The Global Fall Protection Equipment Market to Reach Revenues of Over $5 Billion During the Period 2020 −2025 - Market Research by Arizton

CHICAGO, Feb. 25, 2020 /PRNewswire/ -- According to Arizton's recent research report, Fall Protection Equipment Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 10% during the period 2019−2025.

Key Highlights Offered in the Report:  

1. The soft goods segment dominated the market and is expected to generate an incremental revenue of over $470 million during 2020-2025.
2. The construction industry accounted for more than 26% of the total market owing to the increased preference of lanyards, ropes, harnesses, and rescue kits.
3. The transportation industry which extensively makes uses of the access systems and horizontal lifeline systems is expected to generate over $390 million by the end of 2025.
4. North America dominated the fall protection equipment market owing to the presence of regulations such as OSHA and ANSI and is expected to grow at a CAGR of around 9% during the forecast period.
5. The US, the UK, and Germany are expected to be the major markets for anchors and rope grabs during 2020-2025.
6. With the market being highly fragmented, the increasing awareness and campaigns in growing economies like India, Argentina, and Thailand can help in the elimination of counterfeit and non-certified products that can enhance safety.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, end-user, and geography
• Competitive Landscape – Profile of 5 key vendors and 21 other vendors

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Fall Protection Equipment Market – Segmentation

• Lanyards reduce free fall distance and minimize injury risks. These types of soft goods are durable and flexible, which increases their utilization in construction activities. The demand for lanyards is expected to grow due to the increasing construction activities in the APAC and North American regions.
• Rope grabs enable level and inertial locking to prevent the fall and are the preferred options for vertical and horizontal lifeline systems applied in the construction and mining industry.
• The demand for harnesses and belts is likely to increase as they are majorly used in the mining industry. The global mining industry is expected to grow at a rate of 3% until 2022. Thus, the demand for rescue kits, lanyards, and belts is likely to surge during the forecast period.

Market Segmentation by Product Type

• Soft Goods
• Hard Goods
• Installed Systems
• Access Systems
• Rescue Kits
• Services
• Others

Market Segmentation by End-user  

• Construction
• Mining
• Oil & Gas
• Energy
• Transportation
• Telecom & Utility
• General Industry
• Others

Fall Protection Equipment Market – Dynamics

The professional cleaning industry has been growing at a rapid pace and is expected to generate over $70 billion by 2022. The cleaning services comprises of window cleaning, floor cleaning, maid services and upholstery cleaning which are being widely utilized for the commercial and residential segments. The growth is also expected to propel further owing to the rise in construction activities, investments to develop infrastructure, renovation activities, and other upgrades during the forecast period. Some of the other factors which contribute growth include increase in disposable income of citizens, urbanization, real estate growth and investments, and rise in number of employees. These factors combined will propel the demand in the global fall protection equipment market over the next few years.

Key Drivers and Trends fueling Market Growth:

• Increasing Workplace Injuries
• Stringent Safety Regulations
• Increased Government Investments
• Growth of Adventure Sports

Fall Protection Equipment Market – Geography

Increasing infrastructural developments in the Netherlands, Denmark, and Portugal is likely to drive the market in Europe. The construction industry in the European region is expected to generate $2,750 billion by 2023. With the rise in the number of construction projects, risks and hazards associated with employees are also estimated to rise in the coming years, thereby expecting to drive the demand for soft goods such as lanyards, ropes, harness, access systems, and rescue kits during the forecast period. The rise in investments from the public and private sector will also fuel the demand in the market. It is also fueled by the renovation activities that is expected to be carried out in most of the residential homes coupled with the policy reforms. The Nordic countries are the major reasons behind the rapid growth.

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Market Segmentation by Geography

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• APAC
• China
• Japan
• South Korea
• India
• Indonesia
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia
• UAE
• Turkey

Major Vendors

• 3M
• Honeywell
• MSA
• Petzl
• Pure Safety Group

Other vendors include - SKYLOTEC GmbH, Guardian Fall, Kee Safety, Werner, FallTech, Cofra, FrenchCreek, Safe Approach, Swelock Asia, Heightsafe, Hi-Rise Access, SafetyLink, Malta Dynamics, Buckingham Manufacturing, Elk River, Sellstrom, Rigid Lifelines.

Explore our industrial machinery profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence