Asset Integrity Management - Global Market Outlook (2017-2023)
NEW YORK, Oct. 2, 2017 /PRNewswire/ -- According to Stratistics MRC, the Global Asset Integrity Management market is expected to grow from $17.86 billion in 2016 to reach $34.94 billion by 2023 with a CAGR of 10.1%.
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Increasing awareness to mitigate capital expenditure of oil fields, growing pressure from governments to maintain quality & safety control requirements, and raise in exploration of new deep water offshore fields are some of the factors fostering the market growth. Furthermore, rapid growth in power sector and adopting new technologies are some other factors boosting the market growth during the forecast period. On the other hand, shortage of skilled professionals and unfavorable environmental situations are some of the restraints limiting the market growth.
Nondestructive Testing (NDT) Inspection is a major service type among the other services. This process is broadly applied in numerous in-service application and manufacturing industries. Oil and gas industry is heavily uses asset integrity managed services to mitigate risk and minimize operating costs. These services are apt for subsea, onshore, and offshore oil fields for maintaining safe and quality requirements.
North America region is holding the largest market revenue over the forecast period. High oil and gas exploration activities in this region impacting the North America market growth. Asia Pacific is projected to witness high growth rate during the forecast period. The growth is attributed to growing power consumption and increasing adoption of asset integrated managed services from emerging economy countries such as India, Japan, and China are driving the Asia Pacific market growth.
Some of the key players in global asset integrity management market include Aker Solutions ASA, Applus+ Servicios Tecnológicos, S.L., Bureau Veritas SA, DNV GL AS, EM&I Ltd, Fluor Corporation, Genesis Oil and Gas Consultants Ltd., Intertek Group PLC, John Wood Group PLC, Lifetech Engineering Ltd., Meridium Inc., Metegrity Inc., Oceaneering International Inc., ROSEN Swiss AG, SGS SA, and TechnipFMC plc.
Service Types Covered:
-- Corrosion Management
-- Hazard Identification (HAZID) Study
-- Reliability, Availability, and Maintainability (RAM) Study
-- Pipeline Integrity Management
-- Nondestructive Testing (NDT) Inspection
-- Risk-Based Inspection (RBI)
-- Structural Integrity Management
-- Other Service Types
End Users Covered:
-- Aerospace
-- Mining
-- Power
-- Oil and Gas
-- Other End Users
Regions Covered:
-- North America
o US
o Canada
o Mexico
-- Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
-- Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
-- South America
o Argentina
o Brazil
o Chile
o Rest of South America
-- Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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