Industry Background:
Rising demand in Oil and Gas industry will help to boost global cathodic protection system market. Cathodic protection (CP) referred as an electrochemical process which used to slow or stop corrosion currents by applying DC current to a metal. There are two types of cathodic protection system including galvanic (sacrificial anodes) and impressed current. The trend has been gradually pervasive in emerging countries such as India and China. Such robust infrastructure spending by governments will considerably drive the demand for cathodic protection in the forecasted years.
According to AMA, the market for Cathodic Protection Systems is expected to register a CAGR of 5.6% during the forecast period to 2026. This growth is primarily driven by Rising Infrastructure Development Activities Worldwide, Growing Urbanization around The World and Huge Demand Due To Cost Reduction in Their Services.
Globally, a noticeable market trend is evident Huge Demand in Oil and Gas Industry Due To Rapid Rise In Population
. The Industrial Conglomerates sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Aegion (United States), Perma-Pipe (United States), Nakabohtec Corrosion Protecting (Japan), Corrosion Protection Specialist (India), BAC Corrosion Control (United Kingdom), The Nippon Corrosion Engineering (Japan), Farwest Corrosion Control (United States), Imenco (Norway), MATCOR (United States) and SAE (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rising Infrastructure Development Activities Worldwide
- Growing Urbanization around The World
- Huge Demand Due To Cost Reduction in Their Services
Market Trend
- Huge Demand in Oil and Gas Industry Due To Rapid Rise In Population
- Rising Government Initiatives for Cathodic Protection Systems
Restraints
- Availability of Substitutes
Opportunities
Huge demand for Power Generation Industry and Development of New Techniques Used For Cathodic Protection
Challenges
Highly Fragmented Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cathodic Protection Systems Study Sheds Light on
The Cathodic Protection Systems Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cathodic Protection Systems industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cathodic Protection Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.