DUBLIN--(BUSINESS WIRE)--The "Oil ad Gas Asset Integrity Management Services Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The oil and gas asset integrity management services market is expected to register a CAGR of about 8.67% during the forecast period.

Companies Mentioned

• Aker Solutions ASA
• Bureau Veritas S A
• Genesis Oil & Gas Consultants Limited
• Intertek Group PLC
• Oceaneering International Inc.
• Fluor Corporation
• Technip FMC
• Applus RTD Group
• ABS Consulting Inc.
• EM&I Ltd
• Meridium Inc.
• Worley Parson Limited

Key Market Trends

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.
• Capacity upgrades may lead the way, as industry players invest in infrastructure that can handle more crude oil. In addition, the structure and the design of plants are becoming complex day-by-day.
• Furthermore, in the past two decades, many major accidents were witnessed in the process plants, worldwide, owing to the factors, like delay in handing equipment for inspection, overstretching equipment run, improper maintenance practices, not undertaking proper inspection upon repair, and others.
• Due to the aforementioned factors, the refining businesses and companies are now actively investing in asset integrity management services, in order to increase their productivity and reduce costs. Hence, the downstream sector is expected to witness a significant growth during the forecast period.

North America to Dominate the Market

• North America has one of the oldest midstream infrastructures, with many oil and gas pipelines older than 40 years. The upstream infrastructure in the country 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 large and aging infrastructure, North America is expected to lead the oil and gas asset integrity management services market during the forecast period.
• Furthermore, after the explosion of the Deepwater Horizon in the Gulf of Mexico, the United States reassessed and strengthened the safety requirements for offshore drilling, exploration, and production.
• Furthermore, about 2,996 active production platforms exist on the US Outer Continental Shelf, with about 40% of these facilities older than 25 years.
• The US government recently put forward several proposals for offering new offshore territories for drilling activities. These programs, once approved, are expected to attract companies to invest in the offshore development projects. This factor, in turn, is expected to augment the growth of the market during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2025

4.3 Recent Trends and Developments

4.4 Market Dynamics

4.4.1 Drivers

4.4.2 Restraints

4.5 Government Policies and Regulations

4.6 Supply Chain Analysis

5 MARKET SEGMENTATION

5.1 Location of Deployment

5.1.1 Onshore

5.1.2 Offshore

5.2 Sector

5.2.1 Upstream

5.2.2 Midstream

5.2.3 Downstream

5.3 Geography

5.3.1 North America

5.3.2 Asia-Pacific

5.3.3 Europe

5.3.4 South America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

6.3.1 Aker Solutions ASA

6.3.2 Bureau Veritas S A

6.3.3 Genesis Oil & Gas Consultants Limited

6.3.4 Intertek Group PLC

6.3.5 Oceaneering International Inc.

6.3.6 Fluor Corporation

6.3.7 Technip FMC

6.3.8 Applus RTD Group

6.3.9 ABS Consulting Inc.

6.3.10 EM&I Ltd

6.3.11 Meridium Inc.

6.3.12 Worley Parson Limited

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/i5m65

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