Global Fire Protection Systems in Oil and Gas Market Analysis and Forecasts 2016-2020 by Radiant Insights

Global Fire Protection Systems in Oil and Gas Market Share

and Forecasts 2016-2020 by Radiant Insights

Market outlook of the FPS market in the oil and gas industry

Technavios 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.

View Summary of This Report @ http://www.radiantinsights.com/research/global-fire-protection-systems-inoil-and-gas-markets-2016-2020

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...