+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Asset Integrity Management Market Report Size, Trends & Growth Opportunity, By Service Type, By Industry, By Region: Forecast till 2027

  • PDF Icon

    Report

  • February 2022
  • Region: Global
  • Qualiket Research
  • ID: 5548483
Asset Integrity Management Market Report Size, Trends & Growth Opportunity, By Service Type, By Industry, By Region and forecast till 2027

Global Asset Integrity Management Market

The global asset integrity management market was expected to grow from USD 20.3 billion in 2020 to USD 25.7 billion by 2027 at a CAGR of 4.9% from 2020 to 2027.

Asset Integrity Management includes numerous processes which are essentially used for the functioning of the systems and it maintains as well as manage corporate assets effectively, Also, make sure that they are safe, operationally competent as well as reliable.

Market Drivers

Growth of the Asset Integrity Management Market is driven by Climatic changes giving rise to operational disturbances in various industries.

Also, increasing explorations for the oil and gas reserves in the developing countries, reduction in oil and gas prices, rising demand for maintaining the asset and plant, and strict government safety rules and quality control requirements are some of the driving factors of the global asset integrity management market.

Market Restraints

The factors like the harsh environmental conditions in the regions like Middle East and Arctic and high initial cost are also estimated to restrain the growth of the market. Another restraining factor to the growth of the market is the complex process of system installation.

Market Segmentation

Asset Integrity Management Marketsis segmented into major 4 categories. Based on Service Type, the market is segmented into Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Pipeline Integrity Management, Hazard Identification (HAZID) Study, Structural Integrity Management, Reliability, Availability, And Maintainability (RAM) study & others. Based on Industry, the market is segmented into Oil & gas, Power, Mining, Aerospace and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East.

Regional Analysis

North America region leads the asset integrity management market because of the accessibility of large number of exploration plants and existing critical and complicated equipment in the North America region.

The asset integrity management market in Asia Pacific is likely to grow at the highest owing to the increasing demand for oil and gas and the rise in merger and acquisition activities, that have enlarged investments in the regional energy sector.

Market Key Players

Some of the key players operating in Global Asset Integrity Management Market are Aker Solutions, Bureau Veritas, Fluor Corporation., Intertek Group plc, SGS SA, SAINT LOUIS UNIVERSITY, DNV GL AS, John Wood Group PLC, Oceaneering International, Inc., ROSEN Group.

Industry development

In June 2021, Bureau Veritas signed a contract with Veolia, an energy services company, to provide technical verifications at all sites. Bureau Veritas will also provide inspection services of the equipment, diagnostics and regulatory check and consultation in a three-year agreement contract.

In November 2020, Aker Solutions received a contract from Equinor, an energy company, in Brazil. The contract is of 4 years in which Aker Solutions will provide maintenance and modifications service at Peregrino field to extend the life of Equinor’s assets
In August 2020, SGS partnered with Oilfield Production Enhancement Consulting Services Ltd. (OPECS) - a consultancy company based in Aberdeen, UK, to jointly deliver SGS ARPIN workflow consultancy services. They will also provide consultancy for hydraulic fracturing, well stimulation and geomechanics to support energy companies in optimizing their drilling and stimulation work.
Frequently Asked Questions about the Asset Integrity Management Market

What is the estimated value of the Asset Integrity Management Market?

The Asset Integrity Management Market was estimated to be valued at $24.3 Billion in 2020.

What is the growth rate of the Asset Integrity Management Market?

The growth rate of the Asset Integrity Management Market is 6.2%, with an estimated value of $37 Billion by 2027.

What is the forecasted size of the Asset Integrity Management Market?

The Asset Integrity Management Market is estimated to be worth $37 Billion by 2027.

Who are the key companies in the Asset Integrity Management Market?

Key companies in the Asset Integrity Management Market include Aker Solutions, Bureau Veritas, Fluor Corporation., Intertek Group plc, SGS SA, SAINT LOUIS UNIVERSITY, DNV GL AS, John Wood Group PLC and ROSEN Group.

Table of Contents

1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Asset Integrity Management Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Asset Integrity Management Market, By Industry
5.1 Y-o-Y Growth Comparison, By Industry
5.2 Asset Integrity Management Market Share Analysis, By Industry
5.3 Asset Integrity Management Market Size and Forecast, By Industry
5.3.1 Oil & gas
5.3.2 Power
5.3.3 Mining
5.3.4 Aerospace
5.3.5 Others
6 Asset Integrity Management Market, By Service Type
6.1 Y-o-Y Growth Comparison, By Service Type
6.2 Asset Integrity Management Market Share Analysis, By Service Type
6.3 Asset Integrity Management Market Size and Forecast, By Service Type
6.3.1 Non-Destructive Testing (NDT)
6.3.2 Risk-Based Inspection (RBI)
6.3.3 Corrosion Management
6.3.4 Pipeline Integrity Management
6.3.5 Hazard Identification (HAZID) Study
6.3.6 Structural Integrity Management
6.3.7 Reliability, Availability, And Maintainability (RAM) study
6.3.8 Others
7 Asset Integrity Management Market, By Region
7.1 Asset Integrity Management Market Share Analysis, By Region
7.2 Asset Integrity Management Market Share Analysis, By Region
7.3 Asset Integrity Management Market Size and Forecast, By Region
8 North America Asset Integrity Management Market Analysis and Forecast (2021 – 2027)
8.1 Introduction
8.2 North America Asset Integrity Management Market Share Analysis, By Industry
8.3 North America Asset Integrity Management Market Size and Forecast, By Service Type
8.4 North America Asset Integrity Management Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Asset Integrity Management Market Analysis and Forecast (2021 – 2027)
9.1 Introduction
9.2 Europe Asset Integrity Management Market Share Analysis, By Industry
9.3 Europe Asset Integrity Management Market Size and Forecast, By Service Type
9.4 Europe Asset Integrity Management Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10 Asia Pacific Asset Integrity Management Market Analysis and Forecast (2021 – 2027)
10.1 Introduction
10.2 Asia Pacific Asset Integrity Management Market Share Analysis, By Industry
10.3 Asia Pacific Asset Integrity Management Market Size and Forecast, By Service Type
10.4 Asia Pacific Asset Integrity Management Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Asset Integrity Management Market Analysis and Forecast (2021 – 2027)
11.1 Introduction
11.2 Latin America Asset Integrity Management Market Share Analysis, By Industry
11.3 Latin America Asset Integrity Management Market Size and Forecast, By Service Type
11.4 Latin America Asset Integrity Management Market Size and Forecast, By Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Asset Integrity Management Market Analysis and Forecast (2021 – 2027)
12.1 Introduction
12.2 Middle East Asset Integrity Management Market Share Analysis, By Industry
12.3 Middle East Asset Integrity Management Market Size and Forecast, By Service Type
12.4 Middle East Asset Integrity Management Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Aker Solutions
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Bureau Veritas
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Fluor Corporation.
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Intertek Group plc
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 SGS SA
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 SAINT LOUIS UNIVERSITY
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 DNV GL AS
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 John Wood Group PLC
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Oceaneering International, Inc.
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 ROSEN Group
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies

Companies Mentioned

  • Aker Solutions
  • Bureau Veritas
  • Fluor Corporation.
  • Intertek Group plc
  • SGS SA
  • SAINT LOUIS UNIVERSITY
  • DNV GL AS
  • John Wood Group PLC
  • Oceaneering International Inc.
  • ROSEN Group