This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Flourishing Oil And Gas Industry Boosts Demand For Personal Protective Equipment, Says Frost & Sullivan

LONDON, July 4, 2013 /PRNewswire/ -- A thriving oil and gas industry holds tremendous promise for the future of the related personal protective equipment (PPE) market in Europe and the former Soviet Union (FSU). Adoption levels will be reinforced by stricter safety regulations and heightened awareness about worker safety.

New analysis from Frost & Sullivan ( http://www.chemicals.frost.com), Analysis of the Europe and FSU Oil and Gas PPE Market, finds that the market generated revenues of $1.07 billion in 2012 and is estimated to reach $1.37 billion in 2017. Based on current trends, Frost & Sullivan anticipates protective gloves, protective footwear and gas detectors segments to exhibit the highest growth rates. The research also covers above the neck protection, respiratory protection, protective clothing, and fall protection product segments.

The rising global demand for oil is a major driver for the oil and gas PPE market. Ongoing offshore projects in the North Sea and Caspian Sea are poised to trigger sizeable employment opportunities, directly driving the uptake of PPE.

Even as a thriving oil and gas industry boosts demand for PPE, a sharper focus on worker safety is set to fuel higher adoption rates.

"Growing awareness about worker safety in the FSU market will enhance quality standards for PPE," noted Frost & Sullivan's Chemicals & Materials Research Analyst Aparna Balasubramanian. "This, in turn, is set to push up prices and facilitate easier market penetration for global PPE suppliers."

The oil and gas industry ranks amongst the most safety conscious end-user industries for PPE. Unlike other industry verticals, oil and gas industry workers are exposed to several unique risks, highlighting the need for high level, specialised protective equipment.

This demand will motivate PPE manufacturers to focus on technologically innovative products. In turn, it will allow manufacturers to justify higher product prices.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs