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Hands-On Growth: Hand Protection Equipment Market Set to Reach $51.34B by 2028 at 9.8% CAGR || Top Glove Corporation Bhd, Hartalega Holdings Berhad, Honeywell International Inc
Hand Protection Equipment Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the hand protection equipment industry. This report on hand protection equipment market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The global Hand Protection Equipment market is expected to grow from $243.40 billion in 2022 to $265.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The Hand Protection Equipment market is expected to reach $360.89 billion in 2027 at a CAGR of 8.0%.
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Key Market Players:
Top Glove Corporation Bhd, Hartalega Holdings Berhad, Honeywell International Inc., 3M Company, Alpha Pro Tech Ltd are prominent players in the hand protection equipment industry.
Market Drivers:
According to the Hand Protection Equipment Market Report 2023 by The Business Research Company, the key factors driving the growth of the hand protection equipment market, includes the increasing awareness about the safety and health measures. The proper use of safety measures prevents and reduces the variety of health, hands, and arms hazards that are exposed during the operational work. The stringent company policy and government regulation towards the safety and health of employees are safeguarded to eliminate workplace risks at the source, through technical or organizational means. For instance, in July 2023, according to National Irish Safety Organization (NISO), an Ireland-based voluntary body dedicated to the promotion of health and safety, launched has launched a free short on-line course, on chemical safety in the workplace on its e-learning. This e-learning is launched guided by Health and Safety Authority (HSA).
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Market segments for hand protection equipment include:
1) By Hand Protection: Durable Gloves, Disposable Gloves
2) By Material Type: Natural Rubber Gloves/Latex, Nitrile Gloves, Vinyl Gloves, Other Material Types
3) By End-User Industry: Healthcare, Industrial Safety & Chemical, Construction, Automotive, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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