Fort Collins, Colorado, May 09, 2024 (GLOBE NEWSWIRE) --
The rapid expansion of the oil and gas sector boosts the market demand.
The flame arrester market is undergoing significant expansion, primarily propelled by the escalating emphasis on safety and risk management across diverse industries. According to the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA), adopting effective safety measures, including flame arresters, can avert up to 70% of industrial accidents. Stringent government regulations, such as the ATEX Directive 2014/34/EU in Europe and the OSHA Process Safety Management (PSM) standard in the United States, have further incentivized companies to invest in robust flame arrester solutions to ensure compliance and safeguard their workforce.
Additionally, the rising oil and gas exploration and production activities, particularly in emerging economies, have necessitated the deployment of advanced flame arresters to protect facilities and ensure operational continuity.
The increasing awareness of the potential repercussions of industrial accidents has also contributed to the surging demand for flame arresters. Noteworthy incidents like the Deepwater Horizon oil spill in 2010 have underscored the imperative of effective risk management strategies. Consequently, organizations spanning various sectors prioritize installing flame arresters as integral components of their safety infrastructure. The chemical industry, representing approximately 7% of the global GDP, according to the International Council of Chemical Associations (ICCA), emerges as a significant adopter of flame arresters due to the inherent risks of handling flammable and explosive substances.
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Segmentation Overview:
The flame arrestor market has been segmented into type, industry, and region.
The inline flame arrestor is the leading segment
- Based on the market segmentation by type, the inline flame arrester segment held the largest market share in 2023. Inline flame arresters are widely used in various industries to prevent the propagation of flames through pipelines, ducts, and process equipment.
The oil and gas industry is the fast-growing segment in the forecast period.
- Based on the market segmentation by industry, the oil and gas industry accounted for the largest market share of flame arresters in 2023. The oil and gas sector involves the handling, processing, and storing of highly flammable substances, making it crucial to implement robust safety measures.
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Flame Arrestor Market Report Highlights:
- The flame arrestor market growth is anticipated at a CAGR of 4.6% by 2032.
- The rising focus on safety encourages the demand for flame arrestor in the population.
- The Asia-Pacific region is expected to witness the fastest growth in the flame arrester market. Rapid industrialization, coupled with increasing investments in the oil and gas sector, is driving the demand for flame arresters in this region.
- Some prominent players in the flame arrestor market report include Emerson Electric Co., Groth Corporation, Braunschweiger Flammenfilter GmbH, Ergil, Morrison Bros. Co., Westech Industrial, Elmac Technologies, Tornillos Gual SL, Protectoseal, Shand & Jurs, Fluidyne Instruments Pvt. Ltd, and BS&B Safety Systems.
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