Asset Integrity Management Market Dynamics

Asset Integrity Management Market Dynamics – Driver, Challenge, Segment & Competition FY2028

Δημοσιευμένα 2025-03-11 21:37:38

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Markntel Advisors’ report, Asset Integrity Management Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Asset Integrity Management presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Asset Integrity Management Market Research Report & Market Summary:

The Global Asset Integrity Management market is projected to grow at a CAGR of around 5.67% during the forecast period, i.e., 2023-2028. The market growth is supported by factors such as aging equipment of industrial assets like offshore oil refineries, chemical processing plants, etc., that would require servicing, regular inspection, and proper maintenance. Additionally, the government & organizations across the globe keep on updating their standards & practices for the operations of industrial physical assets. Therefore, changing safety regulations, quality control requirements, and protocols associated with managing industrial physical assets like chemical plants, oil & gas refineries, etc., would further augment the demand for asset integrity management services in the future.

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Asset Integrity Management Market Dynamics:

Key Driver-

Surging Demand for Clean Energy to Drive the Asset Integrity Management Market - Growing demand for clean energy in a variety of industry verticals, such as steel manufacturing & ammonia production, has resulted in a significant rise in clean energy production in recent years. This could be attributed to industries' growing preference for clean energy, such as nuclear & hydrogen energy, to meet energy demand rather than petroleum-based products.

Additionally, the global commitment to zero coalition goals by 2050 is pushing governments across the world to pressure industries within their nations to adopt sustainable & clean energy. Hence, countries across the globe are increasing clean energy production capacity through nuclear, solar, and hydrogen power plants. As a result, the construction & addition of new clean energy power plants, such as nuclear & hydrogen, boosted the demand for asset integrity management services in the historical years. For instance:

In 2022, According to the Indian Government, the government planned to add nearly 15,000MW to the nation's current power-generating capacity by commissioning 20 new nuclear power plants by 2031.

Therefore, the growing number of nuclear & hydrogen power plants also affects the demand for asset integrity management services due to the nature of inherent risks involved in such facilities in the coming years. Therefore, the surging count of nuclear & hydrogen power production plants is anticipated to drive the market growth for asset integrity management services.

Asset Integrity Management Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Services

Risk-Based Inspection
Pipeline Integrity Management
Non-Destructive Testing
Corrosion Management
Structural Integrity Management
Reliability, Availability, And Maintainability Study
Others (Fitness for Service, Material Property Verification, etc.)

By Location

Onshore
Offshore

Amongst the two, the Offshore location held a notable market share during the past period owing to the presence of offshore oil & gas industries in the Middle East & North America region that are considerably dependent on asset management. The presence of subsea pipelines also contributes to the offshore segment's market share since subsea pipelines require asset integrity management firms for operations such as their maintenance & testing.

By End User Industries

Oil & Gas
Power
Mining
Chemical
Others (Marine, Construction, Transportation, etc.)

Of them all, the oil & gas industry held a noteworthy market share in the past years owing to the soring production capacity of existing refineries & the addition of new oil & gas projects globally. The surging demand for energy for household & industrial consumption is accelerating the production of oil & gas, resulting in an increased requirement for asset integrity management services.

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific.

Of all the regions across the globe, the Middle East & Africa holds a significant market share owing to the presence of numerous oil & gas stations, which require the heavy assistance of consultancy firms to provide asset integrity management. In addition, the growth of oil & gas projects could be attributed, owing to the growing demand for these products for domestic consumption & export to the countries in need. Consequently, this resulted in enhancing production by setting up more refineries & midstream projects to transport from production sites to end-user sites. This ultimately augmented the demand for asset integrity management services to manage risks & other operational aspects of refineries.

As indicated in the latest market research report published by Markntel Advisors, “Asset Integrity Management Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Asset Integrity Management industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/asset-integrity-management-market.html

Top Companies Operating in the Asset Integrity Management Market:

Aker Solutions ASA
Applus+ Group
Bureau Veritas S.A.
DNV GL
EM&I Group
Fluor
Intertek Group PLC
John Wood Group
LifeTech Engineering Ltd.
Metegrity, Inc.
Oceaneering International
ROSEN Swiss AG
SGS S.A.
TechnipFMC plc
TÜV SÜD
Others (Mistras Group Inc., Asset Integrity Engineering, etc).

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Other Report:

Waste to Energy Market size was valued at USD 41Billion in 2023 and is projected to grow at a CAGR of around 6% during the forecast period 2024-2030.
Saudi Arabia Oilfield Chemicals Market size is valued at around USD95Billion in 2024 and is projected to reach around USD 1.38 Billion by 2030. Along with a CAGR of around 5%.

Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

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