This market research report covers the growth prospects of the global vibration meter market with segmentation based on product (digital and analog), end-user (manufacturing, chemical processing, oil and gas, and others), and geography (APAC, EMEA, and the Americas). It also includes an insightful analysis of the leading vendors in this market, such as Davis, Extech, Fluke, Kanomax, and SPM.
Technavio’s market research analysts estimate the global vibration meter market to grow at a CAGR of more than 6% between 2016 and 2020. The primary growth driver of vibration meter market is the stable growth of primary end-user industries, such as manufacturing, chemical processing, and oil and gas. The Americas is the dominant region in the global vibration meter market, accounting for more than 39% of the overall market share. The introduction of stringent safety restrictions and equipment maintenance regulations in the North American region is expected to impel the market for vibration meters in the Americas.
The new market research report from Technavio provides a breakdown and analysis of the vibration meter segments by technology.
“One of the interesting trends that this market is witnessing is the miniaturization of devices. Vendors are coming up with smaller, more compact, and portable vibration meters, owing to rapid advancements in nanotechnology. Now-a-days, vibration meters use accelerometers to measure vibrations and store them in the device. Major vendors like Fluke and Castle are offering vibration meters are of the same size as an average cell phone and weigh less than one pound,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
Technavio’s market research analyst estimates the manufacturing segment to be the largest market segment during the forecast period, occupying around 39% of the overall market revenue. The segment is expected to generate revenues of $128 million by the end of 2020 due to the recent increase in the new applications for vibrations meters. China, Germany, US, India and South Korea are the major industrial manufacturing nations across the world.
The leading vendors in the global vibration meter market include Davis, Extech, Fluke, Kanomax, and SPM. This market is highly fragmented due to the presence of multiple large and small vendors. Though there are several vendors in the market with strong global presence, most the domestic players have a larger share of the market in their respective regions. However, it has been observed that unlike other markets, there is no single business entity that dominates this market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Vibration Meter Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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