Escape Descent Device Market Size, Share, Growth, and Industry Analysis, By Type (Automatic, Semi-Automatic, Manual and Others), By Application (Chemical, Construction, Public Utilities and Others), Regional Forecast To 2031

Updated On: 15 April 2024

Escape Descent Device Market REPORT OVERVIEW

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The global escape descent device market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

An emergency escape descent device is a life-saving device used to escape a dangerous environment such as a fire, smoke, poisonous gases, biological threats, or harmful industrial or maritime situations. With a device usage time of up to 15 minutes, the device is typically employed for rapid escape from a situation in which the individual must quickly quit his immediate surroundings. EEBDs are ideal for applications such as restricted areas, maritime, industrial and oil and gas. It is easy to use because it is designed to generate airflow automatically as soon as the bag is opened.

COVID-19 Impact: The Pandemic Caused Underlying Malady Downsized the Market Share

We can all see how the COVID-19 outbreak has caused a slew of unexpected and substantial changes in every industry, whether it is automotive, hospitality, aviation, retail, or any other. Unemployment rates rise when an economy gets less stable. Additionally, COVID-19 is responsible for the current global high unemployment rate. Setbacks and forced lockdowns prohibiting people from remaining at home will have a negative impact on the growth of the escape descent device market. The situation is as follows, with the pandemic having a negative impact on the escape descent devices market share.

LATEST TRENDS

"Rapid Technological Advancements and Product Innovations to Bolster the Market Sales"

The market for emergency escape breathing equipment has gained traction over the world as a result of rapid technical breakthroughs and product innovations. Furthermore, the market is expected to be driven by rising demand for enhanced safety systems in industries such as marine, oil and gas, hospitals and labs, and so on in the future years. Growing concerns about the installation of safety equipment on ships, safety compliance, crew safety training, the most recent safety regulations, and proper training for crew and marine officials will have an impact on the enhancement of safety measures taken on ships, propelling the market growth of emergency escape breathing devices even further.

Escape Descent Device Market SEGMENTATION

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• By Type

Based on type the escape descent device market is classified as automatic, semi-automatic, manual and others.

• By Application

Based on application the escape descent device market is classified as Chemical, Construction, Public Utilities and others.

DRIVING FACTORS

"The Automatic Segment Holding a Significant Share to Drive the Market Share"

Automated evacuation and emergency escape systems demand the least amount of training and information from the user. The escape descent device and system are totally autonomous and do not require electricity. Individuals can activate automatic control of the descent using user or coworker operated devices for additional pliability.

"The Airway Management Devices to Witness a Healthy Growth and Inflate the Market Share"

Airway management devices are expected to develop in the future as the prevalence of chronic obstructive pulmonary disease (COPD) rises, as do the occurrences of asthma and bronchitis. Endotracheal tubes, tracheostomy tubes, ventilators, and resuscitators are examples of airway management devices that are employed in the therapy of the targeted disorders, hence boosting segment growth. According to the World Health Organization's 2017 Global Burden of Diseases study, there were approximately 251 million cases with COPD worldwide in 2016. The presence of a wide number of targeted diseases all around the world will fuel segment growth in the following year.

RESTRAINING FACTORS

"High Initial Cost and No Fixed Lifespan to Act as Barrier for the New Entrants and Market Players"

The need for a significant initial investment could hamper the industry's overall development. There is no set lifespan as long as the Evacuator® passes a trained technician's inspection. Because they make it more difficult for new market participants to enter, these upfront fees hinder market expansion. Businesses in less developed nations would be unable to purchase and install such systems due to their exorbitant cost. This is a substantial obstacle for ambitious escape device entrepreneurs, and it may have a negative impact on the growth of the escape descent device business. Concerns over high initial cost and lifespan to hinder the growth of the global escape descent device market share.

Escape Descent Device Market REGIONAL INSIGHTS

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"North American region to Lead With Diversified Marketplace and Product Innovations"

In terms of value and volume, North America is the largest market for escape descent device, followed by Europe. Demand from North America is predicted to increase due to rising auto manufacturing volumes and increased R&D investments (R&D). The increased prevalence of cardiac and respiratory ailments, an ageing population, the presence of a large number of medical device businesses, rising R&D expenditure, product developments, and technological advancements are all expected to drive the escape descent device market share higher. COPD is the third leading cause of death in the United States, according to the American Lung Cancer Society, with around 15 million people diagnosed in 2018. The United States controls the largest proportion of the North American Resuscitation Devices Market. Additionally, this region's well-established healthcare infrastructure and rising healthcare expenditure are likely to drive the Resuscitation Devices Market. These factors are also propelling the region's escape descent device market growth.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

The presence of key vendors such as Drager, 3M Scott Safety, MSA, Honeywell, and many others around the world are constantly expanding their product portfolio and introducing several safety features such as enhanced support for vessels and ships in emergency and daily operations, which is backed by supportive government regulations, is escalating market demand for emergency escape descent device. The research contains in-depth examination of firm characteristics, growth insights, the supply-demand chain, production and consumption demand, and business expansion methods employed by major key players. The data is a compilation of the most recent technological breakthroughs, trends, production lines mergers and acquisitions, market research, and other elements.

List of Market Players Profiled

• Donut Safety Systems (U.K)
• Mode China (China)
• 3M (Canada)
• Zhean Group Co., Ltd. (China)
• RIDE Inc (U.S.A)
• Sterling (U.S.A)
• Peakworks (U.S.A)
• Honeywell (U.S.A)
• JOMY (Belgium)
• Sky Genie (U.K)
• Shandong Security & Rescue Equipment Manufacturing Co., Ltd (China)
• Ark Safety (India)
• Fall Protection (U.S.A)
• Jiangshan Anbao Firefighting Equipment Co.,Ltd. (China).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players,  recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.