Europe and Americas Fire Protection Market Expected To Witness Rapid Growth Due To Increasing Technological Advancement In Oil & Gas Industry Till 2025

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Europe and Americas Fire Protection Market Expected To Witness Rapid Growth Due To Increasing Technological Advancement In Oil & Gas Industry Till 2025

January 21
12:40 2020
Europe and Americas Fire Protection Market Expected To Witness Rapid Growth Due To Increasing Technological Advancement In Oil & Gas Industry Till 2025

Grand View Research, Inc. – Market Research And Consulting.
Rapid technological advancements in the oil and gas industry, coupled with favorable government regulations regarding fire protection is anticipated to drive the Europe and Americas fire protection market growth.

The Europe and Americas fire protection market size is expected to reach USD 41.9 billion by 2025, registering a CAGR of 5.9%, according to a new report by Grand View Research, Inc. Rapid technological advancements in the oil and gas industry, coupled with favorable government regulations regarding fire protection is anticipated to drive the growth.

Fire protection forms an integral part of structural steel safety in various industries, including oil and gas and chemical, wherein the risk associated with fire accidents is high. The integration of surveillance and detection systems and the increasing use of wireless and IP technologies that are replacing the traditional telephone lines are expected to propel growth.

Growing demand for low smoke and lightweight materials is expected to increase R&D activities in the passive fire protection market, thereby propelling the overall market growth. The rising spending capacity of consumers, coupled with the growing demand for safe buildings to reduce the loss of life and asset and increase human safety, is expected to complement growth.

Favorable government regulations in North America, such as mandates regarding fire safety plans as well as adherence to the safety codes according to the building use or occupancy, are likely to impact the adoption of protection systems positively. Furthermore, increasing expenditure on the protection of assets from hazards and considerable infrastructural growth across various economies is fueling the demand.

Get Details For “Sample Report, TOC, Segmentation & methodology of Europe and Americas Fire Protection Market” Click Link Below:

https://www.grandviewresearch.com/industry-analysis/europe-americas-fire-protection-market

U.S. fire protection market size, by type, 2014 - 2025 (USD Billion)

Further key findings from the report suggest:

  • Fire extinguishers accounted for around 14.3% of the active protection market share in 2018, owing to the rising construction and infrastructure activities coupled with mandates regarding the product use in every residential and commercial project in these regions

  • The sprinklers segment is estimated to reach USD 3.6 billion by 2025, on account of the presence of stringent government norms regarding the installation of the product in the commercial buildings

  • The demand for passive fire products is estimated to witness a CAGR of 5.4% in terms of revenue, from 2019 to 2025, on account of the rising concerns regarding the protection of human life and assets in the regions

  • The presence of obligatory safety codes issued by several governments for the development and renovation of new infrastructure in North America is expected to drive the product demand at a CAGR of 6.5% from 2019 to 2025

  • Major players in the Europe and Americas fire protection market are adopting strategies such as product portfolio expansions, product development, and distribution network expansion to obtain a competitive edge

Would you Like to Take a Look On “Sample Report” of Europe and Americas Fire Protection Market Click the Link Below:

https://www.grandviewresearch.com/industry-analysis/europe-americas-fire-protection-market/request/rs1

Europe and Americas active fire protection market share, by equipment, 2018 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/6969/ibb

Grand View Research has segmented the Europe and Americas fire protection market on the basis of type and region:

Europe and Americas Fire Protection Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Active Fire Protection

    • Fire-extinguishers

      • Gas

      • Water

      • Dry chemical powder

      • Others

    • Fire detectors

    • Hydrants, hoses, and nozzle

    • Sprinklers

    • Others

  • Passive Fire Protection

    • By Product

      • Cementitious Materials

      • Intumescent Coating

      • Fireproofing Cladding

      • Others

    • By Application

      • Oil & Gas

      • Construction

      • Industrial

      • Warehousing

      • Others

  • Protective Clothing

Europe and Americas Fire Protection Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Belgium

    • France

    • Germany

    • Italy

    • Netherlands

    • Portugal

    • Russia

    • Spain

    • Switzerland

    • U.K.

  • Central America

    • Belize

    • Costa Rica

    • El Salvador

    • Guatemala

    • Honduras

    • Panama

    • Puerto Rico

  • South America

    • Argentina

    • Brazil

    • Chile

    • Colombia

    • Peru

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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