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Personal Protective Equipment Market, Size, Share and Forecast 2019-2026

 



(EnergyIndustry.Net, December 24, 2019 ) Market Overview

• The Global Personal Protective Equipment market is expected to grow at a CAGR of 6% to reach a market value of USD YY million by 2026.

• February 2019, Global safety equipment manufacturer MSA Safety Incorporated announced the addition of two new harnesses called the V-FORM and the V-FIT to its leading V-Series line of fall protection equipment.

• Personal protective equipment (PPE) is protective clothing such as footwear, helmets, gloves, or other garments designed to protect the wearer's body from injury or infection.

• The protective equipment addresses hazards such as physical, heat, electrical, biohazards, chemicals, and airborne particulate matter. PPE may be worn for work-related occupational safety and health purposes, as well as for other recreational activities such as sports.



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Market Dynamics

• The global Personal Protective Equipment market is primarily driven by the adoption of stringent regulatory framework and safety regulations coupled with increasing awareness about the importance of workplace safety.

• The International Labor Organization (ILO) estimates that some 2.3 million women and men around the world succumb to work-related accidents or diseases every year.

• Worldwide, there are around 340 million occupational accidents and 160 million victims of work-related illnesses annually.

• Furthermore, mandated policies by government agencies specifying the type of PPE required during various industrial processes are expected to boost the growth. For instance, strict standards by EU PPE Directive 89/686/EEC covers the marketing and manufacture to ensure the quality and durability of PPE to increase reliability and usage across end-user industries in Europe.

• Additionally, the growing number of construction investments mainly in India, China, Saudi Arabia, and South Africa owing to high investments and available financial assistance is projected to stimulate demand for PPE.

• However, the increased automation in end-use industries and the high price of specialized clothing may hinder the market growth.



Market Segmentation

• By Product, the global Personal Protective Equipment market is segmented into head protection, eye & face protection, hearing protection, protective clothing, respiratory protection, protective footwear, fall protection, hand protection, and others.

• Hand protection PPE share holds the most significant revenue share owing to its high demand with the increasing number of hand and arm injuries in the workplace.

• Risks associated with handling warm objects, corrosive chemicals, and heavy-duty equipment are likely to boost demand for protective gloves in construction, healthcare, oil and gas, food processing, and other industries.

• In a recent US Department of Labor study, of all injuries reported, injuries to the fingers and hands accounted for more than 23%, making them the highest in preventable injuries.

• Hand injuries send more than one million workers to the emergency room each year in the US, and 70% of workers who experienced hand injuries were not wearing gloves, while the remaining 30% of injured workers did wear gloves, but the gloves were inadequate, damaged or the wrong type for the type of hazard present.

• The protective clothing segment holds a significant market share and is sub-segmented into heat and flame protection, chemical defending, cleanroom clothing, mechanical protective clothing, and others.

• Its high-performance characteristics and the rising awareness among employers to protect employees have resulted in the increased penetration and demand of the product in end-user industries.



• By Application, the global Personal Protective Equipment market is segmented into construction, manufacturing, oil & gas, chemicals, food, pharmaceuticals, transportation, mining, and others.

• The manufacturing segment accounted for the largest share. It is primarily attributed to increasing demand in developing economies in the Asia Pacific and South America for employee protection products, thereby driving the need for personal protective equipment.

• The oil & gas industry is expected to witness a significant market share growth in terms of revenue owing to the growth of the sector and the high accident risk associated with it.

• Growing oil & gas and petrochemical industries in UAE, Saudi Arabia, China, and India are expected to propel product demand.

• The construction industry is expected to provide a significant opportunity for the PPE market due to the rising construction activities which inevitably increase the risk of occupational hazards thus driving the demand.



Geographical Analysis

• North America holds the largest market share for Personal Protective Equipment. It is attributed to the increased adoption of PPE from end-use industries such as the construction industry.

• The region has growing workplace fatalities and stringent regulations imposed by regulatory bodies such as the Occupational Safety and Health Administration (OSHA) for the workers' safety, which is driving regional product demand.

• According to OSHA, 2017, out of 4,674 worker fatalities in private industry and 20.7% were in construction. The leading causes of private sector worker deaths (excluding highway collisions) in the construction industry were falls, followed by struck by an object, electrocution, and caught-in-between.

• The Asia Pacific is the fastest growing regional market and is expected to emerge as the leader on account of its rapid industrialization and economic growth.

• Government initiatives such as providing free safety equipment at hazardous workplaces mainly in China and India coupled with increasing awareness on workplace safety is expected to drive regional market growth.



Competitive Analysis

• Key players are adopting strategies such as mergers and acquisitions, partnerships, regional expansion, and product launches to stand out as strong competitors in the market.

• September 2018, Global safety equipment manufacturer MSA Safety announced that its new jet-style fire helmet, called the Cairns XF1, has received third-party certification as compliant to the 2018 edition of the National Fire Protection Association’s (NFPA) 1971 performance standards for structural firefighting. It is also certified as compliant to the 2013 edition of the NFPA’s 1951 performance standards for technical rescue.

• In May 2016, Honeywell International launched a range of single-use, molded masks. The product is used in general industrial and construction industries.

• In October 2015, 3M expanded its safety gloves portfolio with three new gloves. The products are used in the construction and electrical industries.



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