Emergency escape equipment are developed to assist individuals to escape quickly and safely at the time of fire or any other emergency. Emergency escape equipment includes fire safety signs, lighting signs, emergency signs to escape, and emergency evacuation equipment. Emergency escape equipment comprises different products such as fire escape ladders, evacuation chairs, evacuation stretchers & sheets, breathing devices, emergency megaphones, emergency torches, emergency blankets, and fall arrest equipment. Emergency escape equipment are used to reduce exposure to fire and other consequences such as fall from a building.
The emergency escape equipment market is booming due to concerns about workplace safety, especially in areas where chances of fire or other emergencies are higher. Global financial strength of industries has improved with robust industrialization, which has led to speedy expansion of several industries such as manufacturing, chemicals, oil & gas, food, and so on. In addition, companies have become more cautious about the safety of their employees and workplaces which has accelerated the growth of the emergency escape equipment market. Hence, growing awareness about occupational safety and health has helped to drive the market share of companies dealing in emergency escape equipment. Companies are coming up with proper safety guidelines and safety measures in order to safeguard their employees and prevent fatal injuries. With increasing number of air passengers, the emergency escape equipment market is booming due to the increased demand for various equipment such as lighting signs and emergency ladders. International organizations such as NFPA, OSHA, and NIOSH have laid down regulations and guidelines related to occupational health and safety of workers and employees, which obliges companies to follow rules and regulations, consequently driving the emergency escape equipment market.
Demand for emergency escape equipment is increasing due to rise in number of fatal accidents and injuries at workplaces. Moreover, medium and large scale companies are drivers of the market as they have become vigilant and stringent in terms of safety of workers and employees. However, the emergency escape equipment market is anticipated to have limited sales due to a limited user base. In addition, concerns about quality of raw material, product, and high prices has led to uncertain demand for emergency escape equipment. Further, the usage of emergency escape equipment is limited to specific industries which might negatively affect the growth of the market.
The emergency escape equipment market can be segmented in terms of product, end-users, and geography. In terms of product, the market is classified into fire escape ladders, evacuation chairs, evacuation stretchers & sheets, breathing devices, emergency megaphones, emergency torches, emergency blankets, and fall arrest equipment. On the basis of end-users, the market is bifurcated into different industries such as automotive, mining, oil and gas, pharmaceuticals idustry, construction, healthcare, and steel and metal fabrication.
In terms of geography, the emergency escape equipment market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Increase in consumer spending and rise in construction activities in developing countries such as China, Brazil, and India is boosting the growth of the emergency escape equipment market. North America, especially the United States, is dominating the emergency escape equipment market.
The emergency escape equipment market is highly fragmented. Further, cut throat competition has forced manufactures of emergency escape equipment to provide better products in terms of quality at competitive costs. Key players operating in the emergency escape equipment market are Ansell Protective Solutions, Honeywell International, Inc., 3M, Gentex Corporation, and United Technologies Corporation.
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