SecurityWorldMarket

30/08/2017

African fire market forecast to show 10.2% growth to 2023

New Delhi, India

6wresearch are projecting the African fire safety systems and equipment market to grow at a CAGR of 10.2% during 2017-23, with South Africa, Nigeria and Egypt leading the way in this increased demand on the African continent. Further, government initiative for economic diversification has additionally spurred the market on for fire safety systems and equipment.

This latest research shows that the African fire safety systems and equipment market is expected to witness substantial growth during 2017-23. Infrastructure development should take place along with the revival of the economy, particularly in the retail, commercial, hospitality, petrochemical and chemical industries, which should then in turn surge the demand for fire safety systems and equipment in the region.

According to Ravi Bhandari, Assistant Manager, Research and Consulting, 6Wresearch, “Fire sprinkler systems in the fire fighting systems and equipment segment holds the majority of the share in the market. These systems are installed in high rise buildings, malls and hotels.

Further, in fire suppression systems, clean agent (FM-200, Novec, Inergen) fire suppression systems dominate the market, but also the wet chemical fire suppression systems are expected to grow during the forecast period. However, the growth in this sub-sector is limited, as the latter are installed only in kitchens of hotels and restaurants, for example.

Kanika Sharma, Research Associate, Research and consulting at 6Wresearch added, “Fire detection and alarm systems are expected to register the highest growth over the next six years, with smoke detectors capturing the maximum share; whereas beam detectors are witnessing the maximum growth in major countries such as South Africa, Nigeria, Egypt and Algeria."

"The investment in non-oil sectors, particularly in the tourism sector has resulted in the development of the hospitality and retail sectors, which has further increased the demand for fire safety systems and equipment in the region", Kanika Concluded.

Some of the major companies included in the report as being strong players in the African fire safety systems and equipment market include Tyco, Honeywell, UTC, NAFFCO, Bavaria, Hochiki, Fike and Siemens.


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