According to a new market research report published by Credence Research “Crawler Camera Systems Market (By Application (Drain Inspection, Pipeline Inspection and Tank, Void, Cavity or Conduit Inspection), By End-Use (Industrial, Municipal, Residential, Commercial)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall crawler camera systems worldwide is set to grow with 6.70% CAGR during the forecast period.
Crawler camera system is regarded as future of pipeline inspection system and is characterized by efficient, accurate and cost-effective functionality based on consumer needs. Crawler camera systems are majorly used for sewer inspection; concisely, growing demand for sewer inspection systems is driving growth of crawler camera systems worldwide. Global sewer inspection camera systems market is growing with a CAGR of more than 10% worldwide, consequently, we are expecting robust growth in crawler camera systems market.
Crawler camera systems are advanced & portable inspection systems and are built to endure punitive environments. These systems are technologically advanced to deliver data reporting and crystal-clear images. Crawler camera systems are being used in different types of industries such as oil refineries, gas distribution network, food & beverages and others. Rising industrialization and technological advancement in inspection systems are the major growth drivers for the crawler camera systems market. On account of all these factors, we are expecting high growth in the crawler camera systems market during the forecast period.
Based on end-use, municipal segment is the leader in crawler camera systems market with more than 40% of the market share worldwide. Crawler camera systems are being used in municipalities due to its valuable features such as lightweight, portability, robustness and reliability. Crawler camera systems can reach remote sites includes constrained pipes, flood drains, inner part of water sewers and large offsets. To enhance the security levels and control the error percentage at the time of inspection, numerous municipalities are using crawler camera systems. As a result of aforementioned aspects, municipal segment will continue leading the crawler camera systems market throughout the forecast period.
Based on the geography, in 2018, North America was the leader in crawler camera systems market with more than 40% of the market share followed by Europe. Augmented investment in revolutionizing infrastructure, swift acceptance of technologies and rapid rise in number of smart cities, are the major growth drivers in the region. Europe is the second-largest market for crawler camera systems due to transforming infrastructure in the region. Hefty funding for infrastructural growth in the Asia Pacific countries such as China and India are leading the demand for crawler camera systems in the region. On account of these factors, we are expecting high growth in crawler camera systems market in the North America region during the forecast period.
Major market players are focusing on strategies such as brand enhancement and mergers & acquisitions to improve their market position. For instance, in April 2018, a subsidiary of SPX Corporation merged with Cues, Inc. parent company, ELXCI Corporation. This merger will benefit SPX Corporation to add highly complementary solutions to their Radiodetection business and provide diversified portfolio for detection & measurement segment. Brand enhancement, mergers & acquisitions and new product launch is expected to remain key strategy in the market in years to come.
Some of the major companies profiled in the report include SPX Corporation (Cues, Inc.), Deep Trekker Inc., Inuktun Services Ltd., AM Industrial (UK) Ltd., iPEK International GmbH, Mini-Cam Ltd, Rausch Electronics USA LLC, Subsite Electronics, INSPECTOR SYSTEMS Rainer Hitzel GmbH and others.
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