Albany, NY -- (SBWIRE) -- 04/19/2016 -- Refineries are assets that require huge capital inflow for their successful construction. With the substantial political unrest in oil-producing countries affecting the hydrocarbon sector, safeguarding personal assets is of utmost importance for players in the refinery industry. Refineries are considered to be one of the most important elements of the hydrocarbons value chain. Gas and oil security solutions have thus become relevant in the hydrocarbons sector in a relatively short time.

Considering the history of the refinery sector, its future must be said to be still uncertain. Due to overcapacity, large refinery closures were observed in many countries in the recent past. However, with growing demand for various refined petroleum products, the refinery sector is expected to make a remarkable comeback globally. The emergence of strict security regulations laid down by several governments across the world is the major factor driving the global refinery security market.

Cyber Threats: Major Driving Factor for Refinery Security Market

The Global Refinery Security Market is predicted to face not only physical threats but also cyber threats. Along with physical threats, cyber threats are equally harmful for refinery security. Cyber threats have the potential to disrupt all the operations of a refinery. With additions in refinery capacity planned in many regions across the globe, the refinery security market is expected to develop rapidly in the near future. The growth of the global market for refineries is hampered mainly due to increased security threats from terrorist organizations and cyber criminals. This will create growth opportunities for the global refinery security market. Many companies operating in the refinery security market are predicted to introduce new refinery security solutions in the near future to fight cyber threats.

New Installations of Refineries to Drive Asia Pacific Refinery Security Market

The global refinery security market is segmented on the basis of security type and geography. Based on security type, the global refinery security market is classified into cyber security and physical security. Firewalls, antivirus systems, secure wired connections, and secure wireless connections are some of the solutions offered by the leading companies for cyber security. Physical security solutions include peripheral security solutions and building management systems. Disaster recovery and business continuity services have gained momentum since the past decade. All these factors are expected to significantly increase the need for refinery security services.

System integration and design is one of the prominent services offered by major companies operating in the refinery security market. By geography, the global refinery security market is classified into Asia Pacific, Europe, North America, and Rest of the World. The development of the global refinery security market is naturally dependent on the growth of the global refinery and global crude oil sectors. Thus, new installations of refineries in the Asia Pacific region are expected to drive the global refinery security market in the near future. Some of the leading companies in the global refinery security market are ABB Ltd., Lockheed Martin, CISCO, and Siemens AG.

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