The Fall Protection Equipment Market size to USD 1.143 billion from 2022 to 2027 | North America to contribute 34% of the market growth- Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The fall protection equipment market is expected to grow by USD 1.143 billion from 2022 to 2027, progressing at a CAGR of 7.9% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. About 34% of the market's overall growth is expected to originate from North America. In this region, the US and Canada are adopting fall protection equipment more frequently in the end user sector because of strict workplace safety regulations. In addition, large-scale construction projects, widespread exploration and production of crude oil and natural gas as well as many aircraft manufacturing and maintenance facilities contribute to the significant market share held by the US on the entire Regional Market for Fall Protection Equipment. Moreover, due to the increase in the production and use of gas in the region, US investment in oil and gas pipelines, power plants with natural gas as well as a petrochemical complex is increasing. Hence, these factors are expected to drive market growth in the region during the forecast period.  For more insights on the market share of various regions- Download a sample report in MINUTES

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Fall Protection Equipment Market: Market Dynamics

Key Driver

Development in the oil, gas, power, and mining sectors is a key factor driving market growth. Investments in the development of refineries, gas processing plants, and transport and distribution infrastructures for oil and gas are increasing because of rising energy demand. Moreover, among the world's largest consumers of oil and gas production are energy generation, transport & and utilities as well as home heating. Therefore, demand for fall prevention equipment will increase because of investment in this sector. Hence, these factors are expected to drive market growth during the forecast period. 

Major Trend

Increasing demand for fall protection equipment for recreational activities is a major trend in the market. Professional and adventure sports, especially among the people of developed countries, are becoming more popular. Consequently, there is a growing demand for personal protective equipment. These kits are purchased by professionals and contribute to the growth of the market. Recreational activities, for example, skiing, bungee jumping, and whitewater rafting are to be promoted by the government. Hence, the increasing demand for fall protection equipment for recreational activities is expected to drive market growth during the forecast period. 

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Some of the key Fall Protection Equipment Market Players:

The fall protection equipment market is fragmented and the companies are deploying organic and inorganic growth strategies to compete in the market.

3M Co., ABS Safety GmbH, Adolf Wurth GmbH and Co. KG, Bergman and Beving AB, County Safety Services Ltd., FallTech, French Creek Production Inc., Frontline, Honeywell International Inc., KARAM group, Kee Safety Systems and Services India Pvt Ltd., KwikSafety, PETZL Distribution, Pure Safety Group Inc., Safe Approach Inc., Super Anchor Safety, Tritech Fall Protection Systems Inc., Uviraj Group, Webb Rite Safety, and Werner Co.

This market research report segments the fall protection equipment market by product (anchors and connectors, bodywear, devices, and others), end-user (construction, energy and utilities, oil and gas, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The anchors and connectors segment will account for a major share of the market's growth during the forecast period. To prevent falls for operators and construction workers in the industrial, construction and maintenance, repair, and overhaul sectors, anchors and connectors are attached to body clothing such as harnesses and body belts. In addition, firms operating in the fall protection market are focused on enhancing their product portfolio. In addition to its fall protection portfolio, Werner has recently launched a new anchor connector. Also, the increased construction of skyscrapers and industry facilities is driving demand for anchors and connectors since operators are required to meet requirements such as joining, checking, preserving, or maintaining buildings and components. Hence, these factors are expected to drive segment growth during the forecast period. 

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Some of the key topics covered in the report include:

Market Drivers

• Companies covered
• Company classification
• Market positioning of companies
• Competitive scenario

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio