GCC Fire Detection and Alarm System Market
GCC Fire Detection and Alarm System Market Size Set to Touch USD 3.1 Billion by 2029
Published | 14 September 2023
GCC fire detection and alarm system market is gaining traction because of the supportive government regulations on fire safety and growing construction activities in the region.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC fire detection and alarm system market size at USD 2.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC fire detection and alarm system market size to grow at a CAGR of 5.3% reaching a value of USD 3.1 billion by 2029. Rising consumer awareness of fire safety in their homes and strict government laws on fire safety in commercial and industrial areas are two key growth drivers for the GCC fire detection and alarm system market.
GCC Fire Detection and Alarm System Market – Overview
A building's fire alarm system is intended to detect and notify residents and emergency personnel of the presence of smoke, fire, carbon monoxide, or other fire-related emergencies. These systems detect fires, warn building residents, control danger, and inform the fire department. The four different kinds of fire detectors are heat, ionization/photoelectric, photoelectric, and ionization. These four varieties differ from one another in that heat is caused by temperature, whilst the other three are induced by smoke.
GCC Fire Detection and Alarm System Market
GCC Fire Detection and Alarm System Market – By Detection Technology
Based on detection technology, the GCC fire detection and alarm system market is split into addressable and conventional segments. Addressable detection technology accounts for a higher share in the GCC fire detection and alarm system market. This technology is capable of determining the exact location of the fire breakout, saving time and resources, therefore, is prominently used in commercial and residential facilities. However, conventional technology also covers a substantial market share owing to its wide demand in the residential sector.
Impact of COVID-19 on the GCC Fire Detection and Alarm System Market
The COVID-19 pandemic hindered the growth of the GCC fire detection and alarm system market. The restrictions on the operations of the end user industries, including oil and gas, electrical equipment, petrochemicals, and chemical products, as well as closure of the commercial facilities such as hotels and offices directly impacted the growth of the market. However, the market gained traction in the medical and residential sectors. The overburdening of the hospitals and excessive use of ICUs for the COVID-19-affected patients, increased the fire hazard risks, due to which the hospitals had to invest in advanced fire detection and alarm systems to prevent casualties, limiting the overall market growth.
Major players operating in the GCC fire detection and alarm system market include Honeywell International Inc., Tyco Fire & Security, Siemens AG, Johnson Controls, Naffco (National Fire Fighting Manufacturing Company), Advanced Electronics Company Limited, Inertia Group, Apollo Fire Detectors, Delta Electronics, and Fike Corporation
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the GCC Fire Detection and Alarm System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the GCC Fire Detection and Alarm System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- GCC Fire Detection and Alarm System Market, By Offering (Hardware, Software); By Product Type (Fire Alarm, Detector); By Detection Technology (Addressable, Conventional); By Connectivity (Wired, Wireless); By End User (Commercial, Residential, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: September 2023
Increasing government regulations on fire safety and growing construction activities in the region are expected to boost the growth of GCC Fire Detection and Alarm System Market during the forecast period between 2023 and 2029.
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