasing utilization of motor monitoring in sports and thermal imaging are projected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global motor monitoring market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on offering, monitoring process and end use.
Breakup by Offering:
- Hardware
- Software
Breakup by Monitoring Process:
- Oil Analysis
- Motor Current Analysis
- Ultrasound
- Thermography
- Vibration Analysis
- Others
Breakup by End Use:
- Oil and Gas
- Energy and Power
- Aerospace and Defense
- Automotive
- Others
Breakup by Region:
- North America
o United States
o Canada
- Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
- Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
- Latin America
o Brazil
o Mexico
o Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AB SKF, ABB Ltd, ALS Limited, Eaton Corporation plc, Emerson Electric Co., General Electric, Honeywell International Inc, National Instruments Corp., Parker-Hannifin Corp, Rockwell Automation Inc, Schneider Electric and Siemens AG.
Key Questions Answered in This Report
1. How big is the global motor monitoring market?
2. What is the expected growth rate of the global motor monitoring market during 2024-2032?
3. What are the key factors driving the global motor monitoring market?
4. What has been the impact of COVID-19 on the global motor monitoring market?
5. What is the breakup of the global motor monitoring market based on the offering?
6. What is the breakup of the global motor monitoring market based on the monitoring process?
7. What is the breakup of the global motor monitoring market based on the end use?
8. What are the key regions in the global motor monitoring market?
9. Who are the key players/companies in the global motor monitoring market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Motor Monitoring Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Offering
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Monitoring Process
7.1 Oil Analysis
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Motor Current Analysis
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Ultrasound
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Thermography
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Vibration Analysis
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by End Use
8.1 Oil and Gas
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Energy and Power
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Aerospace and Defense
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Automotive
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AB SKF
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 ABB Ltd
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 ALS Limited
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Eaton Corporation plc
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Emerson Electric Co.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 General Electric
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Honeywell International Inc
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 National Instruments Corp.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Parker-Hannifin Corp
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Rockwell Automation Inc
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Schneider Electric
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Siemens AG
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
Figure 1: Global: Motor Monitoring Market: Major Drivers and Challenges
Figure 2: Global: Motor Monitoring Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Motor Monitoring Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Motor Monitoring Market: Breakup by Offering (in %), 2023
Figure 5: Global: Motor Monitoring Market: Breakup by Monitoring Process (in %), 2023
Figure 6: Global: Motor Monitoring Market: Breakup by End Use (in %), 2023
Figure 7: Global: Motor Monitoring Market: Breakup by Region (in %), 2023
Figure 8: Global: Motor Monitoring (Hardware) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Motor Monitoring (Hardware) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Motor Monitoring (Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Motor Monitoring (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Motor Monitoring (Oil Analysis) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Motor Monitoring (Oil Analysis) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Motor Monitoring (Motor Current Analysis) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Motor Monitoring (Motor Current Analysis) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Motor Monitoring (Ultrasound) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Motor Monitoring (Ultrasound) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Motor Monitoring (Thermography) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Motor Monitoring (Thermography) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Motor Monitoring (Vibration Analysis) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Motor Monitoring (Vibration Analysis) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Motor Monitoring (Other Monitoring Processes) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Motor Monitoring (Other Monitoring Processes) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Motor Monitoring (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Motor Monitoring (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Motor Monitoring (Energy and Power) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Motor Monitoring (Energy and Power) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Motor Monitoring (Aerospace and Defense) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Motor Monitoring (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Motor Monitoring (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Motor Monitoring (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Motor Monitoring (Other End Uses) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Motor Monitoring (Other End Uses) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: North America: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: North America: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: United States: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: United States: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Canada: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Canada: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Asia-Pacific: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Asia-Pacific: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: China: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: China: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Japan: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Japan: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: India: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: India: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: South Korea: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: South Korea: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Australia: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Australia: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Indonesia: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Indonesia: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Others: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Others: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Europe: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Europe: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Germany: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Germany: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: France: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: France: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: United Kingdom: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: United Kingdom: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Italy: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Italy: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Spain: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Spain: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Russia: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Russia: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Others: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Others: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Latin America: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Latin America: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Brazil: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Brazil: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Mexico: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Mexico: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Others: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Others: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Middle East and Africa: Motor Monitoring Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Middle East and Africa: Motor Monitoring Market: Breakup by Country (in %), 2023
Figure 82: Middle East and Africa: Motor Monitoring Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Global: Motor Monitoring Industry: SWOT Analysis
Figure 84: Global: Motor Monitoring Industry: Value Chain Analysis
Figure 85: Global: Motor Monitoring Industry: Porter's Five Forces Analysis
Table 1: Global: Motor Monitoring Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Motor Monitoring Market Forecast: Breakup by Offering (in Million US$), 2024-2032
Table 3: Global: Motor Monitoring Market Forecast: Breakup by Monitoring Process (in Million US$), 2024-2032
Table 4: Global: Motor Monitoring Market Forecast: Breakup by End Use (in Million US$), 2024-2032
Table 5: Global: Motor Monitoring Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Motor Monitoring Market: Competitive Structure
Table 7: Global: Motor Monitoring Market: Key Players
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