Saudi Arabia has remained one of the promising fireplace security markets in entire GCC area. In previous few years, the market has enjoyed robust growth owing to rising development market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with latest fire incidences and emergence of high rise buildings the necessity for advanced fireplace security methods have surged within the country.
The newly constructed buildings or ongoing building could be equipped with advanced fireplace safety techniques, nevertheless, immense opportunities exist for the players in retrofit buildings section which have traditional fireplace safety techniques.
In the 12 months 2015, the market for fire security techniques in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real property spending and building actions. Moreover, most of the upcoming initiatives were placed on hold 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. pressure gauge วัด แรง ดัน น้ำ in Saudi Arabia is predicted to remain risky until 2017, where progress can be recorded submit 2017 with the restoration of the oil prices coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest hearth security market in GCC area registered constructive growth as a outcome of growing development actions for the upcoming Dubai World Expo 2020. The event is prone to appeal to 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, entertainment, and so forth. Also, government mandates are further fueling the expansion of the market in UAE.
In overall Saudi Arabia’s hearth safety market, hearth protection techniques have generated majority of the market revenues, whereby fireplace extinguishers, fireplace suppression techniques and fire pumps & controllers have led the market progress.
Over the following six years, Saudi Arabia’s fire safety market could be pushed by the federal government necessary regulations and alternative of current hearth security methods. Residential and industrial verticals would be the key verticals where main substitute markets exists.
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