Saudi Arabia has remained some of the promising hearth safety markets in complete GCC region. In previous couple of years, the market has enjoyed sturdy progress owing to rising construction market in the areas such as residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with recent fireplace incidences and emergence of excessive rise buildings the necessity for advanced hearth safety systems have surged in the country.
The newly constructed buildings or ongoing building can be outfitted with advanced hearth security techniques, nonetheless, immense opportunities exist for the gamers in retrofit buildings phase which have traditional fireplace safety methods.
In the 12 months 2015, the market for fireplace security methods in Saudi Arabia declined because of slumping oil prices, which affected infrastructure/real property spending and development actions. Moreover, many of the upcoming projects were put on maintain by the government to scale back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s hearth safety market touched $577 million in 2015. The fireplace security market in Saudi Arabia is predicted to remain unstable till 2017, the place progress could be recorded submit 2017 with the restoration of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered positive progress because of growing building actions for the upcoming Dubai World Expo 2020. The occasion is prone to appeal to 25 million vacationers, which is spurring the construction in the areas of hospitality, public infrastructure, retail, leisure, and so on. Also, government mandates are additional fueling the growth of the market in UAE.
In diaphragm seal , hearth protection systems have generated majority of the market revenues, whereby fire extinguishers, fire suppression techniques and fire pumps & controllers have led the market growth.
Over the following six years, Saudi Arabia’s fireplace security market could be driven by the federal government obligatory regulations and alternative of existing hearth safety methods. Residential and industrial verticals could be the key verticals where major alternative markets exists.
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