Emergency Escape Equipment Market: Introduction
Emergency escape equipment are developed to assist individuals to escape quickly and safely during a fire or any other emergency. Emergency escape equipment consists of rescue rings, ropes, extracting boards, and stretchers. Emergency Escape Breathing Devices (EEBDs) are self-contained compressed air apparatus that provides breathable oxygen to users. For unconscious divers, a forced ventilation system is used. Emergency escape equipment should be located in easily accessible areas and within a reasonable distance from the source of hazards. Such locations should be sign-posted, including directions from areas where they cannot be seen. Having this equipment will help prevent an injury and control the emergency if it presents itself.
Key Drivers of the Emergency Escape Equipment Market
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.
Video Image Smoke Detectors Creating Opportunities in the Emergency Escape Equipment Market
Although conventional smoke detectors are helpful in preventing fire deaths and also in reducing damage to property, there are some situations that require more advanced technology. Video image smoke detectors use video cameras in combination with remote computers running analytic software to know the presence of smoke and/or flame. These systems are particularly applicable in large open spaces with high ceilings where smoke could take long to reach a conventional alarm, delaying any firefighting response. Examples of spaces where a video image smoke detector may be appropriate include oil rigs and fields, mines, factories, and warehouses. Such new innovations bring opportunities for the product in the market.
High Maintenance Cost a Restraint of the Emergency Escape Equipment Market
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 have 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.
North America the dominant region
The U.S and Canada are the largest markets for emergency escape equipment. North America, especially the United States, dominates the emergency escape equipment market due to rapid expansion of several industries such as manufacturing, chemicals, oil & gas, food, and so on.
Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the major companies identified in the emergency escape equipment market are:
- Ansell Protective Solutions
- Honeywell International, Inc.
- Gentex Corporation
- United Technologies Corporation
Emergency Escape Equipment Market: Research Scope
Emergency Escape Equipment Market, by Type
- Emergency lighting
- Site lighting
- Fire escape ladders
- Evacuation chairs
- Emergency megaphones
- Emergency blankets
Emergency Escape Equipment Market, by End-use
- Mining, oil & gas
- Pharmaceuticals industry
- Steel and metal fabrication
Emergency Escape Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the emergency escape equipment market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.