Condition Monitoring Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Condition Monitoring Equipment Market is segmented by Type (Hardware (Vibration Monitoring Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa)), Thermography Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa)), Lubricating Oil Analysis Equipment (End-user Vertical (Oil and Gas, Power Generation, Process and Manufacturing, Aerospace and Defense, Automotive and Transportation), Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of the Asia Pacific), Rest of the World (Latin America, Middle East and Africa))), Software, Services). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.

Condition Monitoring Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Condition Monitoring Equipment Market Size

Condition Monitoring Equipment Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 6.66 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Condition Monitoring Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Condition Monitoring Equipment Market with other markets in Technology, Media and Telecom Industry

Automation

Digital Commerce

Electronics

Information Technology

Media and Entertainment

Security & Surveillance

Condition Monitoring Equipment Market Analysis

The Condition Monitoring Equipment Market is expected to register a CAGR of 6.66% during the forecast period.

The condition monitoring equipment industry is experiencing a significant transformation driven by the rapid digitalization of industrial processes and the increasing adoption of Internet of Things (IoT) technologies. According to Cisco, by the end of 2022, machine-to-machine (M2M) connections supporting IoT applications accounted for more than half of the world's 28.5 billion connected devices. This digital revolution has fundamentally changed how industries approach equipment maintenance and monitoring, with a growing emphasis on predictive maintenance and real-time monitoring capabilities. The integration of advanced analytics and artificial intelligence has enabled more sophisticated fault detection and prediction capabilities, allowing industries to optimize their maintenance schedules and reduce operational costs.


The industry is witnessing a notable shift towards data-driven decision-making and automated monitoring systems. According to Maryville University calculations, by 2025, over 180 trillion gigabytes of data will be created worldwide yearly, with IIoT-enabled industries generating a significant portion of this data. This massive increase in data generation has led to the development of more sophisticated condition monitoring systems that can process and analyze large volumes of information in real-time. Companies are increasingly investing in advanced monitoring systems that can provide actionable insights and predictive maintenance recommendations based on complex data analysis.


Strategic partnerships and acquisitions are reshaping the competitive landscape of the condition monitoring market. In March 2023, Schaeffler announced the acquisition of Eco-Adapt SAS, a French condition-monitoring company, to enhance its position in digital predictive maintenance and expand its industrial offering. Similarly, in February 2023, SpotSee launched the SpotBot 4G Plus, a new condition-monitoring monitor designed for use in health sciences, automotive, electronics, power generation, and aerospace industries. These strategic moves indicate a growing trend towards consolidation and technological advancement in the industry.


The evolution of condition monitoring equipment is closely tied to the broader industrial automation trend, with a particular focus on enhancing operational efficiency and reducing human intervention in maintenance processes. According to Zebra's Manufacturing Vision Study, smart asset tracking solutions based on IoT and RFID are expected to overtake traditional, spreadsheet-based methods. This transition is driving the development of more sophisticated monitoring tools that can integrate with existing industrial automation systems and provide comprehensive asset management capabilities. The industry is also seeing increased demand for wireless and remote monitoring solutions, enabling organizations to monitor equipment health and performance from anywhere in the world.

Segment Analysis: By Type

Hardware Segment in Condition Monitoring Equipment Market

The condition monitoring hardware segment dominates the condition monitoring equipment market, commanding approximately 52% market share in 2024. This significant market position is driven by the increasing adoption of vibration monitoring equipment, thermography equipment, and lubricating oil analysis equipment across various industries. The hardware segment's prominence is particularly evident in critical industries such as oil and gas, power generation, and manufacturing, where continuous monitoring of equipment health is essential for preventing unexpected downtime and ensuring operational efficiency. The segment's growth is further bolstered by the rising demand for smart factories and the increasing focus on renewable energy applications, where hardware components play a crucial role in monitoring and maintaining equipment performance.

Market Analysis of Condition Monitoring Equipment Market: Chart for By Type

Services Segment in Condition Monitoring Equipment Market

The services segment is emerging as the fastest-growing segment in the condition monitoring equipment market, with a projected growth rate of approximately 10% during 2024-2029. This remarkable growth is primarily attributed to the increasing demand for remote monitoring services, predictive maintenance solutions, and expert analysis of equipment health data. The segment's expansion is driven by manufacturers' growing preference for outsourced condition monitoring expertise, particularly in complex industrial environments. The rise of cloud-based monitoring services, coupled with the integration of advanced analytics and artificial intelligence, is enabling more sophisticated and efficient service delivery models. Additionally, the growing trend toward subscription-based service models and the increasing need for specialized expertise in data interpretation and equipment diagnostics are contributing to the segment's rapid growth in the condition monitoring service market.

Remaining Segments in Condition Monitoring Equipment Market

The software segment plays a vital role in the condition monitoring equipment market by providing essential data analysis, visualization, and predictive maintenance capabilities. This segment encompasses various solutions including data acquisition software, analysis tools, and integrated monitoring platforms that enable real-time equipment health monitoring and decision-making. The software solutions are becoming increasingly sophisticated with the integration of artificial intelligence and machine learning capabilities, enabling more accurate prediction of equipment failures and maintenance needs. The segment's importance is further enhanced by the growing trend toward digitalization and the increasing need for comprehensive equipment health monitoring solutions that can integrate with existing industrial automation systems. Furthermore, the role of machine condition monitoring sensors market and condition monitoring instruments is pivotal in advancing these software capabilities.

Condition Monitoring Equipment Market Geography Segment Analysis

Condition Monitoring Equipment Market in North America

North America represents a mature market for condition monitoring equipment, driven by extensive industrial automation and the rapid adoption of Industry 4.0 technologies. The region's strong focus on predictive maintenance across various industries, particularly in the oil and gas, manufacturing, and aerospace sectors, continues to fuel market growth. The North American machine condition monitoring market is significantly influenced by the United States and Canada, which are making significant strides in implementing advanced monitoring solutions, with particular emphasis on vibration monitoring and thermography equipment. The presence of major market players and continuous technological innovations in both countries has created a robust ecosystem for condition monitoring solutions.

Market Analysis of Condition Monitoring Equipment Market: Forecasted Growth Rate by Region

Condition Monitoring Equipment Market in United States

The United States dominates the North American machine condition monitoring market, holding approximately 89% market share in 2024. The country's leadership position is strengthened by its extensive manufacturing base and continuous investments in industrial automation. The presence of major automotive manufacturers, aerospace companies, and oil & gas facilities drives the demand for sophisticated monitoring solutions. The country's focus on smart manufacturing initiatives and the integration of IIoT technologies in industrial processes has created a strong foundation for U.S. machine condition monitoring market adoption. The robust aerospace and defense sector, coupled with stringent safety regulations, further accelerates market growth in the United States.

Condition Monitoring Equipment Market in Canada

Canada emerges as the fastest-growing market in North America, with a projected growth rate of approximately 6% from 2024-2029. The country's growth is driven by its strong focus on industrial automation and the modernization of manufacturing facilities. Canada's expanding aerospace sector and significant investments in renewable energy infrastructure create substantial opportunities for Canadian machine condition monitoring market deployment. The country's emphasis on energy efficiency and sustainable manufacturing practices has led to increased adoption of advanced monitoring solutions. Canadian innovators are actively developing next-generation manufacturing capabilities, incorporating condition monitoring systems across various industries, from aerospace and defense to agriculture and pharmaceuticals.

Condition Monitoring Equipment Market in Europe

Europe represents a sophisticated market for condition monitoring equipment, characterized by high technological adoption rates and stringent industrial safety regulations. The region's strong manufacturing base, particularly in Germany, the United Kingdom, and France, drives the demand for advanced monitoring solutions. The European machine condition monitoring market by services is witnessing increased adoption of smart factory initiatives and Industry 4.0 technologies, creating a favorable environment for condition monitoring equipment deployment. The region's focus on renewable energy and sustainable manufacturing practices further accelerates market growth.

Condition Monitoring Equipment Market in Germany

Germany leads the European market with approximately 24% market share in 2024, driven by its robust industrial sector and leadership in Industry 4.0 initiatives. The country's strong automotive manufacturing base and emphasis on industrial automation create substantial demand for condition monitoring solutions. Germany's commitment to maintaining its position as a global manufacturing hub has led to significant investments in advanced monitoring technologies. The country's focus on energy efficiency and sustainable manufacturing practices further drives the adoption of condition monitoring equipment across various industrial sectors.

Condition Monitoring Equipment Market in United Kingdom

The United Kingdom demonstrates the highest growth potential in Europe, with a projected growth rate of approximately 8% from 2024-2029. The country's growth is driven by significant investments in smart manufacturing technologies and industrial automation. The UK's aerospace and defense industries, being essential to the country's economic growth, create substantial opportunities for condition monitoring equipment deployment. The government's initiatives to support manufacturing SMEs and boost productivity through advanced technologies further accelerate market growth. The UK's focus on digital transformation and Industry 4.0 adoption continues to drive innovation in condition monitoring solutions.

Condition Monitoring Equipment Market in Asia-Pacific

The Asia-Pacific machine condition monitoring market represents a dynamic market for condition monitoring equipment, driven by rapid industrialization and increasing adoption of smart manufacturing practices. Countries like China, Japan, and India are making significant investments in industrial automation and predictive maintenance technologies. The region's robust manufacturing sector, particularly in automotive, electronics, and heavy industries, creates substantial demand for condition monitoring solutions. The increasing focus on reducing operational costs and improving manufacturing efficiency drives the adoption of advanced monitoring technologies across the region.

Condition Monitoring Equipment Market in China

China dominates the Asia-Pacific machine condition monitoring market as the largest consumer of condition monitoring equipment. The country's leadership position is strengthened by its extensive manufacturing industry and ambitious 'Made in China 2025' initiative. China's focus on upgrading its industrial capabilities through smart manufacturing and Industry 4.0 technologies drives the demand for sophisticated monitoring solutions. The Chinese vibration monitoring market by services is further bolstered by the country's expanding aerospace sector and increasing defense budget for advanced machines, creating additional opportunities for condition monitoring equipment deployment. The steady expansion in civil airports and growing emphasis on predictive maintenance further accelerates market growth.

Condition Monitoring Equipment Market in India

India emerges as the fastest-growing market in the Asia-Pacific region. The country's growth is driven by its strong focus on manufacturing through initiatives like 'Make in India' and increasing adoption of Industry 4.0 technologies. India's expanding aviation sector and significant investments in automotive manufacturing create substantial opportunities for condition monitoring equipment deployment. The country's emphasis on smart manufacturing practices and the implementation of advanced monitoring solutions across various industries drives market growth. The government's focus on industrial automation and the modernization of manufacturing facilities further accelerates the adoption of condition monitoring equipment.

Condition Monitoring Equipment Market in Rest of the World

The Rest of the World region, encompassing Latin America and the Middle East & Africa, presents significant growth opportunities for condition monitoring equipment. In Latin America, Brazil leads the market with its extensive oil and gas operations and growing manufacturing sector, while also showing the fastest growth potential. The Middle East & Africa region demonstrates strong demand driven by its robust oil and gas industry and increasing investments in industrial automation. The UAE and Saudi Arabia's focus on diversifying their economies and modernizing their industrial sectors creates substantial opportunities for condition monitoring equipment deployment. The region's emphasis on improving operational efficiency and reducing maintenance costs drives the adoption of advanced monitoring solutions across various industries.

Condition Monitoring Equipment Industry Overview

Top Companies in Condition Monitoring Equipment Market

The condition monitoring equipment market features prominent players like Rockwell Automation, Emerson Electric, Meggitt PLC, General Electric, SKF, and Bruel & Kjaer Vibro leading the innovation landscape. These companies are actively pursuing product development initiatives focused on IoT integration, cloud-based monitoring solutions, and advanced analytics capabilities. Strategic partnerships with technology providers, particularly in areas of artificial intelligence and machine learning, have become increasingly common as companies seek to enhance their predictive maintenance offerings. The industry has witnessed a strong focus on developing user-friendly interfaces and mobile applications to improve accessibility and real-time monitoring capabilities. Companies are also expanding their geographic presence through distribution networks and service centers while simultaneously investing in research and development to maintain competitive advantages in specific end-user segments.

Market Structure Shows Balanced Competitive Dynamics

The condition monitoring equipment market exhibits a moderately consolidated structure with a mix of large multinational corporations and specialized technology providers. Global conglomerates leverage their extensive resources, established distribution networks, and cross-industry expertise to maintain market positions, while specialized players focus on developing niche solutions for specific industries or applications. The competitive landscape is characterized by ongoing consolidation activities, with larger players acquiring smaller, innovative companies to expand their technological capabilities and market reach. The market has witnessed significant merger and acquisition activities aimed at strengthening product portfolios, particularly in areas of wireless monitoring solutions and advanced analytics platforms.


The industry demonstrates a dynamic balance between established players and emerging specialists, with regional variations in market leadership. Companies are increasingly focusing on developing comprehensive solution packages that combine hardware, software, and services to create stronger value propositions. The competitive environment is further shaped by the presence of strong regional players who possess a deep understanding of local market requirements and maintain close relationships with key industrial customers. Strategic partnerships between equipment manufacturers and software companies have become increasingly important in delivering integrated monitoring solutions. The condition monitoring equipment vendors are adapting to these changes by enhancing their offerings to meet the growing demands of the condition monitoring system market.

Innovation and Service Excellence Drive Success

Success in the machine condition monitoring market increasingly depends on companies' ability to deliver comprehensive, integrated solutions that address specific industry challenges. Incumbent players are focusing on expanding their service offerings, developing industry-specific solutions, and strengthening their digital capabilities to maintain market leadership. The ability to provide scalable solutions that can be customized for different end-user requirements while maintaining cost-effectiveness has become crucial. Companies are also investing in building strong after-sales support networks and developing predictive maintenance capabilities to create sustainable competitive advantages.


Market contenders are finding opportunities by focusing on specific industry verticals or geographic regions where they can build specialized expertise. The increasing adoption of Industry 4.0 technologies and the growing emphasis on predictive maintenance create opportunities for companies that can effectively integrate their solutions with existing industrial infrastructure. Success factors include the ability to demonstrate clear return on investment, ensure cybersecurity compliance, and provide seamless integration with existing systems. Companies must also navigate evolving regulatory requirements, particularly in industries like aerospace and defense, while maintaining flexibility to adapt to changing end-user needs and technological advances. The condition monitoring equipment market segments are evolving rapidly, providing new avenues for growth and innovation.

Condition Monitoring Equipment Market Leaders

  1. Rockwell Automation Inc.

  2. Emerson Electric Co.

  3. Meggitt PLC

  4. General Electric Company

  5. SKF

  6. *Disclaimer: Major Players sorted in no particular order
Condition Monitoring Equipment Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Condition Monitoring Equipment Market News

  • February 2023: OMRON Corporation announced that it would globally launch its K7DD-PQ Series of advanced motor condition monitoring devices, starting March 1, 2023, in Japan and then globally on April 3, 2023. The Series is the latest addition to OMRON's family of condition-monitoring devices that automate the monitoring of abnormalities on the manufacturing site in place of human workers. The K7DD-PQ numerically tracks trends in the deterioration and wear of servomotors, machine tools, and other equipment to reduce inspection efforts and prevent unexpected failure.
  • June 2022: The customer services business unit of Siemens Digital Industries purchased Senseye, which was expected to be a fully-owned subsidiary of Siemens Holdings PLC in the United Kingdom. Through this, the business developed its software-as-a-service (SaaS)-based approach to its cloud-hosted predictive maintenance solutions. The acquisition follows a four-year cooperation with Senseye, whose software was offered on Siemens' MindSphereIndustrial Internet of Things (IIoT) as an as-a-service product. Therefore, such strategic investments are expected to drive the market studied during the forecast period.

Condition Monitoring Equipment Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Buyers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitute Products
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Industry Value Chain Analysis
  • 4.4 Assessment of the Impact of COVID-19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Rise in Demand for Smart Factories
    • 5.1.2 Increasing Focus on the use of Renewable Energy
  • 5.2 Market Challenges/Restraints
    • 5.2.1 Unpredictable Maintenance Time Period

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Hardware
    • 6.1.1.1 Vibration Monitoring Equipment
    • 6.1.1.2 Thermography Equipment
    • 6.1.1.3 Lubricating Oil Analysis Equipment
    • 6.1.2 Software
    • 6.1.3 Services
  • 6.2 By End-user Vertical***
    • 6.2.1 Oil and Gas
    • 6.2.2 Power Generation
    • 6.2.3 Process and Manufacturing
    • 6.2.4 Aerospace and Defense
    • 6.2.5 Automotive and Transportation
    • 6.2.6 Other End-user Verticals
  • 6.3 By Geography***
    • 6.3.1 North America
    • 6.3.1.1 United States
    • 6.3.1.2 Canada
    • 6.3.2 Europe
    • 6.3.2.1 Germany
    • 6.3.2.2 United Kingdom
    • 6.3.2.3 France
    • 6.3.2.4 Rest of the Europe
    • 6.3.3 Asia-Pacific
    • 6.3.3.1 China
    • 6.3.3.2 Japan
    • 6.3.3.3 India
    • 6.3.3.4 Rest of the Asia-Pacific
    • 6.3.4 Latin America
    • 6.3.5 Middle East and Africa

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Rockwell Automation Inc.
    • 7.1.2 Emerson Electric Co.
    • 7.1.3 Meggitt PLC
    • 7.1.4 General Electric Company
    • 7.1.5 SKF
    • 7.1.6 Brüel & Kjær Vibro GmbH
    • 7.1.7 Teledyne FLIR LLC
    • 7.1.8 Fluke Corporation
    • 7.1.9 Nippon Avionics Co. Ltd.
    • 7.1.10 Thermo Fisher Scientific Inc.
    • 7.1.11 Perkin Elmer
    • 7.1.12 Spectro Scientific (AMETEK INC.)
    • 7.1.13 Parker Hannifin Corporation
    • 7.1.14 Gastops Ltd.
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

**Subject to Availability
***Segments provided within Hardware Type Segment
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Condition Monitoring Equipment Industry Segmentation

Condition monitoring is the process of monitoring the condition of a machine with the intent of predicting mechanical wear and failure. The monitoring type segmentation is for the condition monitoring product type, i.e., hardware (equipment), software, and services. The further sub-segmentation of the condition monitoring equipment market's hardware segment includes vibration monitoring equipment, thermography equipment, and lubricating oil analysis equipment market.

The scope of the market considers the business-to-business market. For the services segment, third-party condition monitoring service providers are not part of the study's scope and are not part of the market estimation for the study. Software solutions integrated with the hardware are considered under the hardware segment. In contrast, standalone software solutions are covered under software segment estimation based on the inputs received from market experts.

The condition monitoring equipment market is segmented by type (hardware (vibration monitoring equipment (end-user vertical (oil and gas, power generation, process, and manufacturing, aerospace, and defense, automotive, and transportation), geography (North America, Europe, Asia-Pacific, Rest of the World), thermography equipment (end-user vertical (oil and gas, power generation, process, and manufacturing, aerospace, and defense, automotive and transportation), geography (North America, Europe, Asia-Pacific, Rest of the World), lubricating oil analysis equipment (end-user vertical (oil and gas, Power Generation, Process and manufacturing, aerospace and defense, automotive and transportation), geography (North America, Europe, Asia-Pacific, and Rest of the World)), software, services).

The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type Hardware Vibration Monitoring Equipment
Thermography Equipment
Lubricating Oil Analysis Equipment
Software
Services
By End-user Vertical*** Oil and Gas
Power Generation
Process and Manufacturing
Aerospace and Defense
Automotive and Transportation
Other End-user Verticals
By Geography*** North America United States
Canada
Europe Germany
United Kingdom
France
Rest of the Europe
Asia-Pacific China
Japan
India
Rest of the Asia-Pacific
Latin America
Middle East and Africa
Need A Different Region or Segment?
Customize Now

Condition Monitoring Equipment Market Research FAQs

What is the current Condition Monitoring Equipment Market size?

The Condition Monitoring Equipment Market is projected to register a CAGR of 6.66% during the forecast period (2025-2030)

Who are the key players in Condition Monitoring Equipment Market?

Rockwell Automation Inc., Emerson Electric Co., Meggitt PLC, General Electric Company and SKF are the major companies operating in the Condition Monitoring Equipment Market.

Which is the fastest growing region in Condition Monitoring Equipment Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Condition Monitoring Equipment Market?

In 2025, the North America accounts for the largest market share in Condition Monitoring Equipment Market.

What years does this Condition Monitoring Equipment Market cover?

The report covers the Condition Monitoring Equipment Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Condition Monitoring Equipment Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Condition Monitoring Equipment Market Research

Mordor Intelligence provides a comprehensive analysis of the condition monitoring equipment market. We leverage our extensive expertise in industry condition monitoring research and consulting. Our detailed report examines condition monitoring systems across global regions, including the Asia-Pacific machine condition monitoring market and the North America machine condition monitoring market segments. The analysis covers condition monitoring hardware, condition monitoring analytics, and equipment monitoring market trends. This provides stakeholders with crucial insights into manufacturing condition monitoring developments and technological advancements.

The report offers valuable intelligence for stakeholders through a detailed examination of condition monitoring instruments and condition monitoring tools. Our research explores machine condition monitoring sensors market dynamics and the deployment of equipment condition monitors across various industries. The extensive CME market data and condition monitoring surveys are available in an easy-to-read report PDF format for download. It features an in-depth analysis of vibration monitoring equipment market trends and condition monitoring service market opportunities. The report includes comprehensive CME historical data and forward-looking insights, enabling businesses to make informed strategic decisions in the evolving equipment monitoring market.