Global Video Inspection Equipment Market to 2028 – COVID-19 Impact and Analysis

DUBLIN, Jan 11, 2022 – (BUSINESS WIRE) – The report “Video Inspection Equipment Market Forecast to 2028 – Impact of COVID-19 and Global Analysis” was added to ResearchAndMarkets.com to offer.

Global Video Inspection Equipment Market Expected To Grow From $ 1,311.63 Million In 2021 To $ 1,834.35 Million By 2028; It is estimated that it will grow at a CAGR of 4.9% over the 2021-2028 period.

The offshore and onshore businesses of the oil and gas industry are growing strongly. Inspecting pipelines with camera systems is economical and fast for various industries such as oil & gas. Several companies, such as Visioprobe, offer waterproof industrial inspection cameras for inspecting caissons, pipelines, tanks, and pressure vessels for corrosion. The gas pipeline poses challenges in both metal and plastic pipes where video inspection plays a crucial role. Compliance with standards in the oil and gas industry for pipe inspection stimulates the market growth of video inspection equipment due to activities such as manufacturing services, drilling, reservoir engineering, well maintenance, refining and transportation of petroleum products. All of the above operations require timely pipeline inspection.

Therefore, the entire oil and gas inspection industry works to strict standards and strives for efficient resources. Some of the applications in the oil and gas industry that require video inspection include burners and tips, compressors, pumps, gas lines, blast furnace chimneys, gas and steam turbines, waste heat boiler chimneys, and steam lines.

Maverick Inspection Ltd. offers CSA-certified explosion-proof video inspection equipment for various applications such as turbine blades, exchanger tubes and process troubleshooting. The company also offers industrial drone inspections using collision tolerant drones specially designed for internal inspections.

The Video Inspection Equipment market is segmented on the basis of component, application, end-user, and geography. Based on the components, the market is divided into cameras, vans, monitors and recorders, software, and others. The camera segment made up 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 & Duct, Pipelines, and Others. In 2020, the Drain & Sewer segment had the major market share. Based on the end user, the market is divided into Oil & Gas, Manufacturing & Construction, Food & Beverage, Chemical & Pharmaceutical, and others. The oil and gas segment represented the largest market share in 2020. Geographically, the market is broadly divided into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2020, North America had a significant share of the world market.

The story goes on

Spain, Italy, Germany, UK and France are among the hardest hit member states in Europe due to the COVID-19 outbreak. Companies in the region are facing severe financial difficulties as they have either had to cease operations or significantly reduce their activities. The region is a major manufacturing and industrial center for sectors such as automotive, construction, energy and energy, pharmaceuticals, and food and beverages. Various member states in Europe such as Italy, Spain, France, Great Britain and Germany have introduced drastic measures and travel restrictions to curb the spread of the novel coronavirus among its citizens.

The video inspection equipment market in Europe is experiencing increasing demand and growth due to strict quality and safety regulations from industry and government in various countries. The lockdown has negatively impacted new industrial projects and investments in various European countries, hindering the growth of the video inspection equipment market in that region. In addition, video inspection equipment manufacturers in this region have faced delivery problems due to the interrupted supply of raw materials and electronic components from China.

Reasons to buy

  • Save and reduce the time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Video Surveillance Equipment Market.

  • Highlights key business priorities to help companies realign their business strategies.

  • The key findings and recommendations highlight the key advanced industry trends in the global Video Surveillance Equipment market and enable players along the value chain to develop effective long-term strategies.

  • Developing / changing business expansion plans by taking advantage of significant growth opportunities in both developed and emerging markets.

  • Examine in-depth global market trends and prospects relating to the factors that are driving the market as well as those that are hindering it.

  • Improve the decision-making process by understanding the strategies underpinning commercial interest in relation to customer products, segmentation, pricing, and sales.

Market dynamics

driver

Restrictions

opportunities

Future trends

Mentioned companies

  • Widder Industries, Inc.

  • CUES Inc. (SPX Corporation)

  • Electronics sub-site

  • Vivax-Metrotech Corp.

  • Rausch Electronics USA, LLC

  • Environment GmbH

  • Hathorn Corporation

  • IBAK Helmut Hunger GmbH & Co. KG

  • CDS Corporation

  • Extech (Flir Systems Inc.)

Please visit https://www.researchandmarkets.com/r/fv2y35 for more information on this report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005928/en/

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