The global asset integrity
management services market size is expected to grow from USD 19.4 billion in 2020 to USD 24.2
billion by 2025 at a CAGR of 4.5%. The major factors driving the market growth
include the growing demand for asset integrity management in new offshore
fields in deep waters, declining efficiencies of aging assets, and the need for
securing operational safety in various industries, such as oil and gas and
power.
SGS SA
(Switzerland), Bureau Veritas SA (France), Intertek Group plc (UK), TechnipFMC
plc (UK), Aker Solutions ASA (Norway), Applus+ (Spain), DNV GL (Norway), John
Wood Group PLC (US), Oceaneering International, Inc. (US), and Fluor Corporation
(US) are the major players operating in the asset integrity management services
market. These players have adopted various growth strategies such as
expansions, partnerships, collaborations, acquisitions, agreements, and
product/service launch to increase their presence in the global market.
Aker
Solutions ASA (Norway)
Aker Solutions ASA
is a systems, products, and services provider to the oil and gas industry. The
company operates across 20 countries worldwide through 3 major segments,
namely, Projects, Services, and Others. The company’s Projects business segment
provides greenfield engineering and procurement, brownfield modifications, and
subsea equipment and systems. The Services segment provides repair,
maintenance, spares supply, installation, and commissioning of subsea equipment
and production assets. As of December 2019, Aker Solutions had 15,656 employees
present in 25 countries worldwide. Aker Solutions offers a variety of asset
integrity management services. It has expanded its portfolio from the basic
risk-based analysis to specific subsea integrity management services. The
company mainly caters to international, national, and independent oil and gas
and energy companies.
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Intertek
Group plc (UK)
Intertek Group Plc
provides quality assurance, testing, inspection, and certification services to
industries worldwide. The company has more than 1,000 laboratories and offices
in about 100 countries. Intertek Group operates through 3 major segments,
namely, Products, Trade, and Resources. The company’s Resources segment
includes 2 business lines, namely, Industry Services and Minerals. The Industry
Services business provides a broad range of total quality assurance solutions
to optimize the use of customers’ assets and minimize risk in their supply
chains. Some of the key services include asset integrity management, technical
inspection, ongoing training services, and analytical testing. Its Minerals
business provides a wide range of assurance, testing, inspection, and
certification (ATIC) services to the mining and minerals exploration
industries.
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