Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the promising fireplace security markets in complete GCC region. In previous few years, the market has loved sturdy progress owing to growing building market in the areas corresponding to residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with latest fire incidences and emergence of high rise buildings the need for superior fire security systems have surged in the nation.
The newly constructed buildings or ongoing building would be geared up with superior hearth safety systems, nevertheless, immense opportunities exist for the gamers in retrofit buildings segment which have traditional hearth safety methods.
In the yr 2015, the market for fire security methods in Saudi Arabia declined as a result of slumping oil costs, which affected infrastructure/real property spending and development activities. Moreover, many of the upcoming projects have been put on maintain by the government to minimize back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fire security market touched $577 million in 2015. The hearth safety market in Saudi Arabia is expected to stay unstable until 2017, where development would be recorded submit 2017 with the recovery of the oil costs coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered optimistic progress as a result of growing development activities for the upcoming Dubai World Expo 2020. Price break is likely to appeal to 25 million tourists, which is spurring the construction in the areas of hospitality, public infrastructure, retail, leisure, and so on. Also, government mandates are additional fueling the expansion of the market in UAE.
In total Saudi Arabia’s hearth safety market, fireplace protection methods have generated majority of the market revenues, whereby hearth extinguishers, fire suppression techniques and fire pumps & controllers have led the market growth.
Over the following six years, Saudi Arabia’s hearth safety market can be pushed by the government necessary rules and alternative of present fireplace security methods. Residential and industrial verticals could be the important thing verticals where main alternative markets exists.
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