Borescope Market revenue to reach USD 1 Billion by 2035
Zion Market Research has published a new report titled “Global Borescope Market Report by Type (Video, Flexible, Endoscope, Semi-rigid, Rigid), by Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, Above 10 mm), by Angle (0° to 90°, 90° to 180°, 180° to 360°), and by End Use Industry (Automotive, Aviation, Power Generation, Oil & Gas, Manufacturing, Chemicals, Food & Beverages, Pharmaceuticals, Others (Mining and Construction): Global Industry Perspective, Comprehensive Analysis, and Forecast.
The global borescope market size is predicted to expand at ~4% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 1 Billion by the end of 2035, up from a revenue of ~USD 700 Million in the year 2022.
The global borescopes market is expected to observe noteworthy growth over the years. Borescope is an optical device that comprises of controller, eyepiece, optical fibers/crawlers, cameras, lighting and lifting platforms. They are utilized where the accessibility is destructive, time-consuming and expensive for instance, at the time of the inspection of gas turbines, heat exchangers, aircraft operations, hydraulic components, inspection of welding joints, HVAC system etc. Due to these inspection characteristics, the demand for the borescopes is expected to grow in the manufacturing industry for maintenance and inspection activities, which in turn is expected to drive the borescopes market in the forecast timeframe, across the globe. Additionally, borescopes are majorly utilized in the oil & gas industry for pipeline inspection and offers economic advantage through minimizing inspection time, labor cost, and downtime period, which is estimated to propel the market growth.
The global borescope market has been segmented on the basis of the type, diameter, angle, and end-use industry. Based on the type, the borescope market is segmented into video, flexible, endoscope, semi-rigid, and rigid. The video borescope segment is likely to have a maximum share within the forecast period as it offers superior quality videos and images compared to other types of borescopes. This is due to the waterproof camera which is fitted at the end of a flexible tube. Typically, this kind of borescope has high demand during the time of the inspection of pipes, motors, pumps, and gearboxes. Based on the diameter, the borescope market is segmented into 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10mm. The segment ranging from 3mm to 6mm is anticipated to grow at a noticeable rate within the forecast period as it is typically used in industries such as manufacturing for weld inspections, power generation, aviation, automotive, and industrial inspections. Based on the angle, the borescope market is segmented into 0° to 90°, 90° to 180°, 180° to 360°. Based on the end-use industry, the borescope market is segmented into automotive, aviation, power generation, oil & gas, manufacturing, chemicals, food & beverages, pharmaceuticals, others. The automotive industry segment is estimated to hold the highest market share within the forecast period. Borescopes are utilized for detecting & diagnosing the carbon deposits, wear, & blockages of the engine, fuel pipes, and cylinders. With the increasing number of vehicles across the globe, the demand for borescopes in the automotive industry is anticipated to grow at a noticeable rate.
The key players in the global borescope market are -
- Olympus
- SKF
- Gradient Lens Corporation
- Baker Hughes
- FLIR
- JME Technologies
- Stanlay
- FLUKE
- Vizaar
- AIT.
This report segments the global borescope market as follows:
Global Borescope Market: Type Segment Analysis
- Video
- Flexible
- Endoscope
- Semi-rigid
- Rigid
Global Borescope Market: Diameter Analysis
- 0 mm to 3 mm
- 3 mm to 6 mm
- 6 mm to 10 mm
- Above 10 mm Others
Global Borescope Market: Angle Analysis
- 0° to 90°
- 90° to 180°
- 180° to 360°
Global Borescope Market: End-Use Industry Analysis
- Automotive
- Aviation
- Power Generation
- Oil & Gas
- Manufacturing
- Chemicals
- Food & Beverages
- Pharmaceuticals
- Others
Global Borescope Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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