Saudi Arabia has remained one of the most promising hearth safety markets in entire GCC region. In last few years, the market has loved sturdy progress owing to growing construction market in the areas corresponding to residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with current fireplace incidences and emergence of high rise buildings the need for superior fire safety systems have surged in the nation.
The newly constructed buildings or ongoing construction could be equipped with superior hearth security techniques, nevertheless, immense alternatives exist for the players in retrofit buildings phase which have conventional hearth safety methods.
In the year 2015, the market for hearth security methods in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real property spending and construction activities. Moreover, lots of the upcoming tasks had been put on maintain by the federal government to reduce back the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fireplace security market touched $577 million in 2015. The fireplace security market in Saudi Arabia is anticipated to stay risky until 2017, where progress can be recorded publish 2017 with the recovery of the oil costs coupled with government spending.
Unlike weksler ea14 , UAE, the second largest hearth safety market in GCC region registered positive growth due to rising development actions for the upcoming Dubai World Expo 2020. The event is prone to entice 25 million tourists, which is spurring the development in the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, authorities mandates are additional fueling the growth of the market in UAE.
In overall Saudi Arabia’s hearth security market, fire protection techniques have generated majority of the market revenues, wherein hearth extinguishers, fire suppression systems and hearth pumps & controllers have led the market progress.
Over the next six years, Saudi Arabia’s hearth security market would be driven by the federal government necessary rules and alternative of present fireplace security methods. Residential and industrial verticals could be the key verticals where main replacement markets exists.
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