Saudi Arabia Fire Safety Market Reached $577 million in 2015

เกจวัดแรง has remained one of the most promising hearth safety markets in complete GCC area. In previous few years, the market has loved sturdy progress owing to growing construction market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with recent fire incidences and emergence of excessive rise buildings the necessity for advanced fire security systems have surged in the country.
The newly constructed buildings or ongoing building can be equipped with advanced hearth safety methods, nevertheless, immense opportunities exist for the players in retrofit buildings segment which have traditional hearth security methods.
In the year 2015, the market for fireplace safety methods in Saudi Arabia declined due to slumping oil costs, which affected infrastructure/real property spending and construction actions. Moreover, most of the upcoming initiatives were put on maintain by the federal government to reduce the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fire safety market touched $577 million in 2015. The fire safety market in Saudi Arabia is anticipated to stay volatile till 2017, where growth could be recorded publish 2017 with the restoration of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fireplace security market in GCC area registered optimistic progress because of rising building activities for the upcoming Dubai World Expo 2020. The occasion is likely to attract 25 million vacationers, which is spurring the development in the areas of hospitality, public infrastructure, retail, entertainment, and so on. Also, government mandates are additional fueling the growth of the market in UAE.
In overall Saudi Arabia’s hearth safety market, hearth protection methods have generated majority of the market revenues, wherein fire extinguishers, fireplace suppression systems and fire pumps & controllers have led the market progress.
Over the following six years, Saudi Arabia’s fireplace safety market could be pushed by the federal government necessary laws and substitute of current hearth safety methods. Residential and industrial verticals would be the important thing verticals where major substitute markets exists.
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