Saudi Arabia has remained some of the promising fire safety markets in entire GCC region. In previous few years, the market has enjoyed sturdy progress owing to growing building 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 need for advanced fireplace security systems have surged within the nation.
The newly constructed buildings or ongoing building would be outfitted with superior fire security systems, nonetheless, immense alternatives exist for the gamers in retrofit buildings phase which have conventional fire safety systems.
In the year 2015, the market for fireplace security methods in Saudi Arabia declined due to slumping oil costs, which affected infrastructure/real estate spending and development actions. Moreover, most of the upcoming projects have been put on maintain by the government to reduce the burden on the Saudi Arabia’s financial system.
According to 6Wresearch, Saudi Arabia’s fire security market touched $577 million in 2015. The fire security market in Saudi Arabia is predicted to stay volatile till 2017, the place progress would be recorded publish 2017 with the restoration of the oil prices coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fireplace safety market in GCC region registered optimistic growth due to growing building actions for the upcoming Dubai World Expo 2020. The occasion is likely to attract 25 million tourists, which is spurring the construction within the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, government mandates are additional fueling the growth of the market in UAE.
In general Saudi Arabia’s hearth security market, fire safety methods have generated majority of the market revenues, whereby fire extinguishers, fireplace suppression methods and hearth pumps & controllers have led the market progress.
Over the next six years, Saudi Arabia’s fireplace safety market would be driven by the government obligatory regulations and replacement of existing fireplace safety methods. pressure gauge น้ำ and industrial verticals could be the key verticals where main alternative markets exists.
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