The global safety helmet market to reach USD 3.19 billion by 2025
LONDON, Nov. 17, 2017 /PRNewswire/ -- Safety Helmets Market Size and Forecast, By Type (PE, ABS, PC), By Application (Construction, Manufacturing, Mining), By Specifications [Hard Hats (Type I, Type II), Bump Caps (Soft, Hard)], and Trend Analysis, 2014 - 2025
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The global safety helmet market to reach USD 3.19 billion by 2025, driven by the rising awareness among the employees about safety, surge in the construction sector in developing economies, and strict safety norms mandating the use of protective gear. Increasing industrialisation and growth of the construction industry in countries such as India, China, Mexico, Brazil and South Africa is also expected to create demand for safety helmets.
In 2016, North America dominated the safety helmet market accounting for one-third of the market share by revenue. Stringent regulations proposed by organisations like OSHA has added to the demand for safety helmets in regions such as North America.
Asia Pacific is expected to grow at a CAGR of 5.5%, in terms of revenue, over the forecast period due to an increasing demand for safety helmets in construction and manufacturing industries. In addition, significant infrastructure spending for existing & new structures in Europe is expected to add to the growth of the market over the forecast period.
A variety of materials is used to manufacture industrial safety helmets such as PE, ABS, and PC. PE helmets have a higher tensile strength, and attractive design makes it suitable for construction, agriculture, mining, sand blasting, welding, and chemical industries. The segment dominated the global market accounting for 89.9% of the volume share in 2016.
Demand for safety helmets was highest in construction and is expected to witness the fastest growth in line with the expansion of the sector. Moreover, increasing number of regulations to ensure the safety of workers in the sector is expected to result in a growth of the market at a CAGR of 4.4% over the projected period.
Bump caps are lightweight hard hats made up of either low-density polyethylene or plastic. It is used where the possibility of hitting one's head on equipment prevails, however, it is not effective in absorbing larger impact. These are suitable for food processing industries, warehouse, auto repair and small-scale manufacturing companies.
The global safety helmet market is marked by the presence of multiple active vendors, including companies such as 3M, Honeywell, MSA, and Delta plus. Companies are focusing on new product development to increase the sale of these protective gears.
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