Saudi Arabia has remained one of the most promising hearth safety markets in entire GCC region. In previous couple of years, the market has loved sturdy development owing to rising building market within the areas such as residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with latest hearth incidences and emergence of high rise buildings the need for superior fire safety methods have surged in the country.
The newly constructed buildings or ongoing development can be equipped with superior fireplace safety methods, nevertheless, immense alternatives exist for the gamers in retrofit buildings section which have conventional fireplace safety methods.
In the 12 months 2015, the market for fire safety systems in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real estate spending and building actions. Moreover, many of the upcoming tasks have been put on hold by the government to scale back the burden on the Saudi Arabia’s financial system.
According to Ensured , Saudi Arabia’s fireplace security market touched $577 million in 2015. Login required in Saudi Arabia is predicted to remain unstable till 2017, where growth could be recorded post 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fireplace security market in GCC region registered positive progress because of growing construction activities for the upcoming Dubai World Expo 2020. The event is more probably to entice 25 million vacationers, which is spurring the development in the areas of hospitality, public infrastructure, retail, leisure, and so forth. Also, authorities mandates are further fueling the growth of the market in UAE.
In overall Saudi Arabia’s fire safety market, hearth protection techniques have generated majority of the market revenues, wherein fireplace extinguishers, hearth suppression techniques and fire pumps & controllers have led the market progress.
Over the subsequent six years, Saudi Arabia’s hearth security market could be driven by the government obligatory regulations and alternative of existing fireplace security techniques. Residential and industrial verticals would be the key verticals the place main alternative markets exists.
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