HOME Press Releases Asset Integrity Management Market worth 31.66 Billion USD by 2023



Asset Integrity Management Market worth 31.66 Billion USD by 2023


According to the new market research report "Asset Integrity Management Market by Service (RBI, Ram Study, Corrosion Management, Pipeline Integrity Management, Hazid Study, Structural Integrity Management, NDT), Industry, and Geography - Global Forecast to 2023", the asset integrity management services market is expected to be valued at USD 31.66 Billion by 2023, at a CAGR of 8.7% between 2017 and 2023.

Browse 69 Market Data Tables and 70 Figures spread through 187 Pages and in-depth TOC on "Asset Integrity Management Market - Global Forecast to 2023"
http://www.marketsandmarkets.com/Market-Reports/asset-integrity-management-market-7798221.html
Early buyers will receive 10% customization on reports.

Factors that are driving the growth of the market include the necessity of asset integrity management in new offshore fields in deep waters; declining efficiencies of aging assets and the need for operational safety; stringent government safety regulations and quality control requirements; climatic changes affecting the operations of various industries; and declining oil and gas prices increase the demand for maintaining the asset and plant.

NDT inspection to hold largest size of in asset integrity management services market during forecast period

NDT processes are used in various manufacturing industries, and fabrication and in-service inspection applications to ensure product integrity and reliability, control manufacturing processes, lower production costs, and maintain a uniform quality level. NDT is important in the plants where process shutdowns for inspection purposes is not feasible, and any destruction or disturbance to asset for the same purpose is not affordable. The most frequently used test methods for NDT include magnetic particle testing (MT), liquid penetrant testing (PT), radiographic testing (RT), ultrasonic testing (UT), electromagnetic testing (ET), and visual testing (VT).

Oil and gas industry to hold largest size of asset integrity management services market by 2017

The oil and gas industry is associated with a great level of risk due to its complexity and involvement of huge natural reserves and finances. The effective and efficient performance of assets in the oil and gas industry is a must to ensure safe and reliable operations while achieving profits. The asset integrity management services can be applied to all types of assets including downhole, wellhead, subsea, pipelines, topside process, load-bearing structures, and floaters. It is involved in all the stages of the oil and gas industry, including design, commissioning, operations, and decommissioning.

Asset integrity management services market in APAC to grow at highest CAGR between 2017 and 2023

APAC consists of most of the developing countries such as India, China, Malaysia, and South Korea. China is one of the fastest-growing economies in the world according to the announcement made by International Monetary Fund (IMF) in 2017. It is also a manufacturing hub for various industries such as electronics, oil and gas, and aerospace, and their production activities require a lot of energy and power. The Asset Management Association of China (AMAC) was established in June 2012 with primary objectives of providing services to the industry by encouraging the communication, innovation, professionalism, and competitiveness, and providing a communication platform between the government and the industry. India was the third-largest energy consumer in the world in 2013, next to China and the US. Owing to the lower domestic production and higher imports in India, the refining of these crude oil products in the most efficient and optimum manner becomes utmost necessary. Continuous operations of these refineries and integration of various systems and instruments in these refineries are ensured with the use of asset integrity management services.

The major players in the asset integrity management services market are SGS SA (Switzerland), Bureau Veritas SA (France), Intertek Group plc (UK), Fluor Corporation (US), Aker Solutions ASA (Norway), Applus+ Servicios Technológicos, S.L. (Spain), DNV GL AS (Norway), John Wood Group PLC (UK), Oceaneering International Inc. (US), ROSEN Swiss AG (Switzerland), and TechnipFMC plc (UK).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports