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Asset Integrity Management Market is predicted to reach USD 39.3 billion at a CAGR of 6.20% during the forecast period 2024-2032

Market Research Future (MRFR) has published on the “Global Asset Integrity Management Market”.


The asset integrity management market is estimated to register a CAGR of 6.20% during the forecast period of 2024 to 2032.


MRFR recognizes the following companies as the key players in the global asset integrity management market— SGS Société Générale de Surveillance SA, Bureau Veritas, TechnipFMC plc, John Wood Group PLC, Fluor Corporation, and Baker Hughes Company.


Market Highlights


The global asset integrity management market is accounted to register a CAGR of 6.20% during the forecast period and is estimated to reach USD 39.3 billion by 2032.


Increasing complexity in industrial operations presents a significant opportunity to drive sales in asset integrity management. As industrial processes become more intricate, the need for robust asset management solutions escalates. Companies seek comprehensive strategies to navigate this complexity, ensuring the reliability, safety, and efficiency of their assets. Asset integrity management providers can capitalize on this demand by offering sophisticated solutions tailored to address complex challenges. By demonstrating the ability to optimize asset performance, mitigate risks, and ensure regulatory compliance in increasingly complex environments, providers can attract and retain clients, ultimately driving sales growth in the asset integrity management market.


Segment Analysis


The global asset integrity management market has been segmented by service type and industry.


On the basis of service type, the market is segmented into risk-based inspection (RBI), non-destructive testing (NDT) inspection, corrosion management, pipeline integrity management, hazard identification (HAZID) study, structural integrity management, reliability, availability and maintainability (RAM) study, and others. The non-destructive testing (NDT) inspection segment was attributed to holding the largest market share in 2023. Because non-destructive testing (NDT) inspection plays a crucial role in maintaining asset integrity without causing harm, sales of this type of inspection are expected to rise. Nondestructive testing (NDT) is becoming a more affordable option for thorough and precise structural integrity evaluation as companies place a greater emphasis on preventative maintenance.


Based on industry, the global asset integrity management market has been segmented into oil & gas, power, mining, aerospace, and others. The oil & gas segment was expected to hold the largest market share in 2023 because of heightened exploration efforts, growing production capabilities, and the need for energy. Further propelling market expansion are technical developments in extraction methods and growing worldwide energy demand.


Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Asset Integrity Management Market Research Report


Regional Analysis


The global asset integrity management market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe asset integrity management market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The asset integrity management market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World asset integrity management market comprises the Middle East, Africa, and Latin America.


The largest market share for asset integrity management was maintained by the North American regional sector. Sales of asset integrity management solutions are poised to increase in North America due to the region's stringent regulatory environment, which mandates compliance with safety and environmental standards. Additionally, the shale gas boom in the United States has led to an expansion of oil and gas infrastructure, driving the demand for asset management services. Furthermore, the aging infrastructure in the region necessitates proactive maintenance strategies to ensure reliability and safety. With a focus on technological innovation, North American industries are increasingly adopting advanced asset monitoring and predictive maintenance solutions to optimize operations and minimize downtime, further fueling market growth.


Moreover, the Europe market has been persistently growing over the forecast period. The sales of asset integrity management solutions are set to rise in Europe as the region continues to prioritize sustainability and environmental protection. With stringent regulations governing asset safety and emissions, industries are investing in comprehensive asset management solutions to ensure compliance and mitigate risks. Moreover, the region's focus on renewable energy initiatives, such as offshore wind farms, presents opportunities for asset integrity management providers to offer specialized services tailored to these sectors. Additionally, Europe's emphasis on digitalization and data-driven decision-making drives the adoption of advanced asset monitoring technologies, creating a conducive environment for market expansion and innovation.


In the Asia Pacific region, the sales of asset integrity management solutions are expected to surge due to rapid industrialization and infrastructure development. With growing investments in sectors such as oil and gas, power generation, and manufacturing, there is a heightened focus on asset reliability and safety. Asset integrity management providers can capitalize on this trend by offering tailored solutions to address the unique challenges faced by industries in the region, such as extreme weather conditions and seismic risks. Furthermore, the increasing adoption of digital technologies and IoT solutions in Asia Pacific industries presents opportunities for providers to offer innovative asset monitoring and predictive maintenance services, driving market growth.


Furthermore, the rest of the world's asset integrity management market is divided into the Middle East, Africa, and Latin America. Latin America presents lucrative opportunities for the sales of asset integrity management solutions due to its expanding oil and gas industry and growing emphasis on safety and environmental regulations. With significant investments in infrastructure projects, including pipelines and refineries, there is a pressing need for asset management services to ensure operational reliability and compliance with regulatory standards. In the MEA region, the sales of asset integrity management solutions are poised to increase due to the region's thriving oil and gas sector and growing focus on industrial safety and regulatory compliance. With a vast network of pipelines, refineries, and offshore facilities, there is a critical need for asset management services to ensure the reliability and integrity of infrastructure assets.


Key Findings of the Study



  • The global asset integrity management market is expected to reach USD 39.3 billion by 2032, at a CAGR of 6.20% during the forecast period.

  • The Asia-Pacific region accounted for the fastest-growing global market due to aging infrastructure, cost optimization, and technological advancements.

  • Based on service type, the non-destructive testing (NDT) inspection segment was attributed to holding the largest market in 2022, with an approximate market share of 35–40%.

  • SGS Société Générale de Surveillance SA, Bureau Veritas, TechnipFMC plc, John Wood Group PLC, Fluor Corporation, and Baker Hughes Company are the key market players.

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Report details
Companies Covered 15
Pages 128
Certified Global Research Member
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