Press release
Hearing Protection Devices Market to Spread a Predictable Worth of US$ 1.9 Billion by 2021
Increasingly number of stringent safety regulations, rising employment in construction industry, growing demand for HPD in manufacturing sector, rising demand for next-generation HPD in military sector and, increasing urbanization and development activities across the world are major factors leading to increased demand for hearing protection devices. Also, low cost earplugs launched by local manufacturers are expected to boost demand in developing regions, thereby fuelling growth of the hearing protection devices market. Lack of awareness and improper hearing attenuation are few factors expected to hamper growth of the global hearing protection devices market. Major trends in the hearing protection devices market include rising emphasis on custom-tailored hearing protection devices, increasing number of mergers and acquisitions, technology shift towards ear plugs with acoustic filters and increasing demand for uniform attenuation ear plugs.
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The global hearing protection devices market was valued at US$ 859.3 Mn in 2014 and is projected to account for US$ 1,943.8 Mn by the end of 2021. The market is anticipated to expand at a CAGR of 12.4% in terms of value during 2015–2021. Rising demand for technologically-advanced HPD, strict government regulations regarding workers' safety and increasing employment in construction industry are expected to positively affect growth of the hearing protection market across the globe.
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Key market players covered in this report are 3M, Honeywell International Inc., Amplifon, Hellberg Safety AB, Dynamic Ear Company, Centurion Safety Products Ltd, Sonomax Technologies Inc, Siemens Healthcare GmbH, ADCO Hearing Products Inc., Elvex Corporation and Moldex-Metric Inc. Major players in hearing protection devices market focus on enhancing their global and regional presence through strategic acquisitions and mergers, and operational expansion.
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