Global Personal Protective Equipment Market: Snapshot
The personal protective equipment market has been emerging at a thriving pace due to the growth in industrial development globally. The rapid rise in awareness regarding personal safety is also anticipated to propel the growth of this market across the world. Personal protective equipment such as goggles, shield glasses, and helmets are designed to protect the user from damage or infection. Sectors such as transportation, manufacturing, and construction are also boosting the market growth across the world. This market is estimated to rise rapidly in the forecast period due to the adoption of strict regulations and policies in factories and other workplaces by governments of various regions.
According to the report, the global personal protective equipment market was valued at US$40.4 bn in the year 2016 and is estimated to be worth US$72.08 bn by 2025. The market is likely to exhibit a CAGR of 7.0% in the forecast period 2017-2025.
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High Demand for Fall Protection Equipment to Propel the Growth of Global Personal Protective Equipment Market
On the basis of type, the global personal equipment market is categorized into head protection, face and eye protection, protective clothing, hearing protection, fall protection, and professional footwear. Among these, the fall protection type covers majority market share globally. Experts in the personal protective equipment market expect the fall protection segment to lead in the upcoming years. As per application, the global personal protective equipment market is segmented into the manufacturing, construction, chemicals, oil and gas, pharmaceuticals, healthcare, food, and transportation sectors. Of these, the manufacturing sector was the prominent segment in 2016. This sector is projected to lead the global market over the forecast period.
North America Region Likely to be on the Top in Personal Protective Equipment Market
In terms of geographical regions, the global personal protective equipment market is divided into Asia Pacific, North America, South America, The Middle east and Africa and Europe. In 2016, North America with a market share of 38% dominated the market globally. Owing to the increase in adoption of personal protective equipment across different industries, North America is estimated to lead the global market over the forecast period. Emerging economy such as Asia Pacific is anticipated to offer lucrative growth opportunities in the global personal protective equipment market over the years to come. The Asia Pacific market is predicted to flourish at a robust CAGR of 7.50% between the years 2017-2025. Furthermore, this rise has resulted due to the increase in production, rapid growth in constructions, and the expansion of transportation sector. At the same time, the Middle East and Africa region is estimated to grow at a significant rate in the upcoming years owing to the rise in use of personal protective equipment and increasing number of guidelines for strict rules and regulations focusing on the work place safety of employees.
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In India, personal protective equipment for example durable gloves, air purifying respirators, and safety helmets have observed surge in demand in various industries in the past few years. With the increase in requirement for personal protective equipment, the personal protective equipment market is witnessing a paramount growth over the forecast period 2017-2025.
The global personal protective equipment is highly competitive in nature due to the presence of numerous large players all over the world. Few of the prominent players operating in the global personal protective equipment market include Ansell Ltd., The 3M Co, COFRA Holding AG, National Safety Apparel, Rock fall Ltd., Honeywell Safety Products, and MSA SAFETY. In the coming years, the market is expected to be innovation with the introduction of disruptive models as per business requirements. Also, invention of smart personal protective equipment products are likely to enhance the safety and productivity of workers.