Global PPE Market for Oil and Gas Industry to grow at a CAGR of 7.72% during the period 2017-2021

Summary

Orbis Research Inclusive Report: Global PPE Market for Oil and Gas Industry -Segmented By Type, Application and by Geography-Trends and Forecasts (2017-2021) Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Description

Latest Research Insight– Global PPE Market for Oil and Gas Industry 2017-2021
The Following Companies as the Key Players in the Global PPE Market for Oil and Gas Market: 3M, Honeywell, and MSA

Other Prominent Vendors in the market are: Ansell, CarbonX, Drägerwerk, DuPont, Ergodyne, Magid Gloves, MCR Safety, Moldex, Portwest, Scott Safety, and VersarPPS

Commenting on the report: “Continuous improvements in the PPE market are being made in terms of safety, style, comfort, and technology. Technology, in particular, is expected to be the driving force behind the growth of the market. Manufacturers in the market are focusing on introducing integrated PPE with smart features, such as Bluetooth, sensors, and wireless technologies for workers in extreme work conditions. Vendors are also expected to incorporate app-based services for worker protection, equipment replacements, and emergencies that require a quicker response. Such smart solutions also provide timely backups of worker data and enable monitoring the tasks carried out by the workers.”

According to the report, the oil and gas industry is one of the key end-users for PPE because of its highly-associated hazards that can cause occupational injuries and fatalities. This industry involves various tasks, such as drilling, fracking, traveling derrick, heavy lifts, and exposure to chemicals, which can cause various hazards that can be lethal to employees. Therefore, employers ensure a provision of adequate PPE to workers to minimize the associated risks. In addition, workers are increasingly becoming aware of the risks associated with their jobs and the benefits of PPE. This factor has a positive impact on the market in terms of increased consumption of PPE.

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Further, the report states that increasing automation and mechanization in the oil and gas industry have a negative impact on the PPE market in terms of lesser manual exposure to work hazards. Equipment used in the oil and gas industry is becoming sophisticated and reliable, which can decrease the production time and thereby increase the efficiency. For instance, automated drilling technology can reduce the drilling time, as well as improve the drilling method, especially for offshore applications. This automated drilling can optimize operations, reduce associated costs, and minimize the workforce exposed to harsh environments. Another area of automation is monitoring of offshore and onshore pipelines. With the increasing threat of oil theft and terrorist attacks, the frequency of monitoring has been increased. This monitoring is done using autonomous underwater vehicles (AUV), which are robotic vehicles that can be used to perform underwater survey missions.

Various companies are involved in providing automated solutions across the oil and gas production sector, such as drilling, inspection, monitoring, intervention, and repair. Thus, with increasing mechanization in the oil and gas industry, there will be a negative impact on the PPE for oil and gas industry in terms of lower consumption of products under PPE.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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