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Asset Integrity Management Market Growth Ahead Experts Predict Surging Demand

Asset Integrity Management Market Growth Ahead Experts Predict Surging Demand

The recent “Asset Integrity Management Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Asset Integrity Management Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Asset Integrity Management Market Analysis and Growth Forecast:

Global Asset Integrity Management Market is valued approximately USD 20.30 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.9% over the forecast period 2022-2028. Asset Integrity Management (AIM) is a term referred to the practice of managing an asset such as an oil rig, power plant, refinery, etc. that ensures the ability to carry out their function proficiently. AIM offers various advantages such as reduced risks of accidents, boosts reliability, safety and also enhancing environmental performances. The growing need for quality control, execution of stringent safety regulations, climatic changes give rise to operational disturbances across industries, growth of the oil & gas sector in emerging nations is the primary factor that is surging the market demand across the globe.

For instance, according to India Brand Equity Foundation (IBEF), in October 2019, the Indian Ministry of Petroleum and Natural Gas has invested approximately USD 118 billion in oil & gas exploration, as well as in establishing natural gas infrastructure to meet the need of a growing economy. Accordingly, rising investments for the development of oil & gas sectors are fueling the demand for the asset integrity market, thus, in turn, accelerating the market growth in the near future. However, high initial costs and complexities with installation and lack of skilled workforce to manage asset integrity management systems and software impede the growth of the market over the forecast period of 2022-2028. Also, the increasing demand for renewable sources of energy and climatic changes give rise to operational disturbances across industries is anticipated to act as a catalyzing factor for the market demand during the forecast period.

Major market players included in this report are:

Bureau Veritas Pvt. Ltd.
Intertek Group PLC
TechnipFMC PLC
Aker Solutions ASA
Rosen Swiss AG
WorleyParsons Ltd.
Metegrity Inc.
John Wood Group PLC
Asset Integrity Solutions Limited

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The detailed segments and sub-segment of the market are explained below:

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

By Industry
Oil & gas

By Region:

North America
Asia Pacific
South Korea
Latin America
Rest of the World

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Report Components 

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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