The U.S. Machine Condition Monitoring Market is expected to grow with the CAGR of 8.2% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.
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The U.S. 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 the U.S. 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 flexibility, reliability and scalability. This new motion control portfolio 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, packaging, printing, general manufacturing, semiconductors and others. This new motion control portfolio will enhance the product portfolio of the company.
Emersion Electric Co. is the dominating player in the U.S. machine condition monitoring market. The other key players existing in the machine condition monitoring market includes Rockwell Automation, Inc., Senseye Ltd, NATIONAL INSTRUMENTS CORP., Honeywell (a subsidiary of Honeywell International Inc.), SKF Group, ALS Limited, Meggitt PLC, PARKER HANNIFIN CORP, Fluke Corporation (a subsidiary of Fortive), SPM Instrument AB, Machine Saver, LogiLube, LLC, SYMPHONI AZIMAAI among others.
Emersion Electric Co.:
Emersion Electric Co. is headquartered in Missouri, U.S and was founded in year 1890. The company is engaged in providing automated, commercial and residential solutions to various industries. The company deals in multiple business segments such as automation solutions, climate technologies and tools & home products among which automation solutions is the market focused segment. The company has various products under categories such as automation solutions and commercial and residential solutions out of which automation solutions is the market focused category.
For instance,
- 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 the company to increase their products and solutions to serve more customers and increase business.
The company has wide global presence across Europe, Asia, North America, Latin America and Middle East and 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) among others.
SKF Group:
SKF Group is headquartered in Gothenburg, Sweden. The company deals in providing design and manufacturing of bearings, seals and lubrication systems. The company deals in multiple business segments such as industrial and automotive from which industrial is the market focused segment. The company has various products under categories such as 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 the market focused category.
For instance,
- 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, Americas and Middle East and 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.
Honeywell (a subsidiary of Honeywell International Inc.):
Honeywell (a subsidiary of Honeywell International Inc.) is headquartered in Texas, U.S. The company offers advanced technology and service for the various industries such as biofuels, life sciences, pulp and paper and industrial power generation among others. The company has various products under categories such as 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 are the market focused categories.
For instance,
- In November 2020, Honeywell (a subsidiary of Honeywell International Inc.) has launched new enterprise software Measurement IQ (MIQ) optimized for helping gas distributors in transforming their metering operations. This software will monitor meters, gas chromatographs and other measurement assets. The new enterprise software is built to collect and analyse diagnostic information of devices from different sites to get real time overview of metering health. This new product will help the company to increase their product line and gain customer size.
The company has presence across the globe in Europe, North America, Asia-Pacific, South America and Middle East and Africa.
