Earplug Market Growth and Forecast to 2027 | Top Companies are 3M Company, McKeon Products, Protect Ear USA Westone Laboratories, Moldex-Metric

Rising incidences of the noise induced hearing loss across the industries, has raised the concern among the global government authorities regarding the health of the young population. OSHA is a global agency that regulates occupation health and safety for the workers. According to OSHA, 22 Mn workers globally are daily exposed to potentially damaging noise at work. To avoid these incidences, the government has also levied penalties for the industries and organizations that do not follow the stated regulations. In the year 2016, companies in U.S had paid more than US$ 1.5 Mn of penalty for not protecting their workers from noise, whereas US$ 242 Mn was spent till date on the compensation for hearing loss disability. The rising strictness by the OSHA for amendment of rules and regulations is expected to drive the adoption of hearing protection equipment, particularly earplugs globally, which is anticipated to catalyze the growth of earplug market.

The global earplug market accounted for US$ 612.5 Mn in 2017 and is expected to grow at a CAGR of 10.4% during the forecast period 2018 – 2025, to account for US$ 1331.6 Mn in 2025.

Leading Key Market Players:- 3M Company, McKeon Products, Inc., Protect Ear USA Westone Laboratories, Moldex-Metric, McCordick Glove & Safety, Honeywell International Inc., Dynamic Ear Company, UVEX Winter Holding GmbH & Co. KG, and Liberty Glove & Safety Inc.

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Key findings the study:
• From a growth perspective Japan in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 15.7% during the forecast period
• Manufacturing segment accounted for the largest market share in 2017, and the same is anticipated to be the fastest growing segment in earplug market during the forecast period.
• Noise reduction in the application segment dominated the earplug market in 2017, and also is expected to create lucrative business opportunities
• Foam earplug segment is the most prominent type of end user, however, the silicon segment is anticipated to drive the businesses of market players operating in earplug market.

The global manufacturing sector has undergone a dramatic change in last decade, where the large developing economies have leaped to be among the top and preferable manufacturing destinations. Although the industry had suffered through severe recession leading to off demand, coupled with great fall in manufacturing employment in advanced economies, the industry pertained to remain critically important to both the advanced as well as developing countries. Further as the requirement for hearing protection remained amongst the high priorities in the industry, thus boosting the growth of earplug market in the coming years. The manufacturing sector at the same time also registers itself for one of the largest amount of penalties paid and for citations. The rising influence of OSHA for hearing conservations in the manufacturing industries is expected to impact positively on the businesses of manufacturers operating in earplug market.

Earplug Market is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2020 – 2027, considering 2020 as the base year and 2020 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.

This Report Contains:
• Market sizing for the global Earplug.
• Compare major Earplug providers strategies and approaches to the challenges they face
• Analysis of the effects deglobalisation trends may have for Earplug providers
• Profiles of major Earplug providers
• 7-year CAGR forecasts for Earplug -intensive vertical sectors

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This release was published on openPR.