Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the most promising hearth security markets in complete GCC region. In previous couple of years, the market has loved robust development owing to growing construction market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with current fireplace incidences and emergence of excessive rise buildings the necessity for superior hearth safety systems have surged in the nation.
The newly constructed buildings or ongoing construction could be outfitted with superior fireplace safety techniques, however, immense opportunities exist for the gamers in retrofit buildings segment which have traditional fire security systems.
In the year 2015, the marketplace for fire security methods in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real estate spending and construction activities. Moreover, เกจวัดแรงดันถังลม of the upcoming projects were placed on hold by the government to scale back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fireplace safety market touched $577 million in 2015. The hearth security market in Saudi Arabia is predicted to remain unstable till 2017, where growth could be recorded submit 2017 with the recovery of the oil prices coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fire safety market in GCC area registered positive growth because of rising development activities for the upcoming Dubai World Expo 2020. The event is more doubtless to entice 25 million vacationers, which is spurring the development within the areas of hospitality, public infrastructure, retail, leisure, etc. Also, government mandates are further fueling the growth of the market in UAE.
In general Saudi Arabia’s fire security market, fireplace safety systems have generated majority of the market revenues, wherein hearth extinguishers, fireplace suppression methods and fireplace pumps & controllers have led the market progress.
Over the subsequent six years, Saudi Arabia’s fireplace security market would be driven by the federal government necessary rules and replacement of existing fireplace safety techniques. Residential and industrial verticals can be the necessary thing verticals where major alternative markets exists.
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