Transparency Market Research (TMR), a market intelligence and research firm, has published a research report on the global personal protective equipment market, titled “Personal Protective Equipment Market - Global Industry Analysis, Trend and Forecast 2014 - 2020”.
Browse the full Personal Protective Equipment Market - Global Industry Analysis, Trend, Size, Share and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/personal-protective-equipment.html
The market study states that the global market for personal protective equipment stood at US$34 bn in 2013. Analysts at TMR expect this market to expand at a CAGR of 7.30% during the period from 2014 to 2020 and reach a market value of US$55.5 bn by the end of the forecast period.According to the research report, the rising concerns over the safety of workers, coupled with implementation of several regulations by various governments mandating occupational safety across the globe, is propelling the worldwide market for personal protective equipment. The heavy usage of personal protective equipment in the construction, manufacturing, oil and gas, and chemical industries is also fueling this market to a significant extent.
On the other hand, the rising trend of automated production processes is limiting the manual interference, restricting the usage of personal protective equipment, hence, creating a severe challenge for this market. However, the untapped opportunities in developing economies of South America and Asia Pacific are likely to boost the global personal protective equipment market during the forecast period.The worldwide personal protective equipment market has been analyzed on the basis of types and application. The market segments of face, eyes, and head protection, fall protection, hearing protection, respiratory protection, hand protection, protective clothing, and professional footwear are the major types of personal protective equipment available in the global market.
The segment of professional footwear leads the global personal protective equipment market based on its types. However, the market for fall protection is projected to register the fastest growth in the personal protective equipment market over the forecast period. In 2013, this market segment has reported a value of US$2,789.5 mn, whereas the market for face, eye, and head protection collectively reached US$5,900.2 mn, that year.The markets for manufacturing, construction, oil and gas, food, chemicals, transportation, pharmaceuticals are the key application areas for personal protective equipment. Among these, the construction market emerged as the leader of the overall market. However, the manufacturing industry is projected to report the highest growth during the forecast period. In 2013, the manufacturing market accounted for a share amounting to US$6,714.1 mn. The rising awareness regarding the safety of the workplace is the main reason, fueling the demand for personal protective equipment in the manufacturing industry.
Apart from this, the rapid rise in the logistics industry is stimulating the demand for personal protective equipment in the transportation industry. This market segment stood at US$2,604.6 mn in 2013 and is anticipated to report the fastest growth over the forecast period.3M Co., Ansell Ltd., Alpha Pro Tech Ltd., Avon Rubber plc, COFRA Holding AG, JAL Group, Oftenrich Holdings Co. Ltd., Rock Fall Ltd., Honeywell Safety Products, and Uvex Safety Group are the major companies operating in the global personal protective equipment market, states the report.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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