Market Introduction
Apart from being expensive and time-consuming inspection of confined areas can sometimes also involve life risk. The market for inspection drone for confined space therefore is going to prosper since inspection drone for confined space are used to inspect such hard-to-areas confined areas is gaining immense traction in diverse applications. Also, various benefits are offered to the users with help of inspection drone for confined space by enabling them to add advanced features, such as the installation of IR cameras, which provides advanced visual and data analytics capability which is further driving the inspection drone for confined space market in Europe. The actual status of the asset and maintenance need of any organization can also be evaluated through this. Inspection drone for confined space market is anticipated to become prominent in various inspection applications that meet the 4D criteria: Dirty, Dust, Distant, and Dull. With rising cost pressure among industrial service companies as well as asset operators, inspection leveraging drones optimize time and cost savings enhance quality and performance, thus helping companies in inspection drone for confined space market secure a competitive edge . The market for Inspection drone for confined space are proving to be pocket friendly and since their maintenance expenses are also low, thus this is expected to create a significant demand for inspection drone for confined space market in the coming years, which is further anticipated to drive the Europe inspection drone for confined space market.
Furthermore, in case of COVID-19, several countries in Europe are expected to suffer an economic hit due to a lack of revenue from various industries including the inspection drone for confined space market. Many of these member states have implemented drastic measures such as restrictions on travel, imports & exports, and shipment of goods. This is anticipated to impact inspection drone for confined space market growth in Europe. The impact of COVID-19 varied from country to country across the European region as selected countries witnessed a surge in the number of confirmed cases and subsequently led to strict as well as more extended lockdown period or social isolation resulting in disruption of business. For instance, in countries such as Italy and Spain the inspection based services demand decreased significantly owing to a notable number of positive cases across the country, thus leading to slow movement of goods or service offering which is again negatively impacting inspection drone for confined space market. However, western European countries, such as Germany, France, and the UK, due to robust healthcare infrastructure have witnessed a comparatively moderate decline in their demand for drone inspection based services as the manufacturing and energy & power sector witnessed little impact over the pandemic thus negatively impacting the Europe inspection drone for confined space market. The lockdown is expected to continue negatively impacting the inspection drone for confined space market and virtually disrupt the inspection drone for confined space market growth across selected countries during the coming few months and potentially the next few years. The inspection drone for confined space market expected to flourish after the 2021.
Market Overview and Dynamics
The inspection drone for confined space market in Europe is expected to grow from US$ 217.19 million in 2019 to US$ 542.17 million by 2027; it is estimated to grow at a CAGR of 12.4% from 2020 to 2027. The use of inspection drones for commercial applications is noticing a growth in several end-use industries such as oil and gas, chemicals, and construction, among others. However, these inspection drone for confined space use is demanding added functionalities for diverse applications beyond aerial photography, surveillance, and asset inspections thus diversifying the overall inspection drone for confined space market in Europe. At present, a range of GPS technology, thermal cameras, and scanners are offered as common features for advanced inspections. With further technological advancements, extensive R&D investments are expected from stakeholders to sustain in the inspection drone for confined space market. Constant investments in R&D are expected to create new applications for inspection drones for confined space market. For instance, in 2019, Flyability announced a new generation of its inspection drone for confined spaces, Elios 2. The new product has added features such as collision-tolerance, unobstructed 4K camera, and oblique lighting mode. The drone is capable of operating in dark, dusty, and troubled airflowsand. All these new developments in Research ultimately drives the demand of inspection drone for confined space market in Europe.
Key Market Segments
In terms of drone type, the quadrotor drone segment accounted for the largest share of the Europe inspection drone for confined space market in 2019. Further based on application, the oil and gas segment held a larger market share of the Europe inspection drone for confined space market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the inspection drone for confined space market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are DRONE VOLT; Flyability SA; Imaze Tech Ltd; Multinov; Scout Drone Inspection AS.
Reasons to buy report
Europe Inspection Drone for Confined Space Market Segmentation
Inspection Drone for Confined Space Market - By Drone Type
Inspection Drone for Confined Space Market - By Application
Inspection Drone for Confined Space Market - By Country
Inspection Drone for Confined Space Market - Company Profiles.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 217.19 Million |
| Market Size by 2027 | US$ 542.17 Million |
| CAGR (2020 - 2027) | 12.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Drone Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Inspection Drone for Confined Space Market is valued at US$ 217.19 Million in 2019, it is projected to reach US$ 542.17 Million by 2027.
As per our report Europe Inspection Drone for Confined Space Market, the market size is valued at US$ 217.19 Million in 2019, projecting it to reach US$ 542.17 Million by 2027. This translates to a CAGR of approximately 12.4% during the forecast period.
The Europe Inspection Drone for Confined Space Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Inspection Drone for Confined Space Market report:
The Europe Inspection Drone for Confined Space Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Inspection Drone for Confined Space Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Inspection Drone for Confined Space Market value chain can benefit from the information contained in a comprehensive market report.
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