In-Line Flame Arrestors Type segment is expected to dominate the Global Flame Arrestors Market is the forecast period
Growing
Stringent Safety Regulations Driving the Global Flame Arrestors Market Growth,
during the forecast period.
According
to TechSci Research report, “Global Flame Arrestors Market - By Region,
Competition, Forecast & Opportunities, 2029”. The Global Flame Arrestors Market is expected to grow
with a CAGR of 4.6 % during the forecast period. Due to the increasing annual
production and refining capacity, the oil and gas segment is expected to be the
largest segment in the flame arrestors market during the forecast period.
Latest technological advancements in replacing the old flame arrestors (due to
their outdated technology) are expected to create several opportunities for the
flame arrestors market in the coming years.
Also
known as igniters or flame arresters, flame arresters allow gas to pass through
them but stop the flame to prevent a massive fire or explosion. Fire
extinguishers are used in various situations, for example when transporting oil
and gas through pipelines. The oil and
gas industry primarily deals with materials that are more flammable than any
other industry. The oil and gas industry has had a number of accidents in the
past. To prevent and control such incidents, governments around the world have
decided to install flame arrestors in places where sparking is more likely
(especially in the oil and gas industry). Such guidelines and safety measures
by various governments should encourage the use of fire extinguishers in the
oil and gas industry. In 2020, 3,853.7
billion cubic meters of gas were produced in the world, or approximately 9.7%
more than in 2015 (3,511.7 billion cubic meters). Also in 2020, world oil
refining capacity was 101,947 thousand barrels per day (bpd), which is an
increase of about 4.1% compared to 2015 (97,898 barrels per day). This growth
in the manufacturing and refining sector of the oil and gas industry, where
flame retardants are mainly used, is expected to drive the market during the
forecast period.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on " Germany
Plastic Pipes Market.”
As
of September 2021, Bharat Petroleum Corporation Ltd planned to invest USD 13.66
billion over five years to improve petrochemical capacity, refining efficiency,
and oil and gas exploration and production operations. Such large projects
increase the infrastructure of the industry, which is expected to increase the
need for accessories such as fire extinguishers. Thus, such factors are likely
to boost the oil and gas segment in the flame extinguisher market during th Due
to the continuous growth of energy demand, the Asia-Pacific region has several
projects in the oil and gas, chemical, power generation and mining sectors,
making the region the largest flame
extinguisher market in the world.
Most of the countries in the region, such as
China, India and Indonesia, are developing countries and their demand for
energy and medicine is increasing. Due
to this growing demand for energy, the Asia-Pacific region has attracted
several investments in various industries using flame retardants. As of 2020, the Asia-Pacific energy
consumption was 253.25 cubic meters,
accounting for about 45% of the total energy consumption for the same year.
The energy consumption share indicates
the growing industrial development of the region to meet the energy demand,
which is likely to drive the flame extinguisher market during the forecast
period e forecast period.
From
2021, Santos Ltd has chartered a contract in Adelaide to build, connect and
operate a floating production, storage and offloading (FPSO) vessel to develop
the Barossa gas-condensate field in the Timor Sea to BW Offshore. The agreement
was followed by a Final Investment Decision (FID) for the $3.6 billion Barossa
project. The purpose of this project is
to add gas supplies to the Darwin LNG facility, which is supplied with
gas from the Bayu-Undan field. The field is expected to produce gas and
condensate that will likely use flame arrestors
to prevent sparks. In January 2022, Korean company S-OIL signed four MoUs with
Saudi Aramco to cooperate on alternative energy sources, including Thermal
Crude to Chemicals (TC2C) technology, R & D decarbonized future energy
production and venture capital investment. capital
Crude2Chemicals' new technologies are
expected to produce ethylene and other necessary chemicals from oil and
refinery exhaust.
Key
market players in the Global Flame Arrestors Market include:
- Emerson
Electric Co.
- Pentair
plc
- Braunschweiger
Flammenfilter GmbH
- Elmac
Technologies
- Protectoseal
- Tornado
Combustion Technologies
- Westech
Industrial Ltd.
- BS&B
Safety Systems
- Ergil
Group
- Groth
Corporation.
Download
Free Sample Report
Customers can also request for 10% free customization on
this report.
“Industries
often need to demonstrate robust risk management strategies to secure insurance
coverage. Installing flame arrestors is a proactive step in risk mitigation,
making industries more attractive to insurers. Existing industrial facilities
require periodic upgrades and maintenance of safety equipment, including flame
arrestors. This generates a consistent demand for replacement and retrofitting
of older systems. The chemical and petrochemical sectors are major users of
flame arrestors due to the nature of their operations. The continued growth of
these industries sustains the demand for flame arrestors.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Flame
Arrestors Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By End User (Oil and Gas, Chemicals,
Pharmaceutical, Mining, Power Generation, and Other), By Type (Inline Arrestor
and End-of-line Arrestor) By Region, Competition”, has evaluated the future
growth potential of Global Flame Arrestors Market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Global Flame Arrestors Market.
Contact
Techsci Research
LLC
420 Lexington
Avenue, Suite 300,
New York, United
States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com