Fire Protection is the study of alleviating the unwanted effects of fire and its potentially destructive hazards. The design of buildings and infrastructures, provision of isolating fires, firewalls and doors, use of fire resistant materials in construction, fire detectors, fire alarms, and automatic fire sprinklers are all a part of fire protection system. Moreover, fire protection is an everyday action. The fire regulations must be implemented in factories, public places, and transportation and living areas. Some examples of fire protection systems are post indicator alarms, tamper switches, water flow alarms and evacuation alarms are examples of fire protection systems. Fire extinguishers carry high weightage in fire protection systems.
The newly drafted fire safety regulation in UAE was introduced in January 2017. The new guidelines highlights safety of all the individuals of the country from any kind of fire incidents causing loss of life and property. The demand for fire safety systems and equipment in UAE would continue to grow in the future on the back of infrastructure expansion and stringent regulations. UAE Fire Safety and Equipment market is projected to grow at a CAGR of 10 percent during 2017-2023. Fire safety systems and equipment market in UAE is expected to spur in the coming years owing to numerous infrastructure projects worth more than USD400 Billion, which are lined up in Dubai alone for World Expo 2020 and for Dubai Plan 2021 according to Research and Markets.
The global fire protection systems market can be segmented on the basis of technology, products, end use and regions. On the basis of technology, the global fire protection systems market can be segmented on the basis of active fire protection systems and passive fire protection systems. Considering products, the global fire protection systems market can be segmented into fire detection, fire analysis, fire management and fire response. On account of end use, the global fire protection systems market can be segmented on the basis of organizations, institutions, banks, government, retail, energy and power, healthcare, oil and gas, mining, transportation, logistics, manufacturing plants and others. On the basis of regions, the global fire protection systems market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Middle East & Africa and Japan. The increasing rate of accidents is a key factor driving the global fire protection systems market.
The advancement of fire protection technology is another factor fueling the demand of the global fire protection systems market. Further, government safety regulations are also affecting the overall market to grow. Increased mining and oil and gas and mining activities is another major factor fuelling the growth of the global fire protection systems market. Increased fire protection expenditure from enterprise segments and technological innovations in networking and equipment are some other factors pumping the growth of the global fire protection systems market.
High initial costs for the fire protection systems is one of the crucial factor affecting the market. Moreover, the installation costs is one more factor affecting the growth of the global fire protection systems market. Fire protection system failures are also a leading factor decreasing the demand for the fire protection systems among consumers thus simultaneously pulling the overall global fire protection systems market. With innovation in technology, the user friendly fire protection systems are popular in the market. Automated and system operated fire protection systems are trending in the market and show cast a huge demand for fire protection systems in the coming years.