Global Video Inspection Equipment Market to 2028 – Impact and Analysis of COVID-19 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD) – The report “Video Inspection Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis” has been added to ResearchAndMarkets.com offer.

The global video inspection equipment market is expected to grow from US $ 1,311.63 million in 2021 to US $ 1,834.35 million by 2028; it is estimated to increase at a CAGR of 4.9% during 2021-2028.

The off-shore and on-shore activities of the oil and gas industry are developing considerably. Inspection of pipelines using camera systems is economical and fast for various industries, such as oil and gas. Several companies, such as Visioprobe, provide waterproof industrial inspection cameras to inspect casings, pipelines, tanks and pressure vessels for corrosion. The gas pipe involves challenges in both metal and plastic pipes, where video inspection plays a crucial role. Adherence to oil and gas industry standards for pipe inspection is driving the growth of video inspection equipment market due to operations such as production services, drilling, reservoir engineering, l ‘maintenance of wells, refining and transportation of petroleum products. All of the above mentioned operations require timely pipeline inspection.

Therefore, the whole oil and gas inspection industry operates to strict standards and strives for efficient operation equipment. Some of the applications in the oil and gas industry that require video inspection include burners and nozzles, compressors, pumps, gas pipes, furnace stacks, gas and steam turbines, boiler stacks. heat recovery and steam lines.

Maverick Inspection Ltd. provides CSA approved explosion-proof video inspection equipment for various applications, such as turbine blades, heat exchanger tubes, and process troubleshooting. The company also offers industrial drone inspections with collision tolerant drones, specially designed for internal inspections.

The video inspection equipment market is segmented on the basis of component, application, end user, and geography. On the basis of components, the market is segmented into cameras, carriers, monitors and recorders, software, and others. The cameras segment accounted for the largest share of the overall market in 2020. In terms of application, the video inspection equipment market is segmented into drains and sewers, electrical conduits and conduits, pipeline and others. In 2020, the pipeline and sewer segment accounted for the substantial share of the market. Based on the end user, the market is segmented into Oil & Gas, Manufacturing & Construction, Food & Beverage, Chemicals & Pharmaceuticals, and Others. The oil and gas segment accounted for the largest market share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAT). In 2020, North America accounted for the significant share of the global market.

Spain, Italy, Germany, UK and France are among the worst affected member states in Europe due to the COVID-19 outbreak. Companies in the region are facing serious financial difficulties as they have had to either suspend their operations or reduce their activities substantially. The region is a major manufacturing and industrial center for sectors such as automotive, construction, energy and power, pharmaceuticals, and food and beverage. Various member states in Europe, such as Italy, Spain, France, UK and Germany have put in place drastic measures and travel restrictions to limit the spread of the new coronavirus among its citizens .

The video inspection equipment market in Europe is experiencing increased demand and growth due to the strict industry / government regulations on quality and safety in various countries. The lockdown has hampered new industrial projects and investments in various European countries, hampering the growth of the video inspection equipment market in this region. In addition, video inspection equipment manufacturers in this region have faced supply problems due to the disruption of raw material and electronic component supply from China.

Reasons to buy

  • Gain and reduce the time required to conduct entry-level research by identifying the growth, size, leading players and segments in the global Video Inspection Equipment Market.

  • Highlights key business priorities to help companies realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global Video Inspection Equipment Market, thereby enabling value chain players to develop effective long term strategies.

  • Develop / modify business expansion plans using a substantial growth offering in developed and emerging markets.

  • Take an in-depth look at the global market trends and outlook associated with the factors driving the market, as well as those hindering it.

  • Improve the decision-making process by understanding the strategies that underpin the business interest with respect to customer products, segmentation, pricing and distribution.

Market dynamics

Conductors

  • Growing awareness of efficient sewerage infrastructure

  • Increase in manufacturing and construction projects

Constraints

  • Lack of awareness of video inspection equipment

Opportunities

  • Growing activities in the oil and gas industry

Future trends

  • Integration of advanced technologies into video inspection equipment for enhanced capabilities

Companies mentioned

  • Aries Industries, Inc.

  • CUES Inc. (SPX Corporation)

  • Sub-site electronics

  • Vivax-Metrotech Corp

  • Rausch Electronics USA, LLC

  • Envirosight LLC

  • Hathorn Company

  • IBAK Helmut Hunger GmbH & Co. KG

  • CDS Company

  • Extech (Flir Systems Inc.)

For more information on this report, visit https://www.researchandmarkets.com/r/fv2y35.

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