Condition-based maintenance (CBM) is a maintenance strategy that monitors the actual condition of an asset to decide what maintenance needs to be done. CBM dictates that maintenance should only be performed when certain indicators show signs of decreasing performance or upcoming failure. Checking a machine for these indicators may include non-invasive measurements, visual inspection, performance data and scheduled tests. Condition data can then be gathered at certain intervals, or continuously (as is done when a machine has internal sensors). Condition-based maintenance can be applied to mission critical and non-mission critical assets.

According to Researcher's new survey, global Condition-Based Maintenance (CBM) market is projected to reach US$ million in 2029, increasing from US$ million in 2022, with the CAGR of % during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Condition-Based Maintenance (CBM) market research.

The market driver for Condition-Based Maintenance (CBM) is the increasing need for cost-effective and efficient maintenance strategies in various industries. CBM is a proactive maintenance approach that uses real-time data and condition monitoring techniques to assess the health of equipment and predict potential failures. Several factors contribute to the growing demand for CBM in the market:

Cost Savings: CBM helps in optimizing maintenance activities by performing maintenance only when necessary based on the actual condition of equipment. This approach reduces unnecessary maintenance costs and minimizes downtime, resulting in significant cost savings for industries.

Improved Equipment Reliability: CBM allows for early detection of equipment anomalies and potential failures, enabling timely maintenance and repairs before a breakdown occurs. This improves equipment reliability and extends its useful life.

Minimized Downtime: By identifying potential issues in advance, CBM enables scheduled maintenance, reducing unplanned downtime and minimizing production disruptions in industrial processes.

Enhanced Safety: Timely maintenance and condition monitoring help prevent equipment failures that could lead to safety hazards for workers and the environment.

Advancements in Sensor Technology: The development of advanced sensors and monitoring technologies has made it easier and more cost-effective to implement CBM in various industries.

Industry 4.0 and IIoT Integration: CBM is closely aligned with the concepts of Industry 4.0 and the Industrial Internet of Things (IIoT). The integration of CBM with smart sensors and data analytics platforms enables real-time data collection and analysis, enhancing maintenance efficiency and accuracy.

Regulatory Compliance: In industries with strict regulations and safety standards, CBM helps organizations comply with maintenance requirements and ensure equipment reliability.

Growing Complexity of Industrial Equipment: As industrial equipment becomes more complex and sophisticated, traditional time-based maintenance approaches may not be sufficient to detect potential issues. CBM provides a more proactive and reliable maintenance solution for modern equipment.

Remote Monitoring and Predictive Analytics: CBM leverages remote monitoring capabilities and predictive analytics to identify trends and patterns in equipment performance, allowing maintenance teams to take proactive measures.

Sustainability and Resource Optimization: CBM aligns with sustainability goals by minimizing unnecessary maintenance activities, reducing the consumption of resources like energy and spare parts, and contributing to a more efficient and eco-friendly maintenance approach.

Adoption in Various Industries: CBM is applied in a wide range of industries, including manufacturing, oil and gas, power generation, transportation, aerospace, and healthcare, driving its widespread adoption.

Report Scope

This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Condition-Based Maintenance (CBM) market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.


By Company


Fiix (Rockwell Automation)

Eagle Technology

ABB

Honeywell

Emerson Electric

FasTrak SoftWorks

Intertek Group

Siemens

SERTICA (RINA)

James Fisher Mimic

BV Solutions M&O

Matics

Ureason

Info Marine

Intertek

Nexus Integra

PROGNOST

Allied Reliability

MPulse Software

SenseGrow

Qualitrol

Sensonics Ltd


Segment by Type


Software

Service


Segment by Application


Automotive

Oil and Gas

Semiconductor

Nuclear Energy

Others

By Region

North America

United States

Canada

Europe

Germany

France

UK

Italy

Russia

Nordic Countries

Rest of Europe

Asia-Pacific

China

Japan

South Korea

Southeast Asia

India

Australia

Rest of Asia

Latin America

Mexico

Brazil

Rest of Latin America

Middle East & Africa

Turkey

Saudi Arabia

UAE

Rest of MEA

The Condition-Based Maintenance (CBM) report covers below items:

Chapter 1: Product Basic Information (Definition, Type and Application)

Chapter 2: Global market size, regional market size. Market Opportunities and Challenges

Chapter 3: Companies’ Competition Patterns

Chapter 4: Product Type Analysis

Chapter 5: Product Application Analysis

Chapter 6 to 10: Country Level Value Analysis

Chapter 11: Companies’ Outline

Chapter 12: Market Conclusions

Chapter 13: Research Methodology and Data Source