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Gas Masks Market - Competitive Landscape and Regional Analysis by 2017-2026
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Stringent regulations in conjunction with increasing preference towards providing safety at the workplace is driving revenue growth of the powered air purifying respirators segment
Several regulations put in place by government bodies mandates employers to assess hazards at the workplace and provide workers with personal protective equipment including gas masks as required. Stringent regulations in conjunction with increasing preference towards providing safety at the workplace are driving the growth of the powered air purifying respirators segment. Employers are focusing on providing improved protection against the various encountered risks at the workplace. This has led to the development of new manufacturing technologies and materials. In line with this, in the recent past, the powered air purifying respirators segment has witnessed the introduction of several high technology innovative products that comply with prevalent industry standards. These high-quality cost-effective gas masks are expected to propel the growth of the powered air purifying respirators segment over the forecast period.
Growing industrialization in emerging countries such as China and India is expected to fuel market demand in the powered air purifying respirators segment globally during the period of assessment. Sustained government support coupled with the increased outsourcing of manufacturing endeavors from developed nations has propelled industrialization in these emerging economies.
With the increasing number of accidents, subsequent fatalities and injuries in mining, construction, oil and gas and chemical industries, adoption of personal protective equipment such as powered air purifying respirators for the labor workforce has become a critical requirement. Adoption of powered air purifying respirators in various industries not only significantly reduces injuries and fatalities but also increases productivity output. This factor is creating a positive impact on the powered air purifying respirators segment.
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Powered air purifying respirators segment is projected to reach the highest CAGR of 3% in the APAC gas masks market
The powered air purifying respirators segment is estimated to be the most attractive segment with a CAGR of 2.4% in North America, while in Europe the powered air purifying respirators segment of the global gas masks market is expected to reach a Compound Annual Growth Rate of 2.3% and is estimated to reach a little more than US$ 140 Mn by the end of the forecast period. In the Asia Pacific gas masks market, the powered air purifying respirators segment is expected to create incremental opportunity of more than US$ 60 Mn during 2016-2026. The segment is projected to be the most attractive segment with a CAGR of 2.5% and is anticipated to reach a market valuation close to US$ 90 Mn by the end of the forecast period in the MEA gas masks market.
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