Middle East’s $1.9bn fire safety systems market expected to grow
New government regulations and infrastructure investment key drivers as Intersec 2019 looms with latest solutions on show
The Middle East’s $1.9 billion fire safety systems and equipment market will see solid growth over the next six years, with new government regulations around life safety and fire protection along with large scale infrastructure investment among the key market drivers.
A November 2018 report by analysts 6Wresearch estimates the Middle East market for firefighting systems, fire detection & alarm systems, and emergency exit and lighting, will be worth $3bn by 2024, growing at a compound annual growth rate of nearly 8%.
The report stated the regional market witnessed a slight decline during 2014-2016, however from 2017 demand has picked up, aided by recovering oil prices and government economic diversification initiatives aimed at reviving the construction sector.
Additionally revised fire and life safety codes, such as those rolled out by the UAE Civil Defence in 2016, has helped growth in passive fire-rated products in new buildings and infrastructure, while adding further impetus to the retrofitting segment, where newer systems in line with current regulations are replacing older systems.
6Wresearch’s report was published ahead of the Intersec exhibition, the trade fair for security, safety, and fire protection, taking place from 20-22 January 2019 at the Dubai International Convention and Exhibition Centre.
Fire and Rescue is the second largest of seven show sections at the annual three-day event, where more than 1,300 exhibitors from 59 countries are set to take part in the show’s 21st edition early next year.
More than 350 of those will be in the Fire & Rescue section, including the biggest names in the global fire and life safety business such as UAE-based powerhouses NAFFCO and Concorde Corodex Group, Honeywell from the USA, Japanese-headquartered Hochiki, Drager from Germany, and Turkish fire truck manufacturer, Volkan.