Asset Integrity Management Market : By Industry Trends, Leading Players, Size, Share, Growth, Opportunity And Forecast 2024-2033

Overview and Scope
Asset integrity management (AIM) is a method that enables the asset’s ability and potential to be effectively managed to mitigate and eliminate corrosion and fatigue crack degradation. It ensures that a facility’s assets are designed, fabricated, procured, installed, and maintained appropriately for their intended application throughout the operation’s life.

Sizing and Forecast
The asset integrity management market size has grown strongly in recent years. It will grow from $27.32 billion in 2023 to $29.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to complex industrial processes, safety and environmental concerns, focus on risk management, globalization of operations, shift from reactive to proactive maintenance.

The asset integrity management market size is expected to see strong growth in the next few years. It will grow to $42.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to human factors and behavioral safety, circular economy practices, energy efficiency and sustainability, predictive analytics for equipment health, supply chain resilience.. Major trends in the forecast period include adoption of digital twins, advanced data analytics for predictive maintenance, remote monitoring and inspection technologies, digitalization of asset documentation and records, cybersecurity measures for asset protection, collaboration for interoperability..

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Segmentation & Regional Insights
The asset integrity management market covered in this report is segmented –

1) By Service Type: Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Pipeline Integrity Management, Hazard Identification (HAZID) Study, Structural Integrity Management, Other Services Types
2) By End Use Industry: Oil And Gas, Power, Mining, Aerospace, Other End Users

North America was the largest region in the asset integrity management market in 2023. The regions covered in the asset integrity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growing demand for maintaining the assets is expected to fuel the growth of the asset integrity management market in the coming years. The majority of businesses are introducing asset integrity management (AIM) services because it prevents significant harm to people and the community, and improves business efficiency. For example, MISTRAS Group, a US-based provider of advanced technology-enabled asset security solutions, reported revenue of $0.67billion in 2021, and for 2022, it was $0.68 billion, which is an increase of 1.51%. Therefore, the increasing demand for asset integrity management drives the asset integrity management market growth.

Key Industry Players
Major companies operating in the asset integrity management market report are SGS Société Générale de Surveillance SA, The Welding Institute Limited, EM&I Group, LifeTech Engineering Limited, Aker Solutions ASA, Applus+ Services S. L., DNV GL AS, Wood Group (John) PLC, Oceaneering International Inc., Intertek Group plc, Metegrity Inc., FORCE Technology Norway AS, Bureau Veritas SA, TechnipFMC plc, Fluor Corporation, Dacon Inspection Technologies, General Electric Company, ABB Ltd., Siemens AG, TÜV SÜD Group, American Bureau of Shipping (ABS), Velosi Asset Integrity Limited, Axess Group AS, Element Materials Technology, MISTRAS Group Inc., Genesis Oil and Gas Consultants Ltd., Penspen Ltd., Asset Guardian Solutions Ltd., Lloyd’s Register, GE Oil & Gas

The asset integrity management market report table of contents includes:

1. Executive Summary
2. Asset Integrity Management Market Characteristics
3. Asset Integrity Management Market Trends And Strategies
4. Asset Integrity Management Market – Macro Economic Scenario
5. Global Asset Integrity Management Market Size and Growth
…………
31. Global Asset Integrity Management Market Competitive Benchmarking
32. Global Asset Integrity Management Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Asset Integrity Management Market
34. Asset Integrity Management Market Future Outlook and Potential Analysis
35. Appendix

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