Asset Integrity Management Market: Market Segments: By Service Type (RAM Study, RBI, NDT, Pipeline Integrity Management, Corrosion Management, Structural Integrity Management, HAZID (Hazard Identification) Study and Others); By Application (Oil & Gas, Power, Marine, Mining, Aerospace, and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
Product Overview
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Asset Integrity Management (AIM) is defined as a system that enables an asset's capacity and potential to be controlled effectively in order to minimize and reduce degradation caused by corrosion and fatigue cracks. It ensures that procedures, entities and products are aligned and used in a method that produces better results. They are run on certain protocols aimed at protecting the asset, environment and individuals.
Market Highlights
Asset Integrity Management Market is expected to project a notable CAGR of 11.3% in 2030.
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Asset Integrity Management Market to surpass USD 47.3 billion by 2030 from USD 18.52 billion in 2018 at a CAGR of 10.96% throughout the forecast period, i.e., 2019-30. Rising understanding of managing capital expenditure and increasing the growth of the energy and power sectors are the main contributing factors. There are also new possibilities found in deep water oil fields that have also mobilized the market's growth.
Asset Integrity Management Market: Segments
Corrosion management segment to grow with the highest CAGR of 6.22% during 2019-30
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It is commonly used to decrease operating expenses in manufacturing industries and in-service applications, thereby driving the development of the service category market. On the basis of financial returns, the output of different assets is evaluated.
Asset Integrity Management Market: Market Dynamics
Drivers
Demand of asset integrity management in new offshore fields in deep waters
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Oil & gas sector contributes the majority of its shares to the market for asset integrity management services. Asset integrity management services ensure that oil & gas plants operate smoothly and that their resources are used optimally. The introduction of asset integrity management services is expected to intensify in the coming years with the discovery of new offshore fields in deep waters.
Restrain
Unfavorable environmental situations
The absence of skilled labor and volatile climate shifts that occur worldwide are main market factors that hinder the market to expand at full pace. Rising energy demand from developing countries and power-intensive industries has driven upstream oil and gas exploration companies to search deeper and farther offshore into the ocean.
Asset Integrity Management Market: Key Players
• SGS AG
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Intertek Group Plc.
• Aker Solutions
• Bureau Veritas SA
• Flour Corporation
• DNV GL AS
• John Wood Group Plc.
• Oceaneering International, Inc.
• Rosen Group
• Cybernetix Ltd
Asset Integrity Management Market: Regions
Asset Integrity Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Asset Integrity Management Market in North America held the largest market share of XX.X% in the year 2018 due to the growth of the oil and energy sectors has provided enough opportunities. Some of the factors that contributed to the growth of the asset integrity management market in this area are also government policies and regulations to protect the quality of assets and the environment. Due to the rising demand for vision-guided robotic systems, the implementation of application-specific asset integrity management systems, and government initiatives to use asset integrity management that generate opportunities for market development in Asia Pacific.
Asset Integrity Management Market report also contains analysis on:
Asset Integrity Management Market Segments:
By Service Type:
• 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
By Industry:
• Oil and gas
• Power
• Mining
• Aerospace
• Others
• Asset Integrity Management Market Dynamics
• Asset Integrity Management Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Table of Contents
1. Executive Summary
2. Asset Integrity Management Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
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3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Asset Integrity Management Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Asset Integrity Management Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Asset Integrity Management: Market Segmentation
12.1. By Regions
12.2. By Regions
12.2.1. North America:(U.S. and Canada)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa)
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Service Type: Market Share (2020-2030F)
12.2.1. Non-Destructive Testing (NDT), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Risk-Based Inspection (RBI), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. Corrosion Management, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. Pipeline Integrity Management, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.5. Hazard Identification (HAZID) Study, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.6. Structural Integrity Management, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.7. Reliability, Availability, And Maintainability (RAM), By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.8. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3 By Industry: Market Share (2020-2030F)
12.3.1. Oil and gas, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Power, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Mining, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.4. Aerospace, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. SGS AG
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
....continued
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