Fire Protection Systems Market
Increasing safety concerns is considered to be the primary driver for the market growth of fire protection systems in the oil & gas sector . Additionally , growing investments due to stringent regulations and technological advancements in fire protection systems are also driving the market growth . Furthermore , rising oil and gas exploration and production activities may also boost the market for fire protection systems .
Growth of the oil & gas industry plays a major role in the growth of fire protection systems market globally . A portion of the total project cost is dedicated for the on-site installation of safety equipment to ensure the safety of personnel and avoid any harm to the infrastructure . Fire protection systems occupy a major part of these safety equipment . Hence , the commencement of new oil & gas projects adds scope to the growth of fire protection systems market as well .
Fire protection systems have a defined life span and thus need to be replaced periodically . This offers a cyclic growth for the fire protection systems market . The revamp or expansion of existing oil & gas facilities or infrastructure , such as expansion of pipeline projects or revamp of aged refineries , also contribute to a considerable extent to the growth of the fire protection systems market .
In order to maintain and comply with the changing safety regulations , oil & gas operators need to upgrade the installed fire protection technology . For example , water sprinkler systems is a widely used fire suppression technology in the oil & gas industry . However , the new technology of water mist systems offers better cooling and suppression of fire . Due to their functional benefits , water mist systems are now replacing water sprinkler systems , further offering opportunities for the manufacturers to expand their market presence . Past accidents and disasters related to fire have also resulted in stringent regulations and higher safety standards . All these factors influence the fire protection systems market growth positively .
In order to understand the Global Fire Protection Systems ( for Oil and Gas ) market and further derive the forecast , region-specific safety regulations have been taken into consideration . For regions with no consolidated regulations , the installation trend of fire protection systems was considered .
Considering the operational pattern of the oil & gas industry in various regions , the fire protection systems market has been segmented as follows :
Global Fire Protection Systems ( for Oil and Gas ) Market : North America
North America Upstream Sector
Offshore Segment Offshore Platforms
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