기계 상태 모니터링 시장 : 규모, 점유율, 성장, 산업 분석, 유형별, 용도별, 지역별 인사이트, 예측(2024-2032년)

Growth Factors of machine condition monitoring Market

The global machine condition monitoring market is entering a high-growth phase, driven by rapid industrial automation, the rise of predictive maintenance, and widespread adoption of Industry 4.0 technologies. According to the latest industry report, the market was valued at USD 2.78 billion in 2024, is projected to grow to USD 2.99 billion in 2025, and is expected to reach USD 5.53 billion by 2032, progressing at a CAGR of 9.14%. In 2024, Asia Pacific dominated the market with a 36.33% share, supported by large-scale manufacturing bases and accelerating digital transformation across China, India, Japan, and Southeast Asia.

Machine condition monitoring solutions-covering vibration analysis, oil analysis, thermography, acoustic monitoring, and performance analytics-are becoming indispensable for reducing downtime, lowering operational risk, and optimizing asset health. Industries such as oil & gas, power generation, manufacturing, mining, automotive, chemicals, aerospace, and defense rely heavily on these technologies to detect failures early and improve productivity. Rapid advancements in sensor technology, artificial intelligence, and cloud connectivity further enhance real-time machine diagnostics.

Market Drivers

A major driver of market growth is the global shift toward Industrial IoT (IIoT) and smart factory ecosystems. Sensors embedded in machines now collect high-frequency operational data, enabling predictive maintenance strategies that reduce unexpected failures and improve asset life cycles. Governments worldwide are also investing in digital infrastructure and Industry 4.0 integration, boosting adoption of advanced monitoring systems.

For example, NKE FERSA and Nanoprecise jointly launched an innovative wind turbine monitoring system in December 2024, supporting early fault detection and extending equipment life. The growing demand for automation, cost reduction, and remote insights continues to propel machine condition monitoring across all industrial sectors.

Market Restraints

High implementation and upgrade costs remain a major restraint, particularly for small and mid-sized enterprises. Integrating advanced monitoring solutions with legacy machinery requires specialized expertise, infrastructure upgrades, and continuous training. Skill gaps also challenge technicians who must interpret complex vibration signatures, thermal patterns, and oil analytics. Limited budgets delay adoption among SMEs despite long-term operational benefits.

Market Opportunities

The integration of AI and machine learning into monitoring solutions presents significant opportunities for market expansion. Advanced algorithms analyze large datasets from sensors, identify patterns, and predict potential failures more accurately than traditional methods. GE Vernova's 2024 AI-powered autonomous inspection solution highlights how intelligent monitoring systems are reshaping maintenance strategies. Growing industrialization in emerging markets, combined with increasing demand for automation, provides strong growth potential for the global market through 2032.

Market Trends

A key trend transforming the landscape is the accelerated adoption of wireless monitoring and cloud-based analytics. These systems reduce installation costs, enable remote tracking, and provide real-time data visualization. The rise of smart factories is also strengthening demand for eco-friendly, low-maintenance monitoring solutions. In January 2025, Sweden-based Puresignal launched a wireless AI-enabled lubrication monitoring system with a 2 km operational range, showing how next-generation monitoring systems are evolving.

Segmental Insights

Vibration analysis remains the dominant equipment segment due to its effectiveness in diagnosing faults in rotating machinery. Oil analysis solutions are also expanding as industries prioritize contamination detection and lubrication health. Thermography, holding 29% share in 2024, continues to grow for its ability to detect temperature anomalies quickly and safely.

Among end users, manufacturing & mining lead due to increasing adoption of predictive maintenance in complex machinery. Automotive companies are expanding deployment of condition monitoring to maximize production efficiency, while the aerospace & defense sector is projected to capture 11% market share in 2025. The oil & gas segment is expected to grow steadily at a 7.85% CAGR over the forecast period.

Regional Overview

Asia Pacific

The fastest-growing region, the Asia Pacific market was valued at USD 1.01 billion in 2024 and is supported by strong automation initiatives and robust industrial presence. In 2025, China is projected to reach USD 0.29 billion, Japan USD 0.23 billion, and India USD 0.18 billion.

North America

Expected to reach USD 0.85 billion in 2025, North America benefits from strong adoption across automotive, aerospace, and energy sectors. The U.S. alone is forecasted to achieve USD 0.52 billion in 2025.

Europe

Europe continues adopting advanced monitoring technologies and is expected to reach USD 0.65 billion in 2025, driven by sustainability regulations and high automation uptake.

Conclusion

The machine condition monitoring market shows strong growth potential, rising from USD 2.78 billion in 2024 to USD 2.99 billion in 2025, and ultimately reaching USD 5.53 billion by 2032. Increasing industrial automation, IIoT integration, AI-driven diagnostics, and demand for predictive maintenance will continue to propel market expansion well into the next decade.

Segmentation By Equipment, End User, and Region

Segmentation By Equipment

• Vibration Analysis
• Oil Analysis
• Thermography

By End User

• Oil & Gas
• Power Generation
• Manufacturing & Mining
• Chemicals
• Automotive
• Aerospace and Defense
• Others (Marine & Propulsion)

By Region

• North America (By Equipment, By End User, and By Country)
  • U.S. (By Equipment)
  • Canada (By Equipment)
  • Mexico (By Equipment)
• South America (By Equipment, By End User, and By Country)
  • Brazil (By Equipment)
  • Argentina (By Equipment)
  • Rest of South America
• Europe (By Equipment, By End User, and By Country)
  • U.K. (By Equipment)
  • Germany (By Equipment)
  • France (By Equipment)
  • Italy (By Equipment)
  • Spain (By Equipment)
  • Russia (By Equipment)
  • Rest of Europe
• Asia Pacific (By Equipment, By End User, and By Country)
  • China (By Equipment)
  • India (By Equipment)
  • Japan (By Equipment)
  • South Korea (By Equipment)
  • ASEAN (By Equipment)
  • Rest of Asia Pacific
• Middle East & Africa (By Equipment, By End User, and By Country)
  • South Africa (By Equipment)
  • GCC (By Equipment)
  • Rest of Middle East & Africa

Key Market Players Profiled in the Report General Vernova (U.S.), Honeywell International Inc. (U.S.), SKF (Netherlands), Siemens AG (Germany), Rockwell Automation Inc. (U.S.), Fluke Corporation (Japan), Bentley Nevada (Nevada), Acoem (France), Schaeffler (U.S.), Bosch Rexroth AG (Germany)

Table of Content

1. Introduction

• 1.1. Definition, By Segment
• 1.2. Research Methodology/Approach
• 1.3. Data Sources

2. Executive Summary

3. Market Dynamics

• 3.1. Macro and Micro Economic Indicators
• 3.2. Drivers, Restraints, Opportunities and Trends
• 3.3. Impact of Industry 4.0

4. Competition Landscape

• 4.1. Business Strategies Adopted by Key Players
• 4.2. Consolidated SWOT Analysis of Key Players
• 4.3. Global Machine Condition Monitoring Key Players [Top 3-5] Market Share/Ranking, 2024

5. Global Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 5.1. Key Findings
• 5.2. By Equipment (USD)
  • 5.2.1. Vibration Analysis
  • 5.2.2. Oil Analysis
  • 5.2.3. Thermography
• 5.3. By End User (USD)
  • 5.3.1. Oil & Gas
  • 5.3.2. Power Generation
  • 5.3.3. Manufacturing & Mining
  • 5.3.4. Chemicals
  • 5.3.5. Automotive
  • 5.3.6. Aerospace and Defense
  • 5.3.7. Others (Marine & Propulsion)
• 5.4. By Region (USD)
  • 5.4.1. North America
  • 5.4.2. South America
  • 5.4.3. Europe
  • 5.4.4. Asia Pacific
  • 5.4.5. Middle East & Africa

6. North America Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 6.1. Key Findings
• 6.2. By Equipment (USD)
  • 6.2.1. Vibration Analysis
  • 6.2.2. Oil Analysis
  • 6.2.3. Thermography
• 6.3. By End User (USD)
  • 6.3.1. Oil & Gas
  • 6.3.2. Power Generation
  • 6.3.3. Manufacturing & Mining
  • 6.3.4. Chemicals
  • 6.3.5. Automotive
  • 6.3.6. Aerospace and Defense
  • 6.3.7. Others (Marine & Propulsion)
• 6.4. By Country (USD)
  • 6.4.1. United States
    • 6.4.1.1. By Equipment
  • 6.4.2. Canada
    • 6.4.2.1. By Equipment
  • 6.4.3. Mexico
    • 6.4.3.1. By Equipment

7. South America Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 7.1. Key Findings
• 7.2. By Equipment (USD)
  • 7.2.1. Vibration Analysis
  • 7.2.2. Oil Analysis
  • 7.2.3. Thermography
• 7.3. By End User (USD)
  • 7.3.1. Oil & Gas
  • 7.3.2. Power Generation
  • 7.3.3. Manufacturing & Mining
  • 7.3.4. Chemicals
  • 7.3.5. Automotive
  • 7.3.6. Aerospace and Defense
  • 7.3.7. Others (Marine & Propulsion)
• 7.4. By Country (USD)
  • 7.4.1. Brazil
    • 7.4.1.1. By Equipment
  • 7.4.2. Argentina
    • 7.4.2.1. By Equipment
  • 7.4.3. Rest of South America

8. Europe Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 8.1. Key Findings
• 8.2. By Equipment (USD)
  • 8.2.1. Vibration Analysis
  • 8.2.2. Oil Analysis
  • 8.2.3. Thermography
• 8.3. By End User (USD)
  • 8.3.1. Oil & Gas
  • 8.3.2. Power Generation
  • 8.3.3. Manufacturing & Mining
  • 8.3.4. Chemicals
  • 8.3.5. Automotive
  • 8.3.6. Aerospace and Defense
  • 8.3.7. Others (Marine & Propulsion)
• 8.4. By Country (USD)
  • 8.4.1. United Kingdom
    • 8.4.1.1. By Equipment
  • 8.4.2. Germany
    • 8.4.2.1. By Equipment
  • 8.4.3. France
    • 8.4.3.1. By Equipment
  • 8.4.4. Italy
    • 8.4.4.1. By Equipment
  • 8.4.5. Spain
    • 8.4.5.1. By Equipment
  • 8.4.6. Russia
    • 8.4.6.1. By Equipment
  • 8.4.7. Rest of Europe

9. Asia Pacific Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 9.1. Key Findings
• 9.2. By Equipment (USD)
  • 9.2.1. Vibration Analysis
  • 9.2.2. Oil Analysis
  • 9.2.3. Thermography
• 9.3. By End User (USD)
  • 9.3.1. Oil & Gas
  • 9.3.2. Power Generation
  • 9.3.3. Manufacturing & Mining
  • 9.3.4. Chemicals
  • 9.3.5. Automotive
  • 9.3.6. Aerospace and Defense
  • 9.3.7. Others (Marine & Propulsion)
• 9.4. By Country (USD)
  • 9.4.1. China
    • 9.4.1.1. By Equipment
  • 9.4.2. India
    • 9.4.2.1. By Equipment
  • 9.4.3. Japan
    • 9.4.3.1. By Equipment
  • 9.4.4. South Korea
    • 9.4.4.1. By Equipment
  • 9.4.5. ASEAN
    • 9.4.5.1. By Equipment
  • 9.4.6. Rest of Asia Pacific

10. Middle East & Africa Machine Condition Monitoring Market Size Estimates and Forecasts, By Segments, 2019-2032

• 10.1. Key Findings
• 10.2. By Equipment (USD)
  • 10.2.1. Vibration Analysis
  • 10.2.2. Oil Analysis
  • 10.2.3. Thermography
• 10.3. By End User (USD)
  • 10.3.1. Oil & Gas
  • 10.3.2. Power Generation
  • 10.3.3. Manufacturing & Mining
  • 10.3.4. Chemicals
  • 10.3.5. Automotive
  • 10.3.6. Aerospace and Defense
  • 10.3.7. Others (Marine & Propulsion)
• 10.4. By Country (USD)
  • 10.4.1. South Africa
    • 10.4.1.1. By Equipment
  • 10.4.2. GCC
    • 10.4.2.1. By Equipment
  • 10.4.3. Rest of MEA

11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)

• 11.1. General Vernova
  • 11.1.1. Overview
    • 11.1.1.1. Key Management
    • 11.1.1.2. Headquarters
    • 11.1.1.3. Offerings/Business Segments
  • 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.1.2.1. Employee Size
    • 11.1.2.2. Past and Current Revenue
    • 11.1.2.3. Geographical Share
    • 11.1.2.4. Business Segment Share
    • 11.1.2.5. Recent Developments
• 11.2. Honeywell International Inc.
  • 11.2.1. Overview
    • 11.2.1.1. Key Management
    • 11.2.1.2. Headquarters
    • 11.2.1.3. Offerings/Business Segments
  • 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.2.2.1. Employee Size
    • 11.2.2.2. Past and Current Revenue
    • 11.2.2.3. Geographical Share
    • 11.2.2.4. Business Segment Share
    • 11.2.2.5. Recent Developments
• 11.3. SKF
  • 11.3.1. Overview
    • 11.3.1.1. Key Management
    • 11.3.1.2. Headquarters
    • 11.3.1.3. Offerings/Business Segments
  • 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.3.2.1. Employee Size
    • 11.3.2.2. Past and Current Revenue
    • 11.3.2.3. Geographical Share
    • 11.3.2.4. Business Segment Share
    • 11.3.2.5. Recent Developments
• 11.4. Siemens AG
  • 11.4.1. Overview
    • 11.4.1.1. Key Management
    • 11.4.1.2. Headquarters
    • 11.4.1.3. Offerings/Business Segments
  • 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.4.2.1. Employee Size
    • 11.4.2.2. Past and Current Revenue
    • 11.4.2.3. Geographical Share
    • 11.4.2.4. Business Segment Share
    • 11.4.2.5. Recent Developments
• 11.5. Rockwell Automation Inc.
  • 11.5.1. Overview
    • 11.5.1.1. Key Management
    • 11.5.1.2. Headquarters
    • 11.5.1.3. Offerings/Business Segments
  • 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.5.2.1. Employee Size
    • 11.5.2.2. Past and Current Revenue
    • 11.5.2.3. Geographical Share
    • 11.5.2.4. Business Segment Share
    • 11.5.2.5. Recent Developments
• 11.6. Fluke Corporation
  • 11.6.1. Overview
    • 11.6.1.1. Key Management
    • 11.6.1.2. Headquarters
    • 11.6.1.3. Offerings/Business Segments
  • 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.6.2.1. Employee Size
    • 11.6.2.2. Past and Current Revenue
    • 11.6.2.3. Geographical Share
    • 11.6.2.4. Business Segment Share
    • 11.6.2.5. Recent Developments
• 11.7. Bentley Nevada
  • 11.7.1. Overview
    • 11.7.1.1. Key Management
    • 11.7.1.2. Headquarters
    • 11.7.1.3. Offerings/Business Segments
  • 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.7.2.1. Employee Size
    • 11.7.2.2. Past and Current Revenue
    • 11.7.2.3. Geographical Share
    • 11.7.2.4. Business Segment Share
    • 11.7.2.5. Recent Developments
• 11.8. Acoem
  • 11.8.1. Overview
    • 11.8.1.1. Key Management
    • 11.8.1.2. Headquarters
    • 11.8.1.3. Offerings/Business Segments
  • 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.8.2.1. Employee Size
    • 11.8.2.2. Past and Current Revenue
    • 11.8.2.3. Geographical Share
    • 11.8.2.4. Business Segment Share
    • 11.8.2.5. Recent Developments
• 11.9. Schaeffler
  • 11.9.1. Overview
    • 11.9.1.1. Key Management
    • 11.9.1.2. Headquarters
    • 11.9.1.3. Offerings/Business Segments
  • 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.9.2.1. Employee Size
    • 11.9.2.2. Past and Current Revenue
    • 11.9.2.3. Geographical Share
    • 11.9.2.4. Business Segment Share
    • 11.9.2.5. Recent Developments
• 11.10. Bosch Rexroth AG
  • 11.10.1. Overview
    • 11.10.1.1. Key Management
    • 11.10.1.2. Headquarters
    • 11.10.1.3. Offerings/Business Segments
  • 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.10.2.1. Employee Size
    • 11.10.2.2. Past and Current Revenue
    • 11.10.2.3. Geographical Share
    • 11.10.2.4. Business Segment Share
    • 11.10.2.5. Recent Developments

12. Key Takeaways