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The machine condition monitoring market comprises monitoring equipment such as vibration monitoring, thermography, ultrasound emission, lubricating oil analysis, corrosion monitoring, acoustic emission that help detect early signs of developing faults in machines. These monitors monitor the working condition of critical machinery in various industries such as oil & gas, metals & mining, power generation, automotive, food & beverages and evaluate equipment vibration signatures to prevent unplanned downtime. The global Machine Condition Monitoring Market is estimated to be valued at US$ 3,965.6 Million in 2023 and is expected to exhibit a CAGR Of 9.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
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