Table of Content

"1    INTRODUCTION    30
1.1    STUDY OBJECTIVES    30
1.2    DEFINITION    30
1.2.1    INCLUSIONS AND EXCLUSIONS    31
1.3    STUDY SCOPE    31
1.3.1    MARKETS COVERED    31
FIGURE 1    ASSET INTEGRITY MANAGEMENT MARKET SEGMENTATION    31
1.3.2    GEOGRAPHIC SCOPE    32
1.3.3    YEARS CONSIDERED FOR THE STUDY    32
1.4    CURRENCY    32
1.5    STAKEHOLDERS    33
1.6    SUMMARY OF CHANGES    33
2    RESEARCH METHODOLOGY    34
2.1    RESEARCH DATA    34
FIGURE 2    ASSET INTEGRITY MANAGEMENT MARKET: RESEARCH DESIGN    34
2.1.1    SECONDARY DATA    35
2.1.1.1    Key data from secondary sources    35
2.1.2    PRIMARY DATA    36
2.1.2.1    Primary interviews with experts    36
2.1.2.2    Key data from primary sources    36
2.1.2.3    Key industry insights    37
2.1.2.4    Breakdown of primaries    37
2.2    MARKET SIZE ESTIMATION    37
2.2.1    BOTTOM-UP APPROACH    38
FIGURE 3    MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH    38
2.2.1.1    Approach for arriving at market size using bottom-up
analysis (demand side)    38
2.2.2    TOP-DOWN APPROACH    39
FIGURE 4    MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH    39
2.2.2.1    Approach for arriving at market size using top-down
analysis (supply side)    39
FIGURE 5    MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE FROM PRODUCTS/SOLUTIONS OF ASSET INTEGRITY
MANAGEMENT MARKET    40
2.3    MARKET BREAKDOWN AND DATA TRIANGULATION    41
FIGURE 6    DATA TRIANGULATION    41
2.4    RESEARCH ASSUMPTIONS AND LIMITATIONS    41
2.4.1    ASSUMPTIONS    41
FIGURE 7    ASSUMPTIONS OF RESEARCH STUDY    42
2.4.2    LIMITATIONS    42
2.4.3    RISK ASSESSMENT    42
FIGURE 8    RISK ASSESSMENT OF RESEARCH STUDY    42
3    EXECUTIVE SUMMARY    43
FIGURE 9    IMPACT OF COVID-19 ON ASSET INTEGRITY MANAGEMENT MARKET    43
3.1    REALISTIC SCENARIO    44
TABLE 1    ASSET INTEGRITY MANAGEMENT MARKET, POST-COVID-19
REALISTIC SCENARIO, 2021–2026 (USD MILLION)    44
3.2    PESSIMISTIC SCENARIO    44
TABLE 2    ASSET INTEGRITY MANAGEMENT MARKET, POST-COVID-19
PESSIMISTIC SCENARIO, 2021–2026 (USD MILLION)    44
3.3    OPTIMISTIC SCENARIO    45
TABLE 3    ASSET INTEGRITY MANAGEMENT MARKET, POST-COVID-19
OPTIMISTIC SCENARIO, 2021–2026 (USD MILLION)    45
FIGURE 10    NDT SEGMENT EXPECTED TO CAPTURE LARGEST MARKET SHARE IN 2021    45
FIGURE 11    OIL & GAS INDUSTRY DOMINATED ASSET INTEGRITY MANAGEMENT
MARKET IN 2020    46
FIGURE 12    NORTH AMERICA TO HOLD LARGEST MARKET SHARE BY 2026    46
4    PREMIUM INSIGHTS    48
4.1    ASIA PACIFIC TO PROVIDE LUCRATIVE OPPORTUNITIES FOR ASSET INTEGRITY MANAGEMENT MARKET    48
FIGURE 13    ATTRACTIVE GROWTH OPPORTUNITIES IN ASSET INTEGRITY
MANAGEMENT MARKET    48
4.2    ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE    48
FIGURE 14    NDT SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD    48
4.3    ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY AND REGION    49
FIGURE 15    OIL & GAS INDUSTRY AND NORTH AMERICA TO DOMINATE MARKET BY 2026    49
4.4    ASSET INTEGRITY MANAGEMENT MARKET, BY REGION    49
FIGURE 16    INDIA EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD    49
5    MARKET OVERVIEW    50
5.1    INTRODUCTION    50
5.2    MARKET DYNAMICS    50
FIGURE 17    ASSET INTEGRITY MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    50
5.2.1    DRIVERS    51
5.2.1.1    Decreasing efficiencies of aging assets and requirement for operational safety    51
5.2.1.2    Recognition of new offshore fields and subsequent increase in demand for asset integrity management services    51
5.2.1.3    Climatic changes give rise to operational disturbances across industries    52
FIGURE 18    POTENTIAL RISKS POSED BY CLIMATIC CHANGES TO OIL AND GAS INDUSTRY    52
5.2.1.4    Strict safety regulations and quality control requirements    53
FIGURE 19    IMPACT ANALYSIS OF DRIVERS FOR ASSET INTEGRITY
MANAGEMENT MARKET    53
5.2.2    RESTRAINTS    54
5.2.2.1    High initial costs and complexities with installation    54
FIGURE 20    PDCA FRAMEWORK FOR ASSET INTEGRITY MANAGEMENT    54
5.2.2.2    Adverse impact of harsh environmental conditions in the
Middle East and Arctic regions    54
FIGURE 21    IMPACT ANALYSIS OF RESTRAINTS FOR ASSET INTEGRITY
MANAGEMENT MARKET    55
5.2.3    OPPORTUNITIES    55
5.2.3.1    Increasing demand for renewable sources of energy    55
5.2.3.2    Growth of power sector in emerging nations    55
5.2.3.3    Confluence of cloud technology and asset integrity
management services    56
FIGURE 22    IMPACT ANALYSIS OF OPPORTUNITIES FOR ASSET INTEGRITY
MANAGEMENT MARKET    56
5.2.4    CHALLENGES    57
5.2.4.1    Lack of skilled workforce to manage asset integrity
management systems and software    57
FIGURE 23    IMPACT ANALYSIS OF CHALLENGE FOR ASSET INTEGRITY
MANAGEMENT MARKET    57
5.3    VALUE CHAIN ANALYSIS    58
FIGURE 24    VALUE CHAIN ANALYSIS: ASSET INTEGRITY MANAGEMENT MARKET    58
5.4    ECOSYSTEM    59
FIGURE 25    ECOSYSTEM OF ASSET INTEGRITY MANAGEMENT MARKET    59
TABLE 4    ASSET INTEGRITY MANAGEMENT MARKET: ECOSYSTEM    60
5.5    TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS    61
FIGURE 26    REVENUE SHIFT FOR ASSET INTEGRITY MANAGEMENT MARKET    61
5.6    PORTER’S FIVE FORCES ANALYSIS    61
TABLE 5    ASSET INTEGRITY MANAGEMENT MARKET: PORTER’S FIVE FORCES ANALYSIS    61
5.7    CASE STUDY ANALYSIS    62
TABLE 6    MARKET ASSESSMENT FOR ASSET AND MAINTENANCE MANAGEMENT IMPROVEMENT PROGRAM    62
TABLE 7    MARKET ASSESSMENT FOR INTEGRITY AND MAINTENANCE SOLUTION    63
TABLE 8    MARKET ASSESSMENT FOR REMAINING LIFE ASSESSMENT
FOR TRANSMISSION PIPELINES    63
TABLE 9    MARKET ASSESSMENT FOR CUMULATIVE RISK MANAGEMENT    63
TABLE 10    MARKET ASSESSMENT FOR RESTORING ASSET HEALTH    64
TABLE 11    MARKET ASSESSMENT FOR INTEGRATED RISK ASSESSMENT SYSTEM    64
TABLE 12    MARKET ASSESSMENT FOR INTEGRATED ASSET LIFE SOLUTION    64
5.8    PATENT ANALYSIS    65
FIGURE 27    TOP 10 COMPANIES/INSTITUTIONS WITH HIGHEST NUMBER OF
PATENT APPLICATIONS IN LAST 10 YEARS    65
TABLE 13    TOP 20 PATENT OWNERS (US) IN LAST 10 YEARS    65
FIGURE 28    NUMBER OF PATENTS GRANTED PER YEAR FROM 2011 TO 2021    66
TABLE 14    LIST OF FEW PATENTS IN ASSET INTEGRITY MANAGEMENT
MARKET, 2020–2021    66
5.9    TRADE ANALYSIS    67
5.9.1    IMPORT SCENARIO    67
FIGURE 29    IMPORTS, BY KEY COUNTRY, 2016–2020 (USD MILLION)    67
5.9.2    EXPORT SCENARIO    68
FIGURE 30    EXPORTS, BY KEY COUNTRY, 2016–2020 (USD MILLION)    68
5.10    TECHNOLOGY ANALYSIS    68
5.10.1    IOT, ROBOTICS, AND BIG DATA – DRIVING DIGITAL TRANSFORMATION
IN ASSET INTEGRITY MANAGEMENT MARKET    68
5.10.2    PHASED ARRAY ULTRASONIC TESTING AND 3D LASER SCANNING    68
5.10.3    GEOGRAPHIC INFORMATION SYSTEMS    69
5.10.4    MACHINE LEARNING AND ADVANCED ANALYTICS    69
5.11    PRICING ANALYSIS    69
5.12    REGULATORY LANDSCAPE    70
5.12.1    SAFETY STANDARDS FOR ASSET INTEGRITY MANAGEMENT    70
TABLE 15    SAFETY STANDARDS FOR ASSET INTEGRITY MANAGEMENT    70
6    EQUIPMENT REQUIRING ASSET INTEGRITY MANAGEMENT    71
6.1    INTRODUCTION    71
6.2    VESSELS, PIPING, AND PRESSURE PLANTS    71
6.3    FIRE AND SAFETY SYSTEMS    71
6.4    ELECTRICAL SYSTEMS    72
6.5    ROTATING EQUIPMENT    72
6.6    RELIEF AND VENT SYSTEMS    73
6.7    INSTRUMENTATION AND CONTROL SYSTEMS    73
7    ASSET INTEGRITY MANAGEMENT IN VARIOUS OIL & GAS SECTORS    74
7.1    INTRODUCTION    74
FIGURE 31    OIL & GAS SECTORS USING ASSET INTEGRITY MANAGEMENT SERVICES    74
7.2    UPSTREAM SECTOR    75
7.2.1    US UPSTREAM OPERATOR OPTS FOR INTEGRITY MANAGEMENT PROGRAM    75
7.3    MIDSTREAM SECTOR    76
7.3.1    PIPELINES: PRIMARY MEDIUM OF TRANSPORT OF OIL    76
7.3.2    USE OF SHIPS FOR OIL TRANSPORTATION    76
7.3.3    ON APP DIGITAL TRANSFORMATION SUPPORT FOR US-BASED
MIDSTREAM NATURAL GAS COMPANY    77
7.4    DOWNSTREAM SECTOR    77
7.4.1    TAILORED RISK MANAGEMENT APPLICATION FOR MOL GROUP    77

8    OFFERINGS IN ASSET INTEGRITY MANAGEMENT MARKET    78
8.1    INTRODUCTION    78
FIGURE 32    OFFERINGS IN ASSET INTEGRITY MANAGEMENT MARKET    78
8.2    HARDWARE    78
8.3    SOFTWARE    79
8.4    SERVICES    80
9    ASSET INTEGRITY MANAGEMENT METHODOLOGIES    81
9.1    INTRODUCTION    81
9.2    RELIABILITY-CENTERED MAINTENANCE    81
9.3    ROOT CAUSE ANALYSIS    81
9.4    RELIABILITY ANALYTICS    81
9.5    LIFE CYCLE ASSESSMENT/EXTENSION    82
9.6    FITNESS FOR SERVICE    82
9.7    FAILURE MODES, EFFECTS & CRITICALITY ANALYSIS    82
9.8    FINITE ELEMENT ANALYSIS    83
9.9    SAFETY INTEGRITY LEVEL STUDY    83
10    ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE    84
10.1    INTRODUCTION    85
FIGURE 33    ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE    85
TABLE 16    ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE,
2017–2020 (USD MILLION)    86
TABLE 17    ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE,
2021–2026 (USD MILLION)    86
10.2    NON-DESTRUCTIVE TESTING (NDT)    87
10.2.1    NDT CONTRIBUTES SIGNIFICANT SHARE TO THE MARKET    87
FIGURE 34    NDT METHODS    88
TABLE 18    NDT MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    89
TABLE 19    NDT MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    89
FIGURE 35    NORTH AMERICA TO LEAD NDT MARKET DURING FORECAST PERIOD    89
TABLE 20    NDT MARKET, BY REGION, 2017–2020 (USD MILLION)    90
TABLE 21    NDT MARKET, BY REGION, 2021–2026 (USD MILLION)    90
10.3    RISK-BASED INSPECTION (RBI)    90
10.3.1    RBI ENABLES SIGNIFICANT COST OPTIMIZATION AND SAFETY
ENHANCEMENT OF FACTORIES    90
FIGURE 36    INTERNATIONAL STANDARDS AND RECOMMENDED PRACTICES
FOR IMPLEMENTATION OF RBI    91
TABLE 22    RBI MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    92
TABLE 23    RBI MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    92
FIGURE 37    RBI MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR
DURING FORECAST PERIOD    93
TABLE 24    RBI MARKET, BY REGION, 2017–2020 (USD MILLION)    93
TABLE 25    RBI MARKET, BY REGION, 2021–2026 (USD MILLION)    93
10.4    CORROSION MANAGEMENT    94
10.4.1    CORROSION MANAGEMENT ENABLES PROTECTION AGAINST AGING INFRASTRUCTURE OF PLANTS    94
FIGURE 38    TYPES OF CORROSION    94
FIGURE 39    ELEMENTS OF CORROSION MANAGEMENT    95
TABLE 26    CORROSION MANAGEMENT MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    96
TABLE 27    CORROSION MANAGEMENT MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    96
TABLE 28    CORROSION MANAGEMENT MARKET, BY REGION,
2017–2020 (USD MILLION)    96
TABLE 29    CORROSION MANAGEMENT MARKET, BY REGION,
2021–2026 (USD MILLION)    97
10.5    PIPELINE INTEGRITY MANAGEMENT    97
10.5.1    PIPELINE INTEGRITY MANAGEMENT SYSTEMS HELP DETERMINE
SAFETY AND RELIABILITY OF PIPELINES    97
TABLE 30    PIPELINE INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    98
TABLE 31    PIPELINE INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    98
TABLE 32    PIPELINE INTEGRITY MANAGEMENT MARKET, BY REGION,
2017–2020 (USD MILLION)    98
TABLE 33    PIPELINE INTEGRITY MANAGEMENT MARKET, BY REGION,
2021–2026 (USD MILLION)    99
10.6    HAZARD IDENTIFICATION (HAZID) STUDY    99
10.6.1    HAZID STUDY SIGNIFICANTLY USED IN OIL & GAS INDUSTRY
OWING TO ITS EXPOSURE TO HAZARDOUS ENVIRONMENT    99
TABLE 34    HAZID STUDY MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    100
TABLE 35    HAZID STUDY MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    100
TABLE 36    HAZID STUDY MARKET, BY REGION, 2017–2020 (USD MILLION)    100
TABLE 37    HAZID STUDY MARKET, BY REGION, 2021–2026 (USD MILLION)    101
10.7    STRUCTURAL INTEGRITY MANAGEMENT (SIM)    101
10.7.1    SIM ENHANCES OPERATIONAL EFFECTIVENESS BY IMPROVED HSE PERFORMANCE    101
FIGURE 40    STRUCTURAL INTEGRITY MANAGEMENT PROCESS    101
TABLE 38    STRUCTURAL INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    102
TABLE 39    STRUCTURAL INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    103
TABLE 40    STRUCTURAL INTEGRITY MANAGEMENT MARKET, BY REGION,
2017–2020 (USD MILLION)    103
TABLE 41    STRUCTURAL INTEGRITY MANAGEMENT MARKET, BY REGION,
2021–2026 (USD MILLION)    103
10.8    RELIABILITY, AVAILABILITY AND MAINTAINABILITY (RAM) STUDY    104
10.8.1    RAM STUDY HELPS IN DETERMINING PROBABLE CAUSES
OF PRODUCTION LOSSES    104
FIGURE 41    STEPS INVOLVED IN RAM STUDY    104
TABLE 42    RAM STUDY MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    104
TABLE 43    RAM STUDY MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    105
TABLE 44    RAM STUDY MARKET, BY REGION, 2017–2020 (USD MILLION)    105
TABLE 45    RAM STUDY MARKET, BY REGION, 2021–2026 (USD MILLION)    105
10.9    OTHERS    106
TABLE 46    OTHER ASSET INTEGRITY MANAGEMENT SERVICES MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    106
TABLE 47    OTHER ASSET INTEGRITY MANAGEMENT SERVICES MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    107
TABLE 48    OTHER ASSET INTEGRITY MANAGEMENT SERVICES MARKET, BY REGION, 2017–2020 (USD MILLION)    107
TABLE 49    OTHER ASSET INTEGRITY MANAGEMENT SERVICES MARKET, BY REGION, 2021–2026 (USD MILLION)    107
11    ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY    108
11.1    INTRODUCTION    109
FIGURE 42    ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY    109
FIGURE 43    OIL & GAS INDUSTRY TO LEAD ASSET INTEGRITY MANAGEMENT
MARKET BY 2026    110
TABLE 50    ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    110
TABLE 51    ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    110
11.2    OIL & GAS    111
FIGURE 44    INTEGRITY SERVICES FOR VARIOUS ASSETS    112
TABLE 52    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY SERVICE TYPE, 2017–2020 (USD MILLION)    112
TABLE 53    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY SERVICE TYPE, 2021–2026 (USD MILLION)    113
TABLE 54    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY REGION, 2017–2020 (USD MILLION)    113
TABLE 55    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY REGION, 2021–2026 (USD MILLION)    113
11.2.1    PLANT LOCATION OF OIL & GAS INDUSTRY    114
FIGURE 45    ASSET INTEGRITY MANAGEMENT MARKET, BY PLANT LOCATION    114
FIGURE 46    OFFSHORE SUBSEGMENT TO DOMINATE ASSET INTEGRITY MANAGEMENT MARKET DURING FORECAST PERIOD    115
TABLE 56    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY PLANT LOCATION, 2017–2020 (USD MILLION)    115
TABLE 57    ASSET INTEGRITY MANAGEMENT MARKET FOR OIL & GAS INDUSTRY,
BY PLANT LOCATION, 2021–2026 (USD MILLION)    115
11.2.1.1    Onshore    116
11.2.1.1.1    Robotic systems benefit onshore oil storage tank inspection    116
11.2.1.2    Offshore    117
11.2.1.2.1    Asset integrity management imperative in offshore plants for smooth working operation    117
FIGURE 47    ASSET INTEGRITY MANAGEMENT APPROACH FOR OFFSHORE LOCATIONS    117
11.2.1.3    Subsea    118
11.2.1.3.1    Digital twin technology used to reduce cost of asset ownership at subsea locations    118
11.3    POWER    118
TABLE 58    ASSET INTEGRITY MANAGEMENT MARKET FOR POWER, BY SERVICE TYPE, 2017–2020 (USD MILLION)    119
TABLE 59    ASSET INTEGRITY MANAGEMENT MARKET FOR POWER, BY SERVICE TYPE, 2021–2026 (USD MILLION)    120
TABLE 60    ASSET INTEGRITY MANAGEMENT MARKET FOR POWER, BY REGION,
2017–2020 (USD MILLION)    120
TABLE 61    ASSET INTEGRITY MANAGEMENT MARKET FOR POWER, BY REGION,
2021–2026 (USD MILLION)    120
11.3.1    RENEWABLE ENERGY    121
11.3.1.1    Continuous investments in renewable energy widens scope
of asset integrity management    121
TABLE 62    CHALLENGES FACED BY RENEWABLE ENERGY PLANTS    121
FIGURE 48    SUSTAINABLE ASSET INTEGRITY MANAGEMENT ACTIVITIES    122
11.4    MINING    123
11.4.1    GROWING DEMAND FOR PREVENTIVE MAINTENANCE IN MINING DUE
TO COST BENEFITS BOOSTS MARKET    123
TABLE 63    ASSET INTEGRITY MANAGEMENT MARKET FOR MINING, BY SERVICE TYPE, 2017–2020 (USD MILLION)    123
TABLE 64    ASSET INTEGRITY MANAGEMENT MARKET FOR MINING, BY SERVICE TYPE, 2021–2026 (USD MILLION)    124
FIGURE 49    ASIA PACIFIC TO HOLD LARGEST SHARE OF ASSET INTEGRITY MANAGEMENT MARKET FOR MINING DURING FORECAST PERIOD    124
TABLE 65    ASSET INTEGRITY MANAGEMENT MARKET FOR MINING, BY REGION,
2017–2020 (USD MILLION)    124
TABLE 66    ASSET INTEGRITY MANAGEMENT MARKET FOR MINING, BY REGION,
2021–2026 (USD MILLION)    125
11.5    AEROSPACE    125
11.5.1    NDT TO BE CRUCIAL FOR SAFETY IN AEROSPACE INDUSTRY    125
TABLE 67    ASSET INTEGRITY MANAGEMENT MARKET FOR AEROSPACE, BY SERVICE TYPE, 2017–2020 (USD MILLION)    126
TABLE 68    ASSET INTEGRITY MANAGEMENT MARKET FOR AEROSPACE, BY SERVICE TYPE, 2021–2026 (USD MILLION)    126
TABLE 69    ASSET INTEGRITY MANAGEMENT MARKET FOR AEROSPACE, BY REGION, 2017–2020 (USD MILLION)    127
TABLE 70    ASSET INTEGRITY MANAGEMENT MARKET FOR AEROSPACE, BY REGION, 2021–2026 (USD MILLION)    127
11.6    OTHERS    127
TABLE 71    ASSET INTEGRITY MANAGEMENT MARKET FOR OTHERS, BY SERVICE TYPE, 2017–2020 (USD MILLION)    128
TABLE 72    ASSET INTEGRITY MANAGEMENT MARKET FOR OTHERS, BY SERVICE TYPE, 2021–2026 (USD MILLION)    128
TABLE 73    ASSET INTEGRITY MANAGEMENT MARKET FOR OTHERS, BY REGION,
2017–2020 (USD MILLION)    129
TABLE 74    ASSET INTEGRITY MANAGEMENT MARKET FOR OTHERS, BY REGION,
2021–2026 (USD MILLION)    129
12    GEOGRAPHIC ANALYSIS    130
12.1    INTRODUCTION    131
FIGURE 50    GEOGRAPHIC SNAPSHOT: ASSET INTEGRITY MANAGEMENT MARKET    131
FIGURE 51    NORTH AMERICA TO DOMINATE ASSET INTEGRITY MANAGEMENT MARKET
BY 2026    131
TABLE 75    ASSET INTEGRITY MANAGEMENT MARKET, BY REGION,
2017–2020 (USD MILLION)    132
TABLE 76    ASSET INTEGRITY MANAGEMENT MARKET, BY REGION,
2021–2026 (USD MILLION)    132
12.2    NORTH AMERICA    133
FIGURE 52    ASSET INTEGRITY MANAGEMENT MARKET: NORTH AMERICA    134
TABLE 77    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2017–2020 (USD MILLION)    134
TABLE 78    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2021–2026 (USD MILLION)    135
TABLE 79    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    135
TABLE 80    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    135
TABLE 81    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2017–2020 (USD MILLION)    136
TABLE 82    NORTH AMERICA: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    136
12.2.1    US    136
12.2.1.1    US projected to contribute largest share to North American
market during forecast period    136
12.2.2    CANADA    137
12.2.2.1    Market growth in Canada supported by growth in oil
& gas and mining industries    137
12.2.3    MEXICO    138
12.2.3.1    Increasing oil production aids growth of market in Mexico    138
12.3    EUROPE    138
FIGURE 53    ASSET INTEGRITY MANAGEMENT MARKET: EUROPE    139
TABLE 83    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2017–2020 (USD MILLION)    140
TABLE 84    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2021–2026 (USD MILLION)    140
TABLE 85    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    140
TABLE 86    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    141
TABLE 87    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY,
2017–2020 (USD MILLION)    141
TABLE 88    EUROPE: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY,
2021–2026 (USD MILLION)    141
12.3.1    UK    142
12.3.1.1    Energy transition deal in UK to create new market opportunities    142
12.3.2    GERMANY    143
12.3.2.1    Energy transition and oil imports aid market growth in Germany    143
12.3.3    FRANCE    143
12.3.3.1    Substantial growth of renewable energy expected to fuel
demand for asset integrity management services    143
12.3.4    NORWAY    144
12.3.4.1    Increasing oil exports from Norway to propel asset integrity management market growth    144
12.3.5    REST OF EUROPE    144
12.4    ASIA PACIFIC    145
FIGURE 54    ASSET INTEGRITY MANAGEMENT MARKET: ASIA PACIFIC    145
TABLE 89    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2017–2020 (USD MILLION)    146
TABLE 90    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2021–2026 (USD MILLION)    146
TABLE 91    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    146
TABLE 92    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    147
TABLE 93    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2017–2020 (USD MILLION)    147
TABLE 94    ASIA PACIFIC: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    147
12.4.1    CHINA    148
12.4.1.1    Asia Pacific market to get stronger due to China being largest
LNG importer worldwide    148
12.4.2    JAPAN    148
12.4.2.1    Japanese market driven by major dependency on oil & natural
gas to meet energy demand    148
12.4.3    INDIA    149
12.4.3.1    Doubling of pipeline networks in next 5 years to fuel market in India    149
12.4.4    REST OF ASIA PACIFIC    149
12.5    REST OF THE WORLD    150
FIGURE 55    MIDDLE EAST TO HOLD LARGEST MARKET SHARE IN ROW BY 2026    150
TABLE 95    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2017–2020 (USD MILLION)    151
TABLE 96    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET, BY SERVICE TYPE, 2021–2026 (USD MILLION)    151
TABLE 97    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET,
BY INDUSTRY, 2017–2020 (USD MILLION)    151
TABLE 98    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET,
BY INDUSTRY, 2021–2026 (USD MILLION)    152
TABLE 99    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET, BY REGION, 2017–2020 (USD MILLION)    152
TABLE 100    REST OF THE WORLD: ASSET INTEGRITY MANAGEMENT MARKET, BY REGION, 2021–2026 (USD MILLION)    152
12.5.1    SOUTH AMERICA    153
12.5.1.1    Foreign investments in energy sector to propel market
growth in Brazil    153
12.5.2    MIDDLE EAST    153
TABLE 101    MIDDLE EAST: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2017–2020 (USD MILLION)    154
TABLE 102    MIDDLE EAST: ASSET INTEGRITY MANAGEMENT MARKET, BY COUNTRY, 2021–2026 (USD MILLION)    154
12.5.2.1    Saudi Arabia    154
12.5.2.1.1    Saudi Arabia positioned as key contributor for market growth in Middle East    154
12.5.2.2    UAE    155
12.5.2.2.1    Presence of major oil & gas companies in UAE to
support market growth    155
12.5.2.3    Rest of Middle East    155
12.5.3    AFRICA    155
12.5.3.1    Mining industry in Africa to push asset integrity management market    155
13    COMPETITIVE LANDSCAPE    156
13.1    OVERVIEW    156
13.2    KEY PLAYER STRATEGIES/RIGHT-TO-WIN    156
TABLE 103    OVERVIEW OF STRATEGIES ADOPTED BY COMPANIES    156
13.3    REVENUE ANALYSIS OF TOP FIVE COMPANIES    158
FIGURE 56    5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN ASSET INTEGRITY MANAGEMENT MARKET    158
13.4    MARKET SHARE ANALYSIS (2020)    159
FIGURE 57    ASSET INTEGRITY MANAGEMENT MARKET SHARE ANALYSIS, 2020    159
13.5    COMPANY EVALUATION QUADRANT, 2020    160
13.5.1    STAR    160
13.5.2    PERVASIVE    160
13.5.3    EMERGING LEADER    160
13.5.4    PARTICIPANT    160
FIGURE 58    ASSET INTEGRITY MANAGEMENT MARKET (GLOBAL) COMPANY
EVALUATION QUADRANT, 2020    161
13.6    SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION QUADRANT, 2020    161
13.6.1    PROGRESSIVE    161
13.6.2    RESPONSIVE    162
13.6.3    DYNAMIC    162
13.6.4    STARTING BLOCK    162
FIGURE 59    ASSET INTEGRITY MANAGEMENT MARKET (GLOBAL) SME
EVALUATION QUADRANT, 2020    162
13.7    ASSET INTEGRITY MANAGEMENT MARKET: COMPANY FOOTPRINT    163
TABLE 104    COMPANY FOOTPRINT    163
TABLE 105    COMPANY INDUSTRY FOOTPRINT    164
TABLE 106    COMPANY PRODUCT TYPE FOOTPRINT    165
TABLE 107    COMPANY REGION FOOTPRINT    166
13.8    COMPETITIVE SCENARIO    167
TABLE 108    ASSET INTEGRITY MANAGEMENT MARKET: PRODUCT LAUNCHES, JUNE 2019−JULY 2020    167
TABLE 109    ASSET INTEGRITY MANAGEMENT MARKET: DEALS, FEBRUARY
2019−AUGUST 2020    168
TABLE 110    ASSET INTEGRITY MANAGEMENT MARKET: OTHERS, APRIL 2020−JUNE 2021    169
14    COMPANY PROFILES    170
14.1    KEY PLAYERS    170
(Business Overview, Products Offered, Recent Developments, Product launches, Deals, Others, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
14.1.1    SGS    170
TABLE 111    SGS: BUSINESS OVERVIEW    170
FIGURE 60    SGS: COMPANY SNAPSHOT    171
14.1.2    BUREAU VERITAS    175
TABLE 112    TABLE 6 BUREAU VERITAS: BUSINESS OVERVIEW    175
FIGURE 61    BUREAU VERITAS: COMPANY SNAPSHOT    176
14.1.3    INTERTEK GROUP    179
TABLE 113    INTERTEK GROUP: BUSINESS OVERVIEW    179
FIGURE 62    INTERTEK GROUP: COMPANY SNAPSHOT    180
14.1.4    TECHNIPFMC    183
TABLE 114    TECHNIPFMC: BUSINESS OVERVIEW    183
FIGURE 63    TECHNIPFMC: COMPANY SNAPSHOT    184
14.1.5    AKER SOLUTIONS    187
TABLE 115    AKER SOLUTIONS: BUSINESS OVERVIEW    187
FIGURE 64    AKER SOLUTIONS: COMPANY SNAPSHOT    188
14.1.6    APPLUS SERVICES    191
TABLE 116    APPLUS SERVICES: BUSINESS OVERVIEW    191
FIGURE 65    APPLUS SERVICES: COMPANY SNAPSHOT    192
14.1.7    DNV    195
TABLE 117    DNV: BUSINESS OVERVIEW    195
FIGURE 66    DNV: COMPANY SNAPSHOT    196
14.1.8    JOHN WOOD GROUP    199
TABLE 118    JOHN WOOD GROUP: BUSINESS OVERVIEW    199
FIGURE 67    JOHN WOOD GROUP: COMPANY SNAPSHOT    200
14.1.9    OCEANEERING INTERNATIONAL    202
TABLE 119    OCEANEERING INTERNATIONAL: BUSINESS OVERVIEW    202
FIGURE 68    OCEANEERING INTERNATIONAL: COMPANY SNAPSHOT    203
14.1.10    FLUOR    205
TABLE 120    TABLE 39 FLUOR: BUSINESS OVERVIEW    205
FIGURE 69    FLUOR: COMPANY SNAPSHOT    206
14.2    OTHER PLAYERS    208
14.2.1    ROSEN SWISS    208
TABLE 121    ROSEN SWISS: COMPANY OVERVIEW    208
14.2.2    LIFETECH ENGINEERING    209
TABLE 122    LIFETECH ENGINEERING: COMPANY OVERVIEW    209
14.2.3    EM&I    210
TABLE 123    EM&I: COMPANY OVERVIEW    210
14.2.4    METEGRITY    211
TABLE 124    METEGRITY: COMPANY OVERVIEW    211
14.2.5    DACON INSPECTION TECHNOLOGIES    212
TABLE 125    DACON INSPECTION TECHNOLOGIES: COMPANY OVERVIEW    212
14.2.6    FORCE TECHNOLOGY NORWAY    213
TABLE 126    FORCE TECHNOLOGY NORWAY: COMPANY OVERVIEW    213
14.2.7    TWI    214
TABLE 127    TWI: COMPANY OVERVIEW    214
14.2.8    TÜV SÜD    215
TABLE 128    TÜV SÜD: COMPANY OVERVIEW    215
14.2.9    OES    216
TABLE 129    OES: COMPANY OVERVIEW    216
14.2.10    BELL ENERGY SERVICES UK    217
TABLE 130    BELL ENERGY SERVICES UK: COMPANY OVERVIEW    217
14.2.11    ABS GROUP    218
TABLE 131    ABS GROUP: COMPANY OVERVIEW    218
14.2.12    VELOSI ASSET INTEGRITY    219
TABLE 132    VELOSI ASSET INTEGRITY: COMPANY OVERVIEW    219
14.2.13    AXESS GROUP    220
TABLE 133    AXESS GROUP: COMPANY OVERVIEW    220
14.2.14    ELEMENT MATERIALS TECHNOLOGY    221
TABLE 134    ELEMENT MATERIALS TECHNOLOGY: COMPANY OVERVIEW    221
14.2.15    RINA    222
TABLE 135    RINA: COMPANY OVERVIEW    222
14.2.16    ASSET INTEGRITY ENGINEERING    223
TABLE 136    ASSET INTEGRITY ENGINEERING: COMPANY OVERVIEW    223
*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
15    ADJACENT AND RELATED MARKET    224
15.1    MACHINE CONDITION MONITORING MARKET    224
15.2    INTRODUCTION    224
FIGURE 70    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS    224
FIGURE 71    ONLINE CONDITION MONITORING SEGMENT TO LEAD MACHINE CONDITION MONITORING MARKET FROM 2021 TO 2026    225
TABLE 137    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2017–2020 (USD MILLION)    225
TABLE 138    MACHINE CONDITION MONITORING MARKET, BY MONITORING PROCESS, 2021–2026 (USD MILLION)    225
15.3    ONLINE CONDITION MONITORING    226
15.3.1    ONLINE CONDITION MONITORING SYSTEMS DELIVER REAL-TIME MACHINERY HEALTH INFORMATION TO PLANT OPERATORS    226
TABLE 139    ONLINE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)    227
TABLE 140    ONLINE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)    227
TABLE 141    ONLINE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,
2017–2020 (USD MILLION)    228
TABLE 142    ONLINE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY,
2021–2026 (USD MILLION)    228
TABLE 143    ONLINE MACHINE CONDITION MONITORING MARKET, BY REGION,
2017–2020 (USD MILLION)    229
FIGURE 72    ONLINE MACHINE CONDITION MONITORING MARKET IN APAC
TO GROW AT HIGHEST CAGR FROM 2021 TO 2026    229
TABLE 144    ONLINE MACHINE CONDITION MONITORING MARKET, BY REGION,
2021–2026 (USD MILLION)    229
15.4    PORTABLE CONDITION MONITORING    230
15.4.1    EMERGENCE OF PORTABLE CONDITION MONITORING AS COST-EFFECTIVE CONDITION MONITORING PROCESS    230
TABLE 145    PORTABLE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)    230
TABLE 146    PORTABLE MACHINE CONDITION MONITORING MARKET, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)    231
TABLE 147    PORTABLE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2017–2020 (USD MILLION)    231
FIGURE 73    POWER GENERATION SEGMENT TO HOLD LARGEST SIZE OF PORTABLE MACHINE CONDITION MONITORING IN 2026    232
TABLE 148    PORTABLE MACHINE CONDITION MONITORING MARKET, BY INDUSTRY, 2021–2026 (USD MILLION)    232
TABLE 149    PORTABLE MACHINE CONDITION MONITORING MARKET, BY REGION,
2017–2020 (USD MILLION)    233
TABLE 150    PORTABLE MACHINE CONDITION MONITORING MARKET, BY REGION,
2021–2026 (USD MILLION)    233
16    APPENDIX    234
16.1    INSIGHTS OF INDUSTRY EXPERTS    234
16.2    DISCUSSION GUIDE    235
16.3    KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL    238
16.4    AVAILABLE CUSTOMIZATIONS    240
16.5    RELATED REPORTS    240
16.6    AUTHOR DETAILS    241"