Borescope Market Size, Share, Trends, Growth 2032

Borescope Industry Prospective:

The global borescope market size was worth around USD 787.91 million in 2023 and is predicted to grow to around USD 1141 million by 2032 with a compound annual growth rate (CAGR) of roughly 4.2% between 2024 and 2032.

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The report covers forecasts and analyses for the global borescope market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures. The study provides historic data of 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Units) and revenue (USD Million).

Borescope Market: Overview

The global borescope market is likely to have significant growth in the coming years and is expected to grow at a single-digit CAGR within the forecast period. There is a humongous scope in the borescope market owing to a variety of applications, technological advancement, and growing demand in the market. The several features of the boroscope which propel the market are; pressure resistance, temperature resistance, superior stability under load, and resistance to oil, solvent, and fuel.

Some of the special image characteristics of boroscopes that will upsurge the demand are; true-color images, superior image sharpness, adjustable focus, and optimum image brightness. The manufacturing industry provides enormous opportunities for the borescope market to sustain and drive the market at a significant pace. Borescopes are utilized where the accessibility is destructive, time-consuming, and expensive such as; at the time of the inspection of gas turbines, heat exchangers, aircraft operations, hydraulic components, inspection of welding joints, HVAC systems, etc. which has ultimately created demand for the borescope market.

Borescope Market: Growth Factors

The growing demand for the automotive industry and more emphasis on electrically driven vehicles, owing to the government intervention towards the low level of vehicle emission have created a major impact on the industry which are the primary drivers to boost up the global borescope market. In the automobile industry, borescopes are extensively used for the inspection of the transmission system, linings, frames, and mufflers.

The secondary factor that is boosting the demand for the borescope is the accurate observation at the manufacturing and production line to get the overall view of the parts and components in machines and equipment. Some of the factors which might hamper the growth of the borescope market are new technology such as robots which might become the substitute for the boroscope and training costs associated with the boroscope because of the unskilled labor force with a lack of technological knowledge. 

Borescope Market: Segmentation

The global borescope market has been categorized on the basis of the type, diameter, angle, and end-use industry.

Based on the type, the borescope market is segmented into video, flexible, endoscope, semi-rigid, and rigid. The video borescope uses a waterproof camera at the end of a flexible tube which offers superior-quality videos and images compared to other types of borescopes. Typically this kind of borescope has high demand during the time of the inspection of pipes, motors, pumps, and gearboxes.

Based on the diameter, the borescope market is segmented into 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10mm. The segment ranging from 3mm to 6mm is typically used in industries such as manufacturing for weld inspections, power generation, aviation, automotive, and industrial inspections.

Based on the angle, the borescope market is segmented into 0° to 90°, 90° to 180°, 180° to 360°.

Based on the end-use industry, the borescope market is segmented into automotive, aviation, power generation, oil & gas, manufacturing, chemicals, food & beverages, pharmaceuticals, and others (mining and construction).

Borescope Market: Report Scope

Borescope Market: Competitive Space

The key players in the global borescope market are 

• Olympus (Japan)
• SKF (Sweden)
• Baker Hughes (US)
• FLIR (US)
• Stanlay (India)
• FLUKE (US)
• Vizaar (Germany)
• AIT (US)
• Gradient Lens Corporation (US)
• JME Technologies (US).

This report segments the global borescope market as follows:

Global Borescope Market: Type Segment Analysis

• Video
• Flexible
• Endoscope
• Semi-rigid
• Rigid

Global Borescope Market: Diameter Analysis

• 0 mm to 3 mm
• 3 mm to 6 mm
• 6 mm to 10 mm
• Above 10 mm Others

Global Borescope Market: Angle Analysis

• 0° to 90°
• 90° to 180°
• 180° to 360°

Global Borescope Market: End-Use Industry Analysis

• Automotive
• Aviation
• Power Generation
• Oil & Gas
• Manufacturing
• Chemicals
• Food & Beverages
• Pharmaceuticals
• Others

Global Borescope Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa