9-October-2018: According to a report by Grand View Research Inc., the global personal protective equipment market reported a valuation of USD 38.38 billion in 2015. Safety is integral to any business. Personal protective equipment (PPE) ensure minimum exposure to occupational health hazards. They are available in different forms, including pads, gloves, masks, and shields.
Stringent regulations pertaining to occupational health and safety are likely to help the market gain tremendous impetus. Mandated policies by organizations such as the Occupational Safety and Health Administration (OSHA) and National Institute for Occupational Safety and Health (NIOSH) have been compelling employers to look after employee safety in industries. In addition, these regulations ensure that PPE is assessed properly to make it fit for use along with proper maintenance.
Rising awareness regarding safety and security of employees at workplace is expected to create a staggering demand for personal protective equipment. Mounting cases of workplace fatalities is prompting employers to pay attention to employee health and safety. By prioritizing workers’ safety and establishing safety guidelines, they are able to save large operational costs in the form of compensation and arbitrated settlements. Apart from this, the market is also driven by rapid expansion in the manufacturing and construction industries and increasing research and development establishments in developing economies.
Introduction of smart and wearable PPE products is transforming the workplace to a connected domain, which in turn is improving worker safety and productivity. For instance, in April 2017, Tata Group developed a safety wearable watch for workers at Tata Steel. Tata Elxsi, Titan, and Tata Consultancy Services came together for ‘design thinking’. The smartwatch has an analog face and can track temperature, movements, heartbeats, ambient gases, and fall detection. Technological innovations, along with changing consumer need for protective equipment, are estimated to augment the market.
On the other hand, increasing penetration of automation in end-use industries can hamper growth prospects. Automation reduces the need for physical presence of workers. Furthermore, high price of personal protective clothing is poised to inhibit market growth. Unavailability of safety data from industries, especially in developing economies, can adversely affect the growth of the market. However, growing popularity of e-commerce can boost the sales of personal protective equipment in coming years.
The global personal protective equipment market has been segmented on the basis of product, end-use industry, and region. Based on product, the market has been divided into head, eye, and face protection, protective clothing, hearing protection, protective footwear, respiratory protection, hand protection, fall protection, and others. By end-use industry, the market has been classified into manufacturing, construction, chemicals, oil and gas, transportation, food and beverage, mining, and healthcare and pharmaceuticals.
In terms of geography, the market has been fragmented into Europe, North America, Asia Pacific, Central and South America, Africa, and Middle East. Europe will be at the forefront of growth throughout the forecast period (2014–2024). Rising cases of occupational fatalities are one of the primary growth stimulants of the region. Soaring need for high utility protective gears and durable mechanical wear resistance is anticipated to trigger the growth of the market. On the flip side, the growth of the market in Europe can slow down due to increasing implementation of automation in industries.
North America will also account for a substantial share in the market, owing to stringent norms pertaining to occupational health and safety. Asia Pacific is projected to be the fastest growing region during the same period. Spiraling demand for personal protective equipment in the construction and manufacturing industries, especially in emerging economies such as India, China, and Vietnam, will contribute to the growth of the region.
The global personal protective equipment is highly fragmented in nature. Key players in the market are investing in research and development activities to create innovative, application-specific products. Strategic differentiation and competitive pricing of products and services are imperative for market participants to ensure a strong foothold in the global arena. Some of the prominent companies operating in the market are DuPont, Honeywell, 3M, Alpha Pro Tech Ltd., and MSA Safety.
In-Depth Research Report On Personal Protective Equipment Market:
https://www.grandviewresearch.com/industry-analysis/personal-protective-equipment-ppe-market
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