Saudi Arabia has remained one of the most promising hearth security markets in complete GCC area. In last few years, the market has enjoyed strong progress owing to rising development market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with recent hearth incidences and emergence of excessive rise buildings the need for advanced fireplace security techniques have surged in the country.
The newly constructed buildings or ongoing development could be geared up with advanced hearth safety systems, however, immense opportunities exist for the players in retrofit buildings section which have conventional fireplace security systems.
In the 12 months 2015, the market for fire safety techniques in Saudi Arabia declined as a end result of slumping oil costs, which affected infrastructure/real estate spending and construction activities. Moreover, many of the upcoming projects were placed on maintain by the federal government to minimize back the burden on the Saudi Arabia’s financial system.
According to 6Wresearch, Saudi Arabia’s fire security market touched $577 million in 2015. The hearth security market in Saudi Arabia is predicted to stay volatile till 2017, the place growth could be recorded submit 2017 with the recovery of the oil costs coupled with government spending.
Unlike Saudi Arabia, UAE, the second largest fireplace security market in GCC region registered constructive growth due to rising construction activities for the upcoming Dubai World Expo 2020. The occasion is likely to appeal to 25 million tourists, which is spurring the development within the areas of hospitality, public infrastructure, retail, leisure, and so on. Also, authorities mandates are additional fueling the expansion of the market in UAE.
In total Saudi Arabia’s hearth security market, hearth protection systems have generated majority of the market revenues, whereby fire extinguishers, fireplace suppression methods and hearth pumps & controllers have led the market development.
Over the following six years, Saudi Arabia’s hearth security market can be pushed by the federal government mandatory regulations and alternative of current fire security methods. เกจวัดความดันpressuregauge and industrial verticals could be the necessary thing verticals the place major substitute markets exists.
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