Global Inspection Robots Market 2022-2026

Description

List of Tables

Technavio has been monitoring the inspection robots market and it is poised to grow by $ 5.27 bn during 2022-2026, accelerating at a CAGR of 18.88% during the forecast period. Our report on the inspection robots market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the advantages of robotic inspection over manual inspection, rising demand for automated inspection and testing, and the increasing number of M&A.

The inspection robots market analysis includes the type and end-user segments and geographic landscape.

Technavio's inspection robots market is segmented as below:

By Type

ROVs
Autonomous robots

By End-user

Oil and gas
Petrochemicals
Food and beverages
Others

By Geographic

Europe
North America
APAC
South America
The Middle East and Africa

This study identifies advancements in the robotic inspection as one of the prime reasons driving the inspection robots market growth during the next few years. Also, the integration of IoT and ai to optimize inspection operations and advancements in mobile robots will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the inspection robots market covers the following areas:

Inspection robots market sizing
Inspection robots market forecast
Inspection robots market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading inspection robots market vendors that include Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations Ltd, Eddyfi NDT Inc., FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co, Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd, IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc. Also, the inspection robots market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR40023

1 Executive Summary

1.1 Market Overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market Definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
4.2 Bargaining power of buyers
Exhibit 19: Chart on the Bargaining power of buyers - Impact of key factors 2021 and 2026
4.3 Bargaining power of suppliers
Exhibit 20: Bargaining power of suppliers - Impact of key factors in 2021 and 2026
4.4 Threat of new entrants
Exhibit 21: Threat of new entrants - Impact of key factors in 2021 and 2026
4.5 Threat of substitutes
Exhibit 22: Threat of substitutes - Impact of key factors in 2021 and 2026
4.6 Threat of rivalry
Exhibit 23: Threat of rivalry - Impact of key factors in 2021 and 2026
4.7 Market condition
Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments
Exhibit 25: Chart on Type - Market share 2021-2026 (%)
Exhibit 26: Data Table on Type - Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 27: Chart on Comparison by Type
Exhibit 28: Data Table on Comparison by Type
5.3 ROVs - Market size and forecast 2021-2026
Exhibit 29: Chart on ROVs - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on ROVs - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on ROVs - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on ROVs - Year-over-year growth 2021-2026 (%)
5.4 Autonomous robots - Market size and forecast 2021-2026
Exhibit 33: Chart on Autonomous robots - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Autonomous robots - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Autonomous robots - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Autonomous robots - Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Type
Exhibit 37: Market opportunity by Type ($ million)

6 Market Segmentation by End-user

6.1 Market segments
Exhibit 38: Chart on End-user - Market share 2021-2026 (%)
Exhibit 39: Data Table on End-user - Market share 2021-2026 (%)
6.2 Comparison by End-user
Exhibit 40: Chart on Comparison by End-user
Exhibit 41: Data Table on Comparison by End-user
6.3 Oil and gas - Market size and forecast 2021-2026
Exhibit 42: Chart on Oil and gas - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on Oil and gas - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on Oil and gas - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on Oil and gas - Year-over-year growth 2021-2026 (%)
6.4 Petrochemicals - Market size and forecast 2021-2026
Exhibit 46: Chart on Petrochemicals - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Petrochemicals - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Petrochemicals - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Petrochemicals - Year-over-year growth 2021-2026 (%)
6.5 Food and beverages - Market size and forecast 2021-2026
Exhibit 50: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)
6.6 Others - Market size and forecast 2021-2026
Exhibit 54: Chart on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Others - Year-over-year growth 2021-2026 (%)
6.7 Market opportunity by End-user
Exhibit 58: Market opportunity by End-user ($ million)

7 Customer Landscape

7.1 Customer landscape overview
Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation
Exhibit 60: Chart of Market share By Geographical Landscape 2021-2026 (%)
Exhibit 61: Data Table on Market share By Geographical Landscape 2021-2026 (%)
8.2 Geographic comparison
Exhibit 62: Chart of Geographic comparison
Exhibit 63: Data Table on Geographic comparison
8.3 Europe - Market size and forecast 2021-2026
Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)
8.4 North America - Market size and forecast 2021-2026
Exhibit 68: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 69: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 70: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 71: Data Table on North America - Year-over-year growth 2021-2026 (%)
8.5 APAC - Market size and forecast 2021-2026
Exhibit 72: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on APAC - Year-over-year growth 2021-2026 (%)
8.6 South America - Market size and forecast 2021-2026
Exhibit 76: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on South America - Year-over-year growth 2021-2026 (%)
8.7 Middle East and Africa - Market size and forecast 2021-2026
Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
8.8 US - Market size and forecast 2021-2026
Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)
8.9 China - Market size and forecast 2021-2026
Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)
8.10 Germany - Market size and forecast 2021-2026
Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)
8.11 Japan - Market size and forecast 2021-2026
Exhibit 96: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 97: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 98: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 99: Data Table on Japan - Year-over-year growth 2021-2026 (%)
8.12 Canada - Market size and forecast 2021-2026
Exhibit 100: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 101: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 102: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 103: Data Table on Canada - Year-over-year growth 2021-2026 (%)
8.13 Market opportunity By Geographical Landscape
Exhibit 104: Market opportunity By Geographical Landscape ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2021 and 2026
9.4 Market trends

10 Vendor Landscape

10.1 Overview
10.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
10.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
10.4 Industry risks
Exhibit 108: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
Exhibit 109: Vendors covered
11.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
11.3 Blue Origin Enterprises LP
Exhibit 111: Blue Origin Enterprises LP - Overview
Exhibit 112: Blue Origin Enterprises LP - Product / Service
Exhibit 113: Blue Origin Enterprises LP - Key offerings
11.4 Cognex Corp.
Exhibit 114: Cognex Corp. - Overview
Exhibit 115: Cognex Corp. - Product / Service
Exhibit 116: Cognex Corp. - Key offerings
11.5 Cross Co.
Exhibit 117: Cross Co. - Overview
Exhibit 118: Cross Co. - Product / Service
Exhibit 119: Cross Co. - Key offerings
11.6 Eddyfi NDT Inc.
Exhibit 120: Eddyfi NDT Inc. - Overview
Exhibit 121: Eddyfi NDT Inc. - Product / Service
Exhibit 122: Eddyfi NDT Inc. - Key offerings
11.7 General Electric Co
Exhibit 123: General Electric Co - Overview
Exhibit 124: General Electric Co - Business segments
Exhibit 125: General Electric Co - Key news
Exhibit 126: General Electric Co - Key offerings
Exhibit 127: General Electric Co - Segment focus
11.8 Groupe Gorge SA
Exhibit 128: Groupe Gorge SA - Overview
Exhibit 129: Groupe Gorge SA - Business segments
Exhibit 130: Groupe Gorge SA - Key news
Exhibit 131: Groupe Gorge SA - Key offerings
Exhibit 132: Groupe Gorge SA - Segment focus
11.9 IPG Photonics Corp.
Exhibit 133: IPG Photonics Corp. - Overview
Exhibit 134: IPG Photonics Corp. - Product / Service
Exhibit 135: IPG Photonics Corp. - Key offerings
11.10 Mistras Group Inc.
Exhibit 136: Mistras Group Inc. - Overview
Exhibit 137: Mistras Group Inc. - Business segments
Exhibit 138: Mistras Group Inc. - Key offerings
Exhibit 139: Mistras Group Inc. - Segment focus
11.11 TechnipFMC plc
Exhibit 140: TechnipFMC plc - Overview
Exhibit 141: TechnipFMC plc - Business segments
Exhibit 142: TechnipFMC plc - Key offerings
Exhibit 143: TechnipFMC plc - Segment focus
11.12 Teradyne Inc.
Exhibit 144: Teradyne Inc. - Overview
Exhibit 145: Teradyne Inc. - Business segments
Exhibit 146: Teradyne Inc. - Key news
Exhibit 147: Teradyne Inc. - Key offerings
Exhibit 148: Teradyne Inc. - Segment focus

12 Appendix

12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 149: Inclusions checklist
Exhibit 150: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 151: Currency conversion rates for US$
12.4 Research methodology
Exhibit 152: Research methodology
Exhibit 153: Validation techniques employed for market sizing
Exhibit 154: Information sources
12.5 List of abbreviations
Exhibit 155: List of abbreviations
- in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
- slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.