Oil, gas industry dominates the market for hazardous area equipment
Increased legislation has spurred increased sales for hazardous equipment in the oil and gas industry in the EMEA region.
Three-quarters of revenue in the Europe-Middle East-Africa (EMEA) region from sales of products suitable for use in hazardous areas were from the oil and gas industry in 2012, according to a recent report entitled “Hazardous Area Equipment – EMEA – 2013” from IMS Research, now part of IHS Inc..
“Despite the well-known fact that oil and gas is the most important industry for hazardous area equipment, the very high market share it held last year came as a surprise,” said John Morse, senior automation market analyst with IHS. “The 2009 edition of the report also concluded that oil & gas was the leading market for hazardous area equipment accounting for around half of revenues at that time. Therefor the new report suggests that there has been a significant increase in sales to this industry.”
In particular, the results cite the growing volume of legislation being applied to oil and gas installations as one of the main factors.
“There is a steady flow of new legislation being introduced,” Morse said. More notably the legislation is being ever more strictly applied, particularly in the lower risk environments where the risk of explosions is minimal e.g. Zone-2.
“Disasters in oil and gas installations get reported by the global media in seconds and the consequences can be catastrophic for the companies involved,” Morse said. “The result is that site operators are minimizing exposure wherever possible. In situations where there is any risk of explosion, no matter how small, ensuring certificates proving compliance with the relevant hazardous area legislation are logged and readily accessible, just in case.”
Case Study Database
Get more exposure for your case study by uploading it to the Consulting-Specifying Engineer case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.