DUBLIN--(BUSINESS WIRE)--The "Global Asset Integrity Management Market with COVID-19 Impact by Service (NDT, RBI, Corrosion Management, Pipeline Integrity Management, HAZID Study, Structural Integrity Management, RAM Study), Industry, and Geography - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global asset integrity management services market size is estimated at USD 19.4 billion in 2020. It is projected to reach USD 24.2 billion by 2025; it is expected to grow at a CAGR of 4.5% from 2020 to 2025.

The major factors driving the market growth include the growing demand for asset integrity management in new offshore fields in deep waters, declining efficiencies of aging assets, and the need for securing operational safety in various industries, such as oil and gas and power. However, factors such as lack of skilled personnel for operating asset integrity management systems and software pose challenges for market growth.

COVID-19 has affected the operations and financial condition of asset integrity management service providers. The pandemic has resulted in a widespread health crisis, which is adversely affecting the financial markets and economies of countries and end-user industries. This is expected to lead to an economic downturn and negatively affect the market for asset integrity management services.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Asset Integrity Management Services Market

4.2 Asset Integrity Management Services Market, by Service Type

4.3 Asset Integrity Management Services Market, by Industry and Country

4.4 Asset Integrity Management Services Market, by Geography

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Discoveries of New Offshore Fields and Subsequent Rise in Demand for Asset Integrity Management Services

5.2.1.2 Declining Efficiencies of Aging Assets and Need for Operational Safety

5.2.1.3 Stringent Safety Regulations and Quality Control Requirements

5.2.1.4 Climatic Changes Affecting Operations of Various Industries

5.2.2 Restraints

5.2.2.1 Adverse Impact of Harsh Environmental Conditions in Middle East and Arctic Regions on Performance of ASIM Services

5.2.2.2 High Initial Cost and Complexities Associated with Installation of Asset Integrity Management Solutions

5.2.3 Opportunities

5.2.3.1 Convergence of Cloud Technology and Asset Integrity Management Services

5.2.3.2 Expanding Power Sector in Developing Countries

5.2.4 Challenges

5.2.4.1 Lack of Skilled Personnel for Operating Asset Integrity Management Systems and Software

5.3 Impact of COVID-19 on Asset Integrity Management Services Market

5.4 Value Chain Analysis

5.5 Ecosystem

5.6 Patent Analysis

5.6.1 Patents Pertaining to Asset Integrity Management Services Market

5.7 Market Regulations

5.8 Pricing Analysis

5.9 Technology Trends

5.9.1 Digitization of Asset Integrity Management

5.9.2 Non-Destructive Testing, Phased Array Ultrasonic Testing, and 3D Laser Scanning

5.9.3 Geographic Information Systems

5.9.4 Machine Learning and Advanced Analytics

5.10 Asset Integrity Management Services, by Equipment

5.10.1 Vessel, Piping, and Pressure Plant

5.10.2 Fire and Safety Systems

5.10.3 Electrical Systems

5.10.4 Rotating Equipment

5.10.5 Relief and Vent System

5.10.6 Instrumentation and Control

6 Asset Integrity Management in Various Oil and Gas Sectors (Qualitative)

6.1 Introduction

6.2 Upstream Sector

6.2.1 Case Study: North American Upstream Operator

6.3 Midstream Sector

6.3.1 Pipelines: Primary Medium for Transportation of Oil

6.3.2 Use of Ship for Transportation of Oil

6.3.3 Case Study: Large Midstream Operator Selected Asset Integrity Management Software to Run Its Inspection Data Management System (IDMS)

6.3.4 Case Study: Implementation of a Quantitative Risk Program

6.4 Downstream Sector

6.4.1 Case Study: SGS Provided Corrosion Services for a Downstream Company

6.4.2 Case Study: Texmark Chemicals Using IIoT Technologies to Create Refinery of the Future (RoTF)

7 Asset Integrity Management Service Offerings (Qualitative)

7.1 Introduction

7.2 Hardware

7.3 Software

7.4 Services

8 Asset Integrity Management Services Market, by Service Type

8.1 Introduction

8.2 NDT

8.2.1 NDT Services are Suitable in Industries Where Process Shutdown for Inspection Purposes is Uneconomical

Figure 25 NDT Methods

8.3 RBI

8.3.1 Findings of RBI Form Basis of Inspection to Formulate Further Inspection Strategies and Help Companies Achieve Smooth Flow of Operations

8.4 Corrosion Management

8.4.1 Corrosion Management Services are Adopted to Sustain and Enhance Life Assets

8.5 Pipeline Integrity Management

8.5.1 Pipelines Integrity Management Systems Maintain Operability of Pipelines

8.6 HAZID (Hazard Identification) Study

8.6.1 HAZID Study is Predominantly Performed in Oil & Gas Industry

8.7 Structural Integrity Management

8.7.1 Structural Integrity Management Ensures Required Structural Integrity Assurance from Design to Complete Decommissioning Phase

8.8 RAM Study

8.8.1 Increasing Need to Optimize Process/Equipment/System Design to Meet the Requirements with Minimum Costs, and to Generate Cost-Efficient Maintenance Plans is Expected to Drive the Market

9 Asset Integrity Management Services Market, by Industry

9.1 Introduction

9.2 Oil & Gas

9.2.1 Oil & Gas Segment Accounted for Largest Revenue Share of Asset Integrity Management Services Market

9.2.2 Plant Location of Oil & Gas Industry

9.2.3 Onshore

9.2.3.1 Growing Adoption of Robotic Systems to Offer Significant Benefits in Asset Inspection

9.2.4 Offshore

9.2.4.1 Offshore Asset Integrity Management Services Market to Grow at Highest Rate

9.2.5 Subsea

9.2.5.1 Development of New Digital Technologies to Propel Growth of Market for Oil & Gas Industry

9.3 Power

9.3.1 Market for Power Industry in APAC to Grow at Highest Rate During Forecast Period

9.3.2 Renewable Energy

9.3.2.1 NDT is Carried Out on Various Assets Involved in Renewable Energy Generation to Estimate Remaining Operational Life of Assets

9.4 Mining

9.4.1 Stringent Regulations are Forcing Mining Companies to Focus on Improving Safety and Reliability Standards

9.5 Aerospace

9.5.1 NDT Testing Plays a Critical Role in Aerospace Industry

10 Geographic Analysis

11 Competitive Landscape

11.1 Overview

11.2 Market Share Analysis of Key Players in Asset Integrity Management Services Market

11.3 Competitive Situations & Trends

11.3.1 Product Launches and Developments

11.3.2 Expansions

11.3.3 Collaborations, Partnerships, & Agreements

11.3.4 Acquisitions

12 Company Evaluation Matrix and Company Profiles

12.1 Company Evaluation Matrix, 2019

12.2 Company Profiles

12.2.1 Key Players

12.2.1.1 Aker Solutions ASA

12.2.1.2 Bureau Veritas SA

12.2.1.3 Intertek Group plc

12.2.1.4 SGS SA

12.2.1.5 TechnipFMC plc

12.2.1.6 Applus Services, SA

12.2.1.7 DNV GL

12.2.1.8 John Wood Group plc

12.2.1.9 Oceaneering International, Inc.

12.2.1.10 Fluor Corporation

12.2.2 Right to Win

12.2.3 Other Key Players

12.2.3.1 Rosen Swiss AG

12.2.3.2 Lifetech Engineering Ltd.

12.2.3.3 EM&I

12.2.3.4 Metegrity Inc.

12.2.3.5 Dacon Inspection Technologies

12.2.3.6 Force Technology Norway AS

12.2.3.7 TWI Ltd.

12.2.3.8 TUV SUD

12.2.3.9 Asset Integrity Solutions (Scotland) Limited

12.2.3.10 Bell Energy Services UK Limited

12.2.3.11 ABS Group

12.2.3.12 Velosi Asset Integrity Limited

12.2.3.13 Axess Group

12.2.3.14 Element Materials Technology

12.2.3.15 Team, Inc.

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