The video inspection equipment market in expected to grow from US$ 344.4million in 2019 to US$ 584.0million by 2027; it is estimated to grow at a CAGR of 7.0% from 2020 to 2027.The presence of huge population in the region has led to a high demand for residential and commercial construction activities. APAC comprises several developing economies such as China and India, along with many Southeast Asian countries, which generate robust demands for infrastructure projects. The rising population of these countries is the main driver for the growth of the construction industry in the region. Further, the governments of various economies in the region are taking several measures to attract private investments in construction and infrastructure development, which is accelerating the demand for deploying sewer systems for better water facilities in the region. The demand for sewer systems would lead to the growth of video inspection equipment market in order to inspect the sewer system. Hence, the above mentioned factors are driving the growth of the video inspection equipment market in APAC.
In terms of end user, the manufacturing & construction segment led the video inspection equipment market in 2019. Underground drainage systems, manholes and vaults, electrical conduits, gas lines, water lines, pipelines, and fire water lines are some of the applications of video inspection tools in the construction industry. The video inspection camera assists in identifying debris and other left-over objects from construction such as welding rods, paper dams, plastic caps on PSVs, gloves, and other PPE. In buildings, the video inspection equipment further assists in identifying damages caused due to climatic and biological influences. A growing number of projects across the region drive the growth of the video inspection equipment market.
The overall Asia Pacific video inspection equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific video inspection equipment market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific video inspection equipment market are Envirosight LLC, CUES, Inc., IBAK Helmut Hunger GmbH & Co. KG, Vivax-Metrotech Corporation, and TechCorr are among a few players operating in the Asia-Pacific video inspection equipment market.