Published: Feb, 2018
The need of organizations to modify their business models in order to incorporate frequently altering regulations and changes in the demand has fueled the demand for personal protective equipment across the world, states Transparency Market Research (TMR) in a new research report. The leading vendors of personal protective equipment are focusing aggressively on product innovation to strengthen their position, along with involving into strategic partnerships to expand their business. 3M Co., Ansell Ltd., MSA SAFETY, National Safety Apparel, Kimberly-Clark Corp., National Safety Apparel, Uvex Safety Group, COFRA Holding AG, Honeywell Safety Products, Avon Rubber, and Rock Fall Ltd. are some of the prominent personal protective equipment providers across the world, notes the market study.
As per the report, the opportunity in the global personal protective equipment market was worth US$40.40 bn in 2016. The market is estimated to expand at a CAGR of 7.0% during the period from 2017 to 2025 and reach a value of US$72.08 bn by the end of the period of the forecast. The demand for personal protective equipment is comparatively higher in the manufacturing industry. Researchers anticipate this scenario to stay same in years to come. Fall protection equipment are the most valued products in this market and are expected to remain so over the next few years. Geographically, North America led the worldwide market for personal protective equipment in 2016 with a share of 38%. The extensive uptake of PPE across various industries in this region is expected to ensure the dominance of North America market for personal protective equipment over the forthcoming years, reports the research study.
Rapid Rise in Industrialization to Propel Market
“The global market for personal protective equipment has been gaining substantially from the rapid industrialization,” says a TMR analyst. The significant rise in the manufacturing and the transportation industries and the increasing awareness among people regarding personal safety are driving the growth of this market considerably. The rising implementation of strict rules and regulations for work place safety by various governments are also propelling this market to great extents.
Going forward, the demand for personal protective equipment is likely to increase tremendously in the industrial sector in the near future. Products, such as hand protection equipment, fall protection equipment, and protective clothing are expected to find high usage in the industrial sector over the next few years, reflecting greatly on the overall market, states the research report.
Price Volatility of Raw Materials to Hamper Growth
On the whole, the current performance of worldwide market for personal protective equipment points towards its bright future. However, the volatility in the prices of raw materials required for product manufacturing may hamper the market’s growth over the coming years. Apart from this, the escalating automation in the industrial sector and the availability of inexpensive alternatives may also create hindrance in the steady rise of this market in the near future, notes the market study.
The review is based on a report by Transparency Market Research (TMR), titled “Personal Protective Equipment Market (Product Type - Eye and Face Protection, Head Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Professional Footwear, Fall Protection, and Hand Protection; Application - Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
- The demand for personal protective equipment is comparatively higher in the manufacturing industry.
- North America led the worldwide market for personal protective equipment in 2016 with a share of 38%.
The global personal protective equipment market is segmented into:
By Product Type
- Eye and Face Protection
- Head Protection
- Hearing Protection
- Protective Clothing
- Respiratory Protection
- Professional Footwear
- Fall Protection
- Hand Protection
- Oil & Gas
- North America
- Asia Pacific
- Middle East and Africa
- South America