Oil and Gas Fire Protection System Market Overview
Oil and gas fire protection system is an automated fire protection system. It helps to minimize the fire related damages such as property loss, human life loss and others by detecting through various devices. There are various types of fire protection systems such as detector, suppressor and others. Further, the use of eco-friendly fire-suppression systems is another significant trend witnessed during last few years.
Market Size and Forecast
Global oil and gas fire protection system market is anticipated to flourish at a CAGR of 6.5% over the forecast period 2017-2024. Additionally, the various factors propelling the growth of oil and gas fire protection system market include growing awareness regarding the installation of fire safety systems and government fire safety regulations.
In terms of regional platform, the most prominent regional markets include North America and Europe. North America region is expected to dominate the market during the forecast period aided by the U.S. Further, increasing research & development activities related to fire protection system is believed to foster the growth of oil and gas fire protection system market in North America region. Furthermore, growing adoption of fire protection system by major oil and gas companies in North America region is projected to flourish the growth of oil and gas fire protection system market in this region by the end of 2024.
Europe region captured the second largest market of oil and gas fire protection system in terms of revenue in 2016. The major countries witnessing the augmented demand for oil and gas fire protection system include U.K., Germany and France. Further, growing concerns to prevent hazardous accidents and increasing innovations in the wireless sensor networks are projected to foster the growth of oil and gas fire protection system market in Europe region.
Asia-Pacific region is expected to witness a tremendous growth by the end of 2024. Additionally, this region is most lucrative market across the globe owing to emerging economies such as India and China. China has been the dominating country in this region owing to presence of numerous oil and gas companies and enhanced human machine interface (HMI) solutions.
Market Segmentation
Our in-depth analysis has segmented global oil and gas fire protection system market into the following segments:
By Technology
- Active Fire Protection Systems
- Passive Fire Protection Systems
By Product Type
- Fire Detection
- Sensors and Detectors
- Flame Detectors
- Smoke Detectors
- Heat Detectors
- RFID Systems
- Fire Suppression
- Fire Sprinkler Systems
- Wet-Pipe Fire Sprinkler Systems
- Dry-Pipe Fire Sprinkler Systems
- Pre-action Fire Sprinkler Systems
- Deluge Fire Sprinkler Systems
- Other Fire Sprinkler Systems
- Fire Extinguishers
- Water Extinguisher
- Foam Extinguisher
- Dry Chemical Powder Extinguisher
- Carbon Dioxide Extinguisher
- Others
- Fire Sprinkler Systems
- Fire Analysis
- Fire Mapping and Analysis Software
- Fire Modeling and Simulation Software
- Fire Response
- Emergency Lighting Systems
- Voice Evacuation and Public Alert Systems
- Secure Communication Systems
- Fire Alarm Devices
By Service
- Engineering Services
- Installation & Design
- Maintenance Services
- Managed Services
- Other Services
By Region
Global oil and gas fire protection system market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
Factors such as advancement of fire protection technology, rising fire protection expenditure and technological innovations in networking and equipment are believed to be the dynamic factor behind the rapid growth of oil and gas fire protection system market by the end of 2024. Further, rising adoption of technologically advanced fire protection system to prevent accidents is envisioned to bolster the growth of oil and gas fire protection system market across the globe.
Moreover, growing exploration and production (E&P) activities coupled with the need to prevent fire hazards and rising stringent government rules and regulation for the adoption of fire protection systems by oil and gas industry are projected to flourish the growth of oil and gas fire protection system market. Furthermore, strict fire safety norms have pushed offshore oil and gas operators to increase their investment to improve fire safety arrangements which in turn flourish the growth of oil and gas fire protection system market.
However, high cost of installation is anticipated to hinder the growth of oil and gas fire protection system market.
Top Featured Companies Dominating the Market
- Honeywell International Inc.
- Company Overview
- Key Product Offerings
- Business Strategy
- SWOT Analysis
- Financials
- Siemens AG
- Tyco International PLC
- Johnson Controls
- United Technologies
- Robert Bosch GmbH
- HOCHIKI Corporation
- Halma Plc
- Minimax Viking GmbH
- Gentex Corporation
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global oil and gas fire protection system market is segmented as follows:
- By Technology Market Size & Y-O-Y Growth Analysis
- By Product Type Market Size & Y-O-Y Growth Analysis
- By Service Market Size & Y-O-Y Growth Analysis
- By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
