SecurityWorldMarket

11/11/2020

UAE fire safety market to see significant growth after 2020

New Delhi, India

According to 6wresearch, the size of the UAE Fire Safety Systems & Equipment Market is projected to grow at a CAGR of 2.0% during 2020-26. Government efforts to revive the economy with stimulus packages to support the small and medium-sized enterprises and other government initiatives such as Dubai’s industrial strategy 2030, Abu Dhabi Vision 2030 along with relaxation in Covid-19 curtailment measures, are cited as the drivers and the analysts suggest that revenues in this area are anticipated to witness significant growth to 2026.

The research says that the outbreak of the Covid-19 pandemic led to a halt in construction projects and the suspension of economic activities due to social distancing measures being adopted to curtail the spread of the virus, will most likely result in a slowdown in market revenues during the year 2020. Recovery is expected in market revenues post-2020, with a gradual opening of economic activities and the restart of construction projects.

According to Kanchan Negi, Senior Research Analyst, 6wresearch, “Fire fighting equipment dominated the overall market for fire safety systems & equipment in UAE in 2019 and the segment is anticipated to lead the market during the forecast period as well since these systems are the first line of defence against a fire outbreak and other such hazards. Increased safety measures along with strict regulations regarding the fire safety systems in the country are the primary factors contributing to the rising demand for fire fighting systems & equipment. The fire detection & alarm systems is the second major contributor to fire safety systems & equipment market revenues in UAE as detectors and alarm systems are an essential component that detects fire at an early stage and raise an alert that helps in the safe evacuation of occupants in the premises.

The upcoming projects in the oil & gas sector such as Upper Zakum- Production Capacity Enhancement, Ruwais Refinery Complex - Third Grassroot Refinery, Fujairah Oil Storage Project and several other projects in the hospitality, residential and commercial sectors, would drive the market of fire safety systems & equipment over the coming years.” Kanchan further added.

According to Alpana Tyagi, Research Analyst, 6wresearch, “The commercial offices and buildings sector accounted for major share in the market revenues of all major segments in the UAE fire safety systems & equipment market in recent years and would continue to dominate the market over the coming years as well. A rise in the construction of commercial buildings such as office buildings, hypermarkets, and co-working spaces, where it is mandatory to install fire safety systems & equipment, has resulted in increased demand for fire safety systems & equipment across the country. The hospitality sector would register the highest growth rate in the coming years on account of the growing installation of fire detection and alarm systems due to upcoming construction activities in the sector for the Dubai Expo and rising tourism.

A growing industrial and the manufacturing sector in Dubai, Government policies and initiatives such as Dubai Plan 2021 and Dubai Industrial Strategy 2030 are likely to boost the demand for fire safety systems & equipment across the country over the coming years.” Alpana concluded.


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