Market Research Report
Borescope Market by Type (Video, Flexible, Endoscope, Semi-rigid, Rigid), Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, Above 10 mm), Angle (0 to 90, 90 to 180, 180 to 360), Industry, and Region - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||913340|
|Published||Content info||144 Pages
Delivery time: 1-2 business days
|Borescope Market by Type (Video, Flexible, Endoscope, Semi-rigid, Rigid), Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, Above 10 mm), Angle (0 to 90, 90 to 180, 180 to 360), Industry, and Region - Global Forecast to 2024|
|Published: October 1, 2019||Content info: 144 Pages||
The borescope market size is estimated to grow from USD 674 million in 2019 to USD 837 million by 2024 at a CAGR of 4.4%. The key factors driving the growth of the market include the requirement of high operational productivity and the growing need for power generation plant maintenance. However, the development of substitute technology is a key restraining factor for market growth.
Video borescope uses a miniature video camera at the end of the flexible tube. The end of the insertion tube includes a light source, which makes it possible to capture videos or still images deep within equipment and engines. Video borescopes use CCD or CMOS camera sensors, which provide high-quality images compared with other types of borescopes. High demand for video borescopes is attributed to their use for the inspection of pumps, motors, generators, gearboxes, and maritime surveying.
The growth of borescopes with diameters ranging from 3 mm to 6 mm can be attributed mainly to their increased use in industries such as automotive, power generation, aviation, and manufacturing for weld inspections and industrial inspections.
The automotive industry is expected to continue to dominate the market due to the increasing number of vehicles across the world. Major countries are focusing on electric mobility with the help of government initiatives for zero- and low-emission vehicles. Thus, borescopes are increasingly being used for the inspection of mufflers, linings, transmission systems, and frames, among others.
The infrastructure advancements and adoption of automation in manufacturing industries in countries such as China and India are likely to boost the demand for borescopes in APAC. Countries in the region have shale gas activities and approved projects for the production of commercial aircraft, which is expected to lead the manufacturing of in-house large passenger planes. The projects for aircraft and nuclear power plants are likely to boost the demand for borescopes used for inspection of turbines, generators, and landing gears.
Profile break-up of primary participants for the report is given below:
The key players in the market include: Olympus (Japan), SKF (Sweden), Baker Hughes (US), FLIR (US), Stanlay (India), FLUKE (US), Vizaar (Germany), AIT (US), Gradient Lens Corporation (US), and JME Technologies (US).
The global borescope market is segmented into type, diameter, angle, industry, and geography. The market based on type is segmented into video borescopes, flexible borescopes, endoscopes, semi-rigid borescopes, and rigid borescopes. Based on diameter, the market has split into 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10mm. Based on angle, the market has split into 0° to 90°, 90° to 180°, and 180° to 360°. The industries that are included in the study of the market include automotive, aviation, power generation, oil & gas, manufacturing, chemicals, food & beverages, pharmaceuticals, and others. The market is segmented into four regions-North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).