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Fall Protection Equipment Market Share, Trends, Size, Major Players And Forecast To 2033
Fall Protection Equipment Market
As per the report, the fall protection equipment market size has grown strongly in recent years. It will grow from $3.12 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The fall protection equipment market size is expected to see strong growth in the next few years. It will grow to $4.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
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Construction Boom Propels Growth In Fall Protection Equipment Market
Rising construction and renovation activities are expected to boost the growth of the fall protection equipment market going forward. Construction is the process of building, altering, improving, repairing, remodeling, or demolishing an infrastructure facility. The construction industry in general is struggling with an extensive number of accidents and a high fatality rate. Fall protection and prevention systems are crucial for worker security, particularly in the construction sector. It is the employer's responsibility to avoid falls in the construction sector. The surge in construction and renovation activities is driving the fall protection equipment market. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the annual construction sector rose by a record 12.7% in 2021 compared to the previous year. In December 2021, the volume of monthly construction output climbed by 2.0%; this was entirely due to a rise in new work (3.5%). In addition to the monthly rise, the construction industry's quarterly production climbed by 1.0% in Q4 2021 compared to Q3. This increase was driven by both new work (1.1%) and repair and maintenance (0.8%). Therefore, the rising construction and renovation activities are driving the growth of the fall protection equipment market.
Innovative Advancements In The Fall Protection Equipment Market
Major companies operating in the fall protection equipment market are developing innovative products such as self-retracting lifelines to meet larger customer bases, more sales, and increase revenue. A self-retracting lifeline (SRL) refers to a safety device used in fall protection systems to prevent or arrest falls from heights. For instance, in January 2023, Guardian, a US-based height safety specialist, launched fall protection products consisting of a new customization station, self-retracting lifelines, anchor additions, and the B7 comfort harness. The innovative online tool for product customization and request processing empowers customers to personalize full-body harnesses for workers, incorporating their company's colors and logo. This customization not only supports branding but also enhances safety, visibility, and control on job sites. Guardian's self-retracting lifelines (SRLs) surpass forthcoming compliance standards with features such as increased static and dynamic strength, thicker cables, and robust shock packs. Additionally, three new anchor products expand Guardian's height safety offerings. The B7-Comfort Harness, born from over a year of end-user research and trials, boasts patented features, a heavy-duty industrial design, precision adjustment, breathable padding, and 360-degree hip mobility hardware, making it exceptionally suitable for demanding conditions.
The fall protection equipment market covered in this report is segmented -
1) By Type: Soft Goods, Hard Goods, Rescue Kits, Body Belts, Full Body Harness, Other Types
2) By Product: Anchors And Connectors, Bodywear, Devices, Other Products
3) By End-Use Industry: Construction, Telecom, Energy And Utility, Transportation, Mining, Marine, Other End-Use Industries
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Major companies operating in the fall protection equipment market report are MSA Safety Company, Honeywell International Inc., 3M Company, Pure Safety Group (PSD), Gf Protection Canada Inc, SKYLOTEC GmbH, Guardian Industries, FallTech, Frenchcreek Production Inc., ABS Safety GmbH, Werner Co., Karam Industries, Eurosafe Solutions, Capital Safety, Carl Stahl GmbH, Kee Safety Inc., Alpha Pro Tech Ltd., Bergman & Beving AB, UltraSafe, Gravitec System., Hi-Rise Access, Sellstrom Manufacturing Company, ELK River Inc., Cofra S.R.L, P&P Safety Ltd, Swelock Asia Co. Ltd., Safetylink Pty Ltd., Safe Approach Inc., W.W. Grainger Inc., Malta Dynamics LLC, Petzel Group, Buckingham Manufacturing Co Inc., Rigid Lifelines Inc., Frontline Fall Protection
Contents of the report:
1. Executive Summary
2. Fall Protection Equipment Market Report Structure
3. Fall Protection Equipment Market Trends And Strategies
4. Fall Protection Equipment Market - Macro Economic Scenario
5. Fall Protection Equipment Market Size And Growth
…..
27. Fall Protection Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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