Personal Protective Equipment (PPE) Market Future Scope, Demands and Projected Industry Growths to 2025
The Global Personal Protection Equipment Market was valued at US$ 42.32 billion in 2017 and is expected to expand at a CAGR of 4.74% in terms of revenue during 2017 – 2025.
Personal protective equipment are used by employees and workers from various core manufacturing industries and factories such as construction, automotive, and chemicals among others. PPE are provided to workers to protect them various unknown and known hazards which comes in various forms such as, falling objects, sharp edges, flying sparks, noise, chemicals and many other potentially perilous situations.
According to Occupational Safety and Health Administration (OSHA), in North America, the employers are required to protect their employees from workplace injuries and indigenous hazards. The personal protective equipment (PPE) are made mandatory to be worn so as to minimize exposure to hazards such as radiation, dusts, and chemicals among others.
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Amendments of Safety Requirements by the Government Bodies
This regulations and safety requirements by various organizations such as Occupational Safety and Health Administration (OSHA), National Fire Protection Association (NFPA), and National Institute for Occupational Safety and Health (NIOSH) has strained the manufacturers of PPE to produce according to the safety standards which are easy to use and are durable which fulfills the global requirements.
There are large amount of costs related to the non-compliance the health and safety measures which is likely to urge the end use industries to invest and follow the accords of the regulations and maintain the personal protective equipment inventory during every manufacturing process.
High Visibility Clothing
In order to reduce the number of accidents that occur between the pedestrians and the constructions sites or from industrial trucks has reduced by 13.2% in the United Sates due to usage of high-visibility clothing. Some of the commonly used garments are ANSI/ISEA 107-2015, Type O for off-road tracks, and ANSI/ISEA 107 Type R, Class 2 which helps to reduce entanglement issues felt from the vest.
The application of high visibility clothing could be observed highly in railroads, motorcyclist and other core industries such as chemical and automotive factories. The International Organization for Standardization (ISO) introduced ISO 20471 for high visibility clothing in 2013 under the North American Hunting regulations, for hunters to wear blaze orange to avoid misidentification of hunters as animals, which may result in accidents.
Construction is the largest end-use industry, followed by firefighting
The personal protection equipment is expected to gain major traction from the construction segment due high infrastructure spending in various regions such as North America and Middle East. In the United States, the net revenue generated from construction facilities are more than US$ 1.32 trillion in 2017, while Canada is expected to have a CAGR of 2.7% in the construction industry in 2022.
In the United States, in 2017, approximately 11.1 million people are employed in the construction sector coupled with various regulation on health and safety the personal protective equipment market is expected to grow fuelled by the construction segment. In the firefighting segment, the major products that are used are full body suit, gloves and hard helmets which are expected to gain major traction in the PPE market during the forecast period (2017-2025).
Europe, followed by North America, and Asia-pacific, respectively accounted for major share in the global personal protective equipment market both in terms of revenue and volume in 2017 and the trend is estimated to remain the same over the forecast period. In 2017, Europe held a market share of 33.3% in terms of value in the global personal protective equipment market.
This growth is expected to be seen during the forecast period due to rise in need for safety and protective gears by various industries in Europe such as metal manufacturing, oil & gas refining, and automotive. The number of people employed under manufacturing sector accounts to 15.6 million which is expected to boost the PPE market during the forecast period. According to HSE, of United Kingdom the various initiatives taken by government on the use of PPE are:-
To ensure that workplaces meet the health, safety and welfare needs of each member of the workforce, which may include people with disabilities.
The work sites should be provided with sanitary conveniences, washing facilities, drinking water, clothing accommodation, changing facilities and facilities for rest and eating meals.
This in turn has is making Europe for the largest market of personal protection equipment over the following years. Moreover, North America is estimated to be the second largest market for global personal protection equipment in 2017.
This is due to the government regulations being imposed on construction and manufacturing unit. Owing to this, the Government of California has passed a bill to mandate the use of PPE in construction industries, in 2017.
Global Market Leaders:
Major players in the global personal protection equipment market include 3M, DuPont, Ansell, MSA Safety, Alpha Pro Tech Ltd., and Lindstrom among others.
This report segments the global personal protective equipment market on the basis of product types and end use industry. On the basis of product types, the market is segmented as foot protection, eye protection, gloves, protective hearing devices, hard hats, full body suits, respirators, and others.
On the basis of end-use industry, the global personal protective equipment market is segmented into construction, oil & gas, healthcare, transportation, firefighting, and others. Moreover, eye protection is the largest product segment, accounting for over 39.2% share of the global personal protective equipment market in 2017, while, full body suits is projected to be the fastest growing product segment and expected to grow at a CAGR of 6.84% in terms of revenue during the forecasted period.
Key features of the study:
This report provides a detailed analysis of the global personal protective equipment market that includes market size (US$ Billion), and CAGR (%) for the forecast period (2018 – 2025). The year 2017 is considered as the base year.
This study offers detailed potential revenue opportunity analysis for different segments.
This study also includes market drivers, restraints, opportunities, regulatory scenario, regional outlook, new product launches, mergers and acquisitions, and competitive strategy adopted by the leading players
It profiles leading players in the global personal protective equipment market based on the following considerations – company overview, financial performance, product portfolio, geographical presence, strategies, key developments, and future plans
Insights from this report would help the management to take informed decisions with respect to their market expansion, product launches, technology up gradation, and other key strategies
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The global personal protective equipment market report caters to different stakeholders that includes raw material manufacturers, investors, distributors, end-users, product manufacturers, new entrants, and financial analysts.
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