United State – Global Asset Integrity Management Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Asset Integrity Management market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global asset integrity management market size was US$ 22.1 billion in 2021. The global asset integrity management market is forecast to grow to US$ 51.3 billion by 2030 by registering a compound annual growth rate (CAGR) of 11.1% during the forecast period from 2022 to 2030.
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Asset integrity management (AIM) guarantees that an asset’s planned performance is achieved in a cost-effective and efficient manner. It handles the risk of failures and occurrences during facility design, construction, and operation. In addition to human life, it encourages optimal production and environmental protection. Asset integrity management is used by a variety of industries, including oil and gas, mining, and electricity, to assure asset reliability, safety, regulatory compliance, and technical integrity.
Factors Influencing the Market
The global asset integrity management market is expected to rise as oil and gas prices fall, which will surge the demand for the maintenance of company plants and assets across various industries.
New offshore fields that necessitate asset integrity management in deep waters could potentially boost industry growth. Non-destructive testing (NDT) inspection is predicted to become a major service in the next years, with a large market share. It has long been regarded as one of the most important methods for assessing and identifying subsurface and surface flaws.
Asset integrity management services could be quite useful in the industry for keeping track of maintenance standards and speeding up inspection processes. Asset integrity management may become more important in the near future as people become more aware of the importance of minimizing capital outlay in oil fields.
Despite the fact that some of the global asset integrity management market’s major competitors may face difficulties in their operations, particular strategies such as acquisitions, expansions, contracts, partnerships, and new releases are expected to benefit the market during the study period.
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COVID-19 Impact Analysis
The COVID-19 pandemic has drastically lowered the demand for power in the industrial sector, which ultimately affected the global asset integrity management market. As a result of the viral spread, governments all over the world were forced to cut back on business activity, which halted the market growth. Asset inspection and repair work across the plant has been put on hold, with the exception of high-priority production-related assets.
Regional Analysis
North America is forecast to hold the highest market share in the asset integrity management market, owing to the region’s growing oil and energy sectors. Thus, it will offer several growth opportunities for the asset integrity management market. In addition to that, favourable government policies and regulations aimed at protecting the quality of assets and the environment will contribute to the growth of the asset integrity management market. Further, the rising demand for vision-guided robotic systems and the implementation of application-specific asset integrity management systems will also contribute to the growth of the asset integrity management market during the study period.
Competitors in the Market
? SGS AG
? Intertek Group Plc.
? Aker Solutions
? Bureau Veritas SA
? Flour Corporation
? DNV GL AS
? John Wood Group Plc.
? Oceaneering International, Inc.
? Rosen Group
? Cybernetics Ltd
? Other Prominent Players
Market Segmentation
The global asset integrity management market segmentation focuses on Service, Industry, and Region.
By Service Type:
? Non-Destructive Testing (NDT)
? Risk-Based Inspection (RBI)
? Corrosion Management
? Pipeline Integrity Management
? Hazard Identification (HAZID) Study
? Structural Integrity Management
? Reliability, Availability, And Maintainability (RAM) study
? Others
By Industry:
? Oil and gas
? Power
? Mining
? Aerospace
? Others
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
Key questions answered in the global Asset Integrity Management market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Asset Integrity Management market over the forecast period?
- What are the factors driving and restraining the market for Asset Integrity Management?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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