from 2020 to 2025. The crawler camera system market is projected to reach USD 353 million by 2025 from USD 145 million in 2019; it is projected to grow at a CAGR of 14. 5% during the forecast period.
New York, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Crawler Camera System Market by Component, Application, Vertical And Region - Global Forecast to 2025" - https://www.reportlinker.com/p05861917/?utm_source=GNW
The major drivers for the market’s growth are the rising demand from residential and municipal applications, increasing government mandates and regulations for pipeline assessment, growing demand for advanced inspection systems for underwater operations, and growing demand for sewer inspection. The introduction of magnetic crawlers will create growth opportunities for crawler camera system manufacturers. The major restraint for the market is the faster battery drainage of crawler camera systems. The time involved in the data analytics process in crawler camera systems poses a major challenge for this market.
Services to hold largest share of crawler camera system market during forecast period
Some end users prefer to rent crawler camera systems from manufacturers and avail inspection services as per their requirements.Other services included in this segment are maintenance and support services.
End users in developing countries of the APAC region, such as India and China, prefer to rent inspection services rather than buying the systems as the cost of renting services is less compared with buying crawler camera systems. Therefore, the services market in this region is projected to grow at the highest CAGR during the forecast period.
Among all verticals, residential vertical will grow at highest CAGR during forecast period
Crawler camera systems are used in the residential vertical for drain line inspection, sewer inspection, and pipeline inspection.When used for pipeline inspection in residential areas, crawler camera systems provide information about pipe defects, separated pipe joints, leaks, blockages, and other obstacles that are difficult to detect physically by humans.
Furthermore, crawler camera systems can reach inaccessible areas such as large offsets, restricted pipes, protruding pipe tapes, flood drains, and interiors of water sewers.
North America to hold largest share of crawler camera system market during forecast period
In North America, crawler camera systems are majorly used for pipeline inspection, drain and sewer inspection, and tank and cavity inspection.Pipelines are the primary mode of transportation for crude oil, petroleum products, and natural gas in both Canada and the US.
In the US, approximately 70% of crude oil and petroleum products are shipped through pipelines; in Canada, approximately 97% of natural gas and petroleum products are shipped through pipelines.The focus of oil & gas companies, government bodies, and environmental agencies is on preventing oil spills, gas leaks, and other disasters because of the increase in the number of pipelines across the North American countries.
This is compelling oil & gas companies to use crawler camera systems for pipeline inspection.The US Department of Homeland Security (DHS) has set special regulations on pipelines due to their vulnerability to physical threats.
The US Transportation Security Administration (TSA), along with the US Department of Energy (DOE), the Department of Transportation (DOT), and the DHS, frames policies and protection strategies for securing and monitoring pipeline infrastructure.
Breakdown of primary participants’ profile:
• By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
• By Designation: C-Level Executives = 35%, Directors = 30%, and Others = 35%
• By Region: Americas = 40%, Europe = 25%, APAC = 20%, and RoW = 15%
CUES (US), Deep Trekker (Canada), Eddyfi (Canada), Mini-Cam (UK), iPEK International (Germany), ULC Robotics (US), Ratech Electronics (Canada), Envirosight (US), Rausch Electronics USA (US), Insight | Vision (US), RIEZLER (Germany), NDT Technologies (P) Limited (India), Scanprobe (UK), Subsite Electronics (US), and AM Industrial Group (UK) are a few major players in the crawler camera system market.
Component, application, vertical, and geography are the segments covered in this report. The report gives a detailed view of the market across 4 main regions: Americas, Europe, APAC, and RoW.
Reasons to Buy the Report:
• This report includes statistics pertaining to the crawler camera system market in terms of components, applications, verticals, and geographies, along with their respective market sizes.
• Major drivers, restraints, opportunities, and challenges for the crawler camera system market have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast for the crawler camera system market based on its segments and subsegments.
Read the full report: https://www.reportlinker.com/p05861917/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001