Press release
Personal protective equipment (PPE) market growth trends, Size & Forecast, 2023
Global Personal Protective Equipment Market size is projected to contribute $67.68 billion by 2023 and is projected to record 7.31% CAGR. Strong consciousness level about employee health & safety coupled with enhanced rate of fatalities in industries, specifically across unregulated industries owing to protective gear unavailability is anticipated to promote personal protective equipment (PPE) industry trends during forecast timeline.
Technological breakthroughs concentrating on low cost sustainable products are predicted to ensure a steady PPE market price trend and maintain industry expansion as well as penetration. Strong infrastructure and monetary indictors in developing nations like China and India are anticipated to propel personal protective equipment market growth in coming years. OSHA (Occupational Safety & Health Administration) security rules, primarily across U.S. and Europe is predicted to propel industry expansion.
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Personal Protective Equipment Market Product Trends:
Global personal protective equipment market is fragmented into various products like fall protection, head, hand protection, respiratory protection, eye & face protection, hearing protection, protective clothing and protective footwear.
Hand protection segment contributed about $8.8 billion in 2015 and is projected to accrue higher than $14.10 billion revenue by forecast period.
Fall protection application segment is projected to record 7.10% CAGR during forecast timeline.
Protective clothing application segment is projected to exceed $15.1 billion revenue by forecast timeline. Strong rules towards lessening of injury from fire, nuclear risk or chemical is predicted to play a vital part in segment expansion.
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Protective footwear segment is projected to gain maximum global personal protective equipment (PPE) market share and is projected to contribute higher than 18.1% of total revenue by end of 2023.
Personal Protective Equipment Market Application Trends:
Global personal protective equipment market is segmented into applications like transportation, construction, chemicals, food, oil and gas, production and pharmaceuticals.
Production application segment contributed greater than 20.1% revenue in 2015. Transportation application segment can provide many growth avenues with PPE industry revenue projected just below $5.1 billion for 2015. Construction segment which is an expanding segment is projected to record CAGR of about 7.6% by end of forecast timeline. Overhead expenses related with workplace contingencies will enhance penetration of product in the segment in future.
Oil and gas segment size was greater than $6.1 billion for 2015 and is projected to witness revenue higher than $11.1 billion by 2023.
Personal Protective Equipment Market Regional Trends:
Global personal protective equipment market is segmented into various geographical locations like North America, Middle East & Africa, Europe, Asia Pacific and Latin America.
U.S. PPE industry share was projected to surpass $12.1 billion for 2015. Growing occupational rate of fatality coupled with rising requirement for strong automatic wear resistant and utility gears across primary sectors is projected to stimulate industry expansion.
Europe, led by Germany PPE market share, is anticipated to experience reasonable expansion in future, mainly owing to feeble economic pointers and slow manufacturing index across the region.
Asia Pacific, specifically influenced by China and India personal protective equipment(PPE) market expansion, is expected to be most attractive industry destination, with revenue predictions higher than $13.1 billion during forecast timeframe.
Middle East & Africa and Latin America PPE industry size is anticipated to expand higher than 7.1% during forecast timeline.
Personal Protective Equipment Market Competitive Trends:
Key industry participants in Personal protective equipment market profiled in this report includes Mallcom, Alpha Pro Tech Limited, Ansell Limited, DuPont, 3M Company, Avon Rubber p.l.c, Honeywell, Rock Fall Limited, MSA Company, Radians and Polison.
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