12 Nov Africa fire safety systems & equipment market to Grow at a CAGR of 4.4% during 2020-2026
The report comprehensively covers the market by types, applications, and countries. The report provides an unbiased and detailed analysis of Middle East, Turkey & Africa fire safety systems & equipment market trends, Middle East, Turkey & Africa fire safety systems & equipment market size opportunities, high growth areas and market drivers, which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
The Middle East, Turkey & Africa fire safety systems & equipment market witnessed moderate growth in the past years underpinned by rapid growth in the construction sector as the countries such as Qatar and UAE were spending heavily on infrastructure development during this period. Implementation of stringent safety norms is another primary reason driving the fire safety systems & equipment market in the Middle East, Turkey & Africa region.
However, the outbreak of the COVID-19 pandemic is anticipated to bring a slowdown in the market in the year 2020 as a result of a halt in construction projects and suspension of economic activities due to partial or complete lockdown imposed in several countries during the first half of the year. Recovery is expected in the market post-2020, with a gradual opening of economic activities and rising demand.
The market is anticipated to grow over the coming years as Middle Eastern and African countries are expected to witness a construction spree in the coming years with construction projects including the setting up of large-scale commercial establishments, such as economic cities, medical cities, hotels, and offices. The above-mentioned growth would also be fuelled by the guidelines released by several governments making the installation of fire safety equipment necessary in commercial establishments on the back of a rising number of fire incidents and increasing awareness regarding fir safety measures
The commercial and hospitality sectors are the key verticals that are driving the demand for fire safety systems and equipment, primarily firefighting equipment and fire detection and alarm systems. Government development plans such as Qatar National Vision 2030 and Saudi Vision 2030 would lead to the development of the infrastructure particularly, in the non-oil segment in these countries that would augment the demand for the aforementioned systems during the forecast period.