Asset Integrity Management Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type and Industry (Oil & Gas, Power, Marine, Mining, Aerospace, and Others)

Description

List of Tables

The asset integrity management market was valued at US$ 3.33 billion in 2022 and is expected to reach US$ 6.73 billion by 2030; it is estimated to record a CAGR of 9.2% from 2022 to 2030. The asset integrity management market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases.

The asset integrity management market report emphasizes the key factors driving the market and prominent players' developments. According to asset integrity management market analysis, rising safety and security concerns of patients and staff and growth in e-commerce industry are among the factors contributing to the growing market size.

The constant operations of the refineries present across Asia Pacific and the incorporation of numerous novel systems and equipment in these refineries are expected to increase the demand for asset integrity management software, and fuels the asset integrity management market growth. The implementation of such software ensures environmental sustainability and overall security of the operating premises. Moreover, various countries in the region are emphasizing the net-zero policy. The Government of India aims to build more nuclear power facilities to increase the country's clean energy production. As of December 2022, the government gave administrative and financial authority to construct ten domestically designed, pressurized heavy water reactors (PHWRs) in fleet mode. Thus, the construction of such plants will demand for the asset integrity management to streamline the operations across plants, which propels the asset integrity management market share of Asia Pacific.

As the MEA is home to several oil-producing companies with robust infrastructure, the requirement for asset integrity management software has increased in order to manage this infrastructure, which further drives the asset integrity management market. Mellitah Oil & Gas, Libya's largest oil business, relies on robust and established platforms to maintain asset integrity and lifecycles. Further, the increasing demand for comprehensive services for managing and controlling asset performance among industries in South & Central America is propelling the asset integrity management market growth. Furthermore, significant initiatives taken by the government to advance power distribution facilities, particularly in all the key economies of South America, are driving the market. For instance, in September 2022, the government of Peru announced that five solar power plants with a total capacity of 600 MW started their operation in June 2023.

The advancement of digital technology has evolved the landscape of maintenance and operations for plants as well as facilities in oil & gas, power generation, petrochemical, pharmaceutical, and other asset-intensive industries. The total automation driven by the Industrial Internet of Things (IIoT) includes integrating of plant, logistics, and supply chain management with the process of planning and producing optimally. The Internet of Things enables unprecedented interconnection of physical assets and data collection systems. An asset integrity management software or platform, which is designed to consolidate all integrity information on industrial equipment, is the single source. IIoT improves asset integrity management software capacity of managing things efficiently. Thus, the integration of IIoT with asset integrity management software is expected to fuel the asset integrity management market size in the coming years.

According to World Nuclear Association data, as of September 2020, Asia's electricity generation capacity, specifically nuclear power generation, is increasing tremendously. There are approximately 135 operational nuclear reactors in this region, with ~35 under construction; additionally, corporations aim to build 60-70 in the coming years. As the number of nuclear power plants grows, the demand for the machines utilized in these plants will also grow, encouraging asset integrity management market players and NDT firms to develop advanced solutions. Moreover, as of August 2023, the US has established 93 operating commercial nuclear reactors at 54 nuclear power plants across 28 states. With a planned net summer electricity generation capacity of ~1,117 MW-it is nearing completion at the Vogtle 4 nuclear plant in Georgia and is projected to enter service by early 2024. The growing number of power plants is creating a demand for asset integrity management software, further driving asset integrity management market.

The asset integrity management software supports the power plant's operation, maintenance, capital improvement, and cost of cycling evaluations. The power and utilities industries face formidable challenges in maintaining asset integrity, ensuring reliability, and adhering to stringent regulatory standards. Asset integrity management software helps the power industry smoothen its operations while reducing risk. Thus, the growing nuclear power industries across several countries are likely to create opportunities for the asset integrity management market during the forecast period.

Product Code: TIPTE00002618

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Asset Integrity Management Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain

5. Asset Integrity Management Market - Key Market Dynamics

5.1 Asset Integrity Management Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Increase in Need for Operational Safety of Aging Assets in Risk-Based Industries
- 5.2.2 Stringent Government Safety Regulations
- 5.2.3 Rising Adoption of Growth Strategies by Market Players
5.3 Market Restraints
- 5.3.1 Cost Involved in Non-Value-Added Maintenance and Improper Operation
5.4 Market Opportunities
- 5.4.1 Expansion of Oil & Gas Industry
- 5.4.2 Growth in Nuclear Power Industry
5.5 Future Trend
- 5.5.1 Integration of Digital Twin and IIoT with Asset Integrity Management Software
5.6 Impact of Drivers and Restraints:

6. Asset Integrity Management Market - Global Market Analysis

6.1 Asset Integrity Management Market Revenue (US$ Million), 2022-2030
6.2 Asset Integrity Management Market Forecast Analysis

7. Asset Integrity Management Market Analysis - by Service Type

7.1 Non-Destructive Testing (NDT) Inspection
- 7.1.1 Overview
- 7.1.2 Non-Destructive Testing (NDT) Inspection: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
7.2 Corrosion Management
- 7.2.1 Overview
- 7.2.2 Corrosion Management: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
7.3 Pipeline Integrity Management
- 7.3.1 Overview
- 7.3.2 Pipeline Integrity Management: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Structural Integrity Management
- 7.4.1 Overview
- 7.4.2 Structural Integrity Management: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Risk-Based Inspection (RBI)
- 7.5.1 Overview
- 7.5.2 Risk-Based Inspection (RBI): Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)

8. Asset Integrity Management Market Analysis - by End-user

8.1 Oil and Gas
- 8.1.1 Overview
- 8.1.2 Oil and Gas: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Power
- 8.2.1 Overview
- 8.2.2 Power: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Marine
- 8.3.1 Overview
- 8.3.2 Marine: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Mining
- 8.4.1 Overview
- 8.4.2 Mining: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Aerospace
- 8.5.1 Overview
- 8.5.2 Aerospace: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)

9. Asset Integrity Management Market - Geographical Analysis

9.1 Overview
9.2 North America
- 9.2.1 North America Asset Integrity Management Market Overview
- 9.2.2 North America: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
- 9.2.3 North America: Asset Integrity Management Market Breakdown, by Service Type
  - 9.2.3.1 North America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Service Type
- 9.2.4 North America: Asset Integrity Management Market Breakdown, by End-user
  - 9.2.4.1 North America: Asset Integrity Management Market - Revenue and Forecast Analysis - by End-user
- 9.2.5 North America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.1 North America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.2.5.2 United States: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.2.5.2.1 United States: Asset Integrity Management Market Breakdown, by Service Type
    - 9.2.5.2.2 United States: Asset Integrity Management Market Breakdown, by End-user
  - 9.2.5.3 Canada: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.2.5.3.1 Canada: Asset Integrity Management Market Breakdown, by Service Type
    - 9.2.5.3.2 Canada: Asset Integrity Management Market Breakdown, by End-user
  - 9.2.5.4 Mexico: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.2.5.4.1 Mexico: Asset Integrity Management Market Breakdown, by Service Type
    - 9.2.5.4.2 Mexico: Asset Integrity Management Market Breakdown, by End-user
9.3 Europe
- 9.3.1 Europe Asset Integrity Management Market Overview
- 9.3.2 Europe: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.3 Europe: Asset Integrity Management Market Breakdown, by Service Type
  - 9.3.3.1 Europe: Asset Integrity Management Market - Revenue and Forecast Analysis - by Service Type
- 9.3.4 Europe: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.4.1 Europe: Asset Integrity Management Market - Revenue and Forecast Analysis - by End-user
- 9.3.5 Europe: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.1 Europe: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.3.5.2 Germany: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.2.1 Germany: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.2.2 Germany: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.5.3 United Kingdom: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.3.1 United Kingdom: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.3.2 United Kingdom: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.5.4 France: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.4.1 France: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.4.2 France: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.5.5 Italy: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.5.1 Italy: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.5.2 Italy: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.5.6 Russian Federation: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.6.1 Russian Federation: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.6.2 Russian Federation: Asset Integrity Management Market Breakdown, by End-user
  - 9.3.5.7 Rest of Europe: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.3.5.7.1 Rest of Europe: Asset Integrity Management Market Breakdown, by Service Type
    - 9.3.5.7.2 Rest of Europe: Asset Integrity Management Market Breakdown, by End-user
9.4 Asia Pacific
- 9.4.1 Asia Pacific Asset Integrity Management Market Overview
- 9.4.2 Asia Pacific: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
- 9.4.3 Asia Pacific: Asset Integrity Management Market Breakdown, by Service Type
  - 9.4.3.1 Asia Pacific: Asset Integrity Management Market - Revenue and Forecast Analysis - by Service Type
- 9.4.4 Asia Pacific: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.4.1 Asia Pacific: Asset Integrity Management Market - Revenue and Forecast Analysis - by End-user
- 9.4.5 Asia Pacific: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.1 Asia Pacific: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.4.5.2 China: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.2.1 China: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.2.2 China: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.5.3 Japan: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.3.1 Japan: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.3.2 Japan: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.5.4 South Korea: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.4.1 South Korea: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.4.2 South Korea: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.5.5 India: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.5.1 India: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.5.2 India: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.5.6 Australia: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.6.1 Australia: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.6.2 Australia: Asset Integrity Management Market Breakdown, by End-user
  - 9.4.5.7 Rest of APAC: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.4.5.7.1 Rest of APAC: Asset Integrity Management Market Breakdown, by Service Type
    - 9.4.5.7.2 Rest of APAC: Asset Integrity Management Market Breakdown, by End-user
9.5 Middle East and Africa
- 9.5.1 Middle East and Africa Asset Integrity Management Market Overview
- 9.5.2 Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
- 9.5.3 Middle East and Africa: Asset Integrity Management Market Breakdown, by Service Type
  - 9.5.3.1 Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast Analysis - by Service Type
- 9.5.4 Middle East and Africa: Asset Integrity Management Market Breakdown, by End-user
  - 9.5.4.1 Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast Analysis - by End-user
- 9.5.5 Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.1 Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.5.5.2 Saudi Arabia: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.5.5.2.1 Saudi Arabia: Asset Integrity Management Market Breakdown, by Service Type
    - 9.5.5.2.2 Saudi Arabia: Asset Integrity Management Market Breakdown, by End-user
  - 9.5.5.3 United Arab Emirates: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.5.5.3.1 United Arab Emirates: Asset Integrity Management Market Breakdown, by Service Type
    - 9.5.5.3.2 United Arab Emirates: Asset Integrity Management Market Breakdown, by End-user
  - 9.5.5.4 South Africa: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.5.5.4.1 South Africa: Asset Integrity Management Market Breakdown, by Service Type
    - 9.5.5.4.2 South Africa: Asset Integrity Management Market Breakdown, by End-user
  - 9.5.5.5 Rest of Middle East and Africa: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.5.5.5.1 Rest of Middle East and Africa: Asset Integrity Management Market Breakdown, by Service Type
    - 9.5.5.5.2 Rest of Middle East and Africa: Asset Integrity Management Market Breakdown, by End-user
9.6 South and Central America
- 9.6.1 South and Central America Asset Integrity Management Market Overview
- 9.6.2 South and Central America: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
- 9.6.3 South and Central America: Asset Integrity Management Market Breakdown, by Service Type
  - 9.6.3.1 South and Central America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Service Type
- 9.6.4 South and Central America: Asset Integrity Management Market Breakdown, by End-user
  - 9.6.4.1 South and Central America: Asset Integrity Management Market - Revenue and Forecast Analysis - by End-user
- 9.6.5 South and Central America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.1 South and Central America: Asset Integrity Management Market - Revenue and Forecast Analysis - by Country
  - 9.6.5.2 Brazil: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.6.5.2.1 Brazil: Asset Integrity Management Market Breakdown, by Service Type
    - 9.6.5.2.2 Brazil: Asset Integrity Management Market Breakdown, by End-user
  - 9.6.5.3 Argentina: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.6.5.3.1 Argentina: Asset Integrity Management Market Breakdown, by Service Type
    - 9.6.5.3.2 Argentina: Asset Integrity Management Market Breakdown, by End-user
  - 9.6.5.4 Rest of South and Central America: Asset Integrity Management Market - Revenue and Forecast to 2030 (US$ Million)
    - 9.6.5.4.1 Rest of South and Central America: Asset Integrity Management Market Breakdown, by Service Type
    - 9.6.5.4.2 Rest of South and Central America: Asset Integrity Management Market Breakdown, by End-user

10. Asset Integrity Management Market - Impact of COVID-19 Pandemic

10.1 Pre & Post COVID-19 Impact

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative

13. Company Profiles

13.1 SGS SA
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Intertek Group Plc
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Aker Solutions ASA
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Bureau Veritas SA
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Fluor Corp
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 DNV Group AS
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 John Wood Group Plc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 ROSEN Group
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 TechnipFMC plc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Oceaneering International Inc
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Word Index