Best Practices: Asset Maintenance Strategies For Energy Transition

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Executive Summary

This report provides industrial operations managers, and executives across asset-intensive industries, with an overview of best practices for asset maintenance strategies in emerging industries such as renewables, carbon capture and green hydrogen. To gather best practice insights, Verdantix conducted in-depth interviews with asset maintenance solution and service providers and surveyed 304 managers in operations, maintenance and engineering roles. Verdantix research finds that the energy transition initiative is driving firms to invest in emerging industries, but that little consideration has so far been given to best practices for asset maintenance. Experience from industry experts shows that to optimize the performance, longevity and sustainability of assets in emerging industries, practitioners should take the learnings realized from traditional asset maintenance processes, and capitalize on developments in new asset management technology. 

Table of contents

What is the current state of the asset maintenance market?
Energy transition agendas are driving the growth of emerging industries
Process expertise and capital restrictions across emerging industries challenge traditional asset maintenance practices
Effective strategies for maintaining assets in emerging industries are still in their initial phases
Learn from and evaluate existing asset maintenance processes
Digitize asset maintenance processes
Firms in emerging industries have access to a variety of asset maintenance solutions to boost reliability and uptime

About the authors

Kiran Darmasseelane

Senior Analyst
Kiran is a Senior Analyst in the Verdantix Operational Excellence practice. His current research agenda focuses on emerging solutions and global market trends across the process industries, with a particular interest in APM, AIP and process simulation solutions. Prior to joining Verdantix, Kiran worked at Siemens DI, where he gained experience in advanced process modelling and digital twin technologies. Kiran holds an MEng in Chemical Engineering from the University of Nottingham.

Malavika Tohani

Research Director, Operational Excellence
Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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