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Reliable Data You Can Trust
A recent report published by Infinium Global Research on borescope
market provides an in-depth analysis of segments and sub-segments in the global as
well as regional borescope market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional borescope
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global borescope market.
According to the report, the global borescope market is projected to grow at a
CAGR of 4.5% over the forecast period of 2019-2025.
Borescope is an optical device used for visual inspection of the area
that is inaccessible by other means. Borescope is majorly used in
non-destructive testing techniques to recognise the defects. The leading
companies operating in the global borescope market are adopting strategies such
as mergers, acquisitions, and new product launches that expand their market
share. For instance, in 2017, GE Inspection Technologies LP acquired Baker
Hughes. Automation and technological development boosts the application of
borescope in manufacturing, sector.
The rising need for power generation plant maintenance drives the
growth of the borescope market. Borescopes are used for visual inspection in
different industries like aviation, power generation, automotive, oil &
gas, and manufacturing. The increasing need for high operational productivity
contributes to the growth of the borescope market. The rising adoption of
automation in manufacturing industries stimulates the growth of the borescope
market. The rising need for different inspections facilities to get a
comprehensive view of the inner part of machinery contributes to the growth of
the borescope market. Borescope reduces repair time and cost due to easy
inspection without dismantling parts of machineries. The growing development of
optical technologies promotes the growth of the borescope market. In addition,
the use of video borescope is increasing due to its real-time inspection of
engines and parts of mufflers and cylinders that contributes to the growth of
the borescope market. On the flip side, the lack of good lighting conditions
restraints the growth of the borescope market. Moreover, the use of borescope
in surface vision creates novel opportunities for the growth of the borescope
market.
Based on geography, the global borescope market is classified into
North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific
region is expected to hold a premium share in the global borescope market. With
the increasing infrastructural development, growing automation in the
manufacturing industry and power generation in emerging countries like India,
China drives the growth of the borescope market in the Asia-Pacific region.
North America is anticipated to grow in the global borescope market with a
significant CAGR over the forecast period. Europe is showing growth in the
global borescope market.
The report on global borescope market covers segments such as
type, diameter, and angle. On the basis of type, the sub-markets include video,
endoscope, flexible, semi-rigid, and rigid. On the basis of diameter, the
sub-markets include 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10 mm.
On the basis of angle, the sub-markets include 0° to 90°, 90° to 180°, and 180°
to 360°.
The report provides profiles of the companies in the market such
as GE Inspection Technologies LP, AB SKF, Olympus Corporation, ACL Stanlay,
Fluke Corporation, viZaar Industrial Imaging AG, Advanced Inspection
Technologies Inc., Gradient Lens Corporation, JME Technologies Inc., Atlas
Inspection Technologies Inc., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of borescope market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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