Due to increased oil production, which is driving oil extraction operations in the area, North America is predicted to keep the leading position in the survival suit market throughout the forecast period. Oil output increased from 10.04 million barrels per day (b/d) in 2017 to 10.96 million barrels per day (b/d) in July 2018, according to the U.S. Energy Information Administration (EIA). Also, according to U.S. EIA, there were 1, 131 active U.S. crude oil and natural gas well service rigs in operation in December 2016, and there were 1, 187 rigs in operation in December 2017. As a result, rising oil extraction operations and output may in the near future increase demand for survival suits for personal protection.
Due to increasingly strict protection regulations by the European Union in offshore oil and gas activities, Europe is anticipated to account for a sizable portion of the survival suits market over the projected period. These rules were established in response to an increase in accidents in oil and gas drilling regions.
Read More:
https://bloggerstrive.blogspot.com/2023/03/survival-suits-market-size-share.html
