Video Inspection Equipment Market Size ($ 1,834.35 Million by 2028) Growth Forecast at 4.9% CAGR from 2021 to 2028 COVID Impact and Global Analysis by The Insight Partners

NEW YORK, November 8, 2021 / PRNewswire / – According to The Insight Partners study on “Video Inspection Equipment Market Forecast until 2028 – COVID-19 impact and global analysis – by component, application and end user “, the market has been evaluated at US $ 1,311.63 million in 2021 and should reach US $ 1,834.35 million by 2028; it is expected to grow at a CAGR of 4.9% from 2021 to 2028.

Increased investment in drainage systems and sewer pipes and growing number of construction projects in several developing countries are driving the growth of video inspection equipment market. It is believed that the rapidly evolving technological integration in video inspection equipment has reduced inspection costs at various drainage sites. Given the increasing industrialization in developing countries of South America, the strict standards and regulations enforced by the respective government authorities regarding cleanliness and improving sewer inspection standards are the key factors that are expected to drive the growth of this market during 2021-2028. The number of sewer operations around the world is increasing at an exponential rate. To ensure the uninterrupted operation of drainage systems and sewer lines in industrial, commercial and residential sectors, timely maintenance and cleaning services are required. Local government authorities in developed countries, such as the United States, are investing heavily in remediation work. The United States Department of Agriculture (USDA) administers various water and waste disposal programs, which provide grants and loans for sanitary sewer, drinking water and storm drainage facilities. in rural communities. Eligibility for these programs is limited to rural communities with a population of 10,000 or less for direct loans and grants and 50,000 or less for guaranteed loans.

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In 2018, Irish water invested approx. 263.072 million euros in their sanitation infrastructure program to improve ireland sanitation infrastructure. However, according to the Environmental Protection Agency (EPA), due to underinvestment, treatment plants and public sewers are lacking in development. These factors increase the use of advanced drainage services, mainly video inspection equipment. The growing demand for remote control inspection systems is propelling the demand for cameras in the manufacturing and construction industry. Various localities and municipalities are using inspection cameras to improve monitoring of obstructions or blockages, increasing the penetration rate of video inspection equipment in manufacturing industry across the world.

North America is the largest region in the world due to the increasing demand for video inspection equipment. United States, Canada, and Mexico invest heavily to integrate advanced technologies in various industries. In this region, manufacturing and construction, homeland security, and oil and gas are some of the industries that widely deploy various types of video inspection equipment. For example, in the manufacturing and construction industry, municipalities in the region are taking active steps to improve the inspection of sewage systems. The oil and gas industry in North America reports substantial growth due to continued government investments and increasing emphasis on the implementation of advanced technologies, resulting in increased drilling of wells. In this industry, the safety of workers is a crucial factor due to the high risk conditions in which they work. There is a high chance of vehicle accidents when inspecting pipelines or traveling to oil and gas sites. With the immense technological growth of the region, new products are continuously launched according to the changing consumer demand. These products are intended for specific problems. Several companies can save time and money by providing video inspection equipment optimized for efficient use in the field.

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Increase in manufacturing and construction projects

Considerable growth in construction projects in the residential, commercial and industrial sectors contributes remarkably to the uptake of drainage services. Video inspection tools are widely used to pinpoint the exact locations of clogs before purchasing land or industrial property. In a constantly changing world, the profession of municipal engineer has become more complex, with increasing complexity of rules and regulations, covering the underground environment. Therefore, municipal contractors and technicians should ensure that the full investigation into underground infrastructure is carried out before undertaking any other activity. Video inspection tools, including carriers, cameras, and recorders, are used in municipal verticals for inspection purposes. Considering the portability, ruggedness, reliability and light weight of video inspection equipment tools, these are widely needed in the manufacturing and construction industry. The growing demand for remote control inspection systems is a factor driving the demand for cameras in the manufacturing and construction industry. Various localities and municipalities are using inspection cameras to improve surveillance of obstructions or blockages, propelling the penetration rate of video inspection equipment in manufacturing industry around the world.

Video Inspection Equipment Market: Application Overview

Based on the applications, the video inspection equipment market is segmented into drains and sewers, electrical conduits and conduits, pipeline, and others. Increasing investments in sewer pipes and drainage systems and increasing construction projects across the world are some of the key factors for the growth of the market. In addition, municipalities around the world are taking proactive measures, such as inspecting and cleaning the sewer and pipeline network, to improve the performance of their systems, which will drive the growth of the market.

Video Inspection Equipment Market: Competitive Landscape and Key Developments

Aries Industries, Inc .; CUES Inc. (SPX Corporation); Sub-site electronics; Vivax-Metrotech Corp; Rausch Electronics United States, LLC; Envirosight LLC; Hathorn Company; IBAK Helmut Hunger GmbH & Co. KG; CDS Company; and Extech (Flir Systems Inc.) are among the major players presented in this market research. In addition, several other key market players have been studied and analyzed to get a holistic view of the Global Video Inspection Equipment market and its ecosystem.

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In October 2021, Rausch Electronics United States, LLC has added Frontier Equipment Sales to its family of authorized dealers.

In January 2021, IBAK Helmut Hunger GmbH & Co. KG announced that it is working on software to alleviate the inspector’s workload when entering inspection data.

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