The cathodic protection market holds around 12-18% of the global corrosion protection market share. The global cathodic protection market is expected to be worth $4,605.0 million in 2022, with a 5.2% CAGR from 2022 to 2032. By 2032, the market is expected to be worth $4,680.2 million USD. Small to large industries use cathodic protection to control and mitigate the effects of corrosion. As a result, key consumers of protection products and services include oil and gas, water and wastewater, and processing plants, among others.
In 2022, the U.S. is anticipated to hold a 79.8% market share in North America for cathodic protection. According to the report, replacing the nation’s over a million miles of damaged water and sewage pipes all at once would cost about US$ 2.1 trillion.
From 2017 to 2021, the market grew at a 2.6% CAGR and is expected to grow at a 4.7% Y-O-Y rate in 2022. The growing emphasis on pipeline and infrastructure quality is expected to drive the cathodic protection market during the forecast period.
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Cathodic Protection Market: Segmentation Analysis
Cathodic Protection Market Analysis by Solution
In solution, the cathodic protection market has been categorized into products and services. The product segment can be further divided into anodes, power supplies, junction boxes, test stations, remote monitors, coatings, instrumentation, and others.
Services include inspection, design & construction, and maintenance. Leading players in the market provide almost all the products and services for cathodic protection to various end-users.
Cathodic Protection Market Analysis by Type
By type, the cathodic protection market size is segmented into galvanic (sacrificial anodes) and impressed current. The impressive current-based cathodic protection continues to hold bulk shares of the market, nearly 80%.
Demand for cathodic protection based on impressed current continues to remain influenced by the high cost of alternative methods available for cathodic protection currently.
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Cathodic Protection Market Analysis by Application
By application, the cathodic protection market has been categorized into pipelines, storage facilities, processing plants, water & wastewater, transportation, building, and others.
Government regulations related to the corrosion protection of industrial infrastructures continue to influence the growth of the cathodic protection market.
The more regulations are imposed, the more cathodic protection is required, and the more accurate and detailed the testing and records need to be. This is expected to significantly boost the growth of the cathodic protection market shortly.
Cathodic Protection Market Analysis by Region
From a regional perspective, North America is projected to be a prominent market, owing to significant pipeline integration in the oil & gas industry. Europe is projected to hold over one-fourth share of the cathodic protection market.
The U.S. is set to account for around 79.8% of the North America cathodic protection market share in 2022. As per the report, it would cost about US$ 2.1 trillion to replace over a million miles of deteriorated water and sewerage pipes all at once in the country.
Cathodic Protection Market: Vendor Insights
Key players operating in the cathodic protection market include Aegion Corporation, BAC Corrosion Control Ltd., Cathodic Protection Company, Cathodic Protection Management, Inc., Corrosion Protection Specialist Private Limited, Farwest Corrosion Control Company, Imenco AS, Matcor, Inc, MG Duff International Ltd, Perma-Pipe Inc., SAE Inc., Southern Cathodic Protection, Tecnoseal Group, The Nippon Corrosion Engineering Co., Ltd., and Nakabohtec Corrosion Protecting Co., Ltd.
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Key Segments Covered In Cathodic Protection Industry Analysis
- Power Supplies
- Junction Boxes
- Test Stations
- Remote Monitors
- Design & Construction
- Galvanic (Sacrificial Anodes)
- Impressed Current
- Storage Facilities
- Processing Plants
- Water & Wastewater
- Fuelling Systems
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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