The corrosion under insulation monitoring market is expected to grow from US$ 94.74 million in 2022 to US$ 193.72 million by 2028; it is estimated to grow at a CAGR of 12.7% from 2022 to 2028.
The corrosion under insulation monitoring market is mainly driven by losses caused by corrosion-related damage and the increased durability of pipelines in the oil & gas sector. Further, a rise in demand for asset management services by end-use industries and emerging countries presents opportunities in the corrosion under insulation monitoring market. However, the requirement of skilled personal and technical expertise and focus on curative maintenance than preventive limits the corrosion under insulation monitoring market growth. Nevertheless, the integration of AI with corrosion monitoring systems is likely to emerge as a future trend in the corrosion under insulation monitoring market during the forecast period.
The main stakeholders of the global corrosion under insulation monitoring market include raw material/component providers, CUI monitoring system manufacturers, CUI monitoring service providers, and end users. The raw material/component providers offer the CUI monitoring market players with components such as sensors. The market players utilize these sensors to manufacture the hardware used for monitoring insulated pipes for CUI situations. Any impact on the raw material/component providers of the corrosion under insulation monitoring market players will directly impact the offering of the market players. The next important stakeholder in the value chain is the CUI solution providers, who offer hardware, software, and services to the end-users. A few of the key players operating in the corrosion under insulation monitoring market include 3-Sci Limited; Alabama Specialty Products, Inc.; Eddyfi Technologies; iSensPro; and Kaefer Group. They offer advanced monitoring solutions for in-time detection of any type of corrosion across pipelines in the end-use industries.
The next stakeholders include the service providers who offer inspection and monitoring services to the CUI areas. With the complete package with software and hardware integration, CUI monitoring service providers are provide complete solution to its end-users. The major end-users of the global corrosion under insulation monitoring market include oil & gas, marine, chemical & petrochemical, energy & power, food processing industries, and others. These companies procure the CUI solution for detecting corrosion under insulation. These companies incorporate long-term contracts and supply agreements with the CUI monitoring solution-providing companies. The end users are the key stakeholders of the market as it creates the demand for the product, thus boosting the market growth over the forecast period.
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Corrosion Under Insulation Monitoring Market: Strategic Insights
Market Size Value in US$ 94.74 Million in 2022 Market Size Value by US$ 193.72 Million by 2028 Growth rate CAGR of 12.7% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Corrosion Under Insulation Monitoring Market: Strategic Insights
| Market Size Value in | US$ 94.74 Million in 2022 |
| Market Size Value by | US$ 193.72 Million by 2028 |
| Growth rate | CAGR of 12.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on North America Corrosion Under Insulation Monitoring Market Players
North American countries such as the US was severely impacted due to the COVID-19 pandemic. The manufacturing sectors across the region were operating at a low capacity to combat the spread of SARS-CoV-2, which resulted in low production volume in the first two quarters of 2020. The decrease in the production volume of the manufacturing facilities led to the decline in demand for CUI monitoring devices. For instance, the automotive industry in the US experienced a decrease in production by over 15%, thereby reducing the demand for CUI monitoring devices in the sector. Further, the oil & gas and chemical & petrochemical industries were also adversely affected in Q1 and Q2 of 2020. The decrease in oil & gas production across refining and production facilities contributed to the decrease in demand for CUI monitoring devices, thereby severely impacting the corrosion under insulation monitoring market size. As a result, the COVID-19 pandemic has hindered the corrosion under insulation monitoring market growth.
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Market Insights – Corrosion Under Insulation Monitoring Market
Based on geography, the corrosion under insulation monitoring market size is primarily segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). North America is expected to account for the largest corrosion under insulation monitoring market share in 2022, and it is expected to retain its dominance during the forecast period. Further, APAC is expected to witness the highest CAGR in the market during the forecast period.
The North America market is segmented into the US, Canada, and Mexico. According to the report published by Rust Bullet in 2020, North America’s oil & gas is a prominent end user industry of CUI monitoring solutions. Furthermore, the US has the largest refining capacity in the world and accounts for over 23% of the world’s petroleum production; with 163 refineries, corrosion has an annual direct cost of ~US$ 3.7 billion. The costs associated with maintenance are ~US$ 1.8 billion, the costs associated with vessel turnarounds are ~US$ 1.4 billion, and the costs associated with fouling are ~US$ 0.5 billion every year. Surface pipeline and facility costs in the US oil & gas industry total US$589 million. Internal corrosion that develops in wells and pipelines is the main issue witnessed by the oil & gas sector across the region. The influence of environmental factors in the region such as temperature, water chemistry, flow rate, steel quality, and CO2 and H2S content mostly contributes to corrosion. Similarly, corrosion also affects other end user industries such as food processing, marine, water treatment, and chemical by damaging the machinery and other equipment. Such issues increase the demand for CUI monitoring solutions which leads to the corrosion under insulation market growth in the region.
Component - Based Insights
Based on components, the corrosion under insulation monitoring market share is segmented into hardware, software, and services. Hardware is the backbone of the solutions provided by corrosion under insulation monitoring solution manufacturers as it needs to be well designed and optimized according to the requirements of end users. The software acts as an interface between hardware and end users. Services are entirely based on user requirements and service providers’ hardware and software configurations.
Market players operating in the corrosion under insulation monitoring market analysis are mainly focused on the development of advanced and efficient systems.
- In 2021, Kaefer Group introduced blu, a global initiative to enhance Kaefer's experience in CUI remediation.
- In 2022, MISTRAS Group is the latest addition to the Materials Technology Institute (MTI). With this partnership, MISTRAS Group is enhancing its research & product development capabilities.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The estimated global market size for the corrosion under insulation monitoring market in 2022 is expected to be around US$ 94.74 million
Losses Caused by Corrosion-Related Damages
Increasing Demand from End-Use Industries and Emerging Industrial Sectors in Topical Regions
3-Sci Limited, Kaefer Group, Mistras Group, Cosasco, and MAXWELL NDT are the key market players expected to hold a major market share of corrosion under insulation monitoring market in 2022.
Asia Pacific is expected to register the highest CAGR in the corrosion under insulation monitoring market during the forecast period (2022-2028).
Services segment is expected to hold a major market share of corrosion under insulation monitoring market in 2022
The corrosion under insulation monitoring market is expected to register an incremental growth value of US$ 98.98 million during the forecast period.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Corrosion Under Insulation Monitoring Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia-Pacific – PEST Analysis
4.2.4 Middle East and Africa – PEST Analysis
4.2.5 South America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Corrosion Under Insulation Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Losses Caused by Corrosion-Related Damages
5.1.2 Increasing Demand from Oil & Gas Sector and Rising Investment in Emerging Nations
5.2 Market Restraints
5.2.1 Requirement of Skilled Personnel and Technical Expertise
5.3 Market Opportunities
5.3.1 Rising Focus to Enhance Durability of Equipment in Food & Beverages Sector
5.4 Future Trends
5.4.1 Integration of AI with Corrosion Monitoring Systems
5.5 Impact Analysis of Drivers and Restraints
6. Corrosion Under Insulation Monitoring Market – Global Market Analysis
6.1 Corrosion Under Insulation Monitoring Market Overview
6.2 Corrosion under insulation monitoring Market Forecast and Analysis
6.3 Market Positioning – Global Key Players
7. Corrosion Under Insulation Monitoring Market Analysis – By Component
7.1 Overview
7.2 Corrosion Under Insulation Monitoring Market Breakdown, By Component, 2022 and 2028
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8. Corrosion Under Insulation Monitoring Market – By End User
8.1 Overview
8.2 Corrosion Under Insulation Monitoring Market Breakdown, By End user, 2022 and 2028
8.3 Oil & Gas
8.3.1 Overview
8.3.2 Oil & Gas: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.4 Marine
8.4.1 Overview
8.4.2 Marine: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.5 Chemical and Petrochemical
8.5.1 Overview
8.5.2 Chemical and petrochemical: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.6 Energy & Power
8.6.1 Overview
8.6.2 Energy & Power: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.7 Food Processing Industries
8.7.1 Overview
8.7.2 Food Processing Industries: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
9. Corrosion Under Insulation Monitoring Market – Geographic Analysis
9.1 Overview
9.2 North America: Corrosion Under Insulation Monitoring Market
9.2.1 North America: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Corrosion Under Insulation Monitoring Market, by Component
9.2.3 North America: Corrosion Under Insulation Monitoring Market, by End user
9.2.4 North America: Corrosion Under Insulation Monitoring Market, by Key Country
9.2.4.1 US: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Corrosion Under Insulation Monitoring Market, by Component
9.2.4.1.2 US: Corrosion Under Insulation Monitoring Market, by End user
9.2.4.2 Canada: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Corrosion Under Insulation Monitoring Market, by Component
9.2.4.2.2 Canada: Corrosion Under Insulation Monitoring Market, by End user
9.2.4.3 Mexico: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Corrosion Under Insulation Monitoring Market, by Component
9.2.4.3.2 Mexico: Corrosion Under Insulation Monitoring Market, by End user
9.3 Europe: Corrosion Under Insulation Monitoring Market
9.3.1 Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.2 Europe: Corrosion Under Insulation Monitoring Market, by Component
9.3.3 Europe: Corrosion Under Insulation Monitoring Market, by End user
9.3.4 Europe: Corrosion Under Insulation Monitoring Market, by Key Country
9.3.4.1 Germany: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.1.1 Germany: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.1.2 Germany: Corrosion Under Insulation Monitoring Market, by End user
9.3.4.2 France: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.2.1 France: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.2.2 France: Corrosion Under Insulation Monitoring Market, by End user
9.3.4.3 Italy: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 Italy: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.3.2 Italy: Corrosion Under Insulation Monitoring Market, by End user
9.3.4.4 UK: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.4.1 UK: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.4.2 UK: Corrosion Under Insulation Monitoring Market, by End user
9.3.4.5 Russia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.5.1 Russia: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.5.2 Russia: Corrosion Under Insulation Monitoring Market, by End user
9.3.4.6 Rest of Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.3.4.6.1 Rest of Europe: Corrosion Under Insulation Monitoring Market, by Component
9.3.4.6.2 Rest of Europe: Corrosion Under Insulation Monitoring Market, by End user
9.4 Asia Pacific: Corrosion Under Insulation Monitoring Market
9.4.1 APAC: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.2 APAC: Corrosion Under Insulation Monitoring Market, by Component
9.4.3 APAC: Corrosion Under Insulation Monitoring Market, by End user
9.4.4 APAC: Corrosion Under Insulation Monitoring Market, by Key Country
9.4.4.1 Australia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.1.1 Australia: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.1.2 Australia: Corrosion Under Insulation Monitoring Market, by End user
9.4.4.2 China: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.2.1 China: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.2.2 China: Corrosion Under Insulation Monitoring Market, by End user
9.4.4.3 India: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.3.1 India: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.3.2 India: Corrosion Under Insulation Monitoring Market, by End user
9.4.4.4 Japan: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.4.1 Japan: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.4.2 Japan: Corrosion Under Insulation Monitoring Market, by End user
9.4.4.5 South Korea: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.5.1 South Korea: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.5.2 South Korea: Corrosion Under Insulation Monitoring Market, by End user
9.4.4.6 Rest of APAC: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of APAC: Corrosion Under Insulation Monitoring Market, by Component
9.4.4.6.2 Rest of APAC: Corrosion Under Insulation Monitoring Market, by End user
9.5 MEA: Corrosion Under Insulation Monitoring Market
9.5.1 MEA: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.5.2 MEA: Corrosion Under Insulation Monitoring Market, by Component
9.5.3 MEA: Corrosion Under Insulation Monitoring Market, by End user
9.5.4 MEA: Corrosion Under Insulation Monitoring Market, by Key Country
9.5.4.1 South Africa: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.1.1 South Africa: Corrosion Under Insulation Monitoring Market, by Component
9.5.4.1.2 South Africa: Corrosion Under Insulation Monitoring Market, by End user
9.5.4.2 Saudi Arabia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.2.1 Saudi Arabia: Corrosion Under Insulation Monitoring Market, by Component
9.5.4.2.2 Saudi Arabia: Corrosion Under Insulation Monitoring Market, by End user
9.5.4.3 UAE: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.3.1 UAE: Corrosion Under Insulation Monitoring Market, by Component
9.5.4.3.2 UAE: Corrosion Under Insulation Monitoring Market, by End user
9.5.4.4 Rest of MEA: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.4.1 Rest of MEA: Corrosion Under Insulation Monitoring Market, by Component
9.5.4.4.2 Rest of MEA: Corrosion Under Insulation Monitoring Market, by End user
9.6 SAM: Corrosion Under Insulation Monitoring Market
9.6.1 SAM: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.6.2 SAM: Corrosion Under Insulation Monitoring Market, by Component
9.6.3 SAM: Corrosion Under Insulation Monitoring Market, by End user
9.6.4 SAM: Corrosion Under Insulation Monitoring Market, by Key Country
9.6.4.1 Brazil: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 Brazil: Corrosion Under Insulation Monitoring Market, by Component
9.6.4.1.2 Brazil: Corrosion Under Insulation Monitoring Market, by End user
9.6.4.2 Argentina: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 Argentina: Corrosion Under Insulation Monitoring Market, by Component
9.6.4.2.2 Argentina: Corrosion Under Insulation Monitoring Market, by End user
9.6.4.3 Rest of SAM: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 Rest of SAM: Corrosion Under Insulation Monitoring Market, by Component
9.6.4.3.2 Rest of SAM: Corrosion Under Insulation Monitoring Market, by End user
10. Impact of COVID-19 Pandemic on Global Corrosion under insulation monitoring Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 APAC: Impact Assessment of COVID-19 Pandemic
10.5 MEA: Impact Assessment of COVID-19 Pandemic
10.6 South & Central America Impact Assessment of COVID-19 Pandemic
11. Global Corrosion under Insulation Monitoring Market-Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Product Launch
12. Company Profile
12.1 3-Sci Limited
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Alabama Specialty Products, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Eddyfi Technologies
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 iSensPro
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Kaefer Group
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MAXWELL NDT
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Mistras Group
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Cosasco
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 QSA Global, Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Testex, Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Corrosion Under Insulation Monitoring Market, by Country–Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Corrosion Under Insulation Monitoring Market, by Component–Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Corrosion Under Insulation Monitoring Market, by End user –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 11. Europe: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 12. Europe: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 13. Europe: Corrosion Under Insulation Monitoring Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 15. Germany: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 16. France: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 17. France: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 20. UK: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 21. UK: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of Europe: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 26. APAC: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 27. APAC: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 28. APAC: Corrosion Under Insulation Monitoring Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 29. Australia: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 30. Australia: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 31. China: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 32. China: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 33. India: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 34. India: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 35. Japan: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 36. Japan: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 37. South Korea: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 38. South Korea: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 39. Rest of APAC: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 40. Rest of APAC: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 41. MEA: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 42. MEA: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 43. MEA: Corrosion Under Insulation Monitoring Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 44. South Africa: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 45. South Africa: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 46. Saudi Arabia: Corrosion Under Insulation Monitoring Market by Component– Revenue and Forecast to 2028 (US$ Million)
Table 47. Saudi Arabia: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 48. UAE: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 49. UAE: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 50. Rest of MEA: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 51. Rest of MEA: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 52. SAM: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 53. SAM: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 54. SAM: Corrosion Under Insulation Monitoring Market, by key Country– Revenue and Forecast to 2028 (US$ Million)
Table 55. Brazil: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 56. Brazil: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 57. Argentina: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 58. Argentina: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 59. Rest of SAM: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 60. Rest of SAM: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 61. List of Abbreviation
LIST OF FIGURES
Figure 1. Corrosion Under Insulation Monitoring Market Segmentation
Figure 2. Corrosion Under Insulation Monitoring Market Segmentation – By Geography
Figure 3. Global Corrosion Under Insulation Monitoring Market Overview
Figure 4. Services holds the Largest Share of Corrosion Under Insulation Monitoring Market
Figure 5. Oil & Gas Segment held the Largest Share of Corrosion under Insulation Monitoring Market
Figure 6. Asia Pacific to Show Great Traction During Forecast Period
Figure 7. North America – PEST Analysis
Figure 8. Europe – PEST Analysis
Figure 9. Asia-Pacific – PEST Analysis
Figure 10. Middle East and Africa – PEST Analysis
Figure 11. South America – PEST Analysis
Figure 12. Ecosystem Analysis
Figure 13. Expert Opinion
Figure 14. Corrosion Under Insulation Monitoring Market Impact Analysis of Drivers and Restraints
Figure 15. Corrosion Under Insulation Monitoring Market – Geographic Analysis
Figure 16. Corrosion under insulation monitoring Market Forecast and Analysis (US$ Million)
Figure 17. Corrosion Under Insulation Monitoring Market Revenue Share, By Component (2022 and 2028)
Figure 18. Hardware: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Software: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Services: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Corrosion Under Insulation Monitoring Market Revenue Share, By End user (2022 and 2028)
Figure 22. Oil & Gas: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Marine: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Chemical and petrochemical: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Energy & Power: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Food Processing Industries: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Others: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Global Corrosion Under Insulation Monitoring Market Revenue Share, by Region (2021 and 2028)
Figure 29. North America: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America: Corrosion Under Insulation Monitoring Market Revenue Share, by Component (2021 and 2028)
Figure 31. North America: Corrosion Under Insulation Monitoring Market Revenue Share, by End user(2021 and 2028)
Figure 32. North America: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 33. US: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Canada: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Mexico: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Europe: Corrosion Under Insulation Monitoring Market Revenue Share, by Component (2021 and 2028)
Figure 38. Europe: Corrosion Under Insulation Monitoring Market Revenue Share, by End user (2021 and 2028)
Figure 39. Europe: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 40. Germany: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. France: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Italy: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. UK: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Russia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Rest of Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. APAC: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. APAC: Corrosion Under Insulation Monitoring Market Revenue Share, by Component (2021 and 2028)
Figure 48. APAC: Corrosion Under Insulation Monitoring Market Revenue Share, by End user (2021 and 2028)
Figure 49. APAC: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 50. Australia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. China: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. India: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. Japan: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. South Korea: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Rest of APAC: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. MEA: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. MEA: Corrosion Under Insulation Monitoring Market Revenue Share, by Component(2021 and 2028)
Figure 58. MEA: Corrosion Under Insulation Monitoring Market Revenue Share, by End user(2021 and 2028)
Figure 59. MEA: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 60. South Africa: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Saudi Arabia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. UAE: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. Rest of MEA: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. SAM: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. SAM: Corrosion Under Insulation Monitoring Market Revenue Share, by Component (2021 and 2028)
Figure 66. SAM: Corrosion Under Insulation Monitoring Market Revenue Share, by End user(2021 and 2028)
Figure 67. SAM: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 68. Brazil: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 69. Argentina: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 70. Rest of SAM: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. Impact of COVID-19 Pandemic on North American Country Markets
Figure 72. Impact of COVID-19 Pandemic on Europe Country Markets
Figure 73. Impact of COVID-19 Pandemic on APAC Country Markets
Figure 74. Impact of COVID-19 Pandemic on MEA Country Markets
Figure 75. Impact of COVID-19 Pandemic on South & Central America Country Markets
The List of Companies - Corrosion Under Insulation Monitoring Market
- 3-Sci Limited
- Alabama Specialty Products, Inc.
- Eddyfi Technologies
- iSensPro
- KAEFER
- MAXWELL NDT
- MISTRAS Group
- TesTex Incorporated
- QSA Global, Inc.
- Cosasco
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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