Demand from Offshore Oil and Gas Projects Crucial for Enhanced Fire Protection Systems Market

Enhanced fire protection systems are mandatory in the oil and gas industry in both onshore and offshore premises. Oil and gas installations have to strictly maintain a code of safety as laid down by government agencies. These stringent rules and regulations are what keeps the global enhanced fire protection systems market highly active. These regulations, especially those for offshore rigs, have grown stricter after the 2010 oil spill in the Gulf of Mexico, as they carry a higher degree of risk and the mishaps are a lot more difficult to manage.

The global enhanced fire protection systems market for oil and gas is expected to reach US$4.1 bn by the end of 2020. It was recorded at US$3.2 bn in 2013 and is exhibiting a CAGR of 3.7% within a forecast period from 2014 to 2020. The major players in this market are Tyco International Ltd., Gielle SRL, Orcus Fire & Risk Inc., 3M Company, Kevta Fire Systems Inc., and Trelleborg AG.

High Safety Culture Boosts Global Enhanced Fire Protection Systems Market for Oil and Gas

A major driver for this market is the currently growing concerns over workplace safety. More and more government bodies are demanding higher safety standards that companies need to meet before they can proceed with their operations. This high adoption rate of the safety culture is boosting the global enhanced fire protection systems market for oil and gas. At the same time, the market is also being propelled by the growing usage of techniques that involve incident sharing, which is a part of a practice that helps improve the safety norms employed in a workplace. Hydrocarbon-related agencies are using these tips to their advantage and improving the safety quotient of affiliated workplaces.

FPSO and FLNG Developments are Affecting the Use of Enhanced Fire Protection Systems

FPSO and FLNG facilities are an end-use segment of the global enhanced fire protection systems market for oil and gas. This segment is expected to be the fastest-growing one till 2020, becoming a key factor that drives the growth of the enhanced fire protection systems market. The various FLNGs and FPSOs are developing at a rapid rate around the world. For instance, PETRONAS had recently unveiled their first floating LNG facility, named PFLNG SATU. The FLNG is 1,180 feet long and 197 feet wide, and will be anchored in the Kanowit gas field of Malaysia. PETRONAS expects the FLNG to produce nearly 1.20 mn tons of LNG annually.

The global enhanced fire protection systems market for oil and gas has mostly been dominated by the Rest of the World segment, owing to the high density of oil and gas deposits in these regions. Brazil and parts of MEWA are expected to be the top contributors to the rise of offshore oil and gas exploration and production in the near future. Therefore, players in the global enhanced fire protection systems market are focusing more on these regions.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/enhanced-fire-protection-market.htm

Enhanced Fire Protection Systems (Oil and Gas) Market: Water Mist Protection Systems Gaining Popularity

The global enhanced fire protection systems (oil and gas) market is projected to witness remarkable growth in the coming few years. In 2013, the global enhanced fire protection systems (oil and gas) market was valued at nearly US$3.22 bn, and by 2020, the market is projected to be worth US$4.14 bn.

Enhanced fire protection systems are a key requirement for oil and gas installations. The regulations regarding safety laid down by hydrocarbon agencies of several nations have led offshore oil and gas operators to elevate their investment in fire safety solutions. These stringent regulations are one of the key drivers of the global enhanced fire protection systems (oil and gas) market.

Another key driver of the global enhanced fire protection systems market is innovation in technology. Mist-based fire protection systems – a recent novel enhanced fire protection solution – are gaining popularity in the global enhanced fire protection systems (oil and gas) market. Let us look in detail at this innovation and its impact on the market.

Global Market Witnessing Rising Popularity of Mist-based Fire Protection Systems

A water mist fire protection system uses very fine sprays of water. This allows the mist to control, extinguish, or suppress fires. Mist-based fire protection systems are effective because they can cool both the flame and surrounding gases by evaporation. They can also displace oxygen by evaporation and reduce radiant heat. As compared to the sprinkler-based fire protection systems, mist-based fire protection systems are more effective.

Sprinkler systems are increasingly being replaced by mist-based fire protection systems because they utilize a lower amount of water to control fire. Mist-based enhanced fire protection systems help suppress fire effectively without causing excess water damage as compared to sprinkler systems.

Companies Increasingly Launching Mist-based Fire Protection Systems

Some of the key companies operating in the global enhanced fire protection systems (oil and gas) market are Trelleborg AB, 3M Company, SK FireSafety Group B.V., Orcus Fire & Risk, Inc, Tyco International Ltd., Water Mist Engineering AS, Marioff Corporation Oy, Ultra Fog AB, and Consilium AB. Let us look the top mist-based enhanced fire protection system products present in the market.
 

• Marioff’s HI-FOG is a high-pressure water mist fire protection technology used for a wide range of applications both on land and at sea.

• Ultra Fog has developed a high pressure, water mist-based sprinkler system for controlling fires. These are more effective than conventional sprinklers and are capable of extinguishing all kinds of fires.

• Water Mist Engineering’s Water Mist System is a fixed fire protection system, which discharges a fine spray of small water droplets. These droplets are discharged using a water mist system, which suppresses fire by removing heat and displacing oxygen.

Browse Industry Research Press Release: http://www.transparencymarketresearch.com/pressrelease/enhanced-fire-protection-market.htm

Many other companies are also increasingly investing in this technology due to the growing popularity and effectiveness associated with this innovative technology.