Global Asset Integrity Management Services Market to Reach $37.92 Billion by 2027 - Key Analysis by Service Type, Industry and Geography
DUBLIN, May 9, 2019 /PRNewswire/ -- The "Asset Integrity Management Services Market to 2027 - Global Analysis and Forecasts by Service Type, and Industry" report has been added to ResearchAndMarkets.com's offering.
The global asset integrity management service market accounted for US$ 17.95 Bn in 2018 and is expected to grow at a CAGR of 8.9% over the forecast period 2019-2027, to account for US$ 37.92 Bn in 2027.
The major influential factor for the asset integrity management service market to upsurge in the current market scenario and over the next couple of years are rising demand for operational safety of aging assets in risk-based industries and stringent rules and regulations imposed upon various industries related to environmental sustainability.
However, the cost involved in non-value added maintenance and improper operation is a key deterrent to the asset integrity management service market growth.
Nevertheless, the asset integrity management service market is poised to witness upswing in the coming years, owing to the constantly rising number of oil & gas companies across the globe is anticipated to stimulate the demand for various types of asset integrity management services, which is expected to create significant revenue generation stream in asset integrity management services market in the coming years.
Asset integrity management services market is anticipated to witness a high growth during the coming years. This is attributed to various factors including an increase in the need for operational safety of aging assets in risk-based industries and strict government safety regulations.
Furthermore, the surge in the size of the oil & gas industry with an increase in demand for oil & gas is expected to provide substantial growth opportunity to the market players in near future. However, the cost involved in non-value added maintenance and improper operation is hampering the growth of asset integrity management services market to a certain extent.
On basis of service type segment, the non-destructive (NDT) inspection segment led the global asset integrity management services market in 2018, and the same is anticipated to maintain its dominance throughout the forecast period from 2019-2027. On the other hand, corrosion management segment is foreseen to experience significant growth rate in the asset integrity management service market, owing to the fact that a large amount of the unforeseen incidents that occur in process plants are associated with either erosion or corrosion of the structure or equipment. Corrosion management is therefore essential in order to maintain the integrity of the facility, increasing the level of safety as well as improving cost-efficiency.
Similarly, on basis of industry segment, the asset integrity management service market is categorized as oil & gas, power, marine, mining, aerospace, and others. The oil & gas segment accounted for the largest market share in 2018, and the same is expected to continue dominating the global asset integrity management service market throughout the forecast period from 2019-2027. However, the power segment is estimated to be the fastest growing segment from 2019-2027 in the global asset integrity management service market.
The key companies operating in the global asset integrity management service market are 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.
The asset integrity management service market is concentrated with various other players facilitating several industries to maintain their assets over the years, thereby, helping the asset integrity management service market to propel year on year.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
2. Key Takeaways
3. Asset Integrity Management Services Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Global Asset Integrity Management Services Market - by Service Type
3.2.2 Global Asset Integrity Management Services Market - by Industry
3.2.3 Global Asset Integrity Management Services Market - by Geography
3.3 Pest Analysis
3.3.1 North America Pest Analysis
3.3.2 Europe Pest Analysis
3.3.3 Asia Pacific Pest Analysis
3.3.4 Middle East & Africa Pest Analysis
3.3.5 South America Pest Analysis
4. Asset Integrity Management Services Market - Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Increase In Need For Operational Safety of Ageing Assets In Risk-Based Industries
4.1.2 Stringent Government Safety Regulations
4.2 Key Market Restraints
4.2.1 Cost Involved In Non-Value Added Maintenance and Improper Operation
4.3 Key Market Opportunities
4.3.1 Surge In Size of Oil & Gas Industry With Increase In Demand For Oil & Gas
4.4 Future Trend
4.4.1 Development of Comprehensive Asset Integrity Management System
4.5 Impact Analysis of Drivers & Restraints
5. Asset Integrity Management Services Market - Global Analysis
5.1 Overview
5.2 Global Asset Integrity Management Services Market Revenue and Forecasts To 2027 (US$ Bn)
6. Asset Integrity Management Services Market Revenue and Forecasts To 2027 - Service Type
6.1 Overview
6.2 Asset Integrity Management Services Market Breakdown, by Service Type, 2018 & 2027
6.3 Risk-Based Inspection (RBI) Market
6.4 Forensic Engineering and Failure Analysis Services Market
6.5 Structural Integrity Management Market
6.6 Corrosion Management Market
6.7 Pipeline Integrity Management Market
6.8 Hazard Identification (HazID) Study Market
6.9 Reliability-Availability-Maintainability (RAM) Study Market
6.10 Non-Destructive Testing (NDT) Inspection Market
7. Asset Integrity Management Services Market Revenue and Forecasts To 2027 - Industry
7.1 Overview
7.2 Asset Integrity Management Services Market Breakdown, by Industry, 2018 & 2027
7.3 Oil & Gas Market
7.4 Power Market
7.5 Mining Market
7.6 Aerospace Market
7.7 Marine Market
7.8 Others Market
8. Asset Integrity Management Services Market Revenue and Forecasts To 2027 - Geography
8.1 Overview
8.2 North America Asset Integrity Management Services Market Revenue and Forecasts To 2027
8.3 Europe Asset Integrity Management Services Market Revenue and Forecasts To 2027
8.4 APAC Asset Integrity Management Services Market Revenue and Forecasts To 2027
8.5 Middle East & Africa (MEA) Asset Integrity Management Services Market Revenue and Forecasts To 2027
8.6 SAM Asset Integrity Management Services Market Revenue and Forecasts To 2027
9. Industry Landscape
9.1 Market Initiative
9.2 Merger and Acquisition
9.3 New Development
10. Competitive Landscape
10.1 Competitive Product Mapping
10.2 Market Positioning - Global Top 5 Players Ranking
11. Company Profiles
11.1 SGS AG
11.2 Intertek Group PLC
11.3 Aker Solutions
11.4 Bureau Veritas S.A.
11.5 Fluor Corporation
11.6 DNV GL AS
11.7 John Wood Group PLC
11.8 Oceaneering International Inc.
11.9 Rosen Group
11.10 Cybernetix Ltd.
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