Respiratory Protective Equipment Market 2024 Key Players ILC Dover, UVEX SAFETY GROUP | Headquarter, 3M
Inherently influenced by the rising number of regulatory initiatives undertaken by international entities like NIOSH, OSHA, and ILO, respiratory protective equipment market has witnessed remarkable proceeds over the past few years. Testament to the fact is the USD 5.5. billion valuation attained by the industry in 2016, which can be primarily credited to the escalating rate of occupational respiratory disorders.
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As per Health and Safety Executive, approximately 12000 causalities occur from occupational lung diseases worldwide every year, out of which two third of the fraction are succumbed due to asbestos-related diseases or COPD. Estimates further claim, approximately 18000 new cases of lung problems occur every year, primarily due to long duration of work in hazardous environment. These statistics are further backing the profitable road map traversed by respiratory protective equipment industry.
Another driving factor fueling the growth of respiratory protective equipment market is the rapid industrialization across major economies. The drift is quite commendable across Asia Pacific belt, where the infrastructural spending is expected to cover 60% of the global expenditure by 2025. Considering the strong pipeline of construction projects across countries like Japan, India, and China, APAC is claimed to be one of the most opportunistic avenues for respiratory protective equipment industry. As per estimates, APAC respiratory protective equipment market size is expected to witness a CAGR of 8% over 2017-2024.
Supplied air respiratory protective equipment market size was over USD 3.9 billion in 2016. The product is majorly used in harmful, contaminated and toxic environment which lacks cleaner air for breathing. This device delivers breathable air at nominal pressure through face mask, hood or visor.
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It is further categorized into self-contained breathing apparatus (SCBA) and airline respirators. SCBA are usually carried by the user in oxygen deficient atmospheres to escape to safety zone in case of emergency. For instance, firefighting professionals extensively utilize these equipment to rescue human life in emergency situations.
Medical & healthcare segment accounted for a significant market share and is likely to escalate at a CAGR of over 6.5% by 2024. Product is chiefly applicable in medical industry to provide oxygen through masks to the patient under critical health condition. In addition, surgical masks are used by medical practitioners to avoid contact with contaminants in the environment while treating patients. Other application segment is projected to rise at a CAGR close to 4.5% in the coming years. It includes personal protective respirators which are usually worn for protection against pollution, dust, contaminants, etc.
Respiratory protective equipment market size in Asia Pacific is anticipated to rise at a CAGR of more than 8% by 2024. This is primarily due to rapid development in the industrial sector and consistently improving standards to attain work place safety for professionals which will have a positive impact on the respiratory protective equipment market size by 2024.
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Some of the prominent respiratory protective equipment market share players are Honeywell International, Bullard, 3M, Delta Plus, Gerson, ILC Dover, Intech Safety, Alpha Pro Tech, Kimberley Clark and RSG Safety. Most of these players are making significant investment to expand its product portfolio to expand its presence in the industry.
For instance, in October 2014, Bullard launched its SparxLift Welding Helmet for supplied air. In July 2014, it also launched its personal cooling and warming devices for Spectrum Series full face supplied air respirator.
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