Saudi Arabia has remained one of the most promising fire security markets in complete GCC area. In previous couple of years, the market has loved robust progress owing to growing building market within the areas such as residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with current fireplace incidences and emergence of excessive rise buildings the need for superior hearth safety systems have surged in the nation.
The newly constructed buildings or ongoing building could be outfitted with advanced fireplace security techniques, nonetheless, immense alternatives exist for the gamers in retrofit buildings phase which have traditional hearth security methods.
In the 12 months 2015, the market for hearth security methods in Saudi Arabia declined because of slumping oil prices, which affected infrastructure/real estate spending and building activities. Moreover, lots of the upcoming projects were placed on hold by the federal government to reduce the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s hearth security market touched $577 million in 2015. The fire security market in Saudi Arabia is anticipated to stay risky till 2017, the place progress would be recorded submit 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire safety market in GCC region registered constructive progress because of rising construction actions for the upcoming Dubai World Expo 2020. The event is prone to entice 25 million tourists, which is spurring the construction in the areas of hospitality, public infrastructure, retail, leisure, etc. Also, authorities mandates are further fueling the growth of the market in UAE.
In overall Saudi Arabia’s fire safety market, hearth safety systems have generated majority of the market revenues, whereby hearth extinguishers, hearth suppression systems and hearth pumps & controllers have led the market progress.
Over the following six years, Saudi Arabia’s fire safety market could be pushed by the federal government mandatory laws and replacement of present fire safety methods. Residential and industrial verticals would be the vital thing verticals where major replacement markets exists.
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