Borescope Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Borescope Market Analysis

The Borescope Market is expected to register a CAGR of 5% over the forecast period. Borescopes are utilized where the accessibility is destructive, time-consuming, and expensive, such as the inspection of gas turbines, heat exchangers, aircraft operations, hydraulic components, welding joints, HVAC systems, etc., which has ultimately created a demand for the market studied.

• The borescope market is growing due to high operational productivity and the increasing need for power generation plants and maintenance. According to India's National Investment Promotion and Facility Agency, the Indian power sector is undergoing significant change, reshaping the industry outlook. As of May 2022, India had a total thermal installed capacity of 236.1 GW, with coal accounting for 58.6% of thermal power and the remaining sources being lignite, diesel, and gas, which will further drive the market growth.
• Moreover, the market is driven by significant innovation to inspect internal channels of damaged items. For instance, in August 2021, Healthmark Industries introduced the FIS-007 to its ProSys Optical Inspection product line. It is a borescope with enhanced light, vision, and magnification used to visually investigate the internal channels of potentially contaminated or damaged things. It also allows users to capture and video the lumens and crevices that are not visible to the naked eye.
• Borescope reduces repair time and cost due to easy inspection without dismantling machinery parts. The growing development of optical technologies promotes the growth of the borescope market. In addition, the use of video borescopes is increasing due to their real-time inspection of engines and parts of mufflers and cylinders, which contributes to the growth of the market.
• However, the lack of reasonable lighting conditions restrains the growth of the borescope market. Moreover, using borescopes in surface vision creates novel opportunities for developing the market studied.
• With the outbreak of COVID-19, the demand and growth of the borescope market were hindered due to factory shutdowns across end-user industries globally. However, with the resurgence, the need for the borescope is expected to rise as they provide accurate observation at the manufacturing and production line to get the overall view of the parts and components in machines and equipment.

Borescope Market Trends

This section covers the major market trends shaping the Borescope Market according to our research experts:

Automotive Industry to Exhibit High Growth

Borescope Industry Segmentation

The borescope is an electrical, optical gear enabled with a display, its structural form comprises the flexible or non-flexible tube connecting a camera on the verge of a hollow tube and a visual display on the other. basically, It is a device used for monitoring the interiors of a structure. Borescope helps in the surveillance of aircraft engines and industrial gas turbines, especially gas turbines, fuel systems, and steam turbines, owing to their high safety measures.

The studied market is segmented by type, such as video, flexible, endoscopes, semi-rigid, and rigid with different diameters such as 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10 mm in different angles such as 0° to 90°, 90° to 180°, and 180° to 360°, among various end-user industries such as automotive, aviation, power generation, oil and gas, manufacturing, chemical, food and beverages, pharmaceuticals, mining, and construction, in multiple geographies. The impact of Covid-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption of the factors impacting the market's growth in the near future has been covered in the study regarding drivers and restraints.
The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.