Mar 19, 2020
Personal Protective Equipment Market Exhibits Promising Growth on the back of Surging Construction Initiatives, Finds Fact.MR
by Team Fact.MR
On the back of surging infrastructure development and oil & gas exploration projects, the global personal protective equipment market is expected to grow two-fold during the forecast period (2019-2029). Increasingly stringent labor safety laws across the globe are giving an uptick to the demand for personal protection while working in high-hazard industries. Advancements in material science and manufacturing technologies are further set to enhance the adoption of cost efficient protective gear. Rapid urbanization in developing economies generates multiplying demand in construction applications of the product. Personal protective equipment will witness a surging demand owing to these factors in the coming years.
Key Takeaways of Personal Protective Equipment Market Study
- Respiratory protection is set for more than two-fold growth during the forecast period. This can be attributed to glaring air pollution levels across the globe coupled with increasing industrial production.
- Construction end-use industry will lead global sales and multiply 1.7X through 2029. Owing to increasing investments in infrastructure by developing economies, construction end-uses will continue to lead total market value share.
- North America is at the forefront of regional distribution of global sales. The region is projected to grow 5.6X from 2019 to 2029. This can be attributed to resurgent shale gas and oil reserve exploration that employs personal protective equipment at scale.
- Protective equipment for eye, face and head offers the most lucrative growth opportunities on the back of hazardous pollution levels across industries and prevalence of preemptive labor safety measures.
“Developing economies such as India, China, and Indonesia will offer remunerative growth opportunities on the back of booming construction undertakings. Manufacturers must invest in modern manufacturing technologies to increase production levels and reduce product costs to target these markets. Further, penetration of untapped market must be coupled with an equal penetration in labor safety awareness levels across industries.” -Says Fact.MR Analyst
Preemptive Safety Measures to Act as Growth Anchor
Predictive safety analysis offers manufacturers the opportunity to create demand in new end-uses. Market players are leveraging industry 4.0 technologies in manufacturing processes to develop precision safety gear. With advancements in manufacturing, construction, and mining technologies, personal protective equipment must invest in innovating product offerings across industries. Emphasis must be laid on enhanced product performance to differentiate product offerings. Development of personal protective equipment that can withstand extreme situations will reflect well on manufacturer’s goodwill in the market. Sharp focus on economic developments in Asia Pacific will help organizations predict demand trajectories and effectively target upcoming opportunities.
Get Valuable Insights on the Personal Protective Equipment Market
Fact.MR, in its new offering, presents an unbiased analysis of the personal protective equipment market, presenting historical demand data (2013-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the personal protective equipment market on the basis of product type (hands & arms, body, foot & leg, hearing, eye & face, head, and others), end use industry (construction, manufacturing, oil & gas, chemicals, food, pharmaceuticals, transportation, maritime, fire and rescue, defense, mining, and agriculture), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed the industrial goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.