Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Corrosion Monitoring - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Corrosion Monitoring estimated at US$280.8 Million in the year 2022, is projected to reach a revised size of US$564.1 Million by 2030, growing at a CAGR of 9.1% over the analysis period 2022-2030.
Corrosion Coupons, one of the segments analyzed in the report, is projected to record a 8.3% CAGR and reach US$182.5 Million by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Electrical Resistance segment is readjusted to a revised 9.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $76.5 Million, While China is Forecast to Grow at 12.7% CAGR
The Corrosion Monitoring market in the U.S. is estimated at US$76.5 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$122.5 Million by the year 2030 trailing a CAGR of 12.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.6% and 7.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$81.8 Million by the year 2030.
Select Competitors (Total 42 Featured) -
- Bac Corrosion Control Ltd.
- Cosasco Systems, Inc
- Icorr Technologies
- Intertek Group PLC
- Korosi Specindo
- Pyramid Technical Services Pvt. Ltd.
- Rysco Corrosion Services Inc.
- SGS SA
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 294 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $280.8 Million |
| Forecasted Market Value (USD) by 2030 | $564.1 Million |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- Corrosion Monitoring - Global Key Competitors Percentage Market Share in 2022 (E)
- Corrosion Monitoring Systems Crucial to Extending Service Life of Critical Industrial Equipment and Assets
- Challenge of Ageing Infrastructure in Process Manufacturing Industries Highlights Pressing Need for Corrosion Monitoring
- An Overview of Corrosion Monitoring Techniques
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Corrosion Costs in Oil and Gas Production Industries Augments Demand for Corrosion Monitoring Solutions
- Stable Growth in Global Oil Production Bodes Well for Market Expansion: Global Crude Oil and Liquid Fuels Production (In Million Barrels per Day) for the Years 2018, 2018, 2020, & 2021
- Rising Shale Gas Exploration Activities Provides Further Growth Opportunities: Global Commercial Shale Gas Production (In Billion Cubic Feet per Day) for the Years 2020 and 2040
- Increasing Need for Corrosion Mitigation in Modern Day Refineries Fuels Market Prospects
- Sustained Global Demand for Transportation Fuels Amplifies Refining Throughput, Creating Lucrative Growth Opportunities in the Market: Transportation Sector Fuel Consumption (in quadrillion Btu) by Type for the Years 2020, 2025, 2030 & 2040
- Growing Use of Reinforced Concrete in Modern Structures Presents Lucrative Growth Opportunities
- Emerging Preference for Non-intrusive Corrosion Monitoring Technologies
- Ultrasonic Thickness Measurement for Corrosion Monitoring in Hazardous Industrial Environments
- Technological Advancements and Innovations Vital to Future Market Growth
- Wider Deployment of IoT Drives Opportunities for Development of Intelligent Sensing Solutions
- Next Generation Predictive Corrosion Management Solutions
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/fl41wu
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