Global Industry Analysts Predicts the World Hearing Protection Devices Market to Reach $1.7 Billion by 2026

SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hearing Protection Devices - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 16; Released: February 2022
Executive Pool: 5133
Companies: 91 - Players covered include 3M Company; ADCO Hearing Products, Inc.; Centurion Safety Products Limited; Honeywell International Inc.; JSP Ltd.; MSA Safety Incorporated; Moldex; Silenta Group Oy; Sordin AB; Starkey Hearing Technologies; Phonak Communications AG; Productos Climax and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Earplugs, Earmuffs, Hearing Bands, Uniform Attenuation Earplugs); End-Use (Mining, Construction, Manufacturing Sites, Military, Forestry, Healthcare, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Hearing Protection Devices Market to Reach $1.7 Billion by 2026
Hearing protection devices are used as temporary noise control measures. These devices help in reducing noise that reaches ears of users in industrial, construction, mining and other such areas. Demand in the market is set to be driven by factors that include legislations which enforce standards of worker safety, employment rates, increasing awareness regarding safety among industrial workforce, rising sense of professionalism that accelerates acceptance of protective wear as part of worker`s paraphernalia, growing dynamism in the retail and services sector, and rise in career prospects for risky professions. Although personal protective gear is costlier than ordinary workwear, the sophistication and safety features provided far outweigh the costs involved. Hearing protection devices market sustained losses during the first half of 2020 on the back of steep decline in demand across end-use domains. The market is witnessing sequential improvement in terms of new orders with recovery in various end-use sectors. Going forwards, economic development and employment growth in the manufacturing, construction and mining sector would be a key determinant of demand for hearing protection devices, as improving economic prosperity leads to increased construction activity and higher manufacturing output.

Amid the COVID-19 crisis, the global market for Hearing Protection Devices estimated at US$1.3 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2026, growing at a CAGR of 6.9% over the analysis period. Earplugs, one of the segments analyzed in the report, is projected to record a 7% CAGR and reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Earmuffs segment is readjusted to a revised 7.3% CAGR for the next 7-year period. Earplugs represent the leading segment because they feature higher compatibility with other personal protective gear, compared to earmuffs. In particular, the defense and law enforcement segment created high demand for earplugs because of their compact small size and lightweight nature, and ease of carrying and operations in confined work spaces, compared to bulkier noise-cancelling earmuffs.

The U.S. Market is Estimated at $438.2 Million in 2022, While China is Forecast to Reach $263.1 Million by 2026
The Hearing Protection Devices market in the U.S. is estimated at US$438.2 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$263.1 Million by the year 2026 trailing a CAGR of 9.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 6.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR. Rapid industrialization and rising manufacturing and construction activity in developing markets such as Asia-Pacific, Latin America and Middle East is expected to lead to more widespread use of hearing protection devices. Growth will be especially be driven by increase in manufacturing works and infrastructure construction projects underway in developing markets of China, India, Singapore, Malaysia, Thailand, and Korea.

Hearing Bands Segment to Reach $100.5 Million by 2026
Hearing Bands or Canal Caps are a cross between earplugs and earmuffs. Canal Caps are easy to use and the chances of outer ear canal infection are negligible. They are comparatively lighter than earmuffs. In the global Hearing Bands segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$58.3 Million will reach a projected size of US$84.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.4 Million by the year 2026, while Latin America will expand at a 7% CAGR through the analysis period.
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SOURCE Global Industry Analysts, Inc.