Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the most promising fire security markets in complete GCC area. In previous couple of years, the market has loved strong growth owing to rising development market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with latest fireplace incidences and emergence of high rise buildings the necessity for advanced fire safety techniques have surged within the country.
Quadruple constructed buildings or ongoing development could be equipped with superior fire safety systems, however, immense alternatives exist for the gamers in retrofit buildings section which have conventional fireplace safety techniques.
In the year 2015, the market for hearth safety systems in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real property spending and development activities. Moreover, lots of the upcoming tasks were placed on hold by the government to scale back the burden on the Saudi Arabia’s financial system.
According to 6Wresearch, Saudi Arabia’s hearth safety market touched $577 million in 2015. The fireplace security market in Saudi Arabia is expected to remain volatile till 2017, where development can be recorded publish 2017 with the restoration of the oil prices coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC region registered constructive development because of growing building activities for the upcoming Dubai World Expo 2020. The occasion is prone to attract 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, leisure, etc. Also, authorities mandates are additional fueling the growth of the market in UAE.
In total Saudi Arabia’s fire security market, fire safety systems have generated majority of the market revenues, whereby fireplace extinguishers, fireplace suppression systems and hearth pumps & controllers have led the market development.
Over the following six years, Saudi Arabia’s fire safety market could be pushed by the government mandatory laws and replacement of current hearth security techniques. Residential and industrial verticals would be the key verticals the place major substitute markets exists.
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