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Asset Integrity Management Market by Service, Industry And Geography - Global Forecast to 2023

Asset Integrity Management Market: Global Forecast until 2023

  • August 2017
  • 189 pages
  • ID: 5088872
In this report:
The US accounted for the largest share of ##.##% of asset integrity management services market in North America in 2016, and the market in the US is expected to grow at a CAGR of ##.##% between 2017 and 2023.
According to the US Department of Energy, the global demand for power is expected to grow by ##% by 2040, and China and India are likely to account for the half of this increase.

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"The asset integrity management services market anticipated to exhibit significant increase between 2017 and 2023"

The asset integrity management services market is anticipated to be valued at ~$31.7B by 2023, at a compound annual growth rate (CAGR) of 8.70 percent between 2017 and 2023. Key driving factors for the increase ot the asset integrity management services market are necessity of asset integrity management in new offshore fields in deep waters; declining efficiencies of ageing assets and the need for operational safety; stringent government safety regulations and quality control requirements; climatic changes affecting the operations of different markets; and declining oil and gas prices growing the industry demand for maintaining the asset and plant. Nevertheless, harsh environmental conditions in the Middle East (ME) and Arctic regions, and high initial cost and complex process of system installation are considered to be main restraints.

"Asset integrity management services market for corrosion management is anticipated to grow at the maximal CAGR (Compound annual growth rate) during projection period"

The industry for corrosion management services is anticipated to increase at the maximal compound annual growth rate (CAGR) between 2017 and 2023. The corrosion management services contain cathodic protection, protective coating, chemical injection, and corrosion monitoring. The benefits of corrosion management contain a reduction in environmental hazards caused by mechanical failures resulting in the leakage of hazardous gasses and liquids, rised availability of plant, reduction in unplanned maintenance, optimization of monitoring costs, and improvement in the working environment.

"Asset integrity management services market for power to grow at topmost cagr during forecast horizon"

The sector for the power sector is anticipated to rise at the highest CAGR (Compound annual growth rate) between 2017 and 2023. The current state of power market enforces it to economize and, at the same time, indulge in modernizations to rise the production. In the power sector, the asset integrity management services are used for ensuring the efficient and optimal working of power plants. The asset integrity management services also ensure the optimization of resources and efficient running of the plants. NDT is the basic technique for both identifying and seizing big flaws, and checking material degradation in the form of thermal aging, plastic deformation, fatigue, residual stress, creep, and stress corrosion cracking, among others.

"Asset integrity management services market in Asia-Pac to grow at topmost cagr during projection period"

The asset integrity management services market in Asia-Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) between 2017 and 2023. The asset integrity management services ensure optimum utilization of the available resources and consequent reduction of the oil imports. Therefore, the increasing oil and gas sector and the investments made in this market are driving the asset integrity management services market in Asia-Pac.

Breakdown of the profiles of primary members taking part for the study has been provided below:

• By Company category: Tier 1 = 42.0 percent, Tier 2 = 33.0 percent, and Tier 3 = 25.0 percent

• By Description: C-suite executives = 46.0 percent, Directors = 35.0 percent, and Others = 19.0 percent

• By Area: North America continent = 24.0 percent, Middle East (ME) = 27.0 percent, EU = 22.0 percent, Asia-Pacific = 21.0 percent, and RoW = 6.0 percent

The top players in the asset integrity management services market are SGS SA, Bureau Veritas SA, Intertek Group plc, Fluor Corporation, Aker Solutions ASA, Applus+ Servicios Technológicos, S.L., DNV GL AS, John Wood Group PLC, Oceaneering International Inc., ROSEN Swiss AG, and TechnipFMC plc.

Segment Research

The research report examines the asset integrity management services established on service type, sector, and territory. The market has been split on the basis of service type into risk-based inspection ; reliability, accessibility, and maintainability study; corrosion management; pipeline integrity management; hazard identification study; structural integrity management; nondestructive testing ; and others. The sectors implementing these services contain oil and gas, power, mining, aeospace, and others. The analysis includes the market broken down on the basis of 4 main regions-North America, Europe (EU), Asia-Pac, and RoW.

Main highlights

Figures of segmentation, review, and estimate for the sector established on service type, market, and area have been organized to give an global view of the asset integrity management services market.

Main drivers, market restraints, alternatives, and opportunities for the asset integrity management services market have been precised in this industry report.

The market research includes an exhaustive competitive analysis together with top players and their revenue.

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