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  • Published In : Jan 2024
  • Code : CMI6056
  • Pages :172
  • Formats :
      Excel and PDF
  • Industry : Consumer Electronics

Global video borescopes market is estimated to be valued at US$ 745.6 Mn in 2023, and is expected to reach US$ 1,345.9 Mn by 2030, exhibiting a compound annual growth rate (CAGR) of 8.8% from 2023 to 2030.

Global video borescopes market has experienced significant growth, and has become an essential tool in various industries. Video borescopes are versatile inspection devices that allow users to visually inspect hard-to-reach areas remotely. These consist of a flexible insertion tube with a camera at the tip that captures high-resolution video or images of the inspected area.

The market growth is driven by several factors like industries such as automotive, aviation, and manufacturing require efficient and accurate inspection tools to ensure quality control and maintenance of their equipment. Video borescopes offer real-time visual feedback, enabling professionals to identify potential issues or defects in complex machinery or structures. Advancements in camera technology, such as high-definition imaging and wireless connectivity, have further enhanced the capabilities and usability of video borescopes, leading to their increased adoption across various sectors.

Global Video Borescopes Market- Regional Insights

  • North America: North America is the largest market for video borescopes, accounting for a share of over 38% in 2023. The video borescope market in North America has been prominent due to the presence of key industries like automotive, aerospace, and oil and gas. The region's emphasis on quality control, maintenance, and safety in these sectors has boosted demand for video borescopes. Technological advancements, such as wireless connectivity and improved imaging capabilities, have propelled the market growth in this region.
  • Europe: Europe is the second-largest market for video borescopes, accounting for a share of over 27% in 2023. Europe has also witnessed a significant adoption of video borescopes in industries such as manufacturing, power generation, and infrastructure. The stringent regulations regarding safety standards and the need for efficient inspection tools have contributed to the market growth. Moreover, the region's focus on research and development has led to the introduction of advanced video borescope technologies, further, driving the market growth.
  • Asia Pacific: Asia Pacific is the fastest-growing market for video borescopes, accounting for a share of over 23% in 2023. The video borescope market in Asia Pacific has been growing rapidly due to expanding industrial sectors, particularly in countries like China, India, and Japan. The automotive and manufacturing industries have been major contributors to the market growth in this region. Increasing investments in infrastructure development and power generation projects offers opportunities for the adoption of video borescopes.

Figure 1. Global Video Borescopes Market Share (%), By Region, 2023


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Analyst Viewpoint: Global video borescopes market is expected to witness steady growth due to increasing demand from industries such as automotive, aerospace, industrial manufacturing and power generation. Due to growing importance of inspection activities, more companies are leveraging video borescopes to visually inspect hard-to-reach areas without dismantling equipment or components. North America currently dominates the market followed by Europe due to stringent quality control and safety regulations mandated across industries. However, Asia Pacific is likely to emerge as the fastest growing regional market with growth in China, India and other developing nations.

While development of new advanced non-destructive testing technologies could offer alternatives to video borescopes, their high costs might slow their adoption. Lack of training and skill shortage amongst inspectors is another challenge, restricting wider adoption of visual inspection techniques.

Detecting defects early with video borescope solutions offers users a strong incentive to invest, as it minimizes equipment downtime and associated costs. As product sizes shrink and wireless choices evolve, the range of inspection areas could broaden, enhancing the appeal even more. Rising adoption rates in emerging verticals such as railway and oil & gas also present new opportunities over the forecast period.

Global Video Borescopes Market- Drivers

  • Industrial Inspection and Maintenance: Video borescopes play a crucial role in industrial inspection and maintenance activities. Industries such as automotive, aviation, manufacturing, and energy require efficient tools to inspect and maintain equipment, machinery, and structures. Video borescopes provide real-time visual feedback, allowing professionals to identify issues, defects, or potential hazards in hard-to-reach areas. The need for quality control, safety compliance, and preventive maintenance boosts demand for video borescopes in these industries.
  • Increasing demand from end-use industries like automotive and aerospace: The demand from key end-use industries like automotive and aerospace is a major factor driving growth of the video borescopes market. These industries are increasingly relying on video borescopes for inspection and maintenance applications.

The aerospace sector has witnessed steady growth over the past few years due to increasing air passenger traffic and cargo movements globally. According to data by World Trade Organization, the world air freight increased by 1.1% in 2021. Airlines and aircraft manufacturers are under constant pressure to ensure safety and minimize aircraft downtime through effective maintenance practices. Video borescopes have emerged as crucial tools for inspecting both the exterior and interior of aircraft engines and assemblies. Their ability to access confined spaces and provide visuals has made these indispensable for detecting flaws in narrow cavities.

The automotive industry has also been growing steadily due to rising vehicle production and sales worldwide. According to the statistics by International Organization of Motor Vehicle Manufacturers, over 93 million vehicles were produced globally in 2021. For automakers, quality control and reducing recalls are top priorities. Video borescopes help to inspect difficult to reach areas inside the engine, transmission, braking systems and other components for defects. Their portable design allows easy inspection of vehicles on the assembly line as well as during routine servicing.

Global Video Borescopes Market- Opportunities

  • Emerging Industries and Applications: As new industries and applications emerge, there is an increasing need for advanced inspection tools like video borescopes. For example, sectors such as renewable energy, including wind turbines and solar panel installations, present opportunities for video borescope usage in maintenance and troubleshooting. Other emerging fields, such as 3D printing and robotics, may require specialized video borescopes for quality control and internal inspection. By tapping into these emerging industries, video borescope manufacturers can expand their market reach and revenue potential.
  • Growing demand from emerging economies: The emerging economies around the world represent a major growth opportunity for video borescopes market due to rising disposable incomes and increasing investments in industrial sectors. Countries like China, India, Brazil, Indonesia and others have seen tremendous economic development over the past few decades which has lifted hundreds of millions out of poverty. According to the World Bank data, around six countries including China and India are expected to contribute over 50% of global GDP growth between 2020-2023.

This high economic activity has fuelled the need for inspection and maintenance across various industries like automotive, aerospace, manufacturing, oil & gas and power generation. Emerging nations are significantly ramping up their infrastructure spending to meet the demands of a growing middle class population. For example, according to World Economic Forum, India's national infrastructure pipeline envisions an investment of US$ 1.5 trillion by 2025 in projects across various sectors.

Video Borescopes Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 745.6 Mn
Historical Data for: 2018 to 2021 Forecast Period: 2023 - 2030
Forecast Period 2023 to 2030 CAGR: 8.8% 2030 Value Projection: US$ 1,345.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, Israel,  South Africa, North Africa, and Central Africa and Rest of Middle East
Segments covered:
  • By Type: Rigid Video Borescopes and Flexible Video Borescopes
  • By Diameter: 0 to 5mm, 5mm to 10mm, and Above 10mm
  • By Application: Automotive, Aerospace, Manufacturing, Power Generation, Oil and Gas, Healthcare, Infrastructure, and Others
  • By Price: Low, Medium, and High
Companies covered:

Olympus Corporation, GE Inspection Technologies (now part of Baker Hughes), Karl Storz GmbH & Co. KG, SKF Group, FLIR Systems Inc., Yateks Corporation, PCE Instruments, Vizaar Industrial Imaging AG, VJ Technologies Inc., Gradient Lens Corporation, Medit Inc., RF System Lab (now owned by Olympus Corporation), Coantec Automation Technology Co. Ltd., IT Concepts GmbH

Growth Drivers:
  • Increasing demand from end-use industries like automotive and aerospace 
  • Safety and Compliance Requirements
Restraints & Challenges:
  • Problems associated with complex inspection processes 
  • Limited Accessibility in Complex Environments

Global Video Borescopes Market- Trends

  • Growth of non-destructive testing applications: Increasing demand and applications of non-destructive testing methods has notable influence on the development of the video borescopes market. Non-destructive testing allows for effective inspection of materials, components and assemblies without causing damage. It detect internal flaws or defects and assess integrity without hampering the future usefulness of the item tested. This led to wider adoption of non-destructive techniques across many industries including aerospace, oil and gas, manufacturing, automotive, and others . for applications like jet engine inspection, pipeline surveys, quality control checks of machinery parts and condition monitoring of critical vehicle components. For example, according to data published by the Federal Aviation Administration (FAA), the aerospace industry conducted over 10 million NDT tests in 2021 to meet stringent quality and safety regulations. According to statistics by the Petroleum Safety Authority Norway, oil companies performed around 30,000 kms of pipeline scans in 2022 to ensure operational safety of natural gas pipelines.
  • Integration of Advanced Features: Video borescopes are increasingly being integrated with advanced features to enhance their functionality and usability. Some examples include built-in LED lighting for improved illumination in dark or dimly lit environments, articulated or flexible insertion tubes for better maneuverability, and image and video capture capabilities for documentation and analysis. The integration of these features provides users with enhanced inspection capabilities and a better overall experience.

Global Video Borescopes Market- Restraints

  • Problems associated with complex inspection processes: Inspecting intricate systems and machinery using video borescopes requires thorough training and expertise in operating the equipment as well as understanding the construction and working of the systems being inspected. This makes it challenging for companies to upskill their workforce to efficiently conduct inspections. Companies have to dedicate considerable time and resources to train inspectors which impacts their return on investment. The inspection quality can also vary depending on the skills and experience of the inspector. This leads to inconsistencies and adds an element of subjective analysis of defects.

Moreover, preparing the equipment or areas for internal inspection and setting up of video borescopes is a time intensive process. inserted through small openings or barriers without damaging the equipment. Special provisions have to be made to secure cameras and ensure desired positioning, lighting and focus for quality visuals. All these activities hamper workflow and extend downtime of critical systems undergoing inspection. According to UNIDO Industrial Statistics Database, the average downtime costs for major industrial equipment in developing countries was estimated between US$ 3,000 to US$ 8,000 per hour in 2021. Longer inspection durations significantly increase these costs.

Global Video Borescopes Market- Recent Developments

New Product Launches

  • Olympus launched the Exera III video borescope system in 2022. This system features a high-resolution camera with a 300-degree field of view, as well as a number of other features that make it ideal for industrial inspection.
  • Karl Storz launched the CLV-290 video borescope in 2022. This device features a long working distance, making it ideal for inspecting difficult-to-reach areas.

Figure 2. Global Video Borescopes Market Share (%), By Type, 2023


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Top companies in Global Video Borescopes Market

  • Olympus Corporation
  • Karl Storz GmbH & Co. KG
  • SKF Group
  • FLIR Systems, Inc.
  • Yateks Corporation
  • PCE Instruments
  • Vizaar Industrial Imaging AG
  • VJ Technologies, Inc.
  • Gradient Lens Corporation
  • Medit Inc.
  • RF System Lab
  • IT Concepts GmbH

Definition: Video borescopes are advanced inspection devices that consist of a flexible insertion tube with a camera at the tip, allowing users to visually examine and record high-resolution video or images of hard-to-reach areas. These are widely used across various industries for inspection, maintenance, and quality control purposes, providing real-time visual feedback and enabling professionals to identify defects, anomalies, or potential hazards in complex equipment or structures.

Frequently Asked Questions

High cost, problems associated with complex inspection processes, limited accessibility in complex environments, and learning curve and skill requirements are hampering the growth of the global video borescopes market.

The major factors driving the global video borescopes market growth are increasing industrial inspection and maintenance needs, technological advancements, cost and time efficiency, and safety compliance requirements.

The leading component segment in the global video borescopes market is the camera or imaging system, which captures high-resolution video or images during inspections.

Major players operating in the global video borescopes market include Karl Storz GmbH & Co. KG, SKF Group, FLIR Systems, Inc., Yateks Corporation, PCE Instruments, Vizaar Industrial Imaging AG, VJ Technologies, Inc., Gradient Lens Corporation, Medit Inc., RF System Lab (now owned by Olympus Corporation), and IT Concepts GmbH

North America has been a leading region in the global video borescopes market, followed by Europe and the Asia Pacific.

The projected compound annual growth rate (CAGR) of the global video borescopes market is 8.8% from 2023 to 2030.

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