Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained some of the promising fire security markets in entire GCC area. In previous couple of years, the market has enjoyed strong progress owing to growing construction market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with current fireplace incidences and emergence of high rise buildings the necessity for advanced fireplace security techniques have surged within the nation.
The newly constructed buildings or ongoing building would be outfitted with superior hearth security systems, however, immense alternatives exist for the players in retrofit buildings section which have conventional hearth security techniques.
In the 12 months 2015, the marketplace for fireplace safety techniques in Saudi Arabia declined as a outcome of slumping oil prices, which affected infrastructure/real estate spending and construction actions. Moreover, lots of the upcoming initiatives had been put on maintain by the federal government to scale back the burden on the Saudi Arabia’s financial system.
According to 6Wresearch, Saudi Arabia’s fireplace safety market touched $577 million in 2015. pressure gauge in Saudi Arabia is expected to stay unstable till 2017, the place growth would be recorded publish 2017 with the recovery of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest hearth safety market in GCC region registered positive development as a end result of growing building actions for the upcoming Dubai World Expo 2020. The occasion is more probably to attract 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, government mandates are further fueling the expansion of the market in UAE.
In general Saudi Arabia’s fireplace security market, hearth protection techniques have generated majority of the market revenues, wherein fireplace extinguishers, fire suppression techniques and fireplace pumps & controllers have led the market development.
Over the following six years, Saudi Arabia’s fire security market can be driven by the government necessary regulations and replacement of current hearth security techniques. Residential and industrial verticals can be the key verticals the place major substitute markets exists.
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