GCC Fire Safety Equipment Market Overview and Insights:
According to MarkNtel Advisors Report, GCC Fire Safety Equipment Market projected to grow at a CAGR of around 3.26% during the forecast period, i.e., 2023-28.
GCC Fire Safety Equipment Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Time Period Captured in the Report:
Historical Years: 2018-21
Base Years: 2022
Forecast Years: 2023-28
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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.
Who are the Key Players Operating in the GCC Fire Safety Equipment Industry?
The top companies of the GCC Fire Safety Equipment market ruling the industry are:
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
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What is Included in GCC Fire Safety Equipment Market Segmentation?
The report has segmented the market into the following categories:
-By 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.
-By End User
Residential
Commercial
Industrial
Hospitality
Retail
Oil and Gas
Geographical Analysis:
-By Country
The UAE
Saudi Arabia
Qatar
Kuwait
Oman
Bahrain
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