Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the promising fire security markets in complete GCC area. In previous few years, the market has loved sturdy progress owing to growing development market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with current fire incidences and emergence of excessive rise buildings the necessity for superior fire safety techniques have surged in the nation.
The newly constructed buildings or ongoing development could be outfitted with superior hearth security systems, nonetheless, immense alternatives exist for the players in retrofit buildings phase which have traditional hearth safety systems.
In the year 2015, the marketplace for hearth safety techniques in Saudi Arabia declined because of slumping oil prices, which affected infrastructure/real estate spending and construction activities. Moreover, lots of the upcoming initiatives were put on maintain by the government to reduce the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fireplace security market touched $577 million in 2015. The hearth safety market in Saudi Arabia is anticipated to remain unstable till 2017, where development can be recorded post 2017 with the restoration of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered constructive growth as a outcome of rising development activities for the upcoming Dubai World Expo 2020. The occasion is likely to attract 25 million tourists, which is spurring the construction within the areas of hospitality, public infrastructure, retail, leisure, etc. Also, government mandates are further fueling the growth of the market in UAE.
In general Saudi Arabia’s fireplace security market, hearth safety techniques have generated majority of the market revenues, wherein fireplace extinguishers, fire suppression techniques and fireplace pumps & controllers have led the market progress.
Over the subsequent six years, Saudi Arabia’s fire safety market would be pushed by the federal government obligatory rules and substitute of existing fire security techniques. Residential and industrial verticals could be the key verticals the place main replacement markets exists.
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