Press release from Business Wire India
Source: Frost & Sullivan
Monday, March 22, 2010 02:05 PM IST (08:35 AM GMT)
Editors: General: Environment; Business: Construction, Financial Analyst, Real estate; Technology
--------------------------------------------------
Explosive Growth in the Construction Sector Revs up Prospects for the Middle East Fire Detection and Suppression Systems Market, Finds Frost & Sullivan
Dubai, United Arab Emirates, Monday, March 22, 2010 -- (Business Wire India) -- The Middle East fire detection and suppression systems market is in the growth stage. The Gulf Cooperation Council (GCC) states generated cumulative surpluses due to increased oil prices in 2008, and much of this income was directed toward construction projects and industrial development. The influx of expatriates and increasing per capita income has augmented the demand for residential and retail development. Increasing activities in the industrial and commercial sectors, where suppression systems are widely used in places such as refineries and server rooms, have boosted the sales figures for such systems.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Analysis of the Middle East Fire Detection and Suppression Systems Market, finds that the market earned revenues of over $635.0 million in 2008, and estimates this to reach $1,124.9 million in 2013.
If you are interested in more information on this study, please send an e-mail to Tanu Chopra/ Nimisha Iyer, Corporate Communications, at tanu.chopra@frost.com / niyer@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
"Fire suppression has been identified as a key component in the safety measures adopted in this region, and enforcement of fire regulations in the GCC market is spiking demand for fire detection systems," says Frost & Sullivan Research Analyst Suganya Rajan. "For example, in Dubai the regulations have become stricter for buildings under construction, requiring the installation of sprinkler systems for fire suppression."
Trends point to a gravitation away from conventional systems to intelligent addressable systems. The UAE dominated the demand for fire detection and suppression systems in Middle East, and remained the regional leader in terms of market opportunities. However, there is a distinct shift of focus toward Saudi Arabia and Qatar, the two countries that ramped up their real estate and commercial activities, despite the recession.
Although the outlook for the market is bright, there are some issues clouding the landscape. As the number of manufacturers present in the region is limited, the dependence on imports for fire detection and suppression solutions is high. Import dependency has given rise to problems related to supply, demand, and exchange rate volatility. Companies that have not hedged against these currency fluctuations will face tough times with the volatility against the U.S. dollar.
All major multinationals were entering this market through either the organic or inorganic route, creating more pressure on profit margins. Intense competition has prevented the entry of new participants into this domain. Over a hundred registered companies are in the fray, and a majority of them are system integrators.
"The differences in laws governing the various countries have also created roadblocks for the market and curtailed the expansion plans of companies," says Rajan. "Understanding the dynamics and regulations governing the individual markets can expedite geographic expansion plans."
High labor costs involved in the installation of systems have proved challenging for participants. As pricing is a key success determinant, developers are striving to cut costs while installing systems.
Going forward, companies must direct attention toward the emerging markets in countries such as Saudi Arabia, Qatar, and Kuwait to flourish in this competitive environment. Sharing a good rapport with consultants and streamlining supply chain management will enable companies to gain a foothold in the market.
"Product durability is of utmost importance as the harsh weather conditions require systems to withstand extreme environments," observes Rajan. Service and maintenance of systems are offered by almost all the market participants. This offers them the scope to leverage on their potential and helps in retaining clients.
Analysis of the Middle East Fire Detection and Suppression Systems Market is part of the Building Management Technologies Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of Fire & gas detection systems in India, The European Lighting Market: Impact of the EU Ban on Inefficient Lamps, North American HVAC Air Filters Market, and Analysis of the District Cooling Market in the Middle East Region. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Analysis of the Middle East Fire Detection and Suppression Systems Market
P2DD
CONTACT DETAILS
Tanu Chopra Corporate Communications - Middle East, Frost & Sullivan, +91 (22) 40013437, tanu.chopra@frost.com
Ravinder kaur Corporate Communications - South Asia, Frost & Sullivan, +91 (44) 42044760, ravinder.kaur@frost.com
Nimisha Iyer Corporate Communications - South Asia & Middle East, Frost & Sullivan, +919820050519, niyer@frost.com
KEYWORDS
ENVIRONMENT, CONSTRUCTION, Financial Analyst, REAL ESTATE, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
No comments:
Post a Comment