New York, Oct. 02, 2023 (GLOBE NEWSWIRE) — The global borescope market size is predicted to expand at ~4% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 1 Billion by the end of 2035, up from a revenue of ~USD 700 Million in the year 2022. The global borescope market is expected to develop significantly due to inadequately operated and maintained equipment and infrastructure, which can result in enormous losses due to machine downtime and premature deterioration of infrastructure parts. The growing cost of pre-corrosion equipment is growing the demand for borescopes to inspect the equipment thoroughly. Borescopes are especially helpful for looking inside equipment or structures that have limited direct access. Around 3.3. million hours of work and about USD 1 trillion is lost every year by Fortune Global 500 industrial and manufacturing companies solely due to unplanned downtime of equipment and machines. It has an impact of USD 864 billion to the world’s economy.Rising Investment in Renewable Energy Power Plants is to Boost the Growth of the Borescope Market
(GlobeNewsWire)