Market Analysis and Insights: Middle East and Africa Corrosion Monitoring Market
Middle East and Africa Corrosion monitoring market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 9.1% in the forecast period of 2019 to 2027and expected to reach USD 66.47 million by 2027. Rising population among countries has sustainably increased the exploration of oil and gas activities are major factor driving the market.
The rising concern for cutting down cost for damages and maintenance has results in increasing demand for inspection tools which allow companies to detect signs of corrosion at early stage and help companies to determine processing parameters and trends which result in taking preventive measures at right time.
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This Corrosion Monitoring Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Middle East and Africa Corrosion Monitoring Market Scope and Market Size
Corrosion monitoring market is segmented on the basis of technique type, type, method type and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of technique type, the market is segmented into intrusive techniques and non- intrusive techniques. Intrusive techniques segment is dominates due to growing demand for accurate and efficient tool has increase adoption for intrusive technique.
On the basis of type, the market is segmented into uniform and localized. Uniform segment is dominating due to stringent government regulation regarding safety has enforce the companies to perform the inspection of machine uniformly.
On the basis of method type, the market is segmented into direct methods and indirect methods. Direct methods accounted largest market share due to the growing concern for minimizing companies in cutting down maintenance cost has increase demand for inspection method that provides accurate results and real time analysis has increase demand for direct inspection.
On the basis of end-user, the market is segmented into oil & gas, chemicals, petrochemical plants, pulp & paper, water/wastewater & LNG and others. Oil & gas accounted largest market share is due to growing replacement of aging pipeline of oil and gas industry.
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Corrosion Monitoring Market Country Level Analysis
Corrosion monitoring market is analysed and market size information is provided by country, technique type, type, method type and end-user.
The countries covered in corrosion monitoring market report are U.A.E, Saudi Arabia, South Africa, Egypt, Israel and Rest of Middle East and Africa.
Saudi Arabia is dominating the market due to the growing production of oil which has resulted in expansion of pipelines. Increasing demand for the monitor tools has helped the company to minimize the maintenance cost of the pipe.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Concern for Labour Safety
Corrosion monitoring market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in corrosion monitoring and changes in regulatory scenarios with their support for the corrosion monitoring market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Corrosion Monitoring Market Share Analysis
Corrosion monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to corrosion monitoring market.
The major players covered in the report are Corr Instruments, LLC, Midroc Europe, ICORR Technologies, Sentry Equipment Corp., Luna, Emerson Electric Co., Rysco Corrosion Services Inc., Honeywell, Intertek Group plc, STORK, Baker Hughes Company among other global player. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of corrosion monitoring market.
In March 2017, Yokogawa Electric Corporation which is providing test, measurement solutions and industrial automation signed an agreement with Cosasco, the company which provides corrosion monitoring technology for diverse industries as oil and gas, petrochemical, water treatment, chemical, pulp and paper, pharmaceutical, and utilities. In this agreement, the Yokogawa Electric Corporation will distribute Cosasco's ISA Wireless-based MWT-3905 and CWT-9020 corrosion monitors. This agreement has helped both the companies to reach more number of customers in corrosion monitoring market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for corrosion monitoring through expanded range of size.
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