The global enhanced fire protections systems market has gained demand in recent years due to the growth of the oil and gas industry in regions such as Latin America, Asia Pacific, Northern Europe, and Western Africa. Increased operations in the industry have naturally led to high demand for protective measures in the form of enhanced fire protection systems.
Albany, NY -- (SBWIRE) -- 10/23/2015 -- Enhanced fire protection systems are an essential requirement for oil and gas installations. The safety regulations laid down by hydrocarbon agencies of different nations have led offshore oil and gas operators to increase investments for fire safety solutions. Stringent regulatory policies have come into play in the offshore industry, following the oils spill and explosion in the Gulf of Mexico in 2010. Increasing investment by exploration firms in the offshore production sector has attracted several fire safety solution providers toward this sector. The offshore fire protection market requires effective solutions against a wide range of fire risks. Companies operating in the market have thus developed several products considering the specific requirements and the hostile operating conditions in the offshore oil and gas industry. With the increase in exploration activities by upstream companies in the deepwater offshore areas, demand for deepwater rigs such as semi-submersibles and drillships is likely to increase. Growth in the LNG market in the Asia-Pacific region has also led to the development of advanced FLNG systems, which are primarily built to cater to the growing energy requirements of developing economies. The business of fire safety solution providers is anticipated to grow along with the construction of new offshore rigs and development of advanced systems such as FLNGs in the Asia-Pacific region.
Complete Report with TOC @ http://www.mrrse.com/enhanced-fire-protection-market
The Rest of the World (RoW) is the most prominent market for enhanced fire safety solutions. The offshore development projects in deepwater basins of Brazil utilize advanced offshore installations during exploration and production phases. Several offshore rigs are being built in Brazil to cater to the growing offshore requirements for offshore facilities in the country. The planned offshore expansion projects in the west coast of Africa and the Middle East are expected to further support growth of fire safety solutions in future. In the European region, the strict operating norms in the North Sea have always attracted fire safety solution providers to develop specific products for this basin. Norway and the U.K. account for the majority of production in Europe. However, due to dwindling hydrocarbon reserves in this basin, the market for enhanced fire protection systems is anticipated to decline in the European region. Investment in the offshore areas of Azerbaijan and Kazakhstan is likely to support growth of the fire safety protection systems market in Europe.
Currently, the offshore drilling rigs form the major market for fire safety protection systems. Though the rig utilization rate is declining slowly over the years, major markets such as Latin America and Venezuela are likely to hold strong positions in the offshore drilling market. FPSO and FLNG markets are anticipated to grow as one prominent segment in the fire safety market in future. The FLNG installations planned in Australia will attract substantial investment for fire safety solutions. Demand for fire solutions in the fixed platform segment is anticipated to remain high in some regions of the world. The shallow water installations planned in several countries in Asia-Pacific and Europe are expected to account for a substantial share of the fire safety market in terms of revenue. There are two segments for preventing and controlling fire on offshore oil and gas facilities, active control and prevention systems, and passive protection systems. The expenditure on active solutions is significantly high when compared to passive solutions. However, the safety expenditure may vary depending on the requirements and design of the hydrocarbon production facilities.
The companies supplying fire safety protection systems offer an extensive product portfolio of numerous products designed specifically for the offshore industry. Several companies such as Deluge Offshore & Marine Pte, Ltd. and Water Mist Engineering AS focus on providing a wide range of safety solutions. On the other hand, suppliers such as Ultra Fog AB focus on providing niche product to meet the fire safety requirements in the offshore industry. After-sales and miscellaneous services help companies establish long-term relationships with major oil and gas operators. However, fire safety solution providers with patented products offering after-sales and miscellaneous services enjoy an edge over other market players. Rapid development of the offshore hydrocarbon sector in the RoW segment and Asia Pacific is likely to attract more solution providers to focus on these regions.
Global enhanced fire protection systems (Oil and Gas) market, revenue share by end-user segment, 2013 and 2020.
Request a Sample Copy of the Report @ http://www.mrrse.com/sample/625
About MRRSE
MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.