Press release
Industrial Fall Protection Equipment Market to Generate a Huge Demand by 2024 | Honeywell, MSA - The Safety Company, SKYLOTEC GmbH, Guardian Industries, 3M
Industrial Fall Protection Equipment Market
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Industrial Fall Protection Equipment Market may exceed USD 3.5 billion by 2024; according to a new research report.
Increasing government regulations and standards regarding worker safety in industries such as mining, energy, utility and construction may accelerate industry growth. These regulations require employers to provide equipment's for protection from floor holes, runways, platforms and dangerous machines. These products help prevent falls, trips and slips on slippery surfaces preventing minor injuries and fatalities, thus boosting industrial fall protection equipment market growth.
Market Regional Growth Drivers: --
North America: --
1. Increasing workplace injuries
2. Favorable regulations for occupational safety
Europe: --
1. Adoption of fall protection standards
2. Increasing fatalities rate and growing on-site training in various industries
Asia Pacific: --
1. Growth in the construction industry
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Global industrial fall protection equipment market share is consolidated among few manufacturers such as MSA Safety Company, 3M, Capital Safety and Honeywell. Other manufacturers include French Creek production, Mallcom Pure Safety Group and Udyogi. Prominent industry participants are primarily focusing on new product development to improve product offerings and strategic acquisitions to expand their product portfolio.
Body belts for industrial fall protection equipment market should surpass USD 360 million by 2024 owing to increasing government investments in infrastructure facilities. These products prevent drop from elevated platforms, ensure proper worker positioning, and work in combination with full body harnesses. Also, they provide comfort and are resistant to harsh environment, chemicals & moisture, which may further stimulate industry growth.
Industrial fall protection equipment market from oil & gas applications should witness gains close to 7% in the predicted period primarily owing to rising energy demand and favorable government initiatives to promote investments. These products withstand harsh conditions such as fire, contamination and rain, along with ensuring worker safety during pipe positioning, maintenance, tear down, or rig setup operations. The oil & gas industry has a high potential for injuries during operations in confined spaces such as reserve pits, storage tanks, excavated areas, mud pits and hooped ladders which may further boost industrial fall protection equipment market growth.
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