Saudi Arabia has remained one of the promising hearth security markets in entire GCC area. In previous couple of years, the market has loved sturdy development owing to growing building market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with latest fireplace incidences and emergence of excessive rise buildings the necessity for superior fire security techniques have surged in the country.
The newly constructed buildings or ongoing development could be equipped with superior fireplace security systems, however, immense opportunities exist for the gamers in retrofit buildings section which have traditional fireplace security systems.
In the 12 months 2015, the market for fireplace safety methods in Saudi Arabia declined due to slumping oil prices, which affected infrastructure/real estate spending and construction activities. Moreover, many of the upcoming projects have been put on maintain by the federal government to minimize back the burden on the Saudi Arabia’s economic system.
According to pressure gauge 10 bar , Saudi Arabia’s fire security market touched $577 million in 2015. The fireplace security market in Saudi Arabia is predicted to remain unstable till 2017, where progress can be recorded publish 2017 with the restoration of the oil prices coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fireplace security market in GCC area registered positive development due to growing construction actions for the upcoming Dubai World Expo 2020. The event is likely to appeal to 25 million tourists, which is spurring the construction in the areas of hospitality, public infrastructure, retail, leisure, and so forth. Also, digital pressure gauge are further fueling the growth of the market in UAE.
In overall Saudi Arabia’s fire safety market, fireplace protection systems have generated majority of the market revenues, wherein fireplace extinguishers, fire suppression techniques and fire pumps & controllers have led the market progress.
Over the next six years, Saudi Arabia’s fireplace security market can be pushed by the federal government necessary rules and alternative of existing fireplace safety methods. Residential and industrial verticals would be the necessary thing verticals the place main replacement markets exists.
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