Dublin, Jan. 13, 2022 (GLOBE NEWSWIRE) -- The "Video Inspection Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
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 grow at a CAGR of 4.9% during 2021-2028.
The off-shore and on-shore businesses within the oil & gas industry are growing considerably. The inspection of pipelines using camera systems is economical and fast for various industries, such as oil & gas. Several companies, such as Visioprobe, provide waterproof industrial inspection cameras for inspecting caissons, pipelines, tanks, and pressure vessels for corrosion. The gas pipe involves challenges in both, metal and plastic piping, where video inspection plays a crucial role. Compliance with standards in the oil & gas industry for pipe inspection is stimulating the market growth of video inspection equipment because of operations, such as production services, drilling, reservoir engineering, well servicing, refining, and transportation of petroleum products. All the above-mentioned operations require timely pipeline inspection.
Therefore, the entire oil & gas inspection industry runs according to stringent standards and endeavors to have efficient running equipment. Some of the oil & gas industry applications that require video inspection include burners and tips, compressors, pumps, gas lines, furnace stacks, gas and steam turbines, waste heat boiler stacks, and steam lines.
Maverick Inspection Ltd. provides CSA-rated explosion-proof video inspection equipment for various applications, such as turbine blades, exchanger tubes, and process troubleshooting. The company also offers industrial drone inspections with collision tolerant drones, especially designed for internal inspections.
The video inspection equipment market is segmented on the basis of component, application, end user, and geography. Based on component, the market is segmented into cameras, transporters, monitors & recorders, software, and others. The cameras segment represented the largest share of the overall market in 2020. In terms of application, the video inspection equipment market is segmented into drain & sewer, electrical conduit & ducts, pipeline, and others. In 2020, the drain & sewer segment accounted for the substantial share of the market. Based on end user, the market is segmented into oil & gas, manufacturing & construction, food & beverages, chemicals & pharmaceuticals, and others. The oil & gas segment represented the largest market share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
Spain, Italy, Germany, the UK, and France are among the worst affected member states in Europe due to COVID-19 outbreak. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. The region is a major manufacturing and industrial hub for sectors such as automotive, construction, energy & power, pharmaceuticals, and food & beverages. Various member states in Europe, such as Italy, Spain, France, the UK, and Germany, have implemented drastic measures and travel restrictions to limit the spread of the novel coronavirus among its citizens. Hence, due to business lockdowns, travel restrictions, and supply chain disruptions, Europe witnessed an economic slump in 2020 and it continued in 2021, also.
The video inspection equipment market in Europe witnesses increased demand and growth owing to the stringent quality and safety industry/government regulations in various countries. The lockdown has adversely affected new industrial projects and investments in various European countries, thus hindering the growth of the video inspection equipment market in this region. In addition, the video inspection equipment manufacturers in this region faced the supply problems due to the disrupted supply of raw materials and electronic component from China. The video inspection equipment markets in Italy, Spain, Germany, the UK, and France are anticipated witnessed worst impact in 2020 and 2021.
A few major players operating in the global video inspection equipment market are Envirosight LLC, Hathorn Corporation, CUES, Inc., Aries Industries, Inc., Rausch Electronics USA, LLC, Subsite Electronics, IBAK Helmut Hunger GmbH & Co. KG, Vivax-Metrotech Corp., Extech Instruments, and CDS Manufacturing.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global video inspection equipment market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global video inspection equipment market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Video Inspection Equipment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East and Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Video Inspection Equipment -Market Dynamics
5.1 Market Drivers
5.1.1 Rising Awareness for Efficient Sewage Infrastructure
5.1.2 Increase in Manufacturing and Constructional Projects
5.2 Market Restraints
5.2.1 Lack of Awareness for Video Inspection Equipment
5.3 Market Opportunities
5.3.1 Growing Activities in Oil & Gas Industry
5.4 Future Trends
5.4.1 Advanced Technology Integration in Video Inspection Equipment for Enhanced Capabilities
5.5 Impact Analysis of Drivers and Restraints
6. Video Inspection Equipment Market - Global Analysis
6.1 Video Inspection Equipment Market Global Overview
6.2 Video Inspection Equipment Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Video Inspection Equipment Market Analysis - By Component
7.1 Overview
7.2 Video Inspection Equipment Market Breakdown, by Component, 2020 & 2028
7.3 Cameras
7.3.1 Overview
7.3.2 Cameras Market Revenue and Forecast to 2028 (US$ Million)
7.4 Transporters
7.4.1 Overview
7.4.2 Transporters Market Revenue and Forecast to 2028 (US$ Million)
7.5 Monitors & Recorders
7.5.1 Overview
7.5.2 Monitors & Recorders Market Revenue and Forecast to 2028 (US$ Million)
7.6 Software
7.6.1 Overview
7.6.2 Software Market Revenue and Forecast to 2028 (US$ Million)
7.7 Other Components
7.7.1 Overview
7.7.2 Other Component Market Revenue and Forecast to 2028 (US$ Million)
8. Video Inspection Equipment Market Revenue and Forecast to 2028 - Application
8.1 Overview
8.2 Global Video Inspection Equipment Market Breakdown, By Application, 2020 & 2028
8.3 Drain & Sewer
8.3.1 Overview
8.3.2 Drain & Sewer Market Forecast and Analysis
8.4 Electrical Conduit & Ducts
8.4.1 Overview
8.4.2 Electrical Conduit & Ducts Market Forecast and Analysis
8.5 Pipeline
8.5.1 Overview
8.5.2 Pipeline Market Forecast and Analysis
8.6 Other Applications
8.6.1 Overview
8.6.2 Other Applications Market Forecast and Analysis
9. Video Inspection Equipment Market Revenue and Forecast to 2028 - End User
9.1 Overview
9.2 Global Video Inspection Equipment Market Breakdown, By End User, 2020 & 2028
9.3 Oil & Gas
9.3.1 Overview
9.3.2 Oil & Gas Market Forecast and Analysis
9.4 Manufacturing & Construction
9.4.1 Overview
9.4.2 Manufacturing & Construction Market Forecast and Analysis
9.5 Food & Beverages
9.5.1 Overview
9.5.2 Food & Beverages Market Forecast and Analysis
9.6 Chemicals & Pharmaceuticals
9.6.1 Overview
9.6.2 Chemicals & Pharmaceuticals Market Forecast and Analysis
9.7 Other End Users
9.7.1 Overview
9.7.2 Other End Users Market Forecast and Analysis
10. Video Inspection Equipment Market - Geographic Analysis
11. Video Inspection Equipment Market- COVID-19 Impact Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 South America
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Envirosight LLC
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hathorn Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 CUES, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Aries Industries, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Rausch Electronics USA, LLC.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Subsite Electronics
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 IBAK Helmut Hunger GmbH & Co. KG
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Vivax-Metrotech Corp.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Extech Instruments
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 CDS Manufacturing
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
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