crawler camera systems Industry
Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 9.0%.
PORTLAND, OREGON, UNITED STATES, May 23, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "Crawler Camera Systems Market by Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global crawler camera systems market size was valued at $120.2 million in 2018 and is anticipated to reach $191.4 million by 2026 end with a CAGR of 6.3% during the forecast period. The market exhibit incremental revenue opportunity of $71.2 million from 2018-2026. North America & Europe dominated the market in 2019, accounting for 69.5% of the total crawler camera systems market share collectively.
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The increasing incidence of pipeline damages across sewage pipelines, industrial drainage systems had boosted the demand of effective pipeline management. The pipelines inspection activity is mainly conducted to analyze the health of drainage systems, probable cause of blockages, corrosion management and other applications. The crawler cameras systems offers number of benefits to uses during pipeline inspection activity. These benefits include precision based imaging solution, real time monitoring of pipeline network, multi-function assessment through single device etc.
The trend of miniature pipeline inspection is gaining popularity across industrial inspection application. Miniature crawler inspection systems offers flexible options from small diameter pipeline to large network of pipes. These systems are compatible with multiple camera setups, longer tethers, and other images processing software. The versatility of these systems enables the inspection of tanks, small and medium pipes, ships, vessels, boreholes and similar type of spaces where camera inspection is required. The compact sized crawler camera systems are ideal for scheduled or emergency inspections in nuclear stations, petrochemical plants, refineries hydro-electric stations etc.
The crawler camera systems market is segmented on the basis of product type, end user, and region. Based on product type, the Crawler camera systems market is categorized into Camera, Crawler and Others. The camera segment of the report account for highest revenue share in the overall market. The advancement in camera technologies and introduction of novel software platforms to analyze more complicated pipeline network. Furthermore, the manufacturers are introducing compact versions of their existing camera product line which is one of the key factor responsible for adoption of additional camera units among end users. The camera segment was valued at $57.7 million in 2019 and is expected to growth with a CAGR of 5.7% (2019-2026) to reach $191.4 million by 2026 growing at a CAGR of 6.3% during the forecast period. The crawler segment is anticipated to growth at a fastest CAGR owing to increased penetration of pipeline inspection technologies among residential and municipal end users.
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Based on end user, the crawler camera systems market is segmented into residential end users, industrial end users, municipal end users. The industrial end user segment was accounted for revenue $50.2 Mn in 2018 and is expected to reach $77.2 million by 2026. The industrial end user segment comprised on various stakeholder including, nuclear stations, petrochemical plants, refineries hydro-electric stations, chemical plants, automotive and mechanical industries, etc.
Geographically, the global crawler camera systems market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa). North America and Europe regions accounted for 69.5% share in terms of revenue in 2018. These regions have strong adoption of crawler camera systems due to substantial spending on pipeline maintenance compared with other regions. Moreover, the easy availability of auxiliary products and services related to crawler camera maintenance is also responsible for strong adoption of these systems in North America and Europe region.
Key Finding of The Crawler Camera Systems Market:
The camera systems products segment is expected to grow at a CAGR of 5.7% during the forecast period.
North America is anticipated to dominate the crawler camera systems market growth, registering a CAGR of 5.0%.
Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 9.0%.
The industrial end user segment is anticipated to dominate the global crawler camera systems market analysis, with a CAGR of 5.9% during the crawler camera systems forecast period.
The residential end user segment is estimated to grow at a CAGR of 8.4% during the forecast period.
The key players profiled in this crawler camera systems industry report include IBAK, Deep Trekker Inc., Rausch Electronics, Mini-Cam Ltd, CUES Inc., Inspector Systems Rainer Hitzel GmbH, iPEK International GmbH, AM Industrial (UK) Ltd., and Subsite Electronics. Other prominent players analyzed during the course of study are Inuktun Services Ltd., Kummert GmbH, Mini-Cam Ltd., Scanprobe, Spoutvac Industries, Envirosight LLC, Insight Vision Cameras among others.
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