Asset Integrity Management Services Market Outlook to 2027 - John Wood Group, Aker Solutions ASA, Bureau Veritas SA, Oceaneering International, Fluor Corporation, DNV GL AS

Asset management is the significant part for asset-intensive industries and t plays a vital role in determining safety, operational performance, and profitability for the industry by selection, maintenance, inspection, and renewal of the required asset integrity management services. These services are largely employed in a wide range of industries mainly oil & gas, power, and mining in order to maximize return on assets and reducing the risks associated with accidents and loss of production. The implementation of these services of maintains company’s asset in fir-for-service ensuring technical integrity, safety, reliability, and regulatory compliance.

The major companies offering asset integrity management services to different industries include SGS AG, Intertek Group plc, Aker Solutions ASA, Bureau Veritas SA, Fluor Corporation, DNV GL AS, John Wood Group PLC, Oceaneering International, Inc., Rosen Group, and Cybernetix SA among others. Several other companies are also offering these services to different industries which is facilitating the asset integrity management services market to propel over the years.

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Key Benefits-
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Asset Integrity Management Services Market.
- To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

The regulations in the oil & gas, mining, marine and power industry are employed for major objectives of protecting the environment, conserving natural resources, and protecting workers & public’s health and safety. Therefore, several mining, oil & gas, power, marine, and other related industries have to comply with several emission standards for the equipment, health & safety requirements and control operational malfunction. Thus, companies are more inclined towards the adoption of asset management services for equipment maintenance and inspection to avoid equipment failure.

The demand for NDT testing is consistently high across industries in the developing countries and developed nation attributing to the fact that, the procedure provides enhanced reports with higher accuracy, reliable data and improved probability of detection (PoD). Additionally, the easy affordability factor of NDT testing / inspection helps the industries to opt for the same. Moreover, this type of inspection facilitates the end user to replace or repair the machinery or the asset prior to its breakdown or malfunction. Pertaining to the fact that, several industries are increasing their operations production facilities across the globe, is catalyzing the demand for Non-destructive inspection segment, as the companies offering NDT inspection are being awarded with increased number of contracts, thereby creating substantial market space in the recent scenario.

The major industries contributing to growth of the market includes oil & gas, power, mining, marine, and aerospace. However, some of the other industries like chemical, transportation and logistics also hold a substantial share in the AIM market. The robust growth in population and migration, along with increasing urbanization and climate change are expected to impose strains over the assets to meet the dramatically increasing demand of energy, utilities and commodities. The trend is expected to fuel the demand for asset integrity management systems across various industries.

The asset integrity management service market is segmented on basis of different types of services such as Non-Destructive Testing (NDT) Inspection, Corrosion Management, Pipeline Integrity Management, Structural Integrity Management, Risk-Based Inspection (RBI), Hazard Identification (HAZID) Study, Reliability-Availability-Maintainability (RAM) Study, Forensic Engineering, and Failure Analysis Services. The NDT inspection have a wide area of application owing to their ability to provide assessment without creating any disturbance to the ongoing processes or destructing the assets. Major industrial facades including energy & power plants, and on-shore and off-shore oil & gas productions. However, ageing infrastructure not only of industrial equipment by also of the civil structures such as water supply pipelines, buildings, manufacturing hubs among others are expected to increasingly drive the demand for corrosion management AIM services

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Some major points covered in this Asset Integrity Management Services Market report:
1. An overall outlook of the market that helps in picking up the essential data about the market.
2. The market has been segmented on the basis of the product types, applications, end-users, as well as the industry verticals, in light of numerous factors. Considering the market segmentation, further analysis has been carried out in an effective manner. For better understanding and an in-depth analysis of the market, the key segments have further been partitioned into sub-segments.
3. In the next portion, factors responsible for the growth of the market have been included. This information has been collected from the primary and secondary sources and has been approved by the industry specialists. It helps in understanding the key market segments and their future trends.
4. The report also includes the study of the latest developments and the profiles of key industry players.
5. The Asset Integrity Management Services market research report also presents an eight-year forecast on the basis of how the market is predicted to grow.

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