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Saudi Arabia has remained one of the promising hearth safety markets in complete GCC region. In last few years, the market has enjoyed sturdy growth owing to growing building market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and schooling. Also, with current fireplace incidences and emergence of excessive rise buildings the need for advanced hearth security techniques have surged in the nation.
The newly constructed buildings or ongoing building could be equipped with advanced fire safety systems, nevertheless, immense alternatives exist for the gamers in retrofit buildings segment which have traditional fire safety techniques.
In the year 2015, the marketplace for fireplace safety systems in Saudi Arabia declined due to slumping oil costs, which affected infrastructure/real property spending and development activities. Moreover, most of the upcoming projects had been put on maintain by the government to reduce back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fireplace safety market touched $577 million in 2015. The fireplace safety market in Saudi Arabia is anticipated to stay risky until 2017, the place progress would be recorded submit 2017 with the recovery of the oil costs coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered optimistic progress because of rising development activities for the upcoming Dubai World Expo 2020. The event is likely to entice 25 million tourists, which is spurring the development within the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, authorities mandates are additional fueling the growth of the market in UAE.
In general Saudi Arabia’s fire security market, fire safety systems have generated majority of the market revenues, wherein hearth extinguishers, fire suppression systems and fire pumps & controllers have led the market progress.
Over เกจอาร์กอน following six years, Saudi Arabia’s hearth security market would be driven by the federal government obligatory regulations and replacement of existing fire safety methods. Residential and industrial verticals would be the key verticals the place major replacement markets exists.
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