Demand will likely strengthen as markets increasingly adopt condition monitors that help them cut costs and avoid production downtime.
Los Angeles, CA (PRWEB) January 04, 2012
The Machine Condition Monitoring Equipment Manufacturing industry will continue to post strong gains over the next five years, aided by technological developments and new products, according to a new report from IBISWorld, the nation’s largest publisher of industry research. Demand will likely strengthen as markets increasingly adopt condition monitors that help them cut costs and avoid production downtime. Specifically, the development of lower-cost advanced CM equipment, combined with rapid processing functions, direct and wireless communication tools and improved software is anticipated to lead to further saturation of industry products into new markets. Combined with other positive demand drivers, such as growing foreign demand, revenue is forecast to increase at an annualized rate of 6.2% to $2.2 billion over the five years to 2016. In 2012, sales are projected to jump to $1.7 billion. For this reason, industry research firm IBISWorld has added a report on the Machine Condition Monitoring Equipment Manufacturing Industry to its growing Industrial Machinery Report collection.
According to IBISWorld, the Machine Condition Monitoring Equipment Manufacturing industry is fragmented because CM equipment can be relatively simple to employ and generates a quick return on investment for the company that implements it. The major players highlighted in IBISWorld’s report include, General Electric Company (Bently Nevada), Honeywell International Inc and Emerson Electric Co. (CSI, AMS Suite). For more information, including latest Industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation’s largest publisher of industry research on the Machine Condition Monitoring Equipment Manufacturing industry for $825.
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