Asset Integrity Management to Showcase Continued Growth in the Coming Years

Asset Integrity Management (AIM) is a term used to describe the practice of managing an asset (power plant, oil rig, refinery, etc) to ensure its ability to perform its function effectively and efficiently is maintained.

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Asset integrity management refers to a type of standard of operating an asset that basically targets the safety, health, protect equipment and environment. It operates effectively and efficiently to ensure reliable operation for achieving objectives. It possesses various advantages such as reduced risks and increase reliability, increased safety and enhancing environmental performances. This is widely utilized in oil and gas power, mining, aerospace and other industry.

Asset integrity management in new offshore fields in deep waters, increased demand from utilities sector and rise in telecommunications tower installations will emerge as the major factor driving market growth. Furthermore, the stringent government safety regulations and quality control requirements, climatic changes affecting the operations of numerous industries and declining oil and gas prices increasing the demand for maintaining the asset and plant will further aggravate.

Important Types:

— Corrosion Management
— Hazard Identification (HAZID) Study
— Reliability
— Availability
— Maintainability (RAM) Study
— Pipeline Integrity Management
— Nondestructive Testing (NDT) Inspection
— Risk-Based Inspection (RBI)
— Structural Integrity Management
— Others

North America region dominates the asset integrity management market due to the availability of large number of exploration plants and existing critical and complicated equipment in the region. Asia-Pacific region is projected to undergo substantial during the forecast period owing to the rising presence of power, mining, and oil and gas industries in the region.

Top Companies:

Asset Integrity Engineering
General Electric
STAT Marine
Viper Innovations
Oceaneering International
Factory IQ
Element Materials Technology
Aker Solutions
Geanti Marine Limited
Bureau Veritas