Non-destructive Testing (NDT) is the most preferred asset integrity management services across industries
Latest market study on “Asset Integrity Management Control Market to 2027 by Service Type (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); Industry (Oil & Gas, Power, Marine, Mining, Aerospace, and Others) – Global Analysis and Forecast”, the asset integrity management services market is estimated to reach US$ 37.92 Bn by 2027 from US$ 17.95 Bn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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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. 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 global market for asset integrity management services market provides detailed market segmentation by service type, industry, and geography. Based on service type, nondestructive (NDT) inspection segment dominate the asset integrity management service market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. On the basis of industry, oil & gas segment dominates the segment in 2018, and same is foreseen to retain its dominance throughout the forecast period. On the other hand, power segment is expected to witness a significant growth rate in the coming years. The asset integrity management service market operates in an extremely fragmented industry with huge number of smaller players capturing the market. Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction. 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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The report segments the global asset integrity management services market as follows:
Global Asset Integrity Management Services Market – By Service Type
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
Global Asset Integrity Management Services Market – By Industry
Oil & Gas
Power
Marine
Mining
Aerospace
Others
Global Asset Integrity Management Services Market – By Geography
North America, U.S., Canada, Mexico, Europe, France, Germany, Italy, Spain , UK, Russia, Rest of Europe, Asia Pacific (APAC), China, India, Japan, South Korea, Rest of APAC, Middle East and Africa (MEA), South Africa, Middle East, Rest of MEA, South America (SAM), Brazil, Argentina, Rest of SAM
TABLE OF CONTENTS
1. INTRODUCTION
1.1 SCOPE OF THE STUDY
1.2 THE INSIGHT PARTNERS RESEARCH 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)
To Be Continued…
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