26 Aug ME, Turkey and Africa fire safety systems market to surge after 2020
Research in the ME, Turkey and Africa predicts that the fire safety systems and equipment sector will grow at a CAGR of 4.4% during 2020 – 2026. Saudi Arabia is seen to be the dominant player in the ME with South Africa taking control through African regions.
According to 6Wresearch, the ME, Turkey and Africa witnessed modest growth in recent years as a result of the increasing demand from the booming construction sector in a few countries such as UAE and Qatar. However, revenues are anticipated to undergo a phase of slowdown during the year 2020 on account of falling demand due to the partial or total lock downs imposed in several countries across the region in order to curb the spread of the COVID-19 pandemic.
With the development of large-scale commercial establishments, such as economic cities, medical cities, hotels, malls, supermarkets, and offices, the construction sector in several Middle Eastern and African countries is projected to generate huge demand for fire safety systems & equipment over the coming years. And the researchers suggest that the implementation of stringent safety norms and mandatory installation of fire safety systems in public places such as theatres, commercial buildings, churches, etc., would also fuel the fire safety systems & equipment market revenues over the years to come.
“In the African region, South Africa acquired the majority of the fire safety systems & equipment market revenue share in 2019 and the same trend is projected to manifest in 2026 owing to the expected revival in the construction sector and increasing demand from the industrial and hospitality domains,” Alpana added.
According to Mansi Bisht, Research Analyst, Research and Consulting, 6Wresearch, “On account of its high demand from building developers, owners and managers across a number of domains such as commercial, industrial, and oil & gas sector the firefighting equipment accounted for a dominant share in the overall fire safety systems & equipment market revenues in 2019 and is expected to maintain its dominance in the forecast period as well since these equipment serves as the first line of defence against any sort of hazards.”
“By types, the fire sprinklers segment accounted for a major chunk in the overall firefighting equipment market revenues. Elimination of the need for human intervention and rapid action are some of the major advantages offered by fire sprinkler systems over the other firefighting equipment products such as fire extinguishers and suppression systems.” Mansi concluded.