The building and construction industry is growing due to rapidly increasing population & growth in urbanization. The growing construction industry has escalated the panic exit devices market. Changing government regulations & growing awareness about public safety have led to the installation of panic exit systems along with safety systems in institutional, residential, commercial & industrial buildings owing to which there is increasing demand for panic exit devices in the market.
Rockville, WA -- (SBWIRE) -- 09/24/2018 -- Panic exit devices are used to provide exits from buildings during or in case of accidents or disastrous situations. Panic exit devices serve the dual purpose of safety and security. Panic exit devices are generally classified into two types -- push & touch. Panic exit devices are used to provide sufficient evacuation space & different types of solutions in case of accident or emergency situations. Panic exit devices are widely used in public or institutional buildings, such as schools, theaters, multiplexes, museums, auditoriums, etc. Panic exit devices are generally used where the number of people is more than fifty. Panic exit devices are manufactured from different materials, such as aluminum, stainless steel, PVC, etc. Panic exit devices' length covers up the width of the door due to which it becomes easy for individuals to access the door, which gives people immediate escape during emergency or accidental situations. Certain panic exit devices are fire rated by authorities, such as ANSI & ADA. Panic exit devices are used on either the interior or exterior side of the door. Special types of panic exit devices are manufactured for physically challenged people, these devices can be easily operated by handicapped people.
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Panic Exit Devices Market: Dynamics
The building and construction industry is growing due to rapidly increasing population & growth in urbanization. The growing construction industry has escalated the panic exit devices market. Changing government regulations & growing awareness about public safety have led to the installation of panic exit systems along with safety systems in institutional, residential, commercial & industrial buildings owing to which there is increasing demand for panic exit devices in the market. Growing public transportation has also led to growing demand for public safety due to increase in the number of accidents due to which growth in demand for panic exit devices from automotive & aerospace industry is being witnessed. However, the high price of panic exit devices might decline the growth of the panic exit devices market.
Panic Exit Devices Market: Regional Outlook
Growing population and urbanization in regions of Asia Pacific and Latin America have led to the growth of the construction industry in these regions and government inclination towards safety system installations has made Asia Pacific and Latin America promising markets for panic exit devices. However, the high cost of panic exit devices might hinder the market in developing countries of these regions. Japan is a calamity prone country. There is always unpredicted possibility of calamities, such as earthquake, due to which Japan is highly focused on the use of panic exit devices. Countries in Middle East are focused on the development of their infrastructure. Along with it, the building & construction industry is also blooming in regions of Africa. Due to the above mentioned factors, Middle East and Africa are anticipated to be good markets for panic exit devices. Despite being matured markets, infrastructural developments and launching of new government projects will make North America and Europe potential markets for panic exit devices.
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