Saudi Arabia has remained one of the promising fireplace security markets in whole GCC area. In previous few years, the market has loved sturdy growth owing to rising construction market within the areas such as residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with latest fire incidences and emergence of excessive rise buildings the necessity for superior fireplace security methods have surged within the nation.
The newly constructed buildings or ongoing construction can be geared up with superior fireplace security techniques, nonetheless, immense alternatives exist for the gamers in retrofit buildings segment which have traditional fireplace security techniques.
In the 12 months 2015, the market for fire safety systems in Saudi Arabia declined because of slumping oil prices, which affected infrastructure/real estate spending and building activities. Moreover, lots of the upcoming tasks were placed on maintain by the federal government to reduce the burden on the Saudi Arabia’s financial system.
According to 6Wresearch, Saudi Arabia’s fireplace security market touched $577 million in 2015. The fire safety market in Saudi Arabia is expected to stay risky until 2017, where development could be recorded post 2017 with the recovery of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fireplace safety market in GCC region registered positive development due to growing development activities for the upcoming Dubai World Expo 2020. The event is more likely to attract 25 million vacationers, which is spurring the development within the areas of hospitality, public infrastructure, retail, leisure, etc. Also, authorities mandates are additional fueling the growth of the market in UAE.
In overall Saudi Arabia’s hearth safety market, fire protection methods have generated majority of the market revenues, wherein fireplace extinguishers, hearth suppression techniques and fire pumps & controllers have led the market progress.
Over the next six years, Saudi Arabia’s fire safety market would be driven by the federal government mandatory laws and substitute of present fireplace security techniques. เกจวัดแรงดัน and industrial verticals would be the key verticals the place main substitute markets exists.
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