FELTON, Calif., April 4, 2018 /PRNewswire/ --
The global personal protective equipment market to reach USD 55.6 billion by 2028, owing to the increasing awareness towards employee health and safety issues at work place coupled with rising industrial fatalities in emerging economies on account of shortage or lack of protective gear. Technological innovation, along with changing consumer needs for protective equipment which offers complete safety and is fashionable and appealing at the same time is further estimated to augment the market over the forecast period.
Europe emerged as the leading regional market for PPE accounting for more than 32% of the market revenue share over the forecast period. The implementation of strict safety standards by regulatory agencies such as Occupational Safety and Health Administration (OSHA) mainly in Europe and North America is expected to fuel the need to use personal protective equipment over the forecast period.
Increasing occupational fatalities coupled with requirement for high durable mechanical wear resistance and high utility protective gears in most of the core industries such as oil & gas, refining, metal manufacturing and automotive is expected to augment penetration of the segment over the forecast period. Increase in the use of PPE coupled with rapid industrialization in emerging economies such as China, India, and Brazil is expected to drive durable protective clothing segment in foreseeable future. Favorable regulatory scenario to minimize occupational hazards across various regions is also expected to have a positive influence on the market growth. Increasing construction activities in Asia Pacific and Middle East is also expected to fuel the industrial protective clothing demand.
Browse full research report with TOC on "Personal Protective Equipment (PPE) Market Size and Forecast By Product Type (Head, Eye and Face Protection, Hearing Protection, Hand Protection, Fall Protection, Respiratory Protection, Protective Clothing, Foot Protection) By Application (Mining, Manufacturing, Construction, Oil & Gas) And Trend Analysis, 2015 - 2028" at: https://www.hexaresearch.com/research-report/personal-protective-equipment-ppe-market
Protective clothing segment accounted for more than 23% of the market share owing to the growing occupational hazards coupled with the mandatory implementation of regulations to use protective clothing in most of the core industries such as oil & gas, refining, metal manufacturing and automotive is expected to augment market growth of the protective clothing segment over the forecast period.
Construction is anticipated to be the fastest growing application segment for personal protective equipment in future on account of rising constructional activities in Asia Pacific and Central & South America. Overhead costs associated with workplace fatalities is expected to increase product penetration in the segment over the foreseeable future.
Growing manufacturing capabilities in Asian countries is anticipated to decrease quality gap between national brands and private labels. PPE manufacturers are investing heavily in R&D and strengthening customer engagement in order to gain consumer preferences and cater to definite needs across industries and price points in the global PPE market. Some national brand manufacturers actively offer private label services in specific commoditized PPE segments. This creates competition between the national brand product and the distributor owned private label brand product. The major players are focusing on quality, service and innovation to differentiate themselves from national brands in the market by adopting strategies such as product portfolio expansion, capacity expansions, and development of new facilities to gain market share.
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Hexa Research has segmented the global personal protective equipment market report based on product type, application and region:
Segmentation by product type, 2015 - 2028
• Head, Eye and Face Protection
• Hearing Protection
• Hand Protection
• Fall Protection
• Respiratory Protection
• Protective Clothing
• Foot Protection
Segmentation by application, 2015 - 2028
• Oil & Gas
Segmentation by region, 2015 - 2028
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Key players analyzed:
• Honeywell International Inc.
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SOURCE Hexa Research