Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the most promising fireplace safety markets in entire GCC region. In last few years, the market has loved sturdy growth owing to rising building market within the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with current hearth incidences and emergence of excessive rise buildings the need for superior fire security methods have surged within the nation.
The newly constructed buildings or ongoing building could be geared up with advanced fireplace safety techniques, nonetheless, immense alternatives exist for the gamers in retrofit buildings section which have conventional fire security techniques.
In the yr 2015, the market for hearth security techniques in Saudi Arabia declined as a end result of slumping oil costs, which affected infrastructure/real estate spending and building actions. Moreover, most of the upcoming tasks had been put on hold by the federal government to minimize back the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fireplace security market touched $577 million in 2015. The fire security market in Saudi Arabia is expected to remain risky until 2017, where progress could be recorded publish 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Genuine , UAE, the second largest fire safety market in GCC area registered positive growth because of growing development activities for the upcoming Dubai World Expo 2020. The occasion is prone to appeal to 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, entertainment, and so on. Also, government mandates are additional fueling the expansion of the market in UAE.
In general Saudi Arabia’s fire safety market, hearth safety systems have generated majority of the market revenues, wherein fire extinguishers, fireplace suppression techniques and fire pumps & controllers have led the market development.
Over the following six years, Saudi Arabia’s fire security market would be pushed by the government obligatory rules and replacement of current fireplace safety methods. Residential and industrial verticals would be the important thing verticals the place main substitute markets exists.
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