The Latin America, Middle East and Africa Machine Condition Monitoring Market would witness market growth of 10.3% CAGR during the forecast period (2022-2028).
A highly competitive environment, however, makes it impossible for automakers to make such mistakes. Therefore, manufacturers heavily rely on efficient methods to meet customer demands. The adoption of machine condition monitoring systems has increased because of this. Air-handling systems, pumps, and other similar applications are among the most common applications for condition monitoring in this industry. Several critical conditions are monitored in the automotive sector, including motor and transmission component endurance testing, wind tunnel testing, electrical brake testing for reliability testing, automotive test benches (artificial roads), and others.
Performance testing, a major component of predictive maintenance, is used in the automotive manufacturing industry and assumes that machinery will deteriorate over time and eventually fail. By being proactive, condition monitoring offers the necessary information to arrange maintenance and checks the functioning of equipment through technology, avoiding difficulties that could result in unexpected downtime.
The United Arab Emirates (UAE) is thought to have the seventh-largest proven oil and gas reserves. The UAE produces 3 million barrels of petroleum and liquids per day on average and has 100 billion barrels of oil reserves. Approximately 30% of the country's GDP is directly based on oil and gas production, which accounts for nearly 13% of the country's total exports. The vast majority of the UAE government's funding comes from oil profits and royalties.
The United Arab Emirates wants to expand its unconventional oil and gas production. The UAE stated in 2020 that it had discovered over 80 trillion cubic feet of gas reserves at Jebel Ali. The government aims to be gas self-sufficient by 2030, however it now imports natural gas from Qatar via the Dolphin pipeline. The Hydrogen Alliance was launched in 2021 by Mubadala Investment Company, Abu Dhabi National Oil Company (ADNOC), and ADQ to promote the production of blue and green hydrogen for export.
The Ministry of Energy and Infrastructure (MoEI) and three of Abu Dhabi's biggest government companies, Mubadala Investment Company, Abu Dhabi National Oil Company (ADNOC), and ADQ, allied to form Hydrogen in early 2021. Hydrogen would use natural gas and renewable energy to produce blue and green hydrogen for export and to the UAE. The utilization of the machine condition monitoring for the oil and gas industry analysis accelerate the growth of the market in this region.
The Brazil market dominated the LAMEA Machine Condition Monitoring Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $77.3 million by 2028. The Argentina market is estimated to grow at a CAGR of 10.9% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 10% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware and Software. Based on Monitoring Technique, the market is segmented into Vibration Monitoring, Thermography, Oil Analysis, Corrosion Monitoring, Ultrasound Emission Monitoring, and Others. Based on Industry, the market is segmented into Power Generation, Metals & Mining, Aerospace & Marine, Automotive, Oil & Gas, Food & Beverages, Chemicals, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Monitoring Process, the market is segmented into Online Condition Monitoring and Portable Condition Monitoring. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Machine Condition Monitoring Market is Predict to reach $4.2 Billion by 2028, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ALS Limited, Fortive Corporation (Fluke Corporation), Schaeffler AG, Honeywell International, Inc., Emerson Electric Co., Rockwell Automation, Inc., General Electric (GE) Co., Analog Devices, Inc., National Instruments Corporation, and Parker Hannifin Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Offering
By Monitoring Technique
- Vibration Monitoring
- Thermography
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission Monitoring
- Others
By Industry
- Power Generation
- Metals & Mining
- Aerospace & Marine
- Automotive
- Oil & Gas
- Food & Beverages
- Chemicals
- Others
By Deployment Type
By Monitoring Process
- Online Condition Monitoring
- Portable Condition Monitoring
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ALS Limited
- Fortive Corporation (Fluke Corporation)
- Schaeffler AG
- Honeywell International, Inc.
- Emerson Electric Co.
- Rockwell Automation, Inc.
- General Electric (GE) Co.
- Analog Devices, Inc.
- National Instruments Corporation
- Parker Hannifin Corporation
TABLE 1 LAMEA Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 4 LAMEA Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 5 LAMEA Hardware Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA Hardware Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Software Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Software Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 10 LAMEA Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 11 LAMEA Vibration Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Vibration Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Thermography Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Thermography Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Oil Analysis Market by Country, 2018 - 2021, USD Million
TABLE 16 LAMEA Oil Analysis Market by Country, 2022 - 2028, USD Million
TABLE 17 LAMEA Corrosion Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 18 LAMEA Corrosion Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 19 LAMEA Ultrasound Emission Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 20 LAMEA Ultrasound Emission Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 21 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 22 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 23 LAMEA Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 24 LAMEA Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 25 LAMEA Power Generation Market by Country, 2018 - 2021, USD Million
TABLE 26 LAMEA Power Generation Market by Country, 2022 - 2028, USD Million
TABLE 27 LAMEA Metals & Mining Market by Country, 2018 - 2021, USD Million
TABLE 28 LAMEA Metals & Mining Market by Country, 2022 - 2028, USD Million
TABLE 29 LAMEA Aerospace & Marine Market by Country, 2018 - 2021, USD Million
TABLE 30 LAMEA Aerospace & Marine Market by Country, 2022 - 2028, USD Million
TABLE 31 LAMEA Automotive Market by Country, 2018 - 2021, USD Million
TABLE 32 LAMEA Automotive Market by Country, 2022 - 2028, USD Million
TABLE 33 LAMEA Oil & Gas Market by Country, 2018 - 2021, USD Million
TABLE 34 LAMEA Oil & Gas Market by Country, 2022 - 2028, USD Million
TABLE 35 LAMEA Food & Beverages Market by Country, 2018 - 2021, USD Million
TABLE 36 LAMEA Food & Beverages Market by Country, 2022 - 2028, USD Million
TABLE 37 LAMEA Chemicals Market by Country, 2018 - 2021, USD Million
TABLE 38 LAMEA Chemicals Market by Country, 2022 - 2028, USD Million
TABLE 39 LAMEA Other Industry Market by Country, 2018 - 2021, USD Million
TABLE 40 LAMEA Other Industry Market by Country, 2022 - 2028, USD Million
TABLE 41 LAMEA Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 42 LAMEA Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 43 LAMEA On-premise Market by Country, 2018 - 2021, USD Million
TABLE 44 LAMEA On-premise Market by Country, 2022 - 2028, USD Million
TABLE 45 LAMEA Cloud Market by Country, 2018 - 2021, USD Million
TABLE 46 LAMEA Cloud Market by Country, 2022 - 2028, USD Million
TABLE 47 LAMEA Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 48 LAMEA Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 49 LAMEA Online Condition Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 50 LAMEA Online Condition Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 51 LAMEA Portable Condition Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 52 LAMEA Portable Condition Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 53 LAMEA Machine Condition Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 54 LAMEA Machine Condition Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 55 Brazil Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 56 Brazil Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 57 Brazil Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 58 Brazil Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 59 Brazil Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 60 Brazil Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 61 Brazil Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 62 Brazil Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 63 Brazil Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 64 Brazil Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 65 Brazil Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 66 Brazil Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 67 Argentina Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 68 Argentina Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 69 Argentina Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 70 Argentina Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 71 Argentina Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 72 Argentina Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 73 Argentina Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 74 Argentina Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 75 Argentina Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 76 Argentina Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 77 Argentina Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 78 Argentina Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 79 UAE Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 80 UAE Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 81 UAE Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 82 UAE Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 83 UAE Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 84 UAE Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 85 UAE Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 86 UAE Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 87 UAE Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 88 UAE Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 89 UAE Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 90 UAE Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 91 Saudi Arabia Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 92 Saudi Arabia Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 93 Saudi Arabia Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 94 Saudi Arabia Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 95 Saudi Arabia Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 96 Saudi Arabia Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 97 Saudi Arabia Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 98 Saudi Arabia Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 99 Saudi Arabia Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 100 Saudi Arabia Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 101 Saudi Arabia Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 102 Saudi Arabia Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 103 South Africa Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 104 South Africa Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 105 South Africa Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 106 South Africa Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 107 South Africa Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 108 South Africa Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 109 South Africa Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 110 South Africa Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 111 South Africa Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 112 South Africa Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 113 South Africa Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 114 South Africa Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 115 Nigeria Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 116 Nigeria Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 117 Nigeria Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 118 Nigeria Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 119 Nigeria Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 120 Nigeria Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 121 Nigeria Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 122 Nigeria Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 123 Nigeria Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 124 Nigeria Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 125 Nigeria Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 126 Nigeria Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 127 Rest of LAMEA Machine Condition Monitoring Market, 2018 - 2021, USD Million
TABLE 128 Rest of LAMEA Machine Condition Monitoring Market, 2022 - 2028, USD Million
TABLE 129 Rest of LAMEA Machine Condition Monitoring Market by Offering, 2018 - 2021, USD Million
TABLE 130 Rest of LAMEA Machine Condition Monitoring Market by Offering, 2022 - 2028, USD Million
TABLE 131 Rest of LAMEA Machine Condition Monitoring Market by Monitoring Technique, 2018 - 2021, USD Million
TABLE 132 Rest of LAMEA Machine Condition Monitoring Market by Monitoring Technique, 2022 - 2028, USD Million
TABLE 133 Rest of LAMEA Machine Condition Monitoring Market by Industry, 2018 - 2021, USD Million
TABLE 134 Rest of LAMEA Machine Condition Monitoring Market by Industry, 2022 - 2028, USD Million
TABLE 135 Rest of LAMEA Machine Condition Monitoring Market by Deployment Type, 2018 - 2021, USD Million
TABLE 136 Rest of LAMEA Machine Condition Monitoring Market by Deployment Type, 2022 - 2028, USD Million
TABLE 137 Rest of LAMEA Machine Condition Monitoring Market by Monitoring Process, 2018 - 2021, USD Million
TABLE 138 Rest of LAMEA Machine Condition Monitoring Market by Monitoring Process, 2022 - 2028, USD Million
TABLE 139 Key Information – ALS Limited
TABLE 140 Key Information –fortive corporation
TABLE 141 Key Information – Schaeffler AG
TABLE 142 Key Information – Honeywell International, Inc.
TABLE 143 Key Information – Emerson Electric Co.
TABLE 144 Key information – Rockwell Automation, Inc.
TABLE 145 KEY INFORMATION – GENERAL ELECTRIC (GE) CO.
TABLE 146 key information – Analog Devices, Inc.
TABLE 147 Key Information – National Instruments Corporation
TABLE 148 Key Information – PARKER-HANNIFIN CORPORATION
List of Figures
FIG 1 Methodology for the research