Saudi Arabia has remained one of the promising hearth security markets in entire GCC region. In previous couple of years, the market has loved strong development owing to growing development market in 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 safety techniques have surged in the nation.
The newly constructed buildings or ongoing development can be outfitted with advanced fireplace safety systems, however, immense alternatives exist for the players in retrofit buildings phase which have conventional hearth security methods.
In the yr 2015, the marketplace for fireplace security methods in Saudi Arabia declined as a result of slumping oil prices, which affected infrastructure/real estate spending and building actions. Moreover, most of the upcoming projects were placed on maintain by the federal government to cut back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s hearth safety market touched $577 million in 2015. The fire safety market in Saudi Arabia is predicted to stay unstable until 2017, the place development would be recorded submit 2017 with the restoration of the oil costs coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire safety market in GCC region registered positive progress because of growing building activities for the upcoming Dubai World Expo 2020. The event is more doubtless to appeal to 25 million tourists, which is spurring the development within the areas of hospitality, public infrastructure, retail, entertainment, and so forth. Also, authorities mandates are further fueling the expansion of the market in UAE.
In overall Saudi Arabia’s fire safety market, hearth safety techniques have generated majority of the market revenues, wherein hearth extinguishers, fireplace suppression techniques and fire pumps & controllers have led the market progress.
Over the subsequent six years, Saudi Arabia’s fireplace safety market can be driven by the government mandatory regulations and substitute of present hearth security methods. Residential and industrial verticals would be the key verticals the place main substitute markets exists.
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