The Personal Protective Equipment Market projected to surpass $120 billion by 2027, says Global Market Insights Inc.
Increasing instances of occupational hazards and workplace injuries are likely to raise awareness regarding the importance of workers' safety, which is in turn expected to boost product demand during the forecast period, says this report.
SELBYVILLE, Del., June 21, 2021 /PRNewswire/ -- Based on a Global Market Insights Inc. report, the global Personal Protective Equipment Market was estimated at $55 billion in 2020 and is slated to exceed $120 billion by 2027, registering with a CAGR of 9.5% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size and competitive scenarios.
Growing concerns regarding employee safety and security at workplaces coupled with increased risk of exposure to hazardous chemicals, toxic fumes, dust and vapors in different manufacturing industries are expected to raise the PPE market share over the forecast period.
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The head protection equipment market was valued at $2 Billion in 2020 and is expected to reach over $25 billion by 2027, registering with a CAGR of 9.3% over the forecast period. Increased risk from falling or flying objects, electric shocks, spills, and splashes in different industries is expected to raise the demand for head protection equipment.
Instances of serious injuries such as sprains and concussions among industrial workers have compelled employers to mandate the use of head protection equipment, thus propelling personal protective equipment (PPE) market growth. Labor-intensive activities such as handling equipment like cranes, hoists, etc. while working in wells, shafts, tunnels, etc. that are involved in mining, construction, power, and forestry should further raise the demand for safety helmets and hard hats.
The fall protection equipment market is expected to reach over USD 7 Billion by 2027. Increasing safety norms and regulations to protect the workforce in different end-use industries to prevent sensitive body parts from falling debris, accidents, slips and other hazards is expected to raise the demand for fall protection equipment such as scaffolds, handrails, barriers, movable platforms, full-body harnesses, lanyards and retractable lifelines during the forecast period.
The global personal protection equipment (PPE) market from oil and gas application is expected to grow at a CAGR of over 10% between 2021 and 2027. Increasing oil exploration activities being carried out in different countries across the world such as the U.S., Russia, Canada, Saudi Arabia and UAE is expected to raise the demand for personal protective equipment (PPE) including steel-toe boots, flame-resistant clothing, safety glasses, and hard hats over the forecast timeframe. Moreover, stringent regulations regarding the high levels of safety to be maintained by workers at oil drilling sites are likely to further foster market growth.
North America PPE market is expected to witness healthy growth at a CAGR of over 9% during the forecast period owing to increasing oil and gas activities being carried out in the region and stringent norms regarding employee safety in workplaces. On the other hand, Europe is expected to witness healthy growth at the rate of 9.2% over the assessment period owing to rising construction, chemical, and manufacturing industries in the region.
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The increasing transportation industry, including rail transport, may favor regional growth demand. Introduction of occupational safety standards and compliance with strict regulations that mandate the usage of safety shoes in the work environment through the implementation of EU PPE Directive 89/686/EEC should further contribute to the growth of the personal protective equipment (PPE) market in the region.
Major players in the PPE industry are 3M Company, Honeywell International Inc., Alpha Pro Tech, Ansell Ltd., Avon Protective Systems Inc., JAL Group France SAS, COFRA S.R.L., Oftenrich Holdings Company Limited (Golden Chang), UVEX Safety Group GmbH, Rock Fall Limited, Dupont de Nemours Inc., MSA Company, Mallcom, Radians, Polison Corporation, Cigweld, Gateway Safety Inc., BartelsRieger Atemschutztechnik GmbH & Co. KG. The market participants are focusing on new product development by entering into collaborations and partnerships with other companies to strengthen their presence in the market.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company-level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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PPE Market Statistics - 2027
SOURCE Global Market Insights Inc.
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