Dublin, Oct. 09, 2019 (GLOBE NEWSWIRE) -- The "Borescope Market by 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°), Industry, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The borescope market was valued at USD 647.6 million in 2018 and is projected to reach USD 837.3 million by 2024; it is expected to grow at a CAGR of 4.4% from 2019 to 2024.

Key Market Highlights

• Video borescope market to witness high growth potential during the forecast period
• 3 mm to 6mm borescope market to grow at the highest CAGR during the forecast period
• Borescope market for automotive to grow at the highest CAGR during the forecast period
• Asia-Pacific to be the fastest-growing market for borescope during the forecast period

The growth of this market is attributed to the growing demand for high operational productivity and increased need for power plant maintenance. However, the development of substitute technology such as small robots is restraining the market growth. Moreover, increasing training cost due to lack of skilled workforce acts as a challenge to borescope manufacturers.

The borescope market has been segmented by type, diameter, angle, industry, and geography. Key players in the borescope market are Olympus (Japan), SKF (Sweden), Baker Hughes (US), and FLIR (US), among others. These companies have adopted key strategies such as product launches, collaborations, expansions, and partnerships to expand their business operations and customer base worldwide.

Key Topics Covered

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Data From Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at Market Size Using Bottom-Up Analysis
2.2.2 Top-Down Approach
2.2.2.1 Approach for Arriving at Market Size Using Bottom-Up Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Market, 2019-2024 (USD Million)
4.2 Market, By Type
4.3 Market, By Diameter
4.4 Market, By Angle
4.5 Market, By Industry and Region
4.6 Market, By Geography

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Operational Productivity
5.2.1.2 Power Generation Plant Maintenance
5.2.2 Restraints
5.2.2.1 Development of Substitute Technology
5.2.3 Opportunities
5.2.3.1 Large Scale Development of Infrastructure
5.2.3.2 Emergence of Electric Vehicles
5.2.4 Challenges
5.2.4.1 Increasing Training Cost Due to Lack of Skilled Workforce
5.3 Value Chain Analysis

6 Borescope Market, By Type
6.1 Introduction
6.2 Video Borescopes
6.2.1 Video Borescopes to Lead Market During Forecast Period
6.3 Flexible Borescopes
6.3.1 Market for Flexible Borescopes With Diameters Ranging From 3mm to 6mm to Hold Largest Size During Forecast Period
6.4 Endoscopes
6.4.1 Market for Endoscopes With Diameters Ranging From 3mm to 6mm to Grow at Highest Rate During Forecast Period
6.5 Semi-Rigid Borescopes
6.5.1 Semi-Rigid Borescopes With Diameters Ranging From 0 mm to 3 mm to Hold Second-Largest Share During Forecast Period
6.6 Rigid Borescopes
6.6.1 High Resolution and Easy Operation of Rigid Borescopes Makes Them Popular Type of Borescopes

7 Borescope Market, By Diameter
7.1 Introduction
7.2 Borescopes With Diameters Ranging From 0 mm to 3 mm
7.2.1 Market for Video Borescopes With Diameters Ranging From 0 mm to 3 mm to Hold Largest Size During Forecast Period
7.3 Borescopes With Diameters Ranging From 3 mm to 6 mm
7.3.1 Market for Borescopes With Diameters Ranging From 3 mm to 6 mm Held Largest Size of Overall Market in 2018
7.4 Borescopes With Diameters Ranging From 6 mm to 10 mm
7.4.1 Market for Video Borescopes With Diameters Ranging From 6 mm to 10 mm to Grow at Highest CAGR From 2019 to 2024
7.5 Borescopes With Diameters Above 10 mm
7.5.1 Market for Flexible Borescopes With Diameters Above 10 mm to Grow at Highest CAGR During Forecast Period

8 Borescope Market, By Angle
8.1 Introduction
8.2 0 to 90
8.2.1 Borescopes With Viewing Angles 0 to 90 to Hold Largest Market Share During Forecast Period
8.3 90 to 180
8.3.1 Borescopes With Viewing Angles 90 to 180 Offer Flexibility
8.4 180 to 360
8.4.1 Borescopes With Viewing Angles 180 to 360 Articulate in All Directions

9 Borescope Market, By Industry
9.1 Introduction
9.2 Automotive
9.2.1 Adoption of Video Borescopes for Regular Automotive Maintenance
9.3 Aviation
9.3.1 Use of Borescopes for Inspecting Engines, Brakes, and Wings of Aircraft
9.4 Power Generation
9.4.1 Implementation of Borescopes for Inspecting Corrosion, Erosion, Welding, and Other Defects in Power Equipment
9.5 Oil & Gas
9.5.1 Use of Borescopes for Inspection of Storage Tanks, Flares, Crude Units, and Many Other Components
9.6 Manufacturing
9.6.1 Borescopes Ensure Maximum Efficiency of Machinery During Production
9.7 Chemicals
9.7.1 Utilization of Borescopes for Inspecting Processing Equipment Such as Filters, Heat Exchangers, Pumps, and Mixers
9.8 Food & Beverages
9.8.1 Adoption of Borescopes for Testing Common Problems Related to Cleanliness and Contamination
9.9 Pharmaceuticals
9.9.1 Requirement of Borescopes for Non-Destructive Testing to Ensure Quality of Pipelines
9.10 Others

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 Us
10.2.1.1 US to Hold Largest Market Size of Market in North America During the Forecast Period
10.2.2 Canada
10.2.2.1 Canada to Be Fastest-Growing Country in North American Market
10.2.3 Mexico
10.2.3.1 Mexican Market to Be Driven By Growing Food & Beverages and Automotive Industries
10.3 Europe
10.3.1 Germany
10.3.1.1 Increasing Vehicle Production to Drive Market in Germany
10.3.2 UK
10.3.2.1 Rising Demand for Renewable Energy to Create Demand for Borescopes in Uk
10.3.3 France
10.3.3.1 Growing Power and Aviation Industries to Boost Demand for Borescopes in France
10.3.4 Rest of Europe
10.3.4.1 Expanding Manufacturing Capabilities in Rest of European Countries to Create Demand for Borescopes
10.4 APAC
10.4.1 China
10.4.1.1 China to Be Leading and Fastest-Growing Market in APAC
10.4.2 Japan
10.4.2.1 Increasing Growth in Automotive and Aviation Sectors to Boost Market for Non-Destructive Testing
10.4.3 India
10.4.3.1 Rising Fdi to Grow Industrial and Manufacturing Sectors of India
10.4.4 Rest of APAC
10.4.4.1 Growing Mining Industry in Australia to Drive Demand for Borescopes
10.5 RoW
10.5.1 South America
10.5.1.1 Leading Emerging Economies to Account for Largest Market Share of South America
10.5.2 Africa
10.5.2.1 Growing Transportation and Construction Sectors to Create Demand for Borescopes in Africa
10.5.3 Middle East
10.5.3.1 Rising Investments in Oil & Gas Sector to Drive Market in Middle East

11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players in Market
11.3 Competitive Leadership Mapping, 2019
11.3.1 Visionaries
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Competitive Situations & Trends
11.4.1 Product Launches
11.4.2 Collaborations, Expansions, and Partnerships, 2017-2019

12 Company Profiles
12.1 Key Players
12.1.1 Baker Hughes
12.1.1.1 Business Overview
12.1.1.2 Products Offered
12.1.1.3 SWOT Analysis
12.1.2 Flir
12.1.3 Fluke
12.1.4 Olympus
12.1.5 SKF
12.1.6 Advance Inspection Technologies
12.1.7 Gradient Lens Corporation
12.1.8 Jme Technologies
12.1.9 Stanlay
12.1.10 Vizaar
12.2 Other Key Players
12.2.1 Lenox
12.2.2 Moritex
12.2.3 Nexxis
12.2.4 PCE Instruments
12.2.5 RF Systems
12.2.6 SPI Engineering
12.2.7 Storz
12.2.8 Teslong
12.2.9 USA Borescope
12.2.10 Yateks

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