Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained some of the promising hearth safety markets in entire GCC area. In last few years, the market has enjoyed sturdy progress owing to rising development market in the areas corresponding to residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with current hearth incidences and emergence of excessive rise buildings the necessity for advanced fireplace safety methods have surged within the country.
The newly constructed buildings or ongoing building could be equipped with superior fire security techniques, however, immense opportunities exist for the gamers in retrofit buildings segment which have traditional fire security methods.
In the yr 2015, the marketplace for fire safety methods in Saudi Arabia declined due to slumping oil prices, which affected infrastructure/real estate spending and building actions. Moreover, many of the upcoming projects have been placed on hold by the federal government to cut back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fireplace safety market touched $577 million in 2015. The fire security market in Saudi Arabia is anticipated to remain risky until 2017, where progress would be recorded publish 2017 with the recovery of the oil costs coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC region registered optimistic development as a outcome of rising development activities for the upcoming Dubai World Expo 2020. Premiere is more probably to appeal to 25 million vacationers, which is spurring the construction in the areas of hospitality, public infrastructure, retail, entertainment, and so forth. Also, authorities mandates are additional fueling the expansion of the market in UAE.
In general Saudi Arabia’s fireplace safety market, fireplace safety systems have generated majority of the market revenues, wherein fireplace extinguishers, hearth suppression systems and fire pumps & controllers have led the market growth.
Over the subsequent six years, Saudi Arabia’s fire security market could be driven by the federal government necessary regulations and alternative of current fire safety systems. Residential and industrial verticals would be the key verticals where major replacement markets exists.
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