Fire sprinkler system accounted for the largest revenue share in the Middle East fire safety systems and equipment market- 6Wresearch
Middle East fire safety systems and equipment market is projected to witness modest growth during the forecast period on account of lesser number of projects in the development pipeline after the completion of major events namely the UAE Expo 2020 and Qatar FIFA World Cup 2022. However, the overall supply of construction sector projects in the region would bode well for the fire safety and equipment market during the forecast period.
According to 6Wresearch, Middle East Fire Safety Systems And Equipment Market is expected to grow at a CAGR of 2.6% during 2019-25. The decline in oil prices has adversely affected the economy of Middle East countries such as Oman, Saudi Arabia and UAE. These countries are looking beyond oil sector, thus, planning infrastructure development and promoting & implementing development initiatives for the non-oil sectors such as in Saudi Arabia expansion for the religious tourism in Makkah and Madinah have been announced in addition to the development of large, unused lands across the country as part of the Saudi economic diversification plan. Hence, Middle East fire safety systems and equipment market would register stable growth during the forecast period.
According to Apoorva Sawhney, Research Analyst, Research and Consulting, 6Wresearch, Firefighting systems & equipment including fire extinguishers, sprinkler system and suppression system acquired dominant share in the market as a result of enhanced safety measures being adopted in buildings for instance recent fire incidents in UAE has compelled the government to introduce new fire safety regulations which makes it obligatory to install and maintain firefighting systems.
Moreover, fire sprinkler systems accounts for dominant share in the fire fighting systems and equipment market on account of mandatory installation of fire sprinkler systems in parking lots, high-rise buildings and the retail stores in such UAE and Qatar.
According to Hardik Malik, Research Analyst, Research and Consulting, 6Wresearch, “Smoke detectors acquired a dominant share in the fire detection and alarm systems and are anticipated to lead the market in terms of revenue owing to application in commercial activities, residential buildings, industrial process, etc.
Further, the technical and mechanical structure of the addressable fire alarm makes them more reliable. As a result, there is heavy deployment of addressable fire alarms in all types of buildings. Thus, addressable fire alarms accounts for majority of the market share in fire alarm systems market the Middle East”, Hardik concluded.
Some of the key players in Middle East fire safety systems and equipment market include: Amerex Corporation, Saudi Factory for Fire Equipment Co, Emirates Fire Fighting Equipment Factory LLC (FireX), Minimax Viking GmbH, Unisafe Fire Protection Specialists Llc, NAFFCO FZCO, Fike Corporation, Tyco Fire Protection Products, Honeywell International Inc. Siemens Middle East Limited.
"Middle East Fire Safety Systems and Equipment Market (2019-2025)” report provides an in-depth analysis with 440 figures and 21 tables covered in more than 480 pages. The report estimates and forecast the overall Middle East fire safety systems and equipment market by revenues, types, verticals and countries that include Saudi Arabia, UAE, Qatar, Egypt, Oman, Kuwait, Turkey and Iran. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.