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Borescope Market by Type (Video, Flexible, Endoscope, Semi-Rigid, and Rigid), Diameter (0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and Above 10 mm), Angle (0° to 90°, 90° to 180°, and 180° to 360°), and End User (Automotive, Aerospace, Power Generation, Oil & Gas, Manufacturing, Chemicals, Food & Beverages, Pharmaceuticals, and Others (Mining and Construction)): Global Opportunity Analysis and Industry Forecast, 2021–2027

A08318
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Feb 2021 | 137 Views
 
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COVID-19

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Borescope Market Outlook - 2027

Industrial borescope is an optical device utilized to inspect areas where manual intervention and access in pipelines, tubing, wells, and other boring areas are difficult. Industrial borescope consists of controllers, optical fibers/crawlers, eye-pieces, cameras, and platforms for lifting and lighting. Optical fibers or crawlers are used in borescopes to illuminate obstacles to reach inaccessible detection areas while optical lens & eye-pieces provide a magnified view of the target area. Borescope also assists in monitoring of aircraft engines, industrial gas turbines, especially gas turbines, fuel systems, and steam turbines due to their high safety measures.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Diameter, Angle, End User, and Region

  Regions covered

North America (Canada, Mexico, U.S.), Europe (France, Germany, UK, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), LAMEA (Africa, Latin America, Middle East)

  Companies covered

Major players analyzed are Olympus (Japan), SKF (Sweden), Baker Hughes (US), FLIR (US), Stanlay (India), FLUKE (US), Vizaar (Germany), AIT (US), Gradient Lens Corporation (US), JME Technologies (US)

 

COVID-19 scenario Analysis: 

  • Global borescope market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which have led to a significant decline in demand for borescopes.
  • Global factories have struggled to integrate new borescopes as workers have stayed in their homes, which has disrupted the global supply chains.   
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these borescopes are gradually going to increase. 

This COVID-19 lockdown would help companies think about more advanced borescopes to enhance efficiency. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Borescope is favored in the industrial sector where accessibility is disruptive, costly, and time-consuming. Due to these pre-eminent inspection characteristics, demand for industrial borescopes increases inspection and maintenance operations in the manufacturing industry, which drives the market. Industrial borescopes have become indispensable part of inspection activities in pipeline inspection, mainly in the oil & industry, and offer economic benefits by minimizing inspection time, downtime and labor costs. Throughout the technological era, main manufacturers focus on ongoing technological developments to generate new avenues for growth by targeting untapped areas of use, which gives impetus to the market growth. In addition, price of industrial borescope is comparatively less compared to other equipment due to which preference of users have moved toward use of borescopes.

The global borescope market trends are as follows:

Automotive borescope market to witness a strong growth 

The automotive industry is predicted to experience highest CAGR during the forecast period. Borescopes are used mainly to identify and diagnose engine, valves, fuel pipe wear, carbon particles, and blockages. Demand for borescopes in the automotive industry is expected to increase, owing to high adoption of vehicles in developed countries.

Asia-Pacific borescope market to grow at the highest CAGR during the forecast period

The borescope market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. China and Japan are the key contributors to the market growth. In emerging economies such as China, India, and Japan, rapid growth of automotive, power generation, and aviation industries has led to growth of the Asia-Pacific borescope industry.

0 ° to 90 ° borescope market to witness the highest CAGR 

A borescope has an angle of 0 ° for straight-on viewing, while a borescope offering side view of a tube has an angle of 90°. Borescopes with the latter viewing angle, with greater detail than a straight-ahead borescope, can examine piping and other small cavities. High growth for borescopes between 0 ° and 90 ° can be attributed to increase in demand from industries such as aviation, automotive, and electricity.

Key segments covered:

Segments

Subsegments

  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°

  End User

  • Automotive
  • Aerospace
  • Power Generation
  • Oil & Gas
  • Manufacturing
  • Chemicals
  • Food & Beverages
  • Pharmaceuticals
  • Others

 

 

Key benefits of the report:

  • This study presents the analytical depiction of the global borescope industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global borescope market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global borescope market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global borescope market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the borescope market research report:

  • Who are the leading market players active in the borescope market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the borescope market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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