The Oilfield Integrity Management Market size was valued at USD 14.22 billion in 2022 and is expected to grow to USD 26.51 billion by 2030 and grow at a CAGR of 8.1 % over the forecast period of 2023-2030.
The fields of oil Asset Integrity Management System, a more general term, includes a subset called integrity management. Maintaining an oil field's integrity entails not only maintaining the facility's infrastructure but also taking care of the safety requirements of those who work there. Deep sea oil drilling is a common practise, and machine maintenance is the most important task. Steel constructions are regularly forced off the road and cause delays due to salinity, ocean acidity, and coastal air oxidation. Additionally, maintaining the workforce generally becomes crucial in remote areas since they pose particular health issues in a dangerous environment. Integrity Management prevents unjustified work stoppages by keeping upkeep of people and equipment at the centre of operations.
It is important to highlight that despite the fact that sustainable development has compelled industrial thought to turn to alternative energy sources, the usage of fossil fuels appears to be only slightly set to decline in the next years.
KEY DRIVERS:
Growing focus on remote monitoring
Rising production and exploration activities
RESTRAIN:
Volatility in oil prices.
The main factor affecting the whole oil and gas value chain is the price of crude oil. Due to a variety of variables, including shifting crude oil demand, OPEC and non-OPEC supply, fierce competition between the US and OPEC nations, and the shale gas revolution, the oil and gas business is always seeing variations in crude oil prices. In addition, corporations that produce oil and gas are seeing a decline in revenue, profitability, and operating margins as a result of the falling prices.
OPPORTUNITY:
Digitalization in Oilfield Integrity
Focused on expanding its product line and Utilize channels to market new products
Numerous small and major businesses have supplied goods for a variety of applications, changing the competitive environment. These players mostly operate at the national and regional levels, which restricts their ability to successfully meet international demands. To hold a significant presence globally, some of the company profiles for well-known organisations, including Baker Hughes Company, Schlumberger Limited, Halliburton, and Oceaneering International, Inc., among others, have a significant integration with local sales partners.
CHALLENGES:
While making purchases of various oilfield services because of fluctuations in oil prices.
Russia's invasion of Ukraine has had a significant impact on people, the economy, and industry. Along with supply networks, industries, and economies, it has disturbed people's lives and way of life. Like many other industries, the energy sector is currently undergoing uncertainty. Even before the battle really escalated, oil prices were increasing all across the world. But after Russia invaded Ukraine, the cost of crude oil on the international market soared, rising from around $76 per barrel at the beginning of January 2022 Because of increased demand brought on by the world economies' recovery from the COVID-19 pandemic and insufficient investment in the oil and gas sector, the price of crude oil was already high even before the conflict.
IMPACT OF ONGOING RECESSION
Currently, oil prices are falling due to the pessimistic outlook for global growth, with Brent futures trading at about Prior to Russia's invasion of Ukraine, the USD was at a low of USD 92/b. Prices have dropped more than 30% since reaching a top of USD 139/b for the year in March, and they seem certain to stay at least at these levels through the end of 2022. We are dropping our perspective for WTI to USD 90/b from USD 110/b and cutting our projections for average Q4 all prices to USD 100/b in Brent from USD 115/p earlier.
By Management Type
Planning
Predictive Maintenance & Inspection
Data Management
Corrosion Management
Monitoring System
By Component
Hardware
Software
Services
By Application
Onshore
Offshore
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Europe is predicted to develop quicker throughout the projected period. Due to investments made by nations like Norway and the U.K. in the exploration of new offshore hydrocarbon deposits to boost domestic production. Due to increased investments in onshore and offshore exploration and production operations to enhance crude oil output to meet future energy demand, Asia Pacific is anticipated to have the second-largest market share for oilfield integrity management.
Latin American nations are continuously concentrating on expanding offshore exploration efforts to meet their rising oil demand. Due to the significant expenditures made in oil and gas exploration, Brazil and Argentina are anticipated to dominate the regional market.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Schlumberger (US), Halliburton (US), Baker Hughes Company (US), Siemens (Germany), Emerson (US), IBM (US), and Oracle (US), Aker Solutions (Norway), Wood Group (UK), SGS (Switzerland), Oceaneering International (US), TechnipFMC (UK), and other players are listed in a final report.
| Report Attributes | Details |
| Market Size in 2022 | US$ 14.22 Bn |
| Market Size by 2030 | US$ 26.51 Bn |
| CAGR | CAGR of 8.1 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Management Type (Planning, Predictive Maintenance & Inspection, Data Management, Corrosion Management, Monitoring System) • By Component (Hardware, Software, Services) • By Application (Onshore, Offshore) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Schlumberger (US), Halliburton (US), Baker Hughes Company (US), Siemens (Germany), Emerson (US), IBM (US), and Oracle (US), Aker Solutions (Norway), Wood Group (UK), SGS (Switzerland), Oceaneering International (US), TechnipFMC (UK) |
| Key Drivers | • Growing focus on remote monitoring • Rising production and exploration activities |
| Market Restraints | • Volatility in oil prices. |
Ans: Oilfield Integrity Management Market is anticipated to expand by 8.1 % from 2023 to 2030.
Ans: USD 26.51 billion is expected to grow by 2030.
Ans: Oilfield Integrity Management Market size was valued at USD 14.22 billion in 2022
Ans: Growing focus on remote monitoring and Rising production and exploration activities.
Ans: Digitalization in Oilfield Integrity and Focused on expanding its product line and Utilize channels to market new products.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Oilfield Integrity Management Market Segmentation, By Management Type
8.1 Planning
8.2 Predictive Maintenance & Inspection
8.3 Data Management
8.4 Corrosion Management
8.5 Monitoring System
9. Oilfield Integrity Management Market Segmentation, By Component
9.1 Hardware
9.2 Software
9.3 Services
10. Oilfield Integrity Management Market Segmentation, By Application
10.1 Onshore
10.2 Offshore
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Oilfield Integrity Management Market by Country
11.2.2North America Oilfield Integrity Management Market by Management Type
11.2.3 North America Oilfield Integrity Management Market Component
11.2.4 North America Oilfield Integrity Management Market by Application
11.2.5 USA
11.2.5.1 USA Oilfield Integrity Management Market by Management Type
11.2.5.2 USA Oilfield Integrity Management Market by Component
11.2.5.3 USA Oilfield Integrity Management Market by Application
11.2.6 Canada
11.2.6.1 Canada Oilfield Integrity Management Market by Management Type
11.2.6.2 Canada Oilfield Integrity Management Market by Component
11.2.6.3 Canada Oilfield Integrity Management Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Oilfield Integrity Management Market by Management Type
11.2.7.2 Mexico Oilfield Integrity Management Market by Component
11.2.7.3 Mexico Oilfield Integrity Management Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Oilfield Integrity Management Market by Country
11.3.1.2 Eastern Europe Oilfield Integrity Management Market by Management Type
11.3.1.3 Eastern Europe Oilfield Integrity Management Market by Component
11.3.1.4 Eastern Europe Oilfield Integrity Management Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Oilfield Integrity Management Market by Management Type
11.3.1.5.2 Poland Oilfield Integrity Management Market by Component
11.3.1.5.3 Poland Oilfield Integrity Management Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Oilfield Integrity Management Market by Management Type
11.3.1.6.2 Romania Oilfield Integrity Management Market by Component
11.3.1.6.4 Romania Oilfield Integrity Management Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Oilfield Integrity Management Market by Management Type
11.3.1.7.2 Turkey Oilfield Integrity Management Market by Component
11.3.1.7.3 Turkey Oilfield Integrity Management Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Oilfield Integrity Management Market by Management Type
11.3.1.8.2 Rest of Eastern Europe Oilfield Integrity Management Market by Component
11.3.1.8.3 Rest of Eastern Europe Oilfield Integrity Management Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Oilfield Integrity Management Market by Management Type
11.3.2.2 Western Europe Oilfield Integrity Management Market by Component
11.3.2.3 Western Europe Oilfield Integrity Management Market by Application
11.3.2.4 Germany
11.3.2.4.1 Germany Oilfield Integrity Management Market by Management Type
11.3.2.4.2 Germany Oilfield Integrity Management Market by Component
11.3.2.4.3 Germany Oilfield Integrity Management Market by Application
11.3.2.5 France
11.3.2.5.1 France Oilfield Integrity Management Market by Management Type
11.3.2.5.2 France Oilfield Integrity Management Market by Component
11.3.2.5.3 France Oilfield Integrity Management Market by Application
11.3.2.6 UK
11.3.2.6.1 UK Oilfield Integrity Management Market by Management Type
11.3.2.6.2 UK Oilfield Integrity Management Market by Component
11.3.2.6.3 UK Oilfield Integrity Management Market by Application
11.3.2.7 Italy
11.3.2.7.1 Italy Oilfield Integrity Management Market by Management Type
11.3.2.7.2 Italy Oilfield Integrity Management Market by Component
11.3.2.7.3 Italy Oilfield Integrity Management Market by Application
11.3.2.8 Spain
11.3.2.8.1 Spain Oilfield Integrity Management Market by Management Type
11.3.2.8.2 Spain Oilfield Integrity Management Market by Component
11.3.2.8.3 Spain Oilfield Integrity Management Market by Application
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Oilfield Integrity Management Market by Management Type
11.3.2.9.2 Netherlands Oilfield Integrity Management Market by Component
11.3.2.9.3 Netherlands Oilfield Integrity Management Market by Application
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Oilfield Integrity Management Market by Management Type
11.3.2.10.2 Switzerland Oilfield Integrity Management Market by Component
11.3.2.10.3 Switzerland Oilfield Integrity Management Market by Application
11.3.2.11.1 Austria
11.3.2.11.2 Austria Oilfield Integrity Management Market by Management Type
11.3.2.11.3 Austria Oilfield Integrity Management Market by Component
11.3.2.11.4 Austria Oilfield Integrity Management Market by Application
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Oilfield Integrity Management Market by Management Type
11.3.2.12.2 Rest of Western Europe Oilfield Integrity Management Market by Component
11.3.2.12.3 Rest of Western Europe Oilfield Integrity Management Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Oilfield Integrity Management Market by Country
11.4.2 Asia-Pacific Oilfield Integrity Management Market by Management Type
11.4.3 Asia-Pacific Oilfield Integrity Management Market by Component
11.4.4 Asia-Pacific Oilfield Integrity Management Market by Application
11.4.5 China
11.4.5.1 China Oilfield Integrity Management Market by Management Type
11.4.5.2 China Oilfield Integrity Management Market by Application
11.4.5.3 China Oilfield Integrity Management Market by Component
11.4.6 India
11.4.6.1 India Oilfield Integrity Management Market by Management Type
11.4.6.2 India Oilfield Integrity Management Market by Component
11.4.6.3 India Oilfield Integrity Management Market by Application
11.4.7 Japan
11.4.7.1 Japan Oilfield Integrity Management Market by Management Type
11.4.7.2 Japan Oilfield Integrity Management Market by Component
11.4.7.3 Japan Oilfield Integrity Management Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Oilfield Integrity Management Market by Management Type
11.4.8.2 South Korea Oilfield Integrity Management Market by Component
11.4.8.3 South Korea Oilfield Integrity Management Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Oilfield Integrity Management Market by Management Type
11.4.9.2 Vietnam Oilfield Integrity Management Market by Component
11.4.9.3 Vietnam Oilfield Integrity Management Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Oilfield Integrity Management Market by Management Type
11.4.10.2 Singapore Oilfield Integrity Management Market by Component
11.4.10.3 Singapore Oilfield Integrity Management Market by Application
11.4.11 Australia
11.4.11.1 Australia Oilfield Integrity Management Market by Management Type
11.4.11.2 Australia Oilfield Integrity Management Market by Component
11.4.11.3 Australia Oilfield Integrity Management Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Oilfield Integrity Management Market by Management Type
11.4.12.2 Rest of Asia-Pacific Oilfield Integrity Management Market by Component
11.4.12.3 Rest of Asia-Pacific Oilfield Integrity Management Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Oilfield Integrity Management Market by Country
11.5.1.2 Middle East Oilfield Integrity Management Market by Management Type
11.5.1.3 Middle East Oilfield Integrity Management Market by Component
11.5.1.4 Middle East Oilfield Integrity Management Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Oilfield Integrity Management Market by Management Type
11.5.1.5.2 UAE Oilfield Integrity Management Market by Component
11.5.1.5.3 UAE Oilfield Integrity Management Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Oilfield Integrity Management Market by Management Type
11.5.1.6.2 Egypt Oilfield Integrity Management Market by Component
11.5.1.6.3 Egypt Oilfield Integrity Management Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Oilfield Integrity Management Market by Management Type
11.5.1.7.2 Saudi Arabia Oilfield Integrity Management Market by Component
11.5.1.7.3 Saudi Arabia Oilfield Integrity Management Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Oilfield Integrity Management Market by Management Type
11.5.1.8.2 Qatar Oilfield Integrity Management Market by Component
11.5.1.8.3 Qatar Oilfield Integrity Management Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Oilfield Integrity Management Market by Management Type
11.5.1.9.2 Rest of Middle East Oilfield Integrity Management Market by Component
11.5.1.9.3 Rest of Middle East Oilfield Integrity Management Market by Application
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Oilfield Integrity Management Market by Management Type
11.5.2.3 Africa Oilfield Integrity Management Market by Component
11.5.2.4 Africa Oilfield Integrity Management Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Oilfield Integrity Management Market by Management Type
11.5.2.5.2 Nigeria Oilfield Integrity Management Market by Component
11.5.2.5.3 Nigeria Oilfield Integrity Management Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Oilfield Integrity Management Market by Management Type
11.5.2.6.2 South Africa Oilfield Integrity Management Market by Component
11.5.2.6.3 South Africa Oilfield Integrity Management Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Oilfield Integrity Management Market by Management Type
11.5.2.7.2 Rest of Africa Oilfield Integrity Management Market by Component
11.5.2.7.3 Rest of Africa Oilfield Integrity Management Market by Application
11.6 Latin America
11.6.1 Latin America Oilfield Integrity Management Market by Country
11.6.2 Latin America Oilfield Integrity Management Market by Management Type
11.6.3 Latin America Oilfield Integrity Management Market by Component
11.6.4 Latin America Oilfield Integrity Management Market by Application
11.6.5 Brazil
11.6.5.1 Brazil America Oilfield Integrity Management Market by Management Type
11.6.5.2 Brazil America Oilfield Integrity Management Market by Component
11.6.5.3 Brazil America Oilfield Integrity Management Market by Application
11.6.6 Argentina
11.6.6.1 Argentina America Oilfield Integrity Management Market by Management Type
11.6.6.2 Argentina America Oilfield Integrity Management Market by Component
11.6.6.3 Argentina America Oilfield Integrity Management Market by Application
11.6.7 Colombia
11.6.7.1 Colombia America Oilfield Integrity Management Market by Management Type
11.6.7.2 Colombia America Oilfield Integrity Management Market by Component
11.6.7.3 Colombia America Oilfield Integrity Management Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Oilfield Integrity Management Market by Management Type
11.6.8.2 Rest of Latin America Oilfield Integrity Management Market by Component
11.6.8.3 Rest of Latin America Oilfield Integrity Management Market by Application
12 Company Profile
12.1 Schlumberger (US)
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Halliburton (US)
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Baker Hughes Company (US)
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Siemens (Germany)
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Emerson (US)
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 IBM (US)
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Oracle (US)
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Aker Solutions (Norway)
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Wood Group (UK)
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 SGS (Switzerland)
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Oceaneering International (US)
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Product/Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 TechnipFMC (UK)
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Product/Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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