The research analyst predicts the global FPS market
in the oil and gas industry to grow steadily at a CAGR of close to 4% during
the forecast period. One of the primary drivers for the growth of this market
is the stringent regulatory framework set up by the government. These
regulatory frameworks and standards state that every direct oil and gas
operators should allocate a certain share of their overall investments in fire
safety. As per these standards, the establishment of a health and safety
department in every oil and gas facility is mandatory to analyze and prevent
fires during onshore and offshore activities.
The use of eco-friendly fire-suppression systems is
another significant trend driving the growth of the FPS market. Rising
environmental awareness such as the need to reduce ozone depletion and global
warming has driven oil and gas operators to adopt environmentally friendly FPS
such as gaseous and water mist systems. Many oil and operators and FPS vendors
are developing fire suppression materials that are sustainable and effective.
End-user
segmentation and analysis of the FPS market in the oil and gas industry
- Upstream
- Midstream
- Downstream
The upstream segment led the FPS market during 2015,
with a market share of over 43%. The growing demand for oil and gas resources
has magnified upstream or exploration and production (E&P) activities
worldwide, leading to its dominance in the overall market. This rising E&P
activities coupled with the need to prevent fire hazards has contributed to the
growth of the FPS market.
Geographical
segmentation and analysis of the FPS market in the oil and gas industry
- Americas
- APAC
- EMEA
The Americas held the largest share of the FPS market
in the oil and gas industry and accounted for about 42% of the total market
share. The US and Canada are the major contributors in this region. For
instance, oil companies in Canada, especially in Calgary, Alberta, are making
massive investments in passive and active FPS.
Competitive
landscape and key vendors
The need to reduce the risks associated with
flammable and explosive products and the subsequent deployment of risk
management strategies has boosted the FPS market in the oil and gas industry.
Therefore, many providers have been motivated to enter the market due to the
rising oil and gas activities worldwide.
The leading
vendors in the market are -
- 3M
- KEVTA
- Kidde Fire Systems
- Orcus Fire & Risk
- Tyco International
Key questions
answered in the report include:
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global fire protection systems market in the oil and gas industry?
- What are the key market trends impacting the growth of the global fire protection systems market in the oil and gas industry?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global fire protection systems market in the oil and gas industry?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global fire protection systems market in the oil and gas industry?
Spanning over 85 pages, “Global Fire Protection Systems in Oil and Gas Markets
2016 - 2020” report covers Executive summary, Scope
of the report, Market research methodology, Introduction, Market landscape,
Market segmentation by end-user, Geographical segmentation, Market drivers,
Impact of drivers, Market challenges, Impact of drivers and challenges, Market
trends, Vendor landscape, Key vendor analysis, Appendix.
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