Press release
Oilfield Integrity Management Market: Professional Survey Report By Product, Manufacturers And Sales Data By 2033
Oilfield Integrity Management Market
The Business Research Company presents an extensive market research report on the Oilfield Integrity Management Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The oilfield integrity management market size has grown strongly in recent years. It will grow from $15.75 billion in 2023 to $16.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to data utilization for decision making, asset downtime reduction, investment in research and development, safety and environmental concerns, digitalization initiatives, asset performance optimization..
The oilfield integrity management market size is expected to see strong growth in the next few years. It will grow to $22.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to continuous training and skill development, sustainability and esg initiatives, predictive corrosion monitoring, integration of blockchain, cybersecurity measures.. Major trends in the forecast period include asset digitization, predictive maintenance, remote monitoring solutions, risk-based inspection (rbi), data analytics and big data..
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Key Market Players:
Major companies operating in the oilfield integrity management market report are Schlumberger Limited, Halliburton Company, Baker Hughes Company, Siemens AG, Emerson Electric Co., International Business Machines Corporation, Oracle Corporation, Aker Solutions ASA, John Wood Group PLC., SGS SA, Oceaneering International Inc., Weatherford International PLC., Intertek Group PLC., Applus+, Honeywell International Inc., TechnipFMC, Bureau Veritas, DNV GL, Lloyd's Register Group Services Limited, Det Norske Veritas, GE Oil & Gas, National Oilwell Varco, Cameron International Corporation, FMC Technologies, Parker Hannifin Corporation, Eaton Corporation, Pentair plc, Flowserve Corporation, WorleyParsons Ltd.
Market Drivers:
The increase in demand from the oil and gas industry is driving the demand for the oilfield integrity management market. The oil and gas operator uses oilfield integrity management to perform a structured examination of the asset's integrity and capabilities management to increase the chances of success over the long run. For instance, according to the report published by International Energy Agency (IEA), a France-based inter-governmental organization, in 2021, global oil consumption is anticipated to increase by 4.4 mb/d (millions of barrels per day) from 2019 levels to 104.1 mb/d by 2026. Therefore, the increase in demand from the oil and gas industry will propel the oilfield integrity management market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/oilfield-integrity-management-global-market-report
The oilfield integrity management market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Type: Planning, Predictive Maintenance And Inspection, Data Management, Corrosion Management, Monitoring System, Other Types
3) By Application: Onshore, Offshore
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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