According to 6Wresearch, the 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.
The UAE fire safety systems and equipment market has recently registered substantial growth on account of large scale construction projects in the country according to the researchers. Infrastructure development in the areas of retail, hospitality, transportation, and residential are expected to create significant demand for these systems and equipment. Furthermore, the government’s plan to attract $70 billion by 2025 for industrial activities would create additional demand for fire safety systems & equipment. Further, the upcoming World Expo 2020, increasing fire incidences and introduction of more stringent regulations would fuel the growth of the market.
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 the UAE, clean agent suppression systems are the most adopted fire suppression systems and are mostly preferred in oil & gas, petrochemical industries, power plants, museums, telecommunication facilities and commercial setups such as data centres and server rooms,” Ravi further added.
According to Anuj Sharma, Research Associate, Research and consulting at 6Wresearch, “Fire detection and alarm systems are expected to register the highest growth during the forecast period with smoke detectors accounting for the bulk of the market share, generating demand from residential, commercial and industrial sectors.”