Industrial Endoscope Market Forecast 2025 | Global Report

As per credible estimates, global industrial endoscope market is expected to record a substantial growth rate of 4% during the forecast period, thus reaching USD 696.7 million by the year 2025. Industrial endoscope helps in non-destructive inspection of inaccessible process components such as condenser tubes, boilers, compressors, valves, gears, pistons, motors, furnaces, air ducts, heating vents, sewer pipes, and drains. The equipment is lightweight and flexible, hence making it highly mobile and agile. Rising concerns regarding worker safety and strict government regulations pertaining to safe working environment have increased the inspection and maintenance activities across manufacturing and industrial facilities. Adding to this, rapid industrialization and rising prevalence of operational hazards are driving the industrial endoscope market growth.

Growing demand for high operational productivity is further aiding the industrial endoscope market expansion. The product assists in cutting down labor cost and equipment downtime period as well as reducing the inspection time. Availability of industrial endoscopes on rental basis, their widespread use for real-time inspection of engines and other components coupled with advancements in optical technology are providing an impetus to the growth of market share.

As per the product type, industrial endoscopes market is classified into rigid borescopes, fiberscopes, and others. The rigid borescopes segment is expected to register significant growth during the forecast period. Rigid borescopes are not only easy to operate but also comprise of glass image system that provide excellent image quality. It offers better temperature resistance as compared to its counterpart. Increasing utilization of rigid borescopes in applications that require straight-line access to inspection point are favoring the market outlook.

Based on the application spectrum, the market is categorized into automotive industry, aerospace industry, power industry, construction industry, and others. Automotive industry applications of industrial endoscope are presumed to expand decently during 2020-2025. Industrial endoscopes are extensively used in QC process of vehicle as well as for inspection of automobile manufacturing processes. Strict government regulations regarding vehicle safety and increasing awareness pertaining to safe working environment have impelled the demand for industrial endoscopes in automotive industry. In addition, increasing production and sales of automobiles coupled with growing automotive industry are driving the overall market growth. According to Statista, Volkswagen Group sold around 372,445 units and accounted for 24.3% of total new car registrations across 28 European countries in the year 2019.

As per the regional landscape, global industrial endoscope market is divided into regions including North America, South America, Europe, Asia-Pacific, and Middle East & Africa. North America industrial endoscope market is anticipated to amass modest gains in the subsequent years, primarily due to flourishing aerospace industry. Rising concerns and strict federal regulations regarding worker safety have enhanced the number of inspection activities across manufacturing sector, which in turn is augmenting the regional demand for the equipment.

Yateks, Olympus, GE, SKF, Karl Storz, Mitcorp, IT Concepts, Coantec, 3R, viZaar, SENTECHAMAR NARAIN, Gradient Lens, Wohler, and AIT are the major contenders operating in the global industrial endoscope market. These industry behemoths are undertaking business expansion strategies such as mergers & acquisitions, and collaborations to establish global stronghold.

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