KSA's fire safety systems market set to grow six percent annually
Posted On: 17-02-2020
THE latest market updates of Safety & Security Industry in KSA were revealed to more than 100 fire, safety and security industry professionals at a Saudi road show in Jeddah recently. The three days road show aimed to promote the upcoming Intersec exhibitions in Dubai and Jeddah.
Intersec, a leading exhibition for security, safety, and fire protection, runs from Jan. 22-24 at the Dubai International Convention and Exhibition Centre, while Intersec Saudi Arabia will take place from May 2-4 at the Jeddah Center for Forums & Events.
In its 19th edition, Intersec 2017 will feature more than 1,300 exhibitors from 54 countries spanning over 55,000 sqm of exhibition space, registering a 10 percent growth over the previous year.
"Ongoing investments in the commercial, retail, industrial, hospitality, and the healthcare sectors, combined with upcoming high profile international events, means growth is the buzz word across all sectors in the GCC, and this also applies to the fire safety market," said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organizer of Intersec, and Intersec Saudi Arabia.
"Improvements in the enforcement of fire codes in the construction sector, and the constant need for fire protection and life safety means the GCC fire safety market is estimated to grow annually by 14-16 percent to reach $3.15 billion by 2020.
"This robust demand for the latest equipment, fire protection and fire fighting systems is reflected in the strong growth in the Fire & Rescue section at Intersec, while Intersec Saudi Arabia too will host the biggest names in the fire protection market," added Pauwels.
JoÃƒÂ£o Paulo Ajami, the commercial director for Global Fire Equipment, said: "We had several interesting projects in Saudi Arabia in the last 12 months, while exhibiting at Intersec has helped us launch several good distribution channels in countries like Kenya, Saudi Arabia, the UAE, Tanzania, and Pakistan.
"Our goal is to establish long term partnerships with agents working in the security field with the purpose of expanding our global presence which covers more than 70 countries. Our systems are applied in residential commercial and industrial sectors and its subsectors, since fire detection is applicable to almost all construction sectors."
Saudi Arabia and the UAE are leading the upward trend for the fire safety systems market in the Gulf Cooperation Council (GCC), as stringent government regulations fuel demand for the replacement of existing and outdated equipment.
According to consultancy firm 6Wresearch, the GCC fire safety systems market was worth $1.36 billion in 2015, with Saudi Arabia ($598.4 million), and the UAE ($394.4 million) comprising 73 percent of the regional market. The other Gulf States of Bahrain, Qatar, Oman, and Kuwait accounted for $367.2 million (27 per cent).
6Wresearch said Saudi fire safety systems and equipment market is projected to grow six percent annually from 2016 Ã¢Â€Â“ 2020. By 2022, the market is estimated to be worth $632.2 million, attributed to a recovery in the construction and real estate verticals.
Other factors driving regional demand for new fire safety systems include government and transportation sectors, residential, retail, and hospitality verticals, while Saudi Vision 2030 and the upcoming Dubai Expo 2020 in the UAE is also likely to boost further growth.
Anthony Cole, technical director at Aman Fire Protection, highlighted the growing trend for better awareness of regional fire safety codes following recent fire incidents across the GCC.
"There an increase in awareness for the need for review and approval of materials used in construction by fire protection consultants especially in high rise projects following the several high profile fires," said Cole.
"Oil & Gas, military, power and energy creation, large commercial developments such as shopping malls and integrated tourism leisure projects are the most important industries our business is targeting now."
Intersec other core sections include Commercial Security, Homeland Security & Policing, Safety & Health, Information Security, Smart Home and Physical & Perimeter Security.