ResearchAndMarkets.com release report on asset integrity management market
Published by Aimee Knight,
Editorial Assistant
World Pipelines,
The "Global Asset Integrity Management Market with COVID-19 Impact by Service (NDT, RBI, Corrosion Management, Pipeline Integrity Management, HAZID Study, Structural Integrity Management, RAM Study), Industry, and Geography - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global asset integrity management services market size is estimated at US$19.4 billion in 2020. It is projected to reach US$24.2 billion by 2025; it is expected to grow at a CAGR of 4.5% from 2020 to 2025.
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. However, factors such as lack of skilled personnel for operating asset integrity management systems and software pose challenges for market growth.
COVID-19 has affected the operations and financial condition of asset integrity management service providers. The pandemic has resulted in a widespread health crisis, which is adversely affecting the financial markets and economies of countries and end-user industries. This is expected to lead to an economic downturn and negatively affect the market for asset integrity management services.
Read the article online at: https://www.worldpipelines.com/business-news/30112020/researchandmarketscom-release-report-on-asset-integrity-management-market/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Construction begins on Greensand’s carbon dioxide transit terminal at Port Esbjerg
When the tanks are full, the liquefied carbon dioxide will be loaded onto a dedicated carrier from Royal Wagenborg and shipped to the INEOS Nini platform in the Danish North Sea. From there, it will be safely injected via pipeline into subsurface reservoirs approximately 1800 m beneath the seabed for permanent storage.
