Asia-Pacific to Lead Growth of the Personal Protective Equipment Market in the Wind Energy Industry by 2025
Offshore wind farms and electric power grids are expected to enhance PPE usage worldwide, says Frost & Sullivan
SANTA CLARA, Calif., Feb. 25, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis forecasts that global personal protective equipment (PPE) revenues in the wind energy industry will reach $514.6 million by 2025, up from $409.2 million in 2020, growing at a CAGR of 4.7%. The industry growth is driven by an increase in wind farm installation and maintenance services and resultant employment opportunities, growing awareness about wind energy PPE, riskier work environments, and stringent regulatory compliances. Europe is the largest market for wind energy PPE, constituting nearly 44.4% revenue market share in 2020. However, with the expected increase in offshore and onshore farms and employment opportunities, the Asia-Pacific region is expected to have the highest growth rate and expand its revenues from $123.6 million in 2020 to $157.2 million in 2025.
Wind energy PPE includes above-the-neck, respiratory, hand, foot, and fall protection, along with protective clothing. Among these, fall protection PPE is the largest and fastest-growing product segment. It is expected to have a CAGR of 5.1% from 2020 to 2025.
For further information on this analysis, The Global PPE Market in the Wind Energy Industry is being Driven by Government Incentives and Initiatives, please visit: http://frost.ly/5ax.
"COVID-19 stalled the demand for PPE in the wind energy industry due to the temporary delay in wind farm installations. With economies expected to slowly recover and a renewed interest in environment-friendly and sustainable sources of electricity generation, the demand for PPE in the wind energy industry is expected to rise," said Anjan Roy, Senior Research Analyst, Chemicals, Materials and Nutrition Practice, Frost & Sullivan. "Offshore wind farms and electric power grids are expected to further enhance PPE usage. Offshore wind turbines can produce more electricity, owing to the steady wind, but the construction, repair, and maintenance require more manpower than the traditional onshore wind turbine, thus driving the usage of PPE in the industry."
Roy added: "Tax and financial incentives along with favorable renewable portfolio standards (RPS) play a critical role in driving wind energy, correspondingly increasing the PPE usage across the world. In the United States, all construction on wind energy systems started by December 31, 2020, can either receive the federal Business Energy Investment Tax Credit (ITC) or the federal Renewable Electricity Production Tax Credit (PTC). In China, regulators approved subsidy-free projects of 11.4 GW of wind energy in 2020. And the UK has lifted its ban on subsidizing new onshore wind farms, allowing floating offshore wind projects, in a new auction scheme announced in June 2020."
To expand revenue generation prospects, PPE manufacturers should explore these strategic recommendations:
- Above-the-neck protection: Major manufacturers will grow by consolidating their positions in existing markets as well as through mergers and acquisitions in unexplored regions. The future for above-the-neck PPE lies in more customized and integrated solutions with multiple functionalities integrated into a single product. Technology will also drive the market with increasing preference for more advanced active communication ear muffs, custom-molded earplugs, protective eyewear, and smart helmets.
- Respiratory Protection: The development of filter technology has resulted in the rising adoption of non-woven filters in respiratory protection that are expected to replace plastic filters. Increasing awareness of the ill effects of silica and the implementation of respirable crystalline silica standard (29 CFR 1926.1153) are expected to positively influence the volume demand for respiratory protection.
- Protective Clothing: This segment is expected to be driven by reusable fire-resistant (FR) clothing because it is comparatively more cost-efficient. In addition, there is an increasing preference for inherent FR clothing over treated FR clothing because the protective capability of inherent clothing does not diminish over time, even after numerous washes.
- Hand Protection: Product innovation and diversified product offerings will help market participants remain competitive. Technical innovation includes gloves made of high-performance polyethylene (HPPE), which offers superior grip and protection.
The Global Personal Protective Equipment (PPE) Market in the Wind Energy Industry is being Driven by Government Incentives and Initiatives is part of Frost & Sullivan's global Chemicals, Materials and Nutrition https://ww2.frost.com/research/industry/information-communications-technologies/Growth Partnership Service program.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
The Global Personal Protective Equipment (PPE) Market in the Wind Energy Industry is being Driven by Government Incentives and Initiatives
K595-39
Media Contact:
Priya George,
Corporate Communications
M: +91 98403 55432; P: +91 44 6681 4414
E: [email protected]
SOURCE Frost & Sullivan
Share this article