Saudi Arabia Fire Safety Market Reached $577 million in 2015

pressure gauge 10 bar has remained some of the promising fire security markets in entire GCC region. In previous few years, the market has loved robust growth owing to rising construction market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with latest fire incidences and emergence of excessive rise buildings the need for superior fireplace safety systems have surged in the country.
The newly constructed buildings or ongoing building can be equipped with superior hearth safety methods, nevertheless, immense opportunities exist for the players in retrofit buildings phase which have conventional fire security methods.
In the 12 months 2015, the market for hearth security methods in Saudi Arabia declined due to slumping oil costs, which affected infrastructure/real estate spending and building actions. Moreover, most of the upcoming initiatives were put on hold by the government to minimize back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fire security market touched $577 million in 2015. The fire safety market in Saudi Arabia is expected to stay volatile until 2017, where progress can be recorded publish 2017 with the recovery of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fireplace safety market in GCC region registered optimistic growth due to rising construction actions for the upcoming Dubai World Expo 2020. The event is more doubtless to attract 25 million tourists, which is spurring the development within the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, authorities mandates are further fueling the expansion of the market in UAE.
In general Saudi Arabia’s fireplace security market, fire safety techniques have generated majority of the market revenues, wherein fireplace extinguishers, fireplace suppression systems and fire pumps & controllers have led the market growth.
Over the following six years, Saudi Arabia’s fireplace security market could be driven by the federal government obligatory rules and replacement of current fire security techniques. Residential and industrial verticals could be the necessary thing verticals where main replacement markets exists.
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