Global Corrosion Monitoring System Market 2017-2021

Overview of the global corrosion monitoring system market

Technavio’s market research report predicts that the global corrosion monitoring system market will grow at a CAGR of nearly 11% during the forecast period. The increased usage of wireless technology for corrosion monitoring is one of the primary drivers for market growth. The corrosion monitoring system is a vital component of several industries that assists in raising the productivity and decreasing the downtime. The diagnosis of corrosion and change in factors such as vibration, heat, and leak and oil analysis helps in detecting problems early. Online corrosion monitoring done using wireless technologies adds extra convenience and enables remote monitoring. These systems are more beneficial as they offer instant data, continuous coverage, and data of machines. Also, sensors are the vital components of corrosion monitoring systems. The sensor technology market is integrating newer and better advances to deliver optimum services. New technologies, such as system-on-a-chip, have raised limits of data acquisition as they allow real-time accurate data acquisition that can be relayed immediately to handheld devices, such as smartphones.

Owing to the demand from the oil and gas and power generation industries, the Americas accounted for the major shares of the corrosion monitoring system market during 2016. However, APAC will lead the market by 2021 and this will attribute to factors such as developments in end -user industries such as oil and gas and power generation and the adoption of renewable energy. Moreover, factors such as product price competitiveness and low-cost monitoring systems from countries such as China will also contribute to the growth of the market in APAC.

Competitive analysis and key vendors

The corrosion monitoring system market is intensely competitive and the competition among the vendors is based on product features, price, customized solutions, and monitoring services. The established vendors in the corrosion monitoring equipment market emphasize on expanding their presence across the globe, raising production capacities, gaining contracts for monitoring services from end-user industries, and upselling products by improving the existing technology.

Key vendors in the market are:

• ClampOn
• Emerson
• Honeywell
• Intertek
• SGS Group

Other prominent vendors include Aquarius Technologies, Alabama Specialty Products, Applied Corrosion Monitoring, BAC Corrosion Control, Buckleys (UVRAL), ChemTreat, Circul-Aire, Cosasco, Huguenot Laboratories, ICORR Technologies, Korosi Specindo, PYRAMID TECHNICAL SERVICES, and RYSCO Corrosion Services.

Segmentation by type and analysis of the corrosion monitoring system market

• Intrusive
• Non-intrusive

During 2016, the intrusive type segment dominated the corrosion monitoring system market and is expected to continue its dominion over the next four years. The major contributor to the segment’s growth is its wide utilization in pipeline and the upstream oil and gas sectors and the adoption of machinery and equipment in end-user industries.

Segmentation by end-user and analysis of the corrosion monitoring system market

• Oil and gas
• Chemical
• Power generation

According to this market research report, the oil and gas sector accounted for the majority of the shares of the corrosion monitoring equipment market during 2016. The segment is foreseen to continue its market dominance during the forecast period due to the increase in investments, the adoption of sensors with wireless technology, and the emergence of advanced software solutions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global corrosion monitoring system market?
• What are the key market trends impacting the growth of the global corrosion monitoring system market?
• What are the challenges to market growth?
• Who are the key vendors in the global corrosion monitoring system market?
• What are the market opportunities and threats faced by the vendors in the global corrosion monitoring system market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA .
• What are the key outcomes of the five forces analysis of the global corrosion monitoring system market?

Technavio also offers customization on reports based on specific client requirement.

Factors like the increasing demand for end-use industries and developments in technology have led to the growth of global corrosion monitoring market. This upcoming report is a core part of Technavio’s industrial automation industry portfolio and renders a full overview of fast developing sectors like robotics. With a projection to help clients to garner pertinent traction over their competitors, Technavio provides crucial information on several features of the industrial automation industry such as the ever-changing customer behavior and the factors that will flourish and curb the growth of vendors. Technavio’s industry research reports also provide extensive knowledge about all the leading vendors in the industrial automation industry.

To correctly forecast the industrial automation industry’s growth possibilities, our market research specialists carry out a triangulated research approach of primary and secondary data methods and also accomplish a detailed study of many parameters, such as the demand for various products and services across the globe. Our upcoming industry research report on the global corrosion monitoring market for the forecasted period of 2017 to 2021 presents executable visions derived from the data collected from various market informants like suppliers, manufacturers, regulatory bodies, and stakeholders to help clients formulate new strategies for business growth. Technavio also offers customized reports for clients based on their specifications.

This upcoming industry research report on the global corrosion monitoring market also considers the growth of similar markets like industrial v-belts, which is expected to grow at a CAGR of above 4% by 2021. The upcoming market research report on the global corrosion monitoring market also reveals the primary drivers, trends, and a competitive analysis of the industrial automation industry market landscape.