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Video Inspection Equipment Market Size, Industry Growth and Forecast to 2028 | The Insight Partners
Video Inspection Equipment Market
A considerable growth in construction projects across the residential, commercial, and industrial sectors is contributing remarkably toward the adoption of drainage services. The video inspection Equipment tools are widely utilized to locate exact places of clogs before purchasing any industrial land or property. In a constantly changing world, the job of a municipal engineer has become more complex, with intensifying complexity of rules and regulations, covering the underground environment. Hence, contractors and municipal technicians have to ensure that the complete survey in underground infrastructure is conducted before initiating any other activity. The video inspection Equipment tools, including transporters, cameras, and recorders, are used in municipal verticals for inspection purposes. Considering the portability, robustness, reliability, and lightweight of video inspection equipment tools, these are broadly needed across the manufacturing & construction industry. The increasing requirement for remote-operated inspection systems is one factor that stimulates the demand for cameras in the manufacturing & construction industry. Various localities and municipalities are using inspection cameras to improve the monitoring of clogs or blockages, propelling the penetration rate of video inspection equipment within the manufacturing industry worldwide.
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The rapidly advancing technology integration in video inspection equipment Industry Size is believed to have reduced the cost incurred in inspection at various drainage sites. Considering the rising industrialization in the developing countries of South America, stringent norms and regulations enforced by respective government authorities regarding cleanliness and the improvement in inspection standards for sewers are the key factors that are expected to boost the growth of this market over the forecast period of 2021-2028. Moreover, the increasing investments in drainage systems and sewer lines and the rising number of construction projects in several developing countries are driving the video inspection equipment market growth.
The List of Companies - Video inspection equipment market
Aries Industries, Inc.
CUES Inc. (SPX Corporation)
Subsite Electronics
Vivax-Metrotech Corp
Rausch Electronics USA, LLC
Envirosight LLC
Hathorn Corporation
IBAK Helmut Hunger GmbH & Co. KG
CDS Corporation
Extech (Flir Systems Inc.)
The video inspection equipment market Share is segmented on the basis of component, application, end-user, and geography. Based on component, the market size is segmented into cameras, transporters, monitors & recorders, software, and others. In 2021, the cameras segment led the market and accounted for the largest market share. Based on application, the video inspection equipment market is segmented into drain & sewer, electrical conduit & ducts, pipeline, and others. In 2021, the drain & sewer segment led the market and accounted for the largest market share. Based on end-user, the market size is segmented into oil & gas, manufacturing & construction, food & beverages, chemicals & pharmaceuticals, and others. In 2021, the oil & gas segment led the market and accounted for the largest market share. Geographically, the video inspection equipment market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for the significant share in the global market.
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Impact of COVID-19 Pandemic on Video Inspection Equipment Market
According to the latest report of the World Health Organization (WHO), the US, Italy, France, Germany, the UK, Russia, Brazil, Iran, India, and China are among the worst-affected countries due to the COVID-19 pandemic. The pandemic has had a rapid and severe impact on the video inspection equipment manufacturers. The sharp decline in industrial activities with multiple projects on hold and unavailability of labor due to movement restrictions are hindering the growth of the global video inspection equipment market as they are the major supply and demand sources for video inspection equipment. However, the impact of the pandemic is short-term, and the market has resumed its production and shifting toward normalcy from the beginning of 2021.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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