Enhanced
fire protection systems market have become a necessity in present
times, as the offshore gas and oil industry is experiencing
continuous expansion in the market. These systems are utilized to
execute safe operations at the hydrocarbon units.
The
standards and regulatory frameworks, which governments have
established, have resulted in oil and gas companies allocating a
considerable share of capital towards safety measures ensuring
protection against fire. Rise in investment by exploration
organizations in the offshore oil and gas manufacturing industry has
attracted various fire safety measures providers toward this market.
The
offshore fire protection market needs efficient safety solutions
against an array of fire hazards. Firms functional in this market,
thus, have various products considering the specific necessities and
the unreceptive operating situations in the offshore oil and gas
market.
Enhanced
Fire Protection Systems Industry: How the Market Runs
The
global enhanced fire protection systems market is classified into
different segments based on end-users, systems, and region. These
segments are compared to study the market trends that assist in
predicting the future of enhanced fire protection systems industry.
On
the basis of end-users, the market for enhanced fire protection
systems is categorized into FPSO and FLNG, fixed platforms, and
offshore rigs. The LNG market is experiencing considerable
development the Asia-Pacific region, which has resulted in the
development of advanced FLNG systems. At present, the offshore rigs
make the main market for enhanced fire protection systems. FPSO and
FLNG markets are expected to grow together as a single segment in
coming years in the market for enhanced fire protection systems.
Based
on systems, the enhanced fire protection systems market is segmented
into two categories, active enhanced fire protection systems and
passive enhanced fire protection systems. The expenses on active
systems are considerably higher than passive systems. However, the
safety expenses vary depending upon the designs and requisites of the
hydrocarbon production facilities. The demand for passive enhanced
fire protection systems are comparatively higher in FPSOs and fixed
platforms.
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Geographically,
on a bigger scale, the enhanced fire protection systems markets in
North America, Europe, Asia Pacific, and Rest of the world are the
segments of the global enhanced fire protection systems market. These
markets are further classified into different smaller regional
markets such as the United Kingdom, Norway, Rest of Europe, China,
Singapore, Australia, South Korea, and Rest of Asia Pacific.
Having
Brazil and the west coast of Africa being the chief contributors to
the enhanced fire protection systems market, the Rest of the World
market has emerged as the largest market for enhanced fire protection
systems in offshore gas and oil industry. Europe follows the Rest of
the World’s market for enhanced fire protection systems in terms of
expenses. Norway and the United Kingdom have stringent fire safety
demands, which press on offshore organizations to invest a great deal
in enhanced fire protection systems market. Owing to the decreasing
production of oil in the North Sea, the market share of Europe is
expected to decrease extensively by 2020.
The
Asia-Pacific market for enhanced fire protection systems is expected
to garner market share with growing investment in offshore
development projects during 2014 to 2020. Offshore development
projects, which are planned in Australia, China, and Malaysia, are
likely to make hefty investments to the enhanced fire protection
systems market in this region.
The
expenses on enhanced fire protection systems for the offshore gas and
oil industry, worldwide, were valued at US$3218.7 million in 2013. It
is expected to reach US$4142.4 million in 2020, increasing at 3.7%
CAGR during 2014 to 2020.
Enhanced
Fire Protection Systems Industry: Cost Improvements to Attract New
Players
The
major companies in the fire protection systems industry are Ultra Fog
AB, Consilium AB, Marioff Corporation Oy, Fire Protection Engineering
AS, Deluge Offshore & Marine Pte Ltd., Blaze Manufacturing
Solutions Ltd., Knowsley SK Ltd., Deluge Offshore & Marine Pte
Ltd., Minimax GmbH & Co. KG, and Water Mist Engineering AS.
There
is a possibility of improvements in costs owing to technical
advancements in this market. This expected cost improvement is likely
to bring in more players increasing competition in the enhanced fire
protection systems market.
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