Hose reels are a fire safety equipment consisting of a reel wound with a hose. This equipment is designed and used as a quick-response method to fight a fire that covers large areas and is associated with high risk. The rising number of fire accidents in recent years have led to an increase in the demand for fire safety equipment globally. The increase in the number of these accidents has further compelled the government across various economies to take stringent action and implement stricter norms and regulations regarding building safety codes. This is another key factor anticipated to drive the growth of the market.
COVID-19 Impact Analysis: Fire and Safety Equipment Market
The outbreak of the Covid19 that started in China last year has a significant impact on the fire and safety equipment industry. The drastic action such as the government's lockdowns and social distancing measures across the world to stop the impending catastrophe. These actions dramatically impacted the economy, as the industrialists across the globe were forced to halt their production, leading to supply chain disruptions and impairing various industries. Thus, plummeting the global markets.
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Currently, the fire and safety equipment industry is grappling with hurdles, which have led to a sharp decline in the revenue generation in this industry. This is majorly due to the disruption in the supply chain and the demand side destruction. Owing to this, the manufacturers engaged in the business are focusing on reshaping their business models. Further, they are actively monitoring and prioritizing the health and safety of their employees by actively implementing government guidance and increasing cleanliness protocols and social distancing at their production facilities. Besides, amid the crisis, these manufacturers have adopted some changes in their manufacturing strategies. They are now centering on the production of core segments and have further reduced the production of all non-essential components and increased the deployment of digital tools to stay connected remotely.
Hose Reels Market: Key Players
Hose Reels Market: Segmentation
By Distribution Channel
Central and South America and the Caribbean
The Middle East
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