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Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the promising fireplace security markets in entire GCC region. In previous few years, the market has loved robust growth owing to growing building market within the areas corresponding to residential, retail, hospitality, public infrastructure, healthcare, and training. Also, with latest fireplace incidences and emergence of high rise buildings the need for advanced fireplace security techniques have surged in the nation.
The newly constructed buildings or ongoing building could be equipped with superior fireplace safety techniques, however, immense alternatives exist for the players in retrofit buildings section which have traditional fire safety systems.
In the 12 months 2015, the market for fire security methods in Saudi Arabia declined because of slumping oil costs, which affected infrastructure/real estate spending and construction activities. Moreover, many of the upcoming initiatives were placed on hold by the federal government to scale back the burden on the Saudi Arabia’s financial system.
According to digital pressure gauge , Saudi Arabia’s hearth safety market touched $577 million in 2015. The fireplace safety market in Saudi Arabia is expected to stay unstable until 2017, the place progress would be recorded post 2017 with the recovery of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest hearth security market in GCC area registered positive development because of growing development actions for the upcoming Dubai World Expo 2020. The occasion is likely to entice 25 million vacationers, which is spurring the construction in the areas of hospitality, public infrastructure, retail, entertainment, and so forth. Also, government mandates are additional fueling the expansion of the market in UAE.
In general Saudi Arabia’s fire safety market, fire safety methods have generated majority of the market revenues, whereby hearth extinguishers, fireplace suppression systems and fire pumps & controllers have led the market development.
Over the next six years, Saudi Arabia’s fireplace security market would be pushed by the federal government necessary regulations and alternative of present hearth safety methods. Residential and industrial verticals could be the important thing verticals where major substitute markets exists.
For more data, go to www.intersecexpo.com

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