Saudi Arabia has remained one of the most promising fire security markets in entire GCC region. In last few years, the market has loved strong development owing to rising development market within the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with recent hearth incidences and emergence of high rise buildings the need for superior hearth safety systems have surged within the country.
The newly constructed buildings or ongoing building could be equipped with advanced fireplace security methods, however, immense alternatives exist for the players in retrofit buildings segment which have conventional hearth security systems.
In the yr 2015, the market for hearth safety techniques in Saudi Arabia declined as a end result of slumping oil prices, which affected infrastructure/real property spending and construction activities. Moreover, most of the upcoming initiatives have been placed on maintain by the government to reduce the burden on the Saudi Arabia’s economic system.
According to 6Wresearch, Saudi Arabia’s fireplace safety market touched $577 million in 2015. The hearth safety market in Saudi Arabia is predicted to stay risky till 2017, where progress would be recorded publish 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire safety market in GCC region registered optimistic progress due to growing development activities for the upcoming Dubai World Expo 2020. The occasion is likely to appeal to 25 million tourists, which is spurring the construction within the areas of hospitality, public infrastructure, retail, leisure, etc. Also, government mandates are additional fueling the growth of the market in UAE.
In เกจ์วัดแก๊สหุงต้ม , hearth protection systems have generated majority of the market revenues, whereby fire extinguishers, hearth suppression systems and hearth pumps & controllers have led the market development.
Over the subsequent six years, Saudi Arabia’s hearth security market can be pushed by the government obligatory regulations and alternative of existing hearth security methods. Residential and industrial verticals would be the key verticals where major substitute markets exists.
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