Global Cathodic Protection Market: Overview
The global cathodic protection market is growing and the trend will continue in the forecast period of 2024 to 2030. Transparency Market Research claims that the compound annual growth rate of the global cathodic protection market over the stated period is set to be sturdy yet moderate.
Multiple factors of growth are set to drive the market on a high growth curve, with robust statistics backing up ascent. One of the most notable factors contributing to growth in the cathodic protection market is growth in activities related to development of infrastructure. Region-wise, Asia Pacific (APAC) is anticipated to lay claim to a prominent place in the regional charts. It is quite interesting to note here that that China is anticipated to be a major growth propeller, with significant contributions to the cause of growth.
Global Cathodic Protection Market: Competitive Landscape
The global cathode protection market is set to witness a host of notable developments over the aforementioned period – assessment period of upcoming report, prepared by Transparency Market Research. It reveals that the market is witnessing diverse types of growth measures being deployed by top-tier companies to consolidate their position. A massive focus as of now is improving customer base by retaining ad expanding into newer regions.
Some of the most well-known global cathodic protection market players in the vendor landscape are:
- Aegion Corporation
- Perma-Pipe
- BAC Corrosion Control Ltd.
- Cathodic Protection Company
- Cathodi Protection Management, Inc.
- Corrosion Protection Specialist Pvt. Ltd.
- Farwest Corrosion Control Company
- Imensco AS
- MATCOR, Inc.
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Global Cathodic Protection Market: Key Trends and Drivers
- Over the forecast period, role of government bodies is set to be notable as far as the growth is concerned. Stringent regulations, in favor of the market, have been passed. This is particularly true for corrosion protection regulations for industries. In the past, United States Code of Federal regulations, European Environment Agency, and Environment Protection agency have taken steps in this direction. This is how the framework is set to propel the global cathodic protection market on a higher growth trajectory.
- Infrastructure development is another, quite significant, factor of growth in the global cathodic protection market over the forecast period mentioned above. In fact, a recent study claims that almost 85% increase in construction volumes is expected by the year of 2030. This is set to drive notable growth in demand for cathodic protection. It is particularly true of developing regions of the world which are set to create employment by these activities, helping push the gross domestic product to a higher mark. It is quite interesting to note here that these activities also create demand for maintenance, fuelling further growth in the global cathodic protection market over the Transparency Market Research’s report’s assessment period.
Global Cathodic Protection Market: Regional Analysis
The global cathodic protection market is set to witness the Asia Pacific emerge at the top of regional charts in terms of growth. High potential will be demonstrated by China. The country is growing at a notable pace. Notable factors that are marking the regional landscape, helping it emerge as a lucrative market for players by creating novel avenues, leading to growth, are increasing volumes in construction and growing activities related to infrastructure development. It is estimated that from the total growth in construction anticipated across the world, United States of America, India and China will account for more than half.
