Global EV Battery Formation and Testing

Global EV Battery Formation and Testing

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).