Press release
Corrosion Monitoring Market expected to witness a significant growth rate of 11.23% by 2029.
According to the latest research report published by Market Data Forecast, the global corrosion monitoring market is driving forward at a CAGR of 11.23%. The market size is estimated to be worth USD 610 million by 2029 from USD 322 million in 2023.
The reason behind this growth is the rising need for asset security combined with a strict focus on legal compliance and extensive application of corrosion monitoring technologies around the world.
Global Corrosion Monitoring Market Report Scope:
• Market Size (2029): USD 610 Million
• Market Size (2023): USD 322 Million
• CAGR (2024 to 2029): 11.23%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Type, Technique, End-use, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Permasense Emerson (US), Alabama Specialty Products (US), SGS SA (Switzerland), Aquarius Technologies (India), Cosasco (US), Circle-Aire (Canada), Corrpro Companies Inc (US), Honeywell (US), GE Rightrax (US), ClampOn (Norway), Sensorlink AS (Norway), BAC Corrosion Control (UK), Applied Corrosion Monitoring (UK), ICORR Technologies (US), and Others.
Market Drivers:
The corrosion monitoring market is propelled by the swift expansion of user industries and the growing cognizance of rust surveillance techniques. Moreover, stringent government rules for workplace security will continue the market expansion in the forecast period. In addition, corrosion of old machinery and infrastructure in long-running industries is also fuelling the corrosion monitoring market. These are widely applied in the oil and gas industry for downstream operations and activities. The accelerating demand for corrosion monitoring in refineries targets to reduce the dangers of pipeline breakdowns and leakage in storage tanks or other facilities. The market is strengthened by early rust discovery, evaluating wall thickness loss and also certifying corrosion management effectiveness and expanding the service life of systems.
Furthermore, the exponential growth in the chemical, power and energy sectors has led to the rapid utilisation of corrosion monitoring techniques are providing lucrative opportunities for the market providers in the coming years.
Market Restraints:
The high amount of investment is needed to install systems and equipment and commence tracking which is significantly hindering the corrosion monitoring market growth. Another factor restricting the market expansion is the difficulty in exploration, drilling and extraction activities in the oil and gas industry.
Small and medium enterprises struggle to acquire and accept due the low budgets and expensive products restrict the wide application of corrosion monitoring solutions. Thus, the market expansion is hindered by limited placement and less measuring points. Further, the industry development is also obstructed by the considerable support and repair expenses.
Furthermore, the lack of trained employees is another factor decreasing the corrosion monitoring market. This makes their application and maintenance tougher in the workplace. The scarcity of proficient workforce especially after COVID-19 has made the hiring process of skilled candidate sluggish and costly. For instance, Indian market is facing challenges due to the lack of awareness and significance of corrosion monitoring among population and companies.
Browse full details of the report @ https://www.marketdataforecast.com/market-reports/corrosion-monitoring-market
Key Insights from The Report:
• Based on type, the non-intrusive segment led the market and accounted for the largest share of the global market in 2023.
• Based on technique, the ultrasonic thickness measurement segment captured the highest share of the global market in 2023.
• Based on end-use, the oil & gas segment dominated the market in 2023.
• Asia-Pacific dominated the corrosion monitoring market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Middle East & Africa region is estimated to grow at the fastest CAGR during the forecast period.
SEGMENTATION INCLUDED IN THIS REPORT:
By Type:
• Intrusive
• Non-Intrusive
By Technique:
• Corrosion Coupons
• Electrical Resistance
• Linear Polarization Resistance
• Galvanic
• Ultrasonic Thickness Measurement
By End-use
• Oil & Gas
• Chemical
• Manufacturing
• Others
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
TABLE OF CONTENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Corrosion Monitoring Market By, Type
5.1.1 Introduction
5.1.2 Intrusive
5.1.3 Non- Intrusive
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Corrosion Monitoring Market By, Technique
5.2.1 Introduction
5.2.2 Corrosion Coupons
5.2.3 Electrical resistance
5.2.4 CLinear Polarization Resistance
5.2.5 Galvanic
5.2.6 Ultrasonic Thickness Measurement
5.2.7 Y-o-Y Growth Analysis, By Technique
5.2.8 Market Attractiveness Analysis, By Technique
5.2.9 Market Share Analysis, By Technique
5.3 Corrosion Monitoring Market By, End-Use Industry
5.3.1 Introduction
5.3.2 Oil & Gas
5.3.3 Chemical
5.3.4 Manufacturing
5.3.5 Others
5.3.6 Y-o-Y Growth Analysis, By End-Use Industry
5.3.7 Market Attractiveness Analysis, By End-Use Industry
5.3.8 Market Share Analysis, By End-Use Industry
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Technique
6.1.3.4 By End-Use Industry
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Technique
6.1.4.4 By End-Use Industry
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Technique
6.1.5.4 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Korosi Specindo
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Permasense Emerson
8.3 SGS SA
8.4 Cosasco
8.5 Corrpro Companies Inc
8.6 GE Rightrax
8.7Sensorlink AS
8.8 BAC Corrosion Control
8.9 ICORR Technologies
8.10 Rysco Corrosion Services
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
ABOUT US:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
MarketDataForecast
www.marketdataforecast.com
Phone: +1-888-702-9626
Email: sales@marketdataforecast.com
3rd Floor, Trendz Park Building, Jain Rock Garden Rd, Vittal Rao Nagar, Madhapur, Hyderabad, Telangana, India.
The reason behind this growth is the rising need for asset security combined with a strict focus on legal compliance and extensive application of corrosion monitoring technologies around the world.
Global Corrosion Monitoring Market Report Scope:
• Market Size (2029): USD 610 Million
• Market Size (2023): USD 322 Million
• CAGR (2024 to 2029): 11.23%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Type, Technique, End-use, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Permasense Emerson (US), Alabama Specialty Products (US), SGS SA (Switzerland), Aquarius Technologies (India), Cosasco (US), Circle-Aire (Canada), Corrpro Companies Inc (US), Honeywell (US), GE Rightrax (US), ClampOn (Norway), Sensorlink AS (Norway), BAC Corrosion Control (UK), Applied Corrosion Monitoring (UK), ICORR Technologies (US), and Others.
Market Drivers:
The corrosion monitoring market is propelled by the swift expansion of user industries and the growing cognizance of rust surveillance techniques. Moreover, stringent government rules for workplace security will continue the market expansion in the forecast period. In addition, corrosion of old machinery and infrastructure in long-running industries is also fuelling the corrosion monitoring market. These are widely applied in the oil and gas industry for downstream operations and activities. The accelerating demand for corrosion monitoring in refineries targets to reduce the dangers of pipeline breakdowns and leakage in storage tanks or other facilities. The market is strengthened by early rust discovery, evaluating wall thickness loss and also certifying corrosion management effectiveness and expanding the service life of systems.
Furthermore, the exponential growth in the chemical, power and energy sectors has led to the rapid utilisation of corrosion monitoring techniques are providing lucrative opportunities for the market providers in the coming years.
Market Restraints:
The high amount of investment is needed to install systems and equipment and commence tracking which is significantly hindering the corrosion monitoring market growth. Another factor restricting the market expansion is the difficulty in exploration, drilling and extraction activities in the oil and gas industry.
Small and medium enterprises struggle to acquire and accept due the low budgets and expensive products restrict the wide application of corrosion monitoring solutions. Thus, the market expansion is hindered by limited placement and less measuring points. Further, the industry development is also obstructed by the considerable support and repair expenses.
Furthermore, the lack of trained employees is another factor decreasing the corrosion monitoring market. This makes their application and maintenance tougher in the workplace. The scarcity of proficient workforce especially after COVID-19 has made the hiring process of skilled candidate sluggish and costly. For instance, Indian market is facing challenges due to the lack of awareness and significance of corrosion monitoring among population and companies.
Browse full details of the report @ https://www.marketdataforecast.com/market-reports/corrosion-monitoring-market
Key Insights from The Report:
• Based on type, the non-intrusive segment led the market and accounted for the largest share of the global market in 2023.
• Based on technique, the ultrasonic thickness measurement segment captured the highest share of the global market in 2023.
• Based on end-use, the oil & gas segment dominated the market in 2023.
• Asia-Pacific dominated the corrosion monitoring market in 2023. North America accounted for the second-highest share of the global market in 2023 and on the other hand, the Middle East & Africa region is estimated to grow at the fastest CAGR during the forecast period.
SEGMENTATION INCLUDED IN THIS REPORT:
By Type:
• Intrusive
• Non-Intrusive
By Technique:
• Corrosion Coupons
• Electrical Resistance
• Linear Polarization Resistance
• Galvanic
• Ultrasonic Thickness Measurement
By End-use
• Oil & Gas
• Chemical
• Manufacturing
• Others
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
TABLE OF CONTENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Corrosion Monitoring Market By, Type
5.1.1 Introduction
5.1.2 Intrusive
5.1.3 Non- Intrusive
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Corrosion Monitoring Market By, Technique
5.2.1 Introduction
5.2.2 Corrosion Coupons
5.2.3 Electrical resistance
5.2.4 CLinear Polarization Resistance
5.2.5 Galvanic
5.2.6 Ultrasonic Thickness Measurement
5.2.7 Y-o-Y Growth Analysis, By Technique
5.2.8 Market Attractiveness Analysis, By Technique
5.2.9 Market Share Analysis, By Technique
5.3 Corrosion Monitoring Market By, End-Use Industry
5.3.1 Introduction
5.3.2 Oil & Gas
5.3.3 Chemical
5.3.4 Manufacturing
5.3.5 Others
5.3.6 Y-o-Y Growth Analysis, By End-Use Industry
5.3.7 Market Attractiveness Analysis, By End-Use Industry
5.3.8 Market Share Analysis, By End-Use Industry
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Technique
6.1.3.4 By End-Use Industry
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Technique
6.1.4.4 By End-Use Industry
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Technique
6.1.5.4 By End-Use Industry
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Korosi Specindo
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Permasense Emerson
8.3 SGS SA
8.4 Cosasco
8.5 Corrpro Companies Inc
8.6 GE Rightrax
8.7Sensorlink AS
8.8 BAC Corrosion Control
8.9 ICORR Technologies
8.10 Rysco Corrosion Services
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
ABOUT US:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
MarketDataForecast
www.marketdataforecast.com
Phone: +1-888-702-9626
Email: sales@marketdataforecast.com
3rd Floor, Trendz Park Building, Jain Rock Garden Rd, Vittal Rao Nagar, Madhapur, Hyderabad, Telangana, India.
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