Europe Machine Condition Monitoring Market is expected to grow with the CAGR of 7.6% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.
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Europe machine condition monitoring market is a highly consolidated market, which includes number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in Europe machine condition monitoring market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in October 2020, Emerson Electric Co. has launched new PACMotion servo motion control portfolio which will deliver an integrated automation solution for high-performance industrial applications. The portfolio includes motion controller, servo drives, servo motors and motors configuration software for several applications such as material handling. This new motion control portfolio will enhance the product portfolio of the company.
SKF Group is the dominating player in Europe machine condition monitoring market. The other key players existing in the market includes Emersion Electric Co., Rockwell Automation, Inc., Honeywell, SPM Instrument AB, NATIONAL INSTRUMENTS CORP, Fluke Corporation, Meggitt PLC, and PARKER HANNIFIN CORP, among others.
SKF Group
SKF Group is headquartered in Gothenburg, Sweden. The company specializes in providing advanced technology, products and services for aerospace, agriculture, construction, paper & pulp, oil & gas, automotive, metals marine and other industries. The company operates in industrial and automotive segments out of which industrial are market focused segment. The company offers product categories which are rolling bearings, mounted bearings and housing, super-precision bearings, slewing bearings, plain bearings, magnetic bearings and systems, industrial seals, automotive seals, lubrication management, maintenance products, condition monitoring systems, power transmission solutions, test and measuring equipment and vehicle aftermarket out of which condition monitoring systems is market focused category.
- In September 2020, SKF Group is partnering with Deacero for improving their performance and reducing downtime at their steel manufacturing plant in Celeya. This partnership will help the company to grow their business.
The company has wide global presence across Europe, Asia-Pacific, North America, South America, and Middle East & Africa and generates revenue from subsidiaries such as Kaydon Corporation (U.S.), Lincoln Industrial Corporation (U.S.), SKF France SAS (France), SKF USA Inc. (U.S.), SKF Economos GmbH (Germany), among others.
Emersion Electric Co.
Emersion Electric Co. is headquartered in Missouri, U.S and was founded in year 1890. The company provides products and services for various industry verticals such as automotive, chemical, marine, paper & pulp, power generation, oil & gas, mining and others. The company operates in automation solutions, climate technologies and tools & home products out of which automation solutions is market focused segment. The company offers wide range of product categories such as measurement instrumentation, valves, actuators & regulators, fluid control & pneumatics, control & safety systems, asset management. Operations & business management, electrical components & lighting, welding, assembly & cleaning, services, consulting & training out of which measurement instrumentation and asset management is market focused category.
- In October 2020, Emersion Electric Co. has announced the acquisition of Open Systems International, Inc. which is leading software provider of operation technology to power industry. This acquisition will help company to increase their products and solutions to serve more customers and increase business.
The company has wide global presence across Europe, Asia-Pacific, North America, Latin America, and Middle East & Africa and generates revenue from subsidiaries such as Appleton Holding Sarl (Brazil), EGS Private Ltd. (Mexico), Chemat GmbH Armaturen fur Indstrie-und Nukkeranlag (Germany), Pentair Valves & Controls France S.C.A. (France), Emerson Automation Solutions Final Control (Beijing) Co., Ltd. (China), ASCO Japan Co., Ltd. (Japan).
Honeywell
Honeywell is headquartered in Texas, U.S. The company provides solutions for the industrial automation and control for various industries such as chemical, industrial and manufacturing, aerospace and safety industries among others. The company provides advanced software, control, monitoring and safety systems, gas measurement & regulation, honeywell forge cybersecurity, ICS shield, instrumentation, marine, secure media exchange (SMX), telecom & industrial security, terminal operations and wireless out of which advanced software and instrumentation is market focused product category.
- In February 2020, Honeywell and Tech Mahindra have announced the expansion of their collaboration to build digitized factories. The main objective of this partnership is to build the factories of future by digitizing it with world-class operations and performance management. It will enable manufacturing customers to expedite growth and realising values of industry 4.0. This collaboration will help company to attract more manufacturing customers with their innovative offerings and services and increase business.
The company has presence across the globe in Europe, North America, Asia, Latin America and Middle East & Africa.
