Enhanced Fire Protection Market for Oil & Gas Industry - Global Industry Analysis, Growth, Trends & Forecasts 2014 – 2020

Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Enhanced Fire Protection Market for Oil & Gas Industry”. This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure. The oil & gas industry is associated with flammable and explosive materials resulting in high demand for fire protection systems. Fire is a chemical reaction that requires three basic elements to be present for the reaction to take place and continue further. The three basic elements are ignition source, fuel and oxygen. Ignition sources may include any operation, material or equipment that emits a flame or a spark. Fuel sources include combustible material trash, flammable liquids and gases. All these three elements form a triangle which is typically referred as fire triangle. Fire prevention involves isolating these elements from the fire triangle. The oil and gas industry delivers major benefits to the community, providing maximum energy needed for the industrial, commercial and residential sectors. Fire incidents associated with the onshore and offshore oil & gas activities require to be controlled very swiftly before a slight accident turns into a major tragedy.

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Some of the major drivers for the fire protection market are the safety standards implemented by various governments and the need to protect people and property from the major incidents. The main restraints for the market seem to be the negligence from the operations or owner side alongwith the additional cost involved in installing the protection equipments. New innovative techniques of fire fighting such as sensors and real time monitoring brings new opportunities for the new and existing players to invest in the market.

The fire protection...