Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the promising fire safety markets in whole GCC area. In last few years, the market has enjoyed strong development owing to rising construction market in the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with latest fire incidences and emergence of high rise buildings the necessity for superior fire security methods have surged within the country.
The newly constructed buildings or ongoing development would be equipped with advanced fireplace safety methods, however, immense opportunities exist for the players in retrofit buildings section which have conventional fire safety methods.
In the 12 months 2015, the marketplace for hearth security techniques in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real estate spending and construction activities. Moreover, most of the upcoming initiatives had been placed on maintain by the federal government to minimize back the burden on the Saudi Arabia’s financial system.
According to เกจวัดแรงดันแก๊สอาร์กอน , Saudi Arabia’s fire safety market touched $577 million in 2015. The fire safety market in Saudi Arabia is predicted to remain risky till 2017, where growth can be recorded publish 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire security market in GCC area registered optimistic progress because of rising construction activities for the upcoming Dubai World Expo 2020. The occasion is likely to appeal to 25 million tourists, which is spurring the construction in the areas of hospitality, public infrastructure, retail, leisure, and so on. Also, government mandates are additional fueling the growth of the market in UAE.
In general Saudi Arabia’s fire safety market, fireplace protection techniques have generated majority of the market revenues, whereby hearth extinguishers, fireplace suppression methods and hearth pumps & controllers have led the market growth.
Over the next six years, Saudi Arabia’s hearth safety market could be driven by the government obligatory laws and alternative of existing fireplace security methods. Residential and industrial verticals can be the important thing verticals the place major substitute markets exists.
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