Middle East And Africa Smoke Detector Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s study on the smoke detector market in the Middle East and Africa puts forth that it would progress with an 8.30% CAGR in the forecast years from 2023 to 2030. South Africa, the United Arab Emirates, Saudi Arabia, Turkey, and Rest of Middle East & Africa are evaluated in the market in this region.
Turkey’s construction industry contributes 5.4% to the overall GDP. The urban development initiative by the Ministry of Environment and Urbanization is a driving force of this industry. It has proposed the Urban Transformation Action Plan to replace old & dilapidated buildings with sustainable living spaces, thus transforming over 1.5 million dwellings by 2024. Such initiatives to strengthen the construction industry are expected to accelerate the adoption of smoke detectors in the country, and thereby drive the market’s growth.
In 2021, over 2,090 fire incidents were reported in residences and other buildings situated in the United Arab Emirates, as per official government sources. These instances resulted in a large number of deaths, injuries, and vast material losses. Such incidents have prompted the adoption of smoke detectors across the country. Moreover, several multibillion-dollar projects, such as the Residences on Palm Jumeirah and the New Royal Atlantis Resort, are currently being constructed in and around Abu Dhabi and Dubai. The construction sector boom is anticipated to further support the growth of the smoke detector market in the country.
COMPETITIVE OUTLOOK
The acclaimed players in the smoke detector market include Huawei Technologies Co Ltd, Honeywell International Inc, Secom Co Ltd, ABB Ltd, Hochiki Corporation, and Siemens AG.
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