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Ahead of Intersec Saudi Arabia, Consultancy Firm Forecasts Strong Growth and Market Transformation in Kingdom's Fire & Rescue Sector
 
Ahead of Intersec Saudi Arabia, Consultancy Firm Forecasts Strong Growth and Market Transformation in Kingdom's Fire & Rescue Sector

RIYADH: As Saudi Arabia looks to improve nationwide fire safety and industrial security regulations, the Kingdom’s demand for fire prevention and safety implementation systems is forecast to continue its upward trajectory during the next three years.

Market consultancy firm 6WResearch has forecast the Kingdom’s fire safety systems and equipment market – the largest in the GCC – will register 5.5 per cent compound annual growth by 2025, reaching a cumulative value of US$402m. Growth is being driven in part by government regulation of compulsory installation of fire safety, detection, and alarm systems in buildings and the recent strengthening of the remit of Saudi Arabia’s High Commission for Industrial Security (HCIS).

In August this year, Saudi Arabia’s higher authorities granted the HCIS – which sets policies overseeing security, safety, and fire protection for the Kingdom’s industrial sectors – increased powers to boost its efficiency. It means HCIS will now fully regulate policies governing security, safety, and fire protection in the petroleum, industrial, and service sectors. All facilities in these sectors can now only progress projects with the collaboration of the Commission.

“This will all result in increased demand for state-of-the-art systems and sector-wide training, which helps explain the 6WResearch forecast of a further upwards trajectory,” said Alex Nicholls, show director of Intersec Saudi Arabia, which runs from September 13-15 and is a key annual event in the Kingdom’s fire and emergency services, security, and safety industry.

“This all adds to the increased opportunities being held out to the fire protection and safety industries by the Kingdom’s plans to attract investments worth USD32 billion in the mining and mineral sector. This is expected to be achieved through nine new projects, including manufacturing facilities to produce steel plates for shipbuilding, electric vehicle batteries, and copper and zinc refineries, all of which are part of helping realise Saudi Arabia’s Vision 2030 objectives of making the mining sector the third pillar of the National Industrial Development and Logistics Program.”

The huge new potential of the Kingdom’s market is driving more sector-wide players to Saudi Arabia, as witnessed by the growth in Intersec Saudi Arabia, the fourth edition set to be held at Riyadh International Convention & Exhibition Centre (RICEC).

“This is shaping up to be our most comprehensive showcase to date,” said Nicolls. “We have received intense interest from the entire industrial eco-system, including key government leaders, agencies, and organisational heads.”

Intersec Saudi Arabia is witnessing growth across its six largest product categories: commercial; information; homeland; physical and perimeter security; police, fire, and rescue; and safety and health. Among the expanding exhibitor profile is Saudi-based security solutions provider National Security Services Company (SAFE), a strategic partner of the event

Though the international fire, rescue, safety, and security suppliers now have Saudi Arabia firmly in their sights, regional players believe they have a supply advantage as proximity to the Kingdom can enable them to counter the global supply chain challenges that have hampered their international counterparts.

UAE exhibitor National Factory for Safety and Security Products (NFSSP) plans to unveil its Hoods brand of tactical and safety footwear at Intersec Saudi Arabia and says it hopes to reap the benefit of its geographic accessibility to the Kingdom.

“Saudi Arabia is a hugely important market for us and is continuously growing,” said Majed Abdulaziz Ahmed Ateq Albakeri, CEO and chairman of NFSSP. “We see massive opportunities in the construction and oil and gas sectors. We estimate we can contribute around 200,000 pairs of shoes to the market in 2023 and grow 10 per cent over the next five years. Globally, many companies are facing issues and high costs in logistics, petrol, and other challenges when it comes to supplying the market. This makes our UAE-made shoes a great option for the Saudi and GCC markets. We are well-positioned, competitive, and our quality and technology are approved to European standards.”

Supply chain challenges will be among the topics addressed at Intersec Saudi Arabia’s Security Leaders’ Summit. Running for three days, the summit will bring together key government leaders, agencies, organisational heads, as well as world-class speakers, government stakeholders, policymakers, law enforcement, civil defence, and private sector players to define the future of security in the Kingdom.

“The Security Leaders’ Summit is a think tank for regional and international security industry players, who will gain key leader’s security perspectives on Saudi Arabia’s Vision 2030,” added Nicholls. “These insights will enable all parties to better prepare to meet the Kingdom’s security needs for the next decade and more.”

Intersec Saudi Arabia is organised by Al Harithy Company for Exhibitions (ACE), Saudi Arabia’s leading event organiser, and is licensed by Messe Frankfurt Exhibition GmbH, one of the world’s largest exhibition organisers. 
-ENDS-


Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 13774 times
PR Category : Government, Legal & Humanity
Posted on : Monday, September 12, 2022  9:45:00 AM UAE local time (GMT+4)
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