Systems that can continuously monitor the process of corrosion and erosion are known as corrosion and erosion monitoring systems. The term ‘corrosion’ implies gradual wearing of metals caused by oxidation, while ‘erosion’ is gradual weathering off of materials such as rock. In other words, corrosion is a chemical change, while erosion is a physical change.
In the U.S. alone, corrosion costs the oil & gas (O&G) industry over US$ 5 Bn every year. With more rigid guidelines regarding safety and environment protection and increased inspection by media and government agencies, the need for a comprehensive corrosion and erosion monitoring system is rising.
The traditional methods of monitoring corrosion and erosion were facing a challenge posed by destructive combination of corrosive compounds and sand present in the crude oil produced. Thus, these methods were considered inadequate, as they could not differentiate one destructive mechanism from the other. This led to introduction of comprehensive corrosion and erosion monitoring systems that use the latest corrosion and erosion monitoring technology and that are highly cost effective.
Benefits offered by corrosion and erosion monitoring systems include immediate alerts regarding process updates and process upsets that facilitate a remedial action to prevent further damage, collection of information about sand production for better management of reservoirs, quick detection of low corrosion and erosion in systems with little or no corrosion allowance, low requirement for cables, and reduction in consumption of chemical inhibitors.
The global corrosion and erosion monitoring systems market can be segmented based on hardware, software, service, type, end-user, and region. In hardware, corrosion transmitters are used for measuring the corrosion rate, localized corrosion potential, Stern-Geary constant, and corrosion mechanism indicator. Based on software, the corrosion and erosion monitoring systems market can be categorized into prediction and material selection software and real-time corrosion prediction software.
Based on service, the corrosion and erosion monitoring systems market can be segmented into professional services (including consulting & testing, integration & implementation, and operation & maintenance) and managed services. In terms of end-user, the corrosion and erosion monitoring systems market can be classified into oil & gas production, oil & gas transmission, refinery systems, crude units, amine units, and sour water systems.
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Based on region, the global corrosion and erosion monitoring systems market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Since 2015, North America has started oil production abundantly. North America is anticipated to hold a major share of the global corrosion and erosion monitoring systems market in the next few years, due to presence of various players in the region providing these systems on a larger scale.