Borescope Market Share

North American Market Forecast

The borescope market in North America is projected to be the largest with a share of about 35%, growing at a notable share during the projected time period. The region’s market growth is primarily driven by the demand for non-destructive inspection in the oil & gas, aerospace, and automobile industry. Furthermore, the rising investment in upgrading the industrial infrastructure is increasing the demand for borescopes in the United States. On July 20, 2021, the President and the bipartisan committee announced an agreement on a rare investment in infrastructure in the country of the United States. The plan includes around USD 550 billion in new federal investment in America's roads and bridges, water infrastructure, durability, internet, and other infrastructure. Moreover, the growth of borescope market in the United States is expected to grow at a CAGR of approximately 6% over the forecast period.

APAC Market Statistics

The Asia Pacific borescope market is estimated to be the second largest, registering a share of about around 28% by the end of 2036. The growing prevalence of wireless connections and higher adoption of autonomous heavy equipment is to boost infrastructural development, which is likely to augment the industry expansion in the region. More than 700 million Indians, accounting for 75% of both rural and urban adult populations, became users of mobile and fixed broadband services, over the last 10 years. Furthermore, at the moment, around 20% of China's 7,600 rice-processing factories have been partially automated.