What is Global Flexible Video Borescopes Market?
The Global Flexible Video Borescopes Market is a specialized sector within the broader market of visual inspection tools. These devices, which are essentially small cameras on flexible cables, are used to visually inspect areas that are difficult to reach or not directly visible. They are particularly useful in industries where detailed visual inspection of complex machinery or structures is required. The global market for these devices is substantial and growing, with a value of US$ 431.5 million in 2022 and an anticipated value of US$ 633.1 million by 2029. This represents a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2023 to 2029.
0-6 mm Diameter, Above 6 mm Diameter in the Global Flexible Video Borescopes Market:
The Global Flexible Video Borescopes Market is segmented based on the diameter of the borescope, with two main categories being 0-6 mm and above 6 mm. The 0-6 mm diameter borescopes are the most popular, accounting for more than 50% of the market. These smaller diameter borescopes are particularly useful in industries where space is at a premium and detailed inspection of small components is required. On the other hand, borescopes with a diameter above 6 mm are used in applications where a larger field of view is required.
General Industry, Automotive, Aerospace, Construction, Other in the Global Flexible Video Borescopes Market:
The use of flexible video borescopes is widespread across a variety of industries including general industry, automotive, aerospace, construction, and others. In the general industry, these devices are used for routine maintenance and inspection of machinery and equipment. In the automotive industry, which accounts for more than 30% of the market, they are used for inspecting engine components, fuel systems, and other hard-to-reach areas of vehicles. In the aerospace industry, borescopes are used for inspecting turbine engines, airframes, and other critical components. In the construction industry, they are used for inspecting structures for defects or damage. Other industries that use these devices include oil and gas, power generation, and manufacturing among others.
Global Flexible Video Borescopes Market Outlook:
The market outlook for the Global Flexible Video Borescopes Market is positive, with steady growth anticipated over the forecast period. The market was valued at US$ 431.5 million in 2022 and is expected to reach US$ 633.1 million by 2029, representing a CAGR of 5.7%. The largest manufacturer in this market is Olympus, which holds a market share of over 25%. The most popular type of borescope is the 0-6 mm diameter, which accounts for more than 50% of the market. The automotive industry is the largest application area for these devices, with a market share of over 30%.
| Report Metric | Details |
| Report Name | Flexible Video Borescopes Market |
| Accounted market size in 2022 | US$ 431.5 million |
| Forecasted market size in 2029 | US$ 633.1 million |
| CAGR | 5.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Olympus, Baker Hughes, SKF, Mitcorp, Yateks, viZaar, Gradient Lens, Lenox Instrument, AIT, 3R, Shenzhen Jeet Technology |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
