The global fire protection systems market for the oil and gas industry has been analyzed in a recent market intelligence report by Transparency Market Research. The report states that the market will exhibit a healthy 6.48% CAGR from 2015 through 2023, rising from a valuation of US$5.08 bn in 2014 to US$8.93 bn by 2024.The report is titled “Fire Protection Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023,” and is available on the company’s website for sale.
Fire protection systems include a variety of methods and technologies employed with a view of detecting and suppressing fires. Owing to the excellent volatility of most products, the oil and gas industry is highly vulnerable to fire hazards and requires appropriate measures to ensure the safety of infrastructure and personnel. This is a crucial reason for a variety of fire detection and suppression systems being installed at production and processing sites in the industry. Installation of a variety of fire protection systems in the oil and gas industry is also governed by stringent government regulations across most regional markets.
The oil and gas industry has three broad operational sectors that present specific requirements for fire protection systems owing to the various kinds of fire hazards commonly seen – upstream, downstream, and midstream. On the basis of fire hazards and the technologies available in the market to manage them, the market has been segmented into fire suppression systems and fire detection systems.
The segment of fire detection systems is further segmented into flame detectors, smoke detectors, heat detectors, alarms, and gas detectors. The segment of fire suppression systems is further segmented into water, gas, foam, and dry chemicals.
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In 2014, the segment of fire detection systems dominated, accounting for a substantial 66% share in the global fire protection systems market for the oil and gas industry. The wide range of applications of these products and the high demand across major regional markets is the major factor that allowed the sector take the dominant position.
The report presents a detailed overview of the global fire protection systems market for the oil and gas industry. The report presents thorough business profiles, details pertaining to finances, revenues, major product and technological developments, product portfolio, and a variety of other crucial market data pertaining to some of the key vendors operating in the global fire protection systems market for the oil and gas industry.
Some of the major vendors in the market profiled in the report are Blaze Manufacturing Solutions Ltd., Drägerwerk AG & Co. KGaA, 3M, Consilium AB Publ., Fire Protection Engineering A/S, Emerson Electric Co., Deluge Offshore & Marine Pte Ltd., Honeywell International, Inc., Knowsley SK Limited, Johnson Controls plc,, MSA Safety Incorporated, Trelleborg AB, Unisafe Fire Protection Specialists LLC, Siemens AG, and Wilhelmsen Ships Service.
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