Europe Asset Integrity Management Market Forecast to 2030

At 9.5% CAGR, Europe Asset Integrity Management Market is Speculated to be Worth US$ 1,834.14 Million by 2030, says the Research Team

According to the Research Team’ research, the Europe asset integrity management market was valued at US$ 886.15 million in 2022 and is expected to reach US$ 1,834.14 million by 2030, registering a CAGR of 9.5% from 2022 to 2030. Expansion of oil & gas industry and growth in nuclear power industry are among the critical factors attributed to drive the Europe asset integrity management market growth.

With the rise in digital transformation in a wide range of industries, the oil & gas industry plays a key role in this industrial revolution and the economic growth of the world. The major factor driving the evolution of this industry is the high demand for electricity, power, automobiles, and aircraft to the rapidly growing population. Moreover, the oil & gas industry accounted for the largest share of global consumed energy resources. In terms of usage, natural gas is estimated to become the fastest-depleting fossil fuel in the coming years. Globally, oil supply is expected to increase rapidly in order to meet the rise in energy demand owing to the depletion of existing oil reserves. According to the International Energy Agency (IEA), as of June 2023, worldwide oil demand is anticipated to increase by 6% between 2022 and 2028 and reach 105.7 million barrels per day (mb/d) due to tremendous demand from the petrochemical and aviation industries. Hence, an increased demand for oil and gas in the petrochemicals and aviation sectors is also propelling the growth of the oil & gas industry. Oil & gas operations involve a diverse set of complex assets, such as pipes and drilling equipment, which are exposed to extremely harsh environments that make manual maintenance difficult. Hence, it is challenging for oil & gas companies to manage every asset efficiently, where assets are heavily regulated and expensive. Thus, it creates a need for companies to opt for asset management services that provide custom-fit strategies and plans, estimate the time of failure, and forecast equipment lifecycles. Moreover, oil and gas companies are deploying new technologies to attain greater efficiency to meet the world’s increasing demand for energy. Simultaneously, many companies are forcing engineering and maintenance divisions to reduce operating costs, budget, and labor while maintaining high production levels. Hence, it is necessary for oil and gas companies to establish inclusive policies regarding discharge of harmful pollutant from oil & gas plant and practices to manage security and risk violations cost-effectively. Thus, the expansion of the oil & gas industry with an increase in demand for oil & gas from petrochemical and aviation industries is expected to provide substantial growth opportunities to the market players during the forecast period.

On the contrary, cost involved in non-value-added maintenance and improper operation hampers the growth of Europe asset integrity management market.

Based on service type, the Europe asset integrity management market is categorized into non-destructive testing inspection, corrosion management, pipeline integrity management, structural integrity management, risk-based inspection, and others. The others segment held 22.5% market share in 2022, amassing US$ 199.21 million. It is projected to garner US$ 457.35 million by 2030 to register 10.9% CAGR during 2022-2030.

In terms of end user, the Europe asset integrity management market is segmented into oil & gas, power, marine, mining, aerospace, and others. The oil & gas segment held 37.2% share of Europe asset integrity management market in 2022, amassing US$ 329.87 million. It is anticipated to garner US$ 605.66 million by 2030 to expand at 7.9% CAGR during 2022-2030.

Based on country, the Europe asset integrity management market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 33.7% share of Europe asset integrity management market in 2022. It was assessed at US$ 298.46 million in 2022 and is likely to hit US$ 701.38 million by 2030, registering a CAGR of 11.3% during 2022-2030.

Key players operating in the Europe asset integrity management market are SGS SA, Intertek Group Plc, Aker Solutions SA, Bureau Veritas SA, Fluor Corp, DNV Group AS, John Wood Group Plc, Rosen Group, TechnipFMC Plc, and Oceaneering International Inc, among others.

In August 2021, DNV delivered pipeline integrity solutions to the national gas company of Trinidad and Tobago Limited. DNV’s Synergi pipeline is being implemented at NGC to support safe and efficient pipeline operations.

In November 2023, ROSEN Group was awarded the Technology and Innovation category of OCENSA’s Supply Award 2023 for its technological innovation in integrity management. The prestigious recognition highlights ROSEN’s innovative approach to pipeline integrity management, specifically for the detection of circumferential cracks caused by external factors.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe asset integrity management market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Europe asset integrity management market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe asset integrity management market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Asset Integrity Management Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
5. Europe Asset Integrity Management Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Need for Operational Safety of Aging Assets in Risk-Based Industries
5.1.2 Stringent Government Safety Regulations
5.1.3 Rising Adoption of Growth Strategies by Market Players
5.2 Market Restraints
5.2.1 Cost Involved in Non-Value-Added Maintenance and Improper Operation
5.3 Market Opportunities
5.3.1 Expansion of Oil & Gas Industry
5.3.2 Growth in Nuclear Power Industry
5.4 Future Trend
5.4.1 Integration of Digital Twin and IIoT with Asset Integrity Management Software
5.5 Impact of Drivers and Restraints:
6. Asset Integrity Management Market – Europe Market Analysis
6.1 Asset Integrity Management Market Revenue (US$ Million), 2020-2030
6.2 Asset Integrity Management Market Forecast Analysis
7. Europe Asset Integrity Management Market Analysis – by Service Type
7.1 Non-Destructive Testing (NDT) Inspection
7.1.1 Overview
7.1.2 Non-Destructive Testing (NDT) Inspection: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Corrosion Management
7.2.1 Overview
7.2.2 Corrosion Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Pipeline Integrity Management
7.3.1 Overview
7.3.2 Pipeline Integrity Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Structural Integrity Management
7.4.1 Overview
7.4.2 Structural Integrity Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Risk-Based Inspection (RBI)
7.5.1 Overview
7.5.2 Risk-Based Inspection (RBI): Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8. Europe Asset Integrity Management Market Analysis – by End User
8.1 Oil & Gas
8.1.1 Overview
8.1.2 Oil & Gas: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Power
8.2.1 Overview
8.2.2 Power: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Marine
8.3.1 Overview
8.3.2 Marine: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Mining
8.4.1 Overview
8.4.2 Mining: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Aerospace
8.5.1 Overview
8.5.2 Aerospace: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9. Europe Asset Integrity Management Market – Country Analysis
9.1 Europe Market Overview
9.1.1 Europe: Asset Integrity Management Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Europe: Asset Integrity Management Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Germany: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 Germany: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.2.2 Germany: Asset Integrity Management Market Breakdown, by End User
9.1.1.3 United Kingdom: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 United Kingdom: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.3.2 United Kingdom: Asset Integrity Management Market Breakdown, by End User
9.1.1.4 France: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 France: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.4.2 France: Asset Integrity Management Market Breakdown, by End User
9.1.1.5 Italy: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.5.1 Italy: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.5.2 Italy: Asset Integrity Management Market Breakdown, by End User
9.1.1.6 Russian Federation: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.6.1 Russian Federation: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.6.2 Russian Federation: Asset Integrity Management Market Breakdown, by End User
9.1.1.7 Rest of Europe: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.7.1 Rest of Europe: Asset Integrity Management Market Breakdown, by Service Type
9.1.1.7.2 Rest of Europe: Asset Integrity Management Market Breakdown, by End User
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 SGS SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Intertek Group Plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Aker Solutions ASA
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Bureau Veritas SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Fluor Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 DNV Group AS
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 John Wood Group Plc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 ROSEN Group
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 TechnipFMC plc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Oceaneering International Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The the Reporting Teams
13.2 Word Index

LIST OF TABLES

Table 1. Asset Integrity Management Market Segmentation
Table 2. List of Vendors
Table 3. Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million) – by Service Type
Table 5. Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million) – by End User
Table 6. Europe: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 7. Germany: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 8. Germany: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 9. United Kingdom: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 10. United Kingdom: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 11. France: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 12. France: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 13. Italy: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 14. Italy: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 15. Russian Federation: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 16. Russian Federation: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 17. Rest of Europe: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by Service Type
Table 18. Rest of Europe: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million) – by End User
Table 19. Heat Map Analysis by Key Players
Table 20. List of Abbreviation

LIST OF FIGURES

Figure 1. Asset Integrity Management Market Segmentation, by Country
Figure 2. Ecosystem: Asset Integrity Management Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asset Integrity Management Market Revenue (US$ Million), 2020-2030
Figure 5. Asset Integrity Management Market Share (%) – by Service Type (2022 and 2030)
Figure 6. Non-Destructive Testing (NDT) Inspection: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Corrosion Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Pipeline Integrity Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Structural Integrity Management: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Risk-Based Inspection (RBI): Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Others: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Asset Integrity Management Market Share (%) – by End User (2022 and 2030)
Figure 13. Oil & Gas: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Power: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Marine: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Mining: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Aerospace: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Others: Asset Integrity Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Europe Asset Integrity Management Market, by Country – Revenue (2022) (US$ Million)
Figure 20. Europe: Asset Integrity Management Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 21. Germany: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)
Figure 22. United Kingdom: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)
Figure 23. France: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)
Figure 24. Italy: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)
Figure 25. Russian Federation: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)
Figure 26. Rest of Europe: Asset Integrity Management Market – Revenue and Forecast to 2030(US$ Million)