Growing Demand from Oil and Gas Industry despite Fall in Oil Prices D oct 2016

Fire Protection Systems Market REPORT DESCRIPTION Fire Protection Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023 Transparency Market Research has released a new market report titled “Fire Protection Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.” According to the report, the Global Fire Protection Systems (for Oil and Gas) market stood at US$5.08 bn in 2014 and is forecast to reach US$8.93 bn by 2024 at a CAGR of 6.48% from 2015 to 2023. Browse Fire Protection Systems Market Report with Full TOC at : http://www.transparencymarketresearch.com/enhanced-fire-protection-market.html Fire protection systems include fire detection systems to detect fire and fire suppression systems to suppress fire. Oil and gas industry, being one of the most hazardous areas to work, requires appropriate safety. As a result of which, high quality safety systems are installed at the sites to ensure the safety of onsite personnel and infrastructure. Stringent safety regulations by government institutions around the globe play a major role in the growth for fire protection systems market. Oil & gas industry has three operational sectors – upstream, midstream, and downstream. Considering the wide areas of application oil and gas, the operational sectors are further divided into onshore and offshore applications for fire protection systems. The onshore upstream operational sector comprises onshore drilling rigs, whereas offshore upstream operational sector includes offshore platforms, drill ships, and offshore oil rigs. The onshore midstream operational sector includes accommodation areas and pipelines, while offshore midstream operational sector includes FPSO, LNG carriers, and offshore support and supply vessels. The downstream operational sector has been sub-segmented into four applications: production vessels, production platforms, refineries, and petrochemicals. Due to wide areas of operations in the oil & gas sector, the fire hazards are also of various types which need specific detection and suppression systems. Hence, on the basis of type of fire hazards and the available technology, fire protections systems are segmented into fire detection systems and fire suppression systems. These systems are further sub-segmented based on the mostly used technology. Fire detection systems include smoke detectors, heat detectors, gas detectors (fixed and portable), flame detectors, and alarms (conventional, addressable, and notification devices). Fire suppression systems includes foam, dry chemicals, gas, and water (low pressure and high pressure). Owing to the wide range of applications and high demand, fire detection systems held the largest share of 66% of the fire protection systems market, whereas fire suppression systems occupied rest 34% of the market share in 2014. The fire protection systems market is also segmented on the basis of region into North America, Europe, Middle East and Africa, Asia Pacific, and South and Central America. Transparency Market Research 2

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