According to Markntel Advisors Report, Asset Integrity Management Market is expected to grow at a significant growth rate, and the analysis period is 2023-2028, considering the base year as 2022.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Asset Integrity Management (AIM) is the term used to describe the practice of managing an asset to ensure its capacity to perform its function efficiently. The term asset in asset integrity management generally refers to industrial assets, which are physical such as oil refineries, electrical power generation plants, or chemical processing plants. The asset integrity management market includes companies providing services to manage systems, processes, resources, structural integrity management, etc., necessary for an industrial asset. AIM services are usually deployed in high-risk areas to ensure compliance with regulations, protocols, and the environmental safety of the organization & individual.

 

Global Asset Integrity Management Market Research Report & 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.                        

Time Period Captured in the Report:

• Historical Years: 2018-21
• Base Years: 2022
• Forecast Years: 2023-28

Who are the Key Players Operating in the Asset Integrity Management Market?

The top companies of the Asset Integrity Management Market ruling the industry are: 

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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What is Included in Asset Integrity Management Market Segmentation?

The Asset Integrity Management Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• 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
• By End User Industries
  • Oil & Gas
  • Power
  • Mining
  • Chemical
  • Others (Marine, Construction, Transportation, etc.)
• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

 

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Global 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. 

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