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Rising Rate of Investments towards Oil and Gas Projects Drives the North America And Europe Flame Arrestor Market Forward

HYDERABAD, TELANGANA, INDIA, December 5, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that North America And Europe Flame Arrestor Market is analysed to grow at a CAGR of 3.8% during the forecast period 2021-2026 to reach $314.5 million by 2026. Rising rate of investments towards oil & gas projects along with stringent government regulations or policies for industrial safety have been acting as the major factors attributing to the market growth. Moreover, increase in investments related to upgradation or replacement of equipment for fire safety overtime along with growing number of fire explosion incidents across various end-use industries is also analysed to drive the growth of flame arrestors during the forecast period 2021-2026. Since major industries like oil & gas refineries, power generation plants, chemicals with others have been considered as some of the highly growing industries within U.S as well as several European countries overtime, which makes it one of the crucial factors in the growth of such flame arrestors. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/19778/north-america-and-europe-flame-arrestor-market.html

Key takeaways:

1. Stringent governmental regulatory policies or standards related to industrial safety and high investments towards oil & gas projects is analyzed to significantly drive the North America And Europe Flame Arrestor Market during the forecast period 2021-2026.

2. Storage Tanks had accounted for the largest market share in 2020, attributed to the factors including rise in tank installation projects as well as growing tank explosion incidents.

3. North America had dominated the flame arrestor market owing to factors including rise of infrastructural projects related to chemical plants, oil or gas refineries and so on.

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Segmental Analysis:

1. In Line deflagration type had dominated the North America And Europe Flame Arrestor Market with $123.45 million in 2020 and is analysed to grow with the highest CAGR of 4.2% during the forecast period 2021-2026.

2. Storage Tanks had dominated the flame arrestor market with a value of $85.4 million in 2020, and is further anticipated to grow at a rate of 2.1% during the forecast period 2021-2026.

3. North America had accounted for the highest market value of $164.4 Million in 2020, and is analysed to grow at the highest CAGR of 3.2% in the Flame Arrestor market during the forecast period 2021-2026.

4. In December 2020, an U.S oil & gas major giant, named ExxonMobil had revealed about its plans of investing over $240 million within its Baton Rouge Refinery.

Competitive Landscape:

The top 5 players in the North America And Europe Flame Arrestor industry are -

1. PROTEGO^® | Braunschweiger Flammenfilter GmbH

2. Elmac Technologies

3. Emerson

4. D-KTC Fluid Control

5. Morrison Bros

Click on the following link to buy the North America And Europe Flame Arrestor Market Report:
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A. Flame Detectors Market
https://www.industryarc.com/Report/15616/flame-detector-market.html

B. Flame Scanners (Detectors) Market
https://www.industryarc.com/Report/18148/flame-scanners-detector-market.html

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