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GCC Fire Safety Equipment Market Research Report: Forecast (2023-2028)

GCC Fire Safety Equipment Market Research Report: Forecast (2023-2028)

By Equipment Type (Fire Extinguishers, Fire Suppression Systems, Fire Sprinkler Systems, Fire Detection and Alarm Systems), By End User (Residential, Commercial, Industrial, Hospitality, Retail, Oil a Read more

  • Buildings, Construction, Metals & Mining
  • Feb 2023
  • 156
  • BM44043

Market Definition

Fire safety systems and equipment are installed in buildings for the prevention of major losses due to fire and to ensure the safety of residents. Fire safety equipment includes, but are not limited to, alarms, extinguishers, smoke detectors, door closures, alarmed doors, and sprinklers. GCC region is witnessing a wide surge in demand for fire detection and suppression equipment owing to its economic growth and increasing construction activities which would further boost the demand for fire safety equipment in the coming years.

Market Insights

The GCC Fire Safety Equipment Market is projected to grow at a CAGR of around 3.26% during the forecast period, i.e., 2023-28, owing to the presence of extensive oil & gas and chemical industries in the region. The application of these equipment’s in the end user industries is also surging to eliminate the risks associated with the toxic chemicals utilized in the manufacturing & petrochemical industries. Further, increased use of fire safety equipment is also being fueled by stringent government workplace safety enforcement and regulations, as well as the rise in automation brought on by smart homes and construction projects. Additionally, the strict enforcement of building safety codes and regulations has been necessitated by an increase in safety concerns in the region.

Moreover, the application of fire safety equipment has also grown in residential & commercial buildings to mitigate the risk of fire & other kinds of emergencies. The demand for fire safety equipment had been emanating from a variety of industries as a result of an increase in the number of newly constructed properties in the UAE, Saudi Arabia, etc.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 3.26%
Country Covered The UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain
Key Companies Profiled Amerex Corporation, Emirates Fire Fighting Equipment Factory LLC (FireX), Fike Corporation, Honeywell International Inc., Minimax-Viking Gmbh, NAFFCO FZCO, Saudi Factory for Fire Equipment Co., Bristol Fire Engineering, Johnson Controls (Tyco), Al Aman Fire, Others
Unit Denominations USD Million/Billion

 

Furthermore, due to the presence of highly flammable and combustible materials like oil, gasoline, etc., the oil and gas, and mining sectors carry a high risk and are frequently exposed to fire accidents. Thus, vendors are increasingly investing in the development of new fire suppression systems to protect critical environments and investments across the sites. The rising requirement for proper fire detection and prevention equipment are legally required to address and prevent such accidents in the region which further led to escalate the market growth.

Along with this, the market also noted high-quality fire safety installations that are becoming more popular on the market as the risk management strategies increasingly becoming an integral part across oil and gas facilities. There are a variety of fire detection products designed specifically for use in oil refineries, gas processing plants and other high risk environments. Additionally, there are significant growth opportunities in this market due to the emergence of new technologies like wireless sensor networks and IoT integrated solutions which is expected to elevate the market growth in the forthcoming years.

GCC Fire Safety Equipment Market Research Report: Forecast (2023-2028)

Key Trend in the Market

  • Technology Integration in Fire-Fighting Equipment to Enhance Market Growth

The market is registering the integration of cutting-edge technology in fire safety equipment in recent years. Manufacturers are being prompted to incorporate cutting-edge technologies like the Internet of Things (IoT) in fire safety equipment with the objective to reduce risk to life and property posed by fires more easily and efficiently. These systems are mainly designed to detect the potential presence of fire in advance with the use of sensors by reading a building's temperature. This preventive measure is becoming the reason for their preference over conventional fire safety systems. Thus, Internet of Things (IoT) integrated fire safety equipment is increasingly being installed during the construction of smart buildings.

Additionally, the residential and hospitality sectors are witnessing the emergence of promising technologies, such as smoke detectors outfitted with cutting-edge sensor technology that can differentiate between smoke produced by fire and smoke caused by cooking. In addition, technologies like visual image detection (VID) software, programmed to recognize pixels that are indicative of fire smoke and have the ability to alert residents and the fire safety department, is gaining traction in the market. These systems would strengthen the market growth in the upcoming years owing to an increasing number of hotels due to the growing tourism sector of the region.

Market Segmentation

Based on Equipment Type:

  • Fire Extinguishers
  • Fire Suppression Systems
  • Fire Sprinkler Systems
  • Fire Detection and Alarm Systems

Based on type, fire extinguishers held significant market share in the GCC Fire Safety Equipment market in 2022, owing to governments’ assertion and compliances regarding their installation in residential and commercial buildings to prevent any fire incidents. The Kingdom of Saudi Arabia and the UAE have been the market leaders in this industry due to stringent government norms regarding fire safety in these countries, growing commercial sector, increasing real estate projects, and soaring installation in the transportation sector.

Moreover, several civil defense departments across the GCC, such as the Dubai Civil Defense (DCD), have formulated numerous fire safety guidelines for commercial and residential builders in recent years. This involves the installation of fire extinguishers which would accelerate the demand for such extinguishers in the forecast period.

Based on End Users:

  • Residential
  • Commercial
  • Industrial
  • Hospitality
  • Retail
  • Oil and Gas

Based on End Users, Commercial sector held the major share in the GCC Fire safety equipment market in 2022. The rapid construction of commercial buildings such as corporate offices, hypermarkets & supermarkets, shopping malls, etc., in the region has positively impacted the demand for this equipment in the last few years. These sectors have majorly benefitted from the surging government initiatives to strengthen the non-oil economic sectors, such as tourism, e-commerce, IT industries, manufacturing facilities, etc. Thus, to ensure the efficient operation of these commercial faculties, the segment witnessed a surge in the demand for fire safety equipment in the GCC.

Additionally, the launch of government initiatives like Abu Dhabi Economic Vision 2030, Qatar's National Vision 2030 and Saudi Arabia's Vision 2030, which aims to increase the tourist influx in the country, has led to growth in the commercial sector. The surge in the construction of malls, resorts, and other tourist attractions places in the country has led to an increase in the GDP through the tourism sector. Hence, it is projected that the GCC Fire safety equipment market would grow steadily during the forecast period due to the surging expansion of the commercial sector in the region.

Country Landscape

Geographically, the GCC Fire Safety Equipment Market expand across:

  • The UAE
  • Saudi Arabia
  • Oman
  • Kuwait
  • Bahrain
  • Qatar

Saudi Arabia dominated the regional Fire Safety Equipment Market. However, the market witnessed significant growth owing to the government's goal to diversify its economy and is constantly framing favorable policies to attract greenfield investors. It involves the development of smart cities and to expand its tourism industry, the rising number of warehouses brought on by the boom of the e-commerce industry, and a few other factors. The growth of these industries has accelerated the demand for fire safety equipment’s.

Moreover, the rising adoption of advanced fire safety measures by the end user’s industry. The other crucial factors that boost market growth include technological upgradation in fire-extinguishing equipment, ascending number of high-rise buildings, and significant usage across educational institutes, hospitals, research centers, public transport, and gas stations chemical facilities, and retail and hospitality verticals.

Market Dynamics:

Key Driver: Expansion of IT and Retail Sector to Drive Growth of Fire Safety Equipment Market

The massive industrialization and urbanization in the Gulf region countries such as the UAE, Saudi Arabia and Kuwait, etc., is fueling the need for sophisticated system to detect and prevent fires. In the UAE, the growth of retail sectors & commercial spaces has been contributing to the demand for fire safety equipment. The construction of retail stores is rising significantly. According to the Majid Al Futtaim Group, a real estate and retail conglomerate, retail consumer spending in the United Arab Emirates increased by about 14% in 2022 compared to the same period in 2019.

In addition, favorable government policies such as the UAE Fire and Safety Code of Conduct and Saudi Arabia's SBC 801 Building Code Fire Protection Requirements mandate the implementation of firefighting equipment in new construction and renovation projects. reconstruction and renovation, promoting the growth of the sector in the coming years.

Possible Restraint: Slow Construction of Commercial Infrastructure Projects to Hinder Market Growth

Lack of new construction projects in the countries like Kuwait and Oman has hindered the market growth of Fire safety equipment in the recent years. Demand for fire safety equipment in Kuwait and Oman is highly driven by development of new construction projects in the country. However, in the recent years after covid-19 pandemic, both the countries are witnessing significant decline in the count of new construction projects which has affected the market growth of fire safety equipment in the region.

Further, during the historical period, oil prices stayed below fiscal breakeven for majority of countries in the gulf region. And, declining oil prices has further compelled oil driven economy of GCC nations to reduce liquidity in the market, resulting in reduced credit to fund construction projects. Thus, new construction activity slowed down in the gulf region in recent years resulting in affecting fire safety equipment market growth in the country.

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Frequently Asked Questions

A. The GCC Fire Safety Equipment Market is projected to grow at a CAGR of around 3.26% during 2023-2028.

A. Commercial is the leading end user for Fire Safety Equipment in the GCC Fire Safety Equipment Market during 2023-2028

A. Expansion of IT and Retail Sector is expected to drive the GCC Fire Safety Equipment Market during 2023-28.

A. Amerex Corporation, Emirates Fire Fighting Equipment Factory LLC (FireX), Fike Corporation, Honeywell International Inc., Minimax-Viking Gmbh, NAFFCO FZCO, Saudi Factory for Fire Equipment Co., Bristol Fire Engineering, Johnson Controls (Tyco), Al Aman Fire are top players in the GCC Fire Safety Equipment Market during 2023-2028.

A. The UAE is anticipated to dominate the GCC Fire Safety Equipment Market during 2023-2028.

A. Slowing Construction of Commercial Infrastructure Projects is anticipated to slow Market Growth during 2023-28.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Macroeconomic Outlook
  5. GCC Fire Safety Equipment Market Porters Five Forces Analysis
  6. GCC Fire Safety Equipment Market Supply Chain Analysis
  7. GCC Fire Safety Equipment Market Trends & Insights
  8. GCC Fire Safety Equipment Market Dynamics
    1. Drivers
    2. Challenges
  9. GCC Fire Safety Equipment Market Growth Opportunities & Hotspots
  10. GCC Fire Safety Equipment Market Policy & Regulations
  11. GCC Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
        1. Fire Extinguishers
        2. Fire Suppression Systems
        3. Fire Sprinkler Systems
        4. Fire Detection and Alarm Systems
      2. By End User
        1. Residential
        2. Commercial
        3. Industrial
        4. Hospitality
        5. Retail
        6. Oil and Gas
      3. By Countries
        1. The UAE
        2. Saudi Arabia
        3. Qatar
        4. Kuwait
        5. Oman
        6. Bahrain
      4. By Company
        1. Market Share
        2. Competition Characteristics
  12. The UAE Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  13. Saudi Arabia Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  14. Qatar Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  15. Kuwait Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  16. Oman Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  17. Bahrain Fire Safety Equipment Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
    2. Market Share & Outlook
      1. By Equipment Type
      2. By End User
  18. GCC Fire Safety Equipment Market Key Strategic Imperatives for Growth & Success
  19. Competitive Benchmarking
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
    2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
      1. Amerex Corporation
      2. Emirates Fire Fighting Equipment Factory LLC (FireX)
      3. Fike Corporation
      4. Honeywell International Inc.
      5. Minimax-Viking Gmbh
      6. NAFFCO FZCO
      7. Saudi Factory for Fire Equipment Co.
      8. Bristol Fire Engineering
      9. Johnson Controls (Tyco)
      10. Al Aman Fire
      11. Others
  20. Disclaimer
GCC Fire Safety Equipment Market - Segmentation Slide