Saudi Arabia has remained some of the promising hearth safety markets in entire GCC area. In last few years, the market has enjoyed strong growth owing to growing development market within the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with latest fireplace incidences and emergence of excessive rise buildings the necessity for superior fireplace security techniques have surged within the country.
The newly constructed buildings or ongoing construction can be geared up with superior fire security techniques, nonetheless, immense opportunities exist for the gamers in retrofit buildings phase which have traditional fireplace security methods.
In the year 2015, the market for fireplace security techniques in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real property spending and construction actions. Moreover, most of the upcoming initiatives were placed on maintain by the federal government to scale back the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fire safety market touched $577 million in 2015. The hearth safety market in Saudi Arabia is anticipated to stay unstable until 2017, the place growth would be recorded submit 2017 with the restoration of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered constructive growth because of rising construction activities for the upcoming Dubai World Expo 2020. pressure gauge octa is more doubtless to appeal to 25 million tourists, which is spurring the construction within the areas of hospitality, public infrastructure, retail, leisure, and so on. Also, pressure gauge are further fueling the growth of the market in UAE.
In total Saudi Arabia’s fire security market, fire safety methods have generated majority of the market revenues, whereby hearth extinguishers, fire suppression methods and fireplace pumps & controllers have led the market progress.
Over the next six years, Saudi Arabia’s fire security market can be pushed by the federal government mandatory laws and alternative of present hearth security methods. Residential and industrial verticals could be the important thing verticals the place main substitute markets exists.
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