UAE fire safety systems and equipment market registered substantial growth on account of large scale construction projects in the country. Infrastructure development in the areas of retail, hospitality, transportation, and residential are expected to create significant demand for these systems and equipment. Furthermore, government’s plan to attract $70 billion by 2025 for industrial activities would create additional demand for fire safety systems & equipment. Further, upcoming World Expo 2020, increasing fire incidences and introduction of more stringent regulations would fuel the growth of the market.
According to 6Wresearch, UAE Fire Safety Systems & Equipment market is projected to grow at a CAGR of 10.1% during 2017-23. The market is projected to witness significant growth with the rising tourism sector in the country. According to the ‘UAE Vision 2021’, launched by the government in 2010, the government would increase its investment in healthcare, infrastructure and education sectors, further boosting the market for fire safety systems & equipment in the country. Other sectors likely to bound for major developments would be retail, commercial, hospitality, petrochemical & chemical industries.
According to Ravi Bhandari, Assistant Manager, Research and Consulting, 6Wresearch, "Fire Fighting systems & equipment dictates the overall UAE market in revenue terms, in which fire sprinkler systems holds the key slice of the pie.
In UAE, clean agent suppression system is the most adopted fire suppression system and are mostly preferred in oil & gas, petrochemical industries, power plants, museums, telecommunication facilities and commercial setups such as data centers and server rooms," Ravi further added.
According to Anuj Sharma, Research Associate, Research and consulting, 6Wresearch, "Fire detection and alarm systems is expected to register highest growth during the forecast period with smoke detectors accounting for bulk of the market share, generating demand from residential, commercial and industrial sectors.
Investments in the hospitality and commercial sectors accompanied with major international events like World Expo 2020 to project UAE as global economic and tourism hub, would further drive fire safety systems and equipment market in future, Anuj Concluded.
Some of the major Companies in UAE Fire Safety Systems & Equipment Market includes Tyco, NAFFCO, SFFECO, FireX and Honeywell.
"UAE Fire Safety Systems & Equipment Market (2017–2023)" report provides in-depth analysis with 67 figures and 12 tables covered in more than 145 pages. The report estimates and forecast the overall UAE Fire Safety Systems and Equipment Market by Types, Verticals and Regions. The report also offers insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.