The cathodic protection market is expected to grow at a 5.2% CAGR between 2023 and 2033. The market is expected to be valued at US$ 4.60 billion in 2023, with a market share of US$ 7.64 billion by 2033.
- The high advantages, different cathode protection systems, and long-range applications are likely to garner market growth. Furthermore, the low installation costs and minimum maintenance make it an ideal protection layer for metal objects.
- A wide number of systems including galvanic systems, impressed current systems, underground pipes, and storage tank bottoms are mainly used to prevent corrosion, which is helping the market growth. Alongside this, the economic advantages of the preservation of underground pipeline systems are pushing industry owners to adopt suitable cathodic protection.
- The alternative material, high reliability, and enhanced efficiency are anticipated to deliver improved protection to underwater motors and other industrial equipment. Also, the new projects undertaking large submarine pipelines, and mining platforms are adopting cathodic protection systems.
- The metallic path and electrically charged industrial setups that work with underground water are protected from corrosion. Further, these setups usually have anode and cathode points. The no power bills, easy-to-design, and economical for small structures are increasing the market traction.
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Key Takeaways:
- The United States market leads North America’s cathodic protection market in terms of market share in North America. The United States held a market share of 17.6% in 2022. The factors attributed to the industrial expansion are the government expanding its underwater pipelines and the high consumption of submarine
- Germany’s cathodic protection market held a market share of 7.7% in 2022. The market growth is caused by the new industries setting up, under ocean operations, and government authorities adopting systems to protect their defense equipment.
- India’s market thrives at a healthy CAGR of 6.5% between 2023 and 2033. New submarine projects, metal-based equipment underwater, and growing marine engineering in the region are garnering regional growth.
- China’s market also thrives at a CAGR of 6.1% during the forecast period.
- Based on type, the galvanic (Sacrificial Anodes) segment leads the market as it held a market share of 58.3% in 2022.
- Based on pipeline type, the disinfection segment strives as it accumulated a revenue share of 22.0% in the global market in 2022.
Competitive Landscape
The key suppliers focus on effectiveness, long protection, and affordable prices. In addition, the competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Recent Market Developments
- James Fisher has launched the cathodic protection system installation through dover-based work vessel sealift 3 along with the application of a local fabricator.
- IMB partners to build the infrastructure portfolio with capital investment in the Farwest corrosion control company. This is going to be the second strategic investment this year to align with the United States Infrastructure Bill.
Key Segments Covered
By Solution:
- Products
- Anodes
- Power Supplies
- Junction Boxes
- Test Stations
- Remote Monitors
- Coating
- Instrumentation
- Others
- Services
- Inspection
- Design & Construction
- Maintenance
By Type:
- Galvanic (Sacrificial Anodes)
- Impressed Current
By Application:
- Pipelines
- Storage Facilities
- Processing Plants
- Water & Wastewater
- Transportation
- Bridges
- Airports
- Fuelling Systems
- Metros
- Building
- Others
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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