Global asset integrity management market is anticipated to grow at a significant CAGR of 13.1% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of digitalization and data analytics, remote monitoring and inspection, and asset performance management in the main industries such as manufacturing aerospace, oil & gas, and power generationglobally driving the growth of the market.Asset integrity management optimizes and implements an effective asset integrity management system for all asset types, including down-hole, wellhead, subsea, pipelines, topside processes, load-bearing structures, and floaters.For instance, in April 2022, TÜV SÜD and ioMosaic collaborated for risk management and process safety. The collaboration benefits the customers of both companies, delivering them a wider range of services plus additional digital applications, substantially increased laboratory capacity, broader training offers, and added training expertise. TÜV SÜD’s highly renowned expertise in the field of process safety is supplemented by TIC services in the field of asset integrity management, certifications of pressure equipment, and certifications of functional safety.
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Industrial asset integrity management encompasses strategies, processes, and technologies to ensure critical assets’ reliability, safety, and efficiency in industries such as oil and gas, manufacturing, and utilities. For instance, in March 2024, ROSEN Group introduced a redesigned website with a renewed corporate design to provide an enhanced user experience, and greater accessibility for visitors, and to reflect the company’s renewed corporate design. As an innovation-driven technology group, ROSEN empowers its customers to make the best decisions for their critical industrial assets’ performance, integrity, and lifetime extension.
integrity, process safety, and reliability programs have been developed and implemented in silos and are difficult to cross-manage efficiently as a comprehensive asset management program. Market players collaborated to offer clients an end-to-end asset management solution that optimizes their programs and drives meaningful results. For instance, in April 2021, Metegrity and ABS Consulting collaborated to drive value for petroleum and chemical manufacturing operations. The alliance delivers clients sustainable asset management programs that enhance compliance and optimize production assets to drive value into operations. It optimizes asset integrity activities with risk-based inspections to drive program efficiency by prioritizing resources and activities based on asset risks.
Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Service Type
o By Industry
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Baker Hughes Company, DNV AS, General Electric Company, Oceaneering International, Inc., Siemens AG., among others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- •Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Asset Integrity Management Market Report Segment
By Service Type
- Risk-based Inspection (RBI)
- Non-Destructive Testing (NDT) Inspection
- Corrosion Management
- Pipeline Integrity Management
- Hazard Identification (HAZID) Study
- Structural Integrity Management
- Others (Reliability, Availability, and Maintainability (RAM) Study)
By Industry
- Oil & Gas
- Power
- Mining
- Aerospace
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Company Profiles
- ABS Group
- Asset Guardian
- Bilfinger Region Nordics
- Cenosco B.V.
- DNV AS
- EM&I Group
- EnerMech
- FORCE Technology
- Intertek Group plc
- Metegrity Inc.
- MISTRAS Group
- Oceaneering International, Inc.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
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