Date : August 31, 2022
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The Middle East & Africa Fire Safety Equipment Market to cross USD 5000 Million by 2027: Bonafide Research

The Middle East & Africa Fire Safety Equipment Market to cross USD 5000 Million by 2027: Bonafide Research

According to the latest publication of Bonafide Research, titled Middle East & Africa Fire Safety Equipment Market Outlook, 2027, the market is crossing a market value of USD 5000 Million. For a better understanding of this report, the market is classified into three prominent countries, along with the sub-divisions based on application & product type. The report covers the major top companies like Gentex Corporation, HOCHIKI Corporation, Napco Security Technologies, Inc., Nittan Company, Ltd., Halma PLC, Robert Bosch GmbH, Honeywell International, Inc., and Siemens Building Technologies.  

This regional market is growing moderately in the recent past given the hike in the rapid growth of the construction industry, and the major governments spending heavily on infrastructure development. Apart from this, the high temperature and the high usage of electronic appliances have made the region easily prone to fire accidents. As the construction industry has been attracting public as well as private investments, the investors became more conscious about retaining the quality of the structure and thus avoiding the loss of capital. This fuelled the demand for fire safety equipment in the region.  

Much recently, Africa took effective steps towards the application of fire safety equipment systems. The fire in the Bank of Lisbon building acted as a wake-up in the country, which brought in reconsideration in the fire safety compliances of the high-rise building structures. The fire safety systems are now incorporated with the design and the construction of the building, giving extra emphasis on the sprinkler systems and easily accessible fire extinguishers placement.        

Middle Eastern countries are witnessing the setup of large commercial establishments which have directly impacted the demand for fire safety equipment positively. Even the government has laid down stringent rules and regulations for the fire safety protocols in such commercial establishments. Apart from this, the growing economies of Egypt, Nigeria & others are seeing a growth in the petrochemical industries, for which the installation of fire safety equipment is quite mandatory given the unbearable loss in case of a fire breakout.       
 
Several fire accidents were reported in homes and residential buildings around the United Arab Emirates between 2018 and 2019 despite efforts to reduce them. 68 individuals died as a consequence of these incidents, and there were significant material losses as well. In 2019, 66 percent of all building and facility fires occurred in residential areas.   

The market for wireless fire detection will expand as more homes and businesses use wireless linked safety systems, and as technologies like artificial intelligence (AI) and the internet of things (IoT) progress. Additionally, the increasing effectiveness of IoT-enabled wireless fire detection systems in reducing fire-related accidents and injuries, as well as the increasing focus on design, aesthetics, and simplicity of use built into these systems, will accelerate market expansion. The factors boosting the market growth rate include the rising demand for residential fire safety and rising awareness. Due to the government of Saudi Arabia's diversification strategy, which is anticipated to increase demand for fire safety systems & equipment in the country's non-oil sector, the country has recently attracted a significant share of market revenues in the Middle Eastern region for fire safety systems & equipment. It is anticipated that this trend will continue during the forecast period as well.

Along with the government, producers and end-users are putting a strong emphasis on safety precautions against the outbreak of fire. Since 2015, the installation of fire safety equipment has increased across a variety of industry sectors, making it the market leader with more than half of the market share. The building of huge commercial facilities, smart cities, medical infrastructure, hotels, etc. are among the region's key construction projects. The business sector is a significant user of fire safety gear, particularly of the detection and safety gear.

The market is likely to expand during the next years as building initiatives, such as the creation of massive commercial establishments including economic cities, medical cities, hotels, and offices, are anticipated to take place in the Middle Eastern and African nations. The rise described above would also be fuelled by recommendations issued by various governments mandating the installation of fire safety equipment in commercial buildings as a result of an increase in fire incidences and public knowledge of fire safety precautions.

There is no denying that the Middle Eastern and African nations are seeing extremely high levels of building. In the next five to ten years, it is anticipated that the country's markets for fire safety systems and equipment would benefit greatly from the increasing attention on safety and security related to fire incidents as a result of increased high-rise building. The use of fire safety systems and equipment is increasing as a result of increased commercialization and industrialization, which is predicted to create lucrative opportunities for market potential investors to see a promising future business growth through the integration of necessary and assumed investment.

Various development projects like the Qatar National Vision 2030, Saudi Vision 2030, etc. are to be aiding the market growth in the forecasted period. Through the coming period, the region is likely to be led by Saudi Arabia, which in the year 2018 recorded 625 causalities due to fire. Even though the government plays an important role in the region, the contribution of manufacturers and end-users is inevitable. The large-scale construction in the region is to be driving the market, while the portable device is to be highly demanded the residential use.  

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The Middle East & Africa Fire Safety Equipment Market to cross USD 5000 Million by 2027: Bonafide Research

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