Global powertrain condition monitoring market set to reach $778.7 million by 2024, with 9.7% growth forecast

From GlobeNewswire: 2025-01-14 06:30:00

The global Powertrain Condition Monitoring Market is set to reach US$ 778.7 million in 2024, with a projected growth rate of 9.7% from 2024 to 2034. Various industries like automotive, aerospace, and industrial machinery are driving this growth by adopting advanced monitoring systems for efficient predictive maintenance and fault detection using AI and IoT technologies.

Key players in the market include Bosch, Continental AG, AVL List GmbH, Denso Corporation, and others. These companies are focusing on expansion, technological advancements, and strategic partnerships to gain a significant market share in the powertrain condition monitoring industry.

In January 2024, SKF introduced a new powertrain condition monitoring system for electric and hybrid vehicles. This system utilizes advanced sensor technology and AI-based analytics to monitor key components like motors, batteries, and transmissions in real-time. By enabling predictive maintenance, this system helps reduce downtime and maintenance costs while improving energy consumption and vehicle performance.

Industry giants like Bosch, AVL, and Denso are investing in sustainable solutions for electric vehicle powertrains. Bosch’s battery technology aims to enhance battery efficiency and longevity, while AVL’s simulation tool accelerates the development of electric and hybrid powertrains. Denso’s collaboration focuses on energy-efficient electric car solutions for battery management system enhancements.

Fact.MR provides unbiased analysis of the Powertrain Condition Monitoring Market, offering historical data from 2019 to 2023 and forecast statistics from 2024 to 2034. With insights on maintenance types, technology, applications, and regional trends, companies can make informed decisions to capitalize on emerging opportunities and stay competitive in the market.



Read more at GlobeNewswire: Powertrain Condition Monitoring Market Size is Expected to