Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained some of the promising fireplace safety markets in entire GCC area. In previous few years, the market has enjoyed sturdy development owing to rising construction market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with latest hearth incidences and emergence of excessive rise buildings the need for advanced fireplace safety methods have surged within the nation.
The newly constructed buildings or ongoing construction can be geared up with superior fire safety techniques, nevertheless, immense alternatives exist for the gamers in retrofit buildings phase which have conventional hearth security techniques.
In the year 2015, the market for fire safety systems in Saudi Arabia declined because of slumping oil prices, which affected infrastructure/real property spending and development activities. Moreover, lots of the upcoming initiatives have been placed on hold 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 fire safety market in Saudi Arabia is expected to remain volatile till 2017, the place progress could be recorded post 2017 with the recovery of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest hearth security market in GCC region registered optimistic development due to growing development activities for the upcoming Dubai World Expo 2020. The event is likely to appeal to 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, leisure, etc. Also, government mandates are further fueling the expansion of the market in UAE.
In total Saudi Arabia’s hearth safety market, fire protection techniques have generated majority of the market revenues, wherein fireplace extinguishers, fireplace suppression systems and fireplace pumps & controllers have led the market growth.
Over Forbidden following six years, Saudi Arabia’s fireplace safety market can be pushed by the government mandatory laws and replacement of current fire safety methods. Residential and industrial verticals could be the vital thing verticals the place main substitute markets exists.
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