Maritime & Offshore Safety Devices Market: Introduction
Maritime & offshore safety devices enable inspection of safety devices on production equipment and pipelines and ensure the safety of the all offshore employees and facilities. Generally, these devices are used in the oil & natural gas industry where oil and gas are extracted on a large scale from sea or gulf. These devices facilitate decision making by applying risk assessment technique. Offshore and maritime companies, with the help of risk assessment, identify, monitor and control the potential undesirable events which can reduce the safety, environmental, quality, or financial problems.
Rise in number of disasters as well as accidents on marine and offshore platforms has led to the evolution of maritime & offshore safety devices. It has helped marine and offshore companies to achieve greater efficiency with the installation of maritime offshore devices. Furthermore, it has enabled the companies to sort the biggest problem related to workforce retention on the offshore and marine platforms as the job on offshore platform is relatively risky.
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Maritime & Offshore Safety Devices Market: Dynamics
Increase in International Energy Demand
It has been observed that the demand for energy resources such as oil and gas has been increased exponentially in the past 2 decades. This has led to an increase in number of installations of offshore and marine platforms to gather maximum resources. Initially, the focus on the safety of such platforms was very low. However, increase in number of natural disasters occurrence across the globe the companies which are dealing in the extraction of oil and gas has increased the safety measurements and this has led to the increased demand for the maritime and offshore safety devices.
High Cost of Integration and Installation and Reduced Focus on Environmental Disaster Safety
The cost of maritime & offshore safety devices is generally high, and with the rise in importance of deep-water and ultra-deep-water production worldwide, the technology which is being used in such a harsh condition usually costs very high for these platforms. Furthermore, increased importance of deep-water and ultra-deep-water production has reduced the focus on technological development for environmental disaster safety on offshore platforms and diverted the focus on production technology development.
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Increase in Focus on Workforce Retention on Offshore Platforms
It has been seen that the companies which are dealing in the oil and gas extraction have focused on workforce retention to manage the increased demand for oil & gas. At maritime & offshore platforms, the workforce retention rate is low which could affect the potential production. However, integration and installation of maritime & offshore safety devices has created a positive effect on production. This, in turn, is boosting the demand for maritime & offshore safety devices. Furthermore, the stringent regulations regarding safety of the workforce are likely to have a positive impact on the maritime & offshore safety devices market.
Europe Expected to Dominate the Market in Terms of Market Size
In terms of region, the global maritime & offshore safety devices market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is expected to dominate the market as the region holds major market share across the globe for marine equipment. The region also holds the major market share in terms of marine logistics which directly increases the demand for offshore safety devices in Europe.
Maritime & Offshore Safety Devices Market: Competitive Landscape
- In June 2019, a free text message alert system has been unveiled by the Bureau of Safety and Environmental Enforcement. This system would enhance the safety of the workers through alerts and bulletins who are working at offshore platform of oil and gas extraction.
- In May 2019, Apollo Safety, Inc. launched enhanced Man Down/Lone Worker detection device. This would help the offshore companies to detect the lone or remote worker on the work site.
Marine Rescue Technologies Ltd
Established in 1975, Marine Rescue Technologies Ltd is headquartered in Beverley, East Yorkshire, U.K. The company focuses on manufacturing and supply of safety systems for the marine facilities in offshore oil and gas, defense, commercial marine, and renewable industries as well as for the workforce which are onboard. The company holds a strong product and service portfolio in terms of safety devices related to the process of offshore resource extraction.
ALTUM Sp. z o.o.
Founded in 2015, ALTUM Sp. z o.o. is based in Gda?sk, Poland. The company is focused toward providing PLC programming and design-engineering services as well as fabrication, assembly inspections, supervisions, follow up, and testing performance in the area of hydraulic, mechanical, and electrical/PLC systems for the maritime and offshore industry.
Established in 2015, ALPA AS is headquartered in Oscar Hanssens veg, Molde, Norway. The company is a part of Axess Group which has strong expertise in service and maintenance of numerous offshore and maritime crane brands. It caters in all the regions across the globe. The company holds ISO 9001:2008, ISO 14001:200 certifications. Furthermore, the company is FPAL (First Point Assessment) verified.
Maritime & Offshore Safety Devices Market: Segmentation
The global maritime & offshore safety devices market can be segmented based on:
- System Type
Maritime & Offshore Safety Devices Market Segmentation, by System Type
In terms of system type, the maritime & offshore safety devices market can be divided into:
- Fire and Gas Detection Systems
- Public Address and General Alarm Systems (PAGA)
- CCTV (Closed Circuit Television)
- Satellite Communications Systems
- Internal and Emergency Communications Systems
- Radio Communications Systems
The report on the maritime & offshore safety devices market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The maritime & offshore safety devices market report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on the maritime & offshore safety devices market segments and geographies.
Regional analysis of the maritime & offshore safety devices market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Oil & Gas
- Safety Device
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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