Borescope Market Analysis

Borescope Segmentation

Technology (Videoscope, Semi-Rigid, Fiberscope, Rigid Borescope)

The videoscope segment in the borescope market is estimated to gain the largest revenue share of about 60% in the year 2036. Moreover, the segment garnered a revenue share of around 43% in 2022. The feature of real-time monitoring, images, and videos in high resolution and result with accurate and clear information is the major factor expanding the segment growth. Apart from this, the video scope also offers the option of recording the entire inspection and it has built-in lighting which makes the entire inspection convenient. Furthermore, the rising demand for detailed but non-destructive inspection is driving the segment’s growth.

End User (Oil & Gas, Energy & Power, Automotive, Aerospace, Chemicals, Metallurgical)

The automotive segment is poised to hold 20% share of the global borescope market in 2022 and is further expected to garner a significant share of around 46% in the year 2036. Rising demand for electric vehicles and vehicles with ADAS systems is expected to drive the segment’s growth. In 2021, around 75 million cars on the road were incorporated with ADAS features in the world. Furthermore, over ten million electric vehicles were sold worldwide in 2022, with sales predicted to increase by 35% in 2023 to 14 million. Furthermore, by 2030, the worldwide electric car supply will have grown to about 350 million vehicles. Borescopes are used to inspect the battery compartments and cells in EVs. By inserting the flexible borescope probe into the battery pack, technicians can visually inspect for any signs of damage, corrosion, or abnormalities. This helps in identifying potential issues that could affect battery performance, such as overheating, leaking electrolytes, or physical damage.

Our in-depth analysis of the global borescope market includes the following segments: