The global corrosion monitoring market is projected to experience a compound annual growth rate (CAGR) of 11.9% in value terms throughout the forecast period, reaching an estimated value of USD 1,096.3 million by 2029.
The market size of the global corrosion monitoring industry is segmented by type into intrusive corrosion monitoring and non-intrusive corrosion monitoring. Non-intrusive corrosion monitoring solutions offer easier installation and address safety concerns compared to intrusive methods. Furthermore, advancements in software technology enable the correlation of corrosion data with wall thickness measurements, driving adoption in this segment. Tanalyze’s estimates project a robust CAGR of 14.5% for the non-intrusive corrosion monitoring segment from 2024 to 2029.
The global corrosion monitoring market is also segmented by end-user across sectors such as oil and gas and other industries. The Oil and Gas (O&G) sector held the highest revenue share in 2023 and is expected to maintain the highest CAGR from 2024 to 2029, particularly in the downstream O&G segment. This segment is relatively immune to low oil prices, contributing significantly to the overall market growth with an anticipated CAGR of 12.7% during the forecast period.
Key players influencing competitive dynamics in the global corrosion monitoring market include Emerson Electric Co., Rohrback Cosasco Systems, Inc., ClampOn AS, Sensorlink AS, Honeywell International Inc., Alabama Specialty Products, Inc., Caproco Ltd., Sensor Networks, Inc., General Electric Company, Teledyne Technologies Incorporated, CorrView International, LLC, Corrpro Companies, Inc., among others.
This study aims to analyze the global market for various segments of corrosion monitoring, including:
Product Type: Intrusive Corrosion Monitoring and Non-intrusive Corrosion Monitoring.
Component: Hardware and Software and Services.
End-User: Oil and Gas and Other End-Users.
Region: North America, Europe, Asia-Pacific, and Rest of World (RoW).
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 3
Part 1. Key Findings 5
Part 2. Scope and Methodology 6
Report Scope 7
Product Type 7
Component 7
End-User 7
Region 7
Research Methodology 8
Part 3. Corrosion Monitoring Market Overview 10
Summary 10
Part 4. Market Dynamics 12
Growth Drivers 12
Restraints and Challenges 14
Opportunities 15
Part 5. Global Corrosion Monitoring Market by Product Type 17
Intrusive Corrosion Monitoring 20
Non-intrusive Corrosion Monitoring 21
Part 6. Global Corrosion Monitoring Market by Component 22
Part 7. Global Corrosion Monitoring Market by End-User 28
Oil and Gas Sector 31
Others End-User Sector: 33
Part 8. Global Corrosion Monitoring Market by Region 35
Part 9. Corrosion Monitoring Market Competitive Analysis 44
Global Corrosion Monitoring Market Competition Overview 44
Emerson Electric Co. 45
Business Overview 45
Contact Information 48
Rohrback Cosasco Systems, Inc. 49
Business Overview 49
Contact Information 49
ClampOn AS 50
Business Overview 50
Contact Information 50
Sensorlink AS 51
Business Overview 51
Contact Information 51
Honeywell International Inc. 52
Business Overview 52
Contact Information 55
Other Leading Competitors 56
Disclaimer 57
FIGURES AND TABLES
Global Corrosion Monitoring Market, Net Growth, 2020-2029 (USD Million)
Global Corrosion Monitoring Market by Product Type, 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by Product Type, 2023/2029
Global Corrosion Monitoring Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Corrosion Monitoring Market for Intrusive Corrosion Monitoring: 2020-2029 (USD Million)
Global Corrosion Monitoring Market for Non-intrusive Corrosion Monitoring: 2020-2029 (USD Million)
Global Corrosion Monitoring Market by Component, 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by Component, 2023/2029
Global Corrosion Monitoring Market by Component, CAGR Historic and Forecast, 2020-2029
Global Corrosion Monitoring Market for Hardware: 2020-2029 (USD Million)
Global Corrosion Monitoring Market for Software and Services: 2020-2029 (USD Million)
Global Corrosion Monitoring Market by End-User, 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by End-User, 2023/2029
Global Corrosion Monitoring Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Corrosion Monitoring Market for Oil and Gas: 2020-2029 (USD Million)
Global Corrosion Monitoring Market for Other End-User: 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by Region, 2023
Global Corrosion Monitoring Market by Region, 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by Region, 2023/2029
Global Corrosion Monitoring Market by Region, CAGR Historic and Forecast, 2020-2029
North America Corrosion Monitoring Market: 2020-2029 (USD Million)
Europe Corrosion Monitoring Market: 2020-2029 (USD Million)
Asia Pacific Corrosion Monitoring Market: 2020-2029 (USD Million)
Rest of World (RoW) Corrosion Monitoring Market: 2020-2029 (USD Million)
Global Corrosion Monitoring Market Share (%), by Top Players, 2023
Emerson Electric Co. Financial Overview (USD Million)
Emerson Electric Co. Revenue, by Segment, 2023
Emerson Electric Co. Intelligent Devices Revenue, by Segment, 2023
Emerson Electric Co. Software and Control Revenue, by Segment, 2023
Honeywell International Inc. Financial Overview (USD Million) 2019-2023
Honeywell International Inc. Revenue, by Segment, 2023
Honeywell International Inc. Revenue, by Industry, 2023
Honeywell International Inc. Revenue, by Region, 2023