Press release
Corrosion Monitoring Market is expected to show growth from 2024 to 2030, reported by Maximize Market Research.
Corrosion Monitoring Market
Corrosion Monitoring Market Overview
Corrosion monitoring evaluates and monitors equipment for signs of corrosion, providing information on corrosion rate in mpy. The program aims to extend asset life, increase safety, and reduce costs. Research in the market evaluates techniques to reduce risk and identifies growth opportunities. Demand is increasing due to awareness of corrosion prevention, advanced technology, and safety focus in sectors like oil & gas, aerospace, marine, and manufacturing. The growing awareness among industries about the potential cost-savings and asset protection benefits associated with effective corrosion management.
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Massive global infrastructure investments are driving demand for corrosion monitoring technologies to ensure assets are long-lasting and safe. Industries are focusing on asset integrity management to prevent breakdowns and reduce operational costs. Advances in corrosion monitoring technology, like sophisticated sensors and data analytics, make detection more efficient. Strict regulatory compliance is crucial to prevent disasters and meet safety standards. Key companies in the market include Emerson Electric Co., Baker Hughes, Honeywell International Inc., SGS SA, Pepperl+Fuchs, Cosasco, Intertek Group plc, and Corrpro Companies, Inc., leading in different segments based on expertise, offerings, and market reach. North America leads the Corrosion Monitoring Market, holding a 55.7% market share in 2023 and expected to maintain its dominance by 2030.
The region's industrialization, especially in Oil and Gas, Petrochemicals, and manufacturing industries, drives the demand for corrosion monitoring technologies. Stricter regulations in the United States and Canada heighten the focus on corrosion monitoring to prevent incidents like pipeline leaks and equipment malfunctions. Significant investments in infrastructure maintenance in North America underscore the need for effective corrosion monitoring solutions to ensure asset integrity and safety standards. In Asia Pacific, the market is rapidly growing, fueled by infrastructure development in countries like China and India, leading to a demand for corrosion monitoring solutions and minimizing losses. Japan and South Korea's strong presence in key industries also contributes to the region's market growth.
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Recent Development:
• In 2020, France's top 5 imports included Machinery, Vehicles, Electrical Machinery & Equipment, Mineral Fuels & Oils, and Pharma Products. The import value of total goods imported by Europe accounted for USD 6.8 billion in 2020, while the export value stood at USD 7.0 billion.
• In 2021, Olympus launched its D.C. series transducers, providing a comprehensive corrosion monitoring solution for tank and pipeline integrity across energy, oil and gas, and mining sectors. These transducers complement ultrasonic inspection procedures and various NDT instruments, enhancing corrosion detection and maintenance efficiency.
• In 2021, Emerson launched an erosion and corrosion monitoring portfolio with digital capabilities tailored for oil and gas processing. This portfolio transforms offline corrosion probes into online tools, enabling real-time monitoring of erosion and corrosion risks, optimizing asset integrity management in demanding operational environments.
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Regional analysis of Corrosion Monitoring Market
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
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Corrosion Monitoring Market Segmentation
by Type
1. Intrusive
2. Non-Intrusive
by Technique
1. Corrosion Coupons
2. Electrical Resistance
3. Linear Polarization Resistance
4. Galvanic
5. Ultrasonic Thickness Measurement
by End User
1. Oil & Gas
2. Chemical Manufacturing
3. Power Generation
4. Manufacturing
5. Pulp and Paper
Corrosion Monitoring Market leaders
North America:
1. Corr Instruments, Llc, (U.S.)
2. Sentry Equipment Corp., (U.S.)
3. Berkeley Springs Instruments (U.S.)
4. Matergenics Inc., (U.S.)
5. Emerson Electric Co. (U.S)
6. Clamp on As, (Norway)
7. Metex Corporation Limited (Toronto)
8. Cosasco ( Washington)
9. Rysco Corrosion Services Inc. (Canada)
10. Honeywell International Inc. (Charlotte)
11. Mistras Group (U.S.)
12. Nalco Champion (U.S.)
13. Corrpro Companies, Inc. (U.S.)
14. Roxar (Norway)
15. Caproco (Canada)
16. Baker Hughes (Texas, U.S.)
17. ICORR Technologies (U.S)
Europe:
1. Permasense Ltd. (U.K)
2. Siemens AG (Germany)
3. GE Oil & Gas (London, U.K.)
4. ABB Ltd (Switzerland)
5. Pepperl+Fuchs, (Germany)
6. Intertek (London, U.K.)
7. BAC Corrosion Control (TELFORD, U.K.)
Asia-Pacific Region:
1. Korosi Specindo (INDONESIA)
2. Yokogawa (Japan)
3. Alabama Speciality Products
4. Sensorlink AS (Shanghai)
Key questions answered in the Corrosion Monitoring Market are:
1. What is the growth rate of the Corrosion Monitoring Market?
2. Which region is expected to hold the highest share in the Corrosion Monitoring Market?
3. What is the market size of the Corrosion Monitoring Market?
4. What is the forecast period for the Corrosion Monitoring Market?
5. What segments are covered in the Corrosion Monitoring Market report?
Key Offerings:
• Past Corrosion Monitoring Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Corrosion Monitoring Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by
• Region
• Market Segmentation - A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize
Maximize Market Research is a global Market research and consulting company that provides businesses with insights to foster their growth and competitive advantage. The company specializes in delivering actionable and data-driven research reports tailored to help organizations make informed decisions. With a team of experienced analysts and consultants, Maximize Market Research offers expertise across multiple industries, including healthcare, technology, manufacturing, consumer goods, and more. Their services cover Market sizing, forecasting, competitive analysis, and customer insights, helping clients to address their strategic needs and identify emerging trends. The company emphasizes client success, offering detailed analysis and recommendations that support business transformation and operational excellence. Maximize Market Research also provides custom research services, allowing businesses to get solutions specific to their Market challenges. With a strong global presence, the company serves clients from various sectors, ensuring they stay ahead in a rapidly evolving Market landscape.
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