Oil and Gas Asset Integrity Management Services Market Size 2028F

Summary

Report Description

Forecast Period	2018-2028
Market Size (2022)	USD 16.57 Billion
CAGR (2023-2028)	7.74%
Fastest Growing Segment	Offshore
Largest Market	North America

Market Overview

Global Oil and Gas Asset Integrity Management Services Market has valued at USD 16.57 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.74% through 2028. The Oil and Gas Asset Integrity Management Services Market is driven by the aging infrastructure, stringent regulations, safety concerns, and the need for cost efficiency in the industry. Companies require these services to ensure compliance, reduce downtime, and minimize environmental risks. Technological advancements, digitalization, and global expansion further boost demand. These services play a vital role in managing risks, optimizing operations, and enhancing the industry's public image. As oil and gas companies seek to maintain competitiveness and adapt to changing conditions, the asset integrity management services market remains a crucial component of their strategy.

Key Market Drivers

Aging Infrastructure will help in Oil and Gas Asset Integrity Management Services Market growth.

The aging infrastructure within the oil and gas industry stands as a compelling driver behind the robust growth of the Asset Integrity Management Services Market. Over decades of operation, oil and gas facilities, including pipelines, refineries, offshore platforms, and storage tanks, have undergone wear and tear, which has increased the risk of equipment deterioration and structural failure. As these assets age, the need to monitor, assess, and maintain them becomes increasingly critical. Consequently, asset integrity management services have emerged as a linchpin for the industry to address these challenges effectively. One of the primary consequences of aging infrastructure is the heightened risk of corrosion. Corrosion can eat away at pipes, tanks, and other critical equipment, leading to leaks, spills, and even catastrophic accidents. Asset integrity management services employ various techniques, including non-destructive testing, corrosion monitoring, and predictive maintenance, to identify and mitigate corrosion-related risks. By doing so, they help prevent costly downtime, environmental disasters, and, most importantly, protect human lives.

Moreover, the implications of aging infrastructure extend beyond safety concerns. The oil and gas industry operates in a highly competitive environment where operational efficiency and cost control are paramount. Older assets often require more frequent maintenance and repairs, leading to increased operational expenses. Asset integrity management services aid companies in optimizing maintenance schedules and reducing operational costs. They achieve this by leveraging data analytics, condition monitoring, and predictive maintenance strategies, allowing operators to make data-driven decisions and allocate resources more effectively. Furthermore, regulatory bodies worldwide impose stringent safety and environmental standards on the oil and gas sector. Companies must adhere to these regulations to avoid hefty fines, legal repercussions, and reputational damage. Asset integrity management services play a pivotal role in ensuring compliance with these regulations by continually assessing asset conditions, identifying potential non-compliance issues, and implementing necessary corrective measures. This proactive approach not only safeguards against regulatory penalties but also enhances the industry's image as a responsible steward of the environment. In conclusion, the aging infrastructure within the oil and gas sector is a potent driver behind the growing demand for Asset Integrity Management Services. These services offer a multifaceted solution to address the challenges posed by aging assets, encompassing safety, cost-efficiency, and regulatory compliance. As the industry continues to grapple with aging infrastructure, the role of asset integrity management services remains pivotal in sustaining safe, efficient, and sustainable operations.

Technological Advancements Have Played a Crucial Role in The Growth Of The Oil and Gas Asset Integrity Management Services Market

Technological advancements are at the forefront of driving significant growth and transformation within the Oil and Gas Asset Integrity Management Services Market. The integration of cutting-edge technologies is revolutionizing how the industry manages the integrity of its critical assets, such as pipelines, offshore platforms, and refineries. One of the most impactful technological trends in this context is the proliferation of sensor technology. Advanced sensors can continuously monitor asset conditions, including temperature, pressure, corrosion rates, and vibration. Real-time data from these sensors provide valuable insights into asset health, enabling early detection of anomalies and potential issues. Asset integrity management services leverage this data to predict equipment failures and prescribe preventive maintenance, reducing unplanned downtime and enhancing operational efficiency.

Data analytics and machine learning have also emerged as game-changers. The sheer volume of data generated by sensors and other sources can be overwhelming, but advanced analytics tools can sift through this data to identify patterns and trends that human operators might miss. Machine learning algorithms can predict when equipment is likely to fail based on historical data, allowing for proactive maintenance interventions. This data-driven approach enhances the reliability and lifespan of assets. Additionally, the rise of the Industrial Internet of Things (IIoT) has further accelerated the adoption of technological solutions in asset integrity management. IIoT devices, often combined with cloud computing, enable remote monitoring of assets from anywhere in the world. This remote access facilitates early detection of issues and reduces the need for on-site inspections, which can be costly and time-consuming.

Asset integrity management services have also benefited from advances in augmented reality (AR) and virtual reality (VR). These technologies enable engineers and technicians to visualize complex assets and their internal workings, improving the accuracy of inspections and maintenance procedures. AR and VR can also assist in training personnel and simulating emergency response scenarios. Blockchain technology is another noteworthy development, offering transparent and secure data management. It can be used to securely record and track maintenance histories, inspection records, and supply chain information, ensuring the integrity of asset-related data. In conclusion, technological advancements are driving the Oil and Gas Asset Integrity Management Services Market by enhancing the industry's ability to monitor, analyze, and maintain critical assets more effectively. The integration of sensors, data analytics, IIoT, AR, VR, and blockchain is ushering in a new era of asset integrity management that is more proactive, efficient, and data-driven, ultimately leading to improved safety, reduced downtime, and cost savings for the oil and gas industry.

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Key Market Challenges

Cost Constraints

Cost constraints represent a significant hindrance to the growth and widespread adoption of Asset Integrity Management (AIM) services in the Oil and Gas industry. The implementation of comprehensive AIM programs often involves substantial upfront investments in technology, personnel, and infrastructure, making it a daunting prospect for many companies, particularly smaller operators and those facing financial pressures. Firstly, the initial cost of procuring and installing monitoring systems, sensors, data analytics tools, and other advanced technologies can be substantial. Smaller players may struggle to justify these expenses, while larger corporations might find it challenging to allocate budgets for these initiatives, especially during periods of economic downturns or low oil prices. Secondly, the ongoing costs associated with maintaining and upgrading AIM systems, as well as training and retaining skilled personnel, can add to the financial burden. In some cases, companies may opt for short-term cost savings by postponing investments in AIM, potentially putting asset integrity and operational safety at risk.

Lastly, cost constraints can also affect the scalability of AIM services. Expanding these programs across an entire organization or multiple assets can be cost-prohibitive for some companies, limiting the breadth and depth of their asset integrity management efforts. To overcome this challenge, the industry must find ways to make AIM more cost-effective and accessible, perhaps through collaborative initiatives, technology-sharing agreements, or government incentives. Additionally, demonstrating the long-term cost benefits of AIM, such as reduced downtime, enhanced safety, and extended asset lifespans, can encourage more companies to invest in these critical services despite initial financial constraints.

Cybersecurity Risks

Cybersecurity risks pose a significant and growing threat to the Oil and Gas Asset Integrity Management Services Market. As these services increasingly rely on digital technologies, cloud computing, and the Internet of Things (IoT), they become more vulnerable to cyberattacks, which can have severe consequences for asset integrity, safety, and overall operations. Firstly, the interconnected nature of modern asset integrity management systems means that a breach in one part of the system can potentially compromise the entire network. This interconnectedness, while facilitating data sharing and analysis, can also be exploited by malicious actors seeking to disrupt operations or steal sensitive information.

Secondly, the consequences of a successful cyberattack can be catastrophic. A breach in asset integrity data could lead to incorrect maintenance decisions, equipment failures, and even accidents that endanger human lives and the environment. The potential for financial losses, legal liabilities, and reputational damage is also substantial. Moreover, the oil and gas industry's critical infrastructure make it an attractive target for cybercriminals, state-sponsored hackers, and hacktivists. Attacks can take various forms, from ransomware and data breaches to industrial control system (ICS) attacks that could directly impact operational safety. To mitigate these cybersecurity risks, the industry must invest in robust cybersecurity measures, including advanced threat detection, encryption, and secure access controls. Continuous monitoring and timely incident response are crucial. Additionally, promoting a cybersecurity-aware culture among employees and partners is essential. As asset integrity management services become more integrated with digital technologies, ensuring the cybersecurity of these systems is paramount to maintain the safety, reliability, and efficiency of oil and gas operations. Neglecting cybersecurity could not only hamper the growth of the AIM services market but also pose grave threats to the industry.

Key Market Trends

Digital Transformation

Digital transformation is a pivotal driver propelling the growth of the Oil and Gas Asset Integrity Management Services Market. As the industry increasingly embraces digital technologies, it is reshaping how assets are monitored, maintained, and managed for optimal performance and safety. Firstly, the adoption of Internet of Things (IoT) devices and sensors across oil and gas operations has enabled real-time monitoring of assets. These sensors collect valuable data on equipment conditions, allowing for early detection of potential integrity issues such as corrosion, leaks, or abnormal vibrations. This real-time data is essential for predictive maintenance and proactive decision-making. Secondly, data analytics and machine learning play a crucial role in asset integrity management. Advanced analytics processes the vast volumes of data generated by IoT sensors, identifying patterns and anomalies that can predict equipment failures. Machine learning algorithms continuously improve accuracy, making asset management more efficient and cost-effective.

Moreover, cloud computing and edge computing have revolutionized data storage and processing, making it possible to manage asset integrity data at scale. This cloud-based approach enables remote monitoring, collaboration, and data sharing, improving accessibility and agility in decision-making. Furthermore, augmented reality (AR) and virtual reality (VR) technologies have found applications in asset inspection and maintenance. These immersive technologies provide a digital overlay of equipment and can guide field personnel in performing inspections, repairs, and maintenance tasks more efficiently and accurately. In conclusion, the ongoing digital transformation in the oil and gas industry is driving the adoption of Asset Integrity Management Services by enhancing real-time monitoring, data analytics, cloud-based solutions, and AR/VR technologies. As the industry continues to prioritize efficiency, safety, and environmental responsibility, digital transformation will remain a primary catalyst for the evolution of asset integrity management practices and solutions.

Predictive Maintenance

Predictive maintenance is emerging as a driving force behind the growth of the Oil and Gas Asset Integrity Management Services Market. This innovative approach to maintenance leverages data analytics, machine learning, and sensor technologies to predict equipment failures before they occur, thus enabling proactive and cost-effective asset management. Firstly, predictive maintenance significantly reduces downtime and operational disruptions. By continuously monitoring the condition of critical equipment, such as pumps, valves, and pipelines, companies can detect early signs of wear, corrosion, or other issues. This early warning system allows for timely intervention, preventing unplanned outages and production losses. Secondly, cost efficiency is a key motivator. Predictive maintenance optimizes maintenance schedules, ensuring that resources are allocated where they are needed most. This approach minimizes unnecessary maintenance activities, reduces spare parts inventory, and extends the lifespan of assets, ultimately lowering operational costs.

Moreover, predictive maintenance enhances safety by identifying potential safety risks associated with equipment failures. This proactive approach helps prevent accidents, protect workers, and mitigate environmental damage, which are of paramount importance in the oil and gas industry. Additionally, the adoption of predictive maintenance aligns with broader industry trends, such as digital transformation and data-driven decision-making. As oil and gas companies increasingly embrace technology and automation, predictive maintenance fits seamlessly into their efforts to optimize operations and remain competitive.In conclusion, predictive maintenance is a compelling driver for the Oil and Gas Asset Integrity Management Services Market. It offers tangible benefits in terms of reduced downtime, cost savings, enhanced safety, and alignment with industry trends, making it a strategic imperative for companies looking to ensure the reliability and longevity of their critical assets.

Segmental Insights

Sector Insights

Downstream Sector to Dominate the Market, Asset integrity management (AIM) services are deployed in the oil and gas refinery sector and other process plants in order to help track the performance of assets, carry out inspections, and improve the reliability of equipment, plant safety, and profitability. The global refining sector is witnessing an increased demand for refined products from the chemical and petrochemical industry. The higher margins have propelled the crack spread, which is a crucial factor for the profitability of oil refiners. This factor also encouraged investments in new projects.

Location of Deployment Insights

By Location of Deployment, Offshore segment will dominate the market. As, now days the Offshore oil and gas discoveries are more and countries want to explore offshore oil and gas.

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Regional Insights

The North America region has established itself as the leader in the Global Oil and Gas Asset Integrity Management Services Market with a significant revenue share in 2022. North America has one of the oldest midstream infrastructures, with many oil and gas pipelines older than 40 years. The upstream infrastructure in the region is also aging. Most of the active platforms in the Gulf of Mexico are older than 25 years.

Apart from that, the existing upstream and midstream infrastructure in the region is vast in nature. The United States has about 2.5 million km of oil and gas pipeline, while Canada has about 800,000 km of pipeline. As a result of the large and aging infrastructure, North America is expected to lead the oil and gas asset integrity management services market during the forecast period.

Recent Developments

In January 2021, contracts regarding integrity management and fabric maintenance were announced by Neptune Energy for its operated gas production platform, Cygnus, to Oceaneering and Stork companies, which were valued at approximately USD 6.5 million. Oceaneering is likely to supply integrity management services covering pressure systems, structural, pipeline, erosion management, and offshore inspection services. Moreover, Oceaneering works closely with Stork, which delivers fabric maintenance and scaffolding services for Cygnus, located in the UK Southern North Sea.

Key Market Players

Aker Solutions ASA
Bureau Veritas SA
Fluor Corporation
Oceaneering International Inc.
Fluor Corporation
Technip FMC PLC
Applus Services SA
ABS Group
EMI Group

By Location of Deployment	By Sector	By Region
Offshore Onshore	Upstream Midstream Downstream	North America Asia- Pacific Europe South America Middle East & Africa

Report Scope:

In this report, the Global Oil and Gas Asset Integrity Management Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Oil and Gas Asset Integrity Management Services Market, By Location of Deployment:

o Offshore

o Onshore

Global Oil and Gas Asset Integrity Management Services Market, By Sector:

o Upstream

o Midstream

o Downstream

Global Oil and Gas Asset Integrity Management Services Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Oil and Gas Asset Integrity Management Services Market.

Available Customizations:

Global Oil and Gas Asset Integrity Management Services Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Oil and Gas Asset Integrity Management Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Oil and Gas Asset Integrity Management Services Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Location of Deployment (Offshore, Onshore)

5.2.2. By Sector (Upstream, Midstream, and Downstream)

5.2.3. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Oil and Gas Asset Integrity Management Services Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Location of Deployment

6.2.2. By Sector

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Oil and Gas Asset Integrity Management Services Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Location of Deployment

6.3.1.2.2. By Sector

6.3.2. Canada Oil and Gas Asset Integrity Management Services Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Location of Deployment

6.3.2.2.2. By Sector

6.3.3. Mexico Oil and Gas Asset Integrity Management Services Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Location of Deployment

6.3.3.2.2. By Sector

7. Asia-Pacific Oil and Gas Asset Integrity Management Services Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Location of Deployment

7.2.2. By Sector

7.2.3. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Oil and Gas Asset Integrity Management Services Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Location of Deployment

7.3.1.2.2. By Sector

7.3.2. India Oil and Gas Asset Integrity Management Services Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Location of Deployment

7.3.2.2.2. By Sector

7.3.3. Japan Oil and Gas Asset Integrity Management Services Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Location of Deployment

7.3.3.2.2. By Sector

7.3.4. South Korea Oil and Gas Asset Integrity Management Services Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Location of Deployment

7.3.4.2.2. By Sector

7.3.5. Indonesia Oil and Gas Asset Integrity Management Services Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Location of Deployment

7.3.5.2.2. By Sector

8. Europe Oil and Gas Asset Integrity Management Services Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Location of Deployment

8.2.2. By Sector

8.2.3. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Oil and Gas Asset Integrity Management Services Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Location of Deployment

8.3.1.2.2. By Sector

8.3.2. United Kingdom Oil and Gas Asset Integrity Management Services Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Capacity

8.3.2.2.2. By Application

8.3.3. France Oil and Gas Asset Integrity Management Services Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Location of Deployment

8.3.3.2.2. By Sector

8.3.4. Russia Oil and Gas Asset Integrity Management Services Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Location of Deployment

8.3.4.2.2. By Sector

8.3.5. Spain Oil and Gas Asset Integrity Management Services Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Location of Deployment

8.3.5.2.2. By Sector

9. South America Oil and Gas Asset Integrity Management Services Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Location of Deployment

9.2.2. By Sector

9.2.3. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Oil and Gas Asset Integrity Management Services Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Location of Deployment

9.3.1.2.2. By Sector

9.3.2. Argentina Oil and Gas Asset Integrity Management Services Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Location of Deployment

9.3.2.2.2. By Sector

10. Middle East & Africa Oil and Gas Asset Integrity Management Services Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Location of Deployment

10.2.2. By Sector

10.2.3. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Oil and Gas Asset Integrity Management Services Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Location of Deployment

10.3.1.2.2. By Sector

10.3.2. South Africa Oil and Gas Asset Integrity Management Services Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Location of Deployment

10.3.2.2.2. By Sector

10.3.3. UAE Oil and Gas Asset Integrity Management Services Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Location of Deployment

10.3.3.2.2. By Sector

10.3.4. Israel Oil and Gas Asset Integrity Management Services Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Location of Deployment

10.3.4.2.2. By Sector

10.3.5. Egypt Oil and Gas Asset Integrity Management Services Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Location of Deployment

10.3.5.2.2. By Sector

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. Aker Solutions ASA

13.1.1. Business Overview

13.1.2. Key Revenue and Financials (If Available)

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. Bureau Veritas SA

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Penspen Ltd

13.3.1. Business Overview

13.3.2. Key Revenue and Financials (If Available)

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. Intertek Group PLC

13.4.1. Business Overview

13.4.2. Key Revenue and Financials (If Available)

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. Oceaneering International Inc.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials (If Available)

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. Fluor Corporation

13.6.1. Business Overview

13.6.2. Key Revenue and Financials (If Available)

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Technip FMC PLC

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. Applus Services SA

13.8.1. Business Overview

13.8.2. Key Revenue and Financials (If Available)

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. ABS Group

13.9.1. Business Overview

13.9.2. Key Revenue and Financials (If Available)

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. EMI Group

13.10.1. Business Overview

13.10.2. Key Revenue and Financials (If Available)

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

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Figures and Tables

Frequently asked questions

What was the market size of the Global Oil and Gas Asset Integrity Management Services Market in 2022?

The market size of the Global Oil and Gas Asset Integrity Management Services Market was estimated to be USD 16.57 Billion in 2022.

Which was the dominant segment by device type in the Global Oil and Gas Asset Integrity Management Services Market in 2022?

Downstream Sector to Dominate the Market, Due to the aforementioned factors, the refining businesses and companies are now actively investing in asset integrity management services to increase their productivity and reduce costs. Hence, the downstream sector is expected to dominate during the forecast period.

What is the main Challenge in the Global Oil and Gas Asset Integrity Management Services Market?

Cost Constraints and While data analytics is a key enabler, it also poses a challenge due to the sheer volume of data generated by sensors and monitoring systems, these factors are restraining market growth.

What are the major drivers for the Global Oil and Gas Asset Integrity Management Services Market?

Aging Infrastructure, Technological Advancements are the major factors propelling the market growth.

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Parvati Sharma

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Press Release

The offshore segment is expected to dominate the Global Oil and Gas Asset Integrity Management Services Market in the forecast period.

Jan, 2024

One of the most compelling drivers behind the rise of the Oil and Gas Asset Integrity Management Services Market is the Aging Infrastructure.

Oil and Gas Asset Integrity Management Services Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Location of Deployment (Offshore and Onshore), Sector (Upstream, Midstream, and Downstream), By Region, Competition

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