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Published on : Feb 12, 2016

The global enhanced fire protection systems market is projected to expand significantly in the coming few years. Several factors are driving the growth of the global enhanced fire protection systems market. Let us look at them.

Stringent Regulations
Enhanced fire protection systems form a crucial part of oil and gas installations. Due to the safety regulations placed by hydrocarbon agencies of several countries, the investment in fire safety solutions by offshore oil and gas operators have seen a steady growth. These strict policies have impacted the offshore industry after the oil spills and the explosion in the Gulf of Mexico in the year 2010. This has led to elevated investment by exploration firms in the sector of offshore production in effective solutions to avoid and control and fires.

Expanding Offshore Oil and Gas Industry
The growing number of offshore activities and investments in the infrastructure are projected to drive the overall offshore oil and gas industry. This will drive the demand for enhanced fire protection systems significantly in the coming few years.

Technological Development
The global enhanced fire protection systems market is driven by the innovation in technology that could result in possible cost improvement in the future. A new technology based on mist is gaining traction in the global enhanced fire protection systems market. This technology uses less amount of water as compared to the sprinkler systems.

Other Trends
The global enhanced fire protection systems market will also benefit from the regulations that need the use of environmentally sustainable products in the safety industry. Moreover, the establishment of incident sharing methods has led to tightened safety norms and policies for equipment using advanced technology. This trend will also benefit the global enhanced fire protection systems market. Another trend that will drive the global enhanced fire protection systems market is the establishment of a safety culture within a firm.

Although the aforesaid trends will continue to drive the global enhanced fire protection systems market, it will be suppressed by the rising focus on workforce training in offshore installations. Some of the key players operating in the global enhanced fire protection systems market are Ultra Fog, Marioff Corporation, Fire Protection Engineering, and Water Mist Engineering.