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Oct 1, 2020 9:06 PM ET

Borescope Market is set for a Rapid Growth and is expected to Reach USD 861.6 Million by 2026


iCrowd Newswire - Oct 1, 2020

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, 2018 – 2026.”According to the report, the Borescope Market accounted for USD 620 Million in 2018 and is expected to reach USD 861.6 Million by 2026, growing at a CAGR of around 4.2% between 2019 and 2026.

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.

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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, and AIT.

This report segments the global borescope market as follows:

Global Borescope Market: Type Segment Analysis

Global Borescope Market: Diameter Analysis

Global Borescope Market: Angle Analysis

Global Borescope Market: End-Use Industry Analysis

Global Borescope Market: Regional Segment Analysis

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Keywords:    Borescope Market

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