MarkNtel Advisors recently published a detailed industry analysis of the Global Asset Integrity Management Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Asset Integrity Management Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Asset Integrity Management Market is projected to grow at a CAGR of around 5.67% during the forecast period, i.e., 2023-2028.
Key Findings in GlobalAsset Integrity Management Market:
- Historical Analysis: 2018–2021
- Base Year: 2022
- Forecast Period: 2023–2028
Leading Market Players-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)
What are the major Driver the Global Asset Integrity Management Market?
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.
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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What segments define the Global Asset Integrity Management Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
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
According to report, Amongst the two, the Offshore location held a notable market share during the past period owing to the presence of offshore oil & gas industries in the Middle East & North America region that are considerably dependent on asset management.
By End User Industries
-
- Oil & Gas
- Power
- Mining
- Chemical
- Others (Marine, Construction, Transportation, etc.)
According to report, Of them all, the oil & gas industry held a noteworthy market share in the past years owing to the soring production capacity of existing refineries & the addition of new oil & gas projects globally.
Explore the Complete Global Asset Integrity Management Market Analysis Report – https://www.marknteladvisors.com/research-library/asset-integrity-management-market.html
Geographical Analysis: Global Asset Integrity Management Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Asset Integrity Management Market Recent Development:
- 2021: Oceaneeringlaunched its autonomous underwater vehicle named ‘Freedom,’ which would help the firm to carry out inspections of different diameters pipes lying on low elevations. This development would give the company a competitive advantage in terms of increasing efficiency & accurate inspection of subsea pipes.
- 2019: Penspen, a global provider of engineering & project management services has partnered with asset risk & integrity management company, Ankaa Consulting, to expand its asset integrity management offering in the Asia region. The agreement will allow Penspen to enhance accessibility to clients in Malaysia & other Asian countries.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Asset Integrity Management Market?
- How is the Asset Integrity Management Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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