Global Personal Protective Equipment Market is Expected to Reach USD 55,509.1 Million by 2020

2024-11-08 08:21:11 News & Society

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The World Health Organization has stated that road traffic accidents and injuries numbered to 1.24 million deaths in 2010, indicating a marginal decline from 1.26 million in 2000. With such glaring statistics, safety is one of the prime concerns for most businesses, manufacturing units, and governments across the globe. Owing to these reasons the global personal protective equipment market has been growing at a rapid pace. Personal protective equipment (PPE) refers to a range of items such as goggles, clothing, helmets and such other gear that has been designed to protect the wearer body from injury or a hazardous environment.

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Personal protective equipment has to meet safety standards set by the European Union. As per the directive the standards for personal protective equipment is divided as simple design for gardening gloves, footwear, ski goggles etc; complex design for respiratory equipment, harness, etc; and the personal protective other than these such dry and wet suits, personal flotation devices will have specific standards depending on the requirement and the design. The use of personal protective gear in found in many industries such as construction, manufacturing, chemicals, defense, mining, pharmaceuticals, transportation, and many small-scale industries too.

Composition of Global Personal Protective Equipment Market

The huge personal protective equipment market is segmented on the basis of application, type, and geography. The application segment includes sub-segments such as transportation, automotive, manufacturing, oil and gas, chemicals, food, mining, construction, pharmaceuticals, and others. Depending on type, the personal protective equipment market is composed of head, eye, and face protection, protective clothing, hearing protection, respiratory protection, fall protection, hand protection, professional or protective footwear, and others. In the terms of geography, the personal protective equipment market includes regions such as Africa, South America, North America, Middle East, Russia, Europe, Russia, and Asia Pacific.

Future of Global Personal Protective Equipment Market

Strict government rules and regulations and the urgency to ensure safety at workplace are the two important factors driving the global personal protective equipment market. In the coming six years, as government across the globe get serious about execution of safety rules, the sentiment is expected to fuel the global personal protective equipment market further. These factors will also be supported by foreign direct investments which come with international safety rulebooks and rapid industrialization in emerging economies such as Africa, South America, and Asia Pacific. According to analysts, the global personal protective equipment market was valued at USD33,952.5 million in 2013, and is expected to reach USD55,509.1 million by 2020, growing at a CAGR of 7.3% from 2014 to 2020.

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Personal protective equipment market is also being encouraged by foreign investments in developing nations. As manufacturing and construction activities are booming in these markets, there is a huge need for personal protective equipment in these regions. Owing to these reasons many companies are entering the African and Asian market with a hope to make it big. However, these companies have to comply with the respective safety norm while designing products for the local markets.

Amongst the type segment in the global protective equipment market, professional footwear segment was valued at USD7,005.8 million in 2013 and was considered the largest market share holder. However, in the coming six years, the fall protection equipment segment is projected to the fastest growing segment at a CAGR of 8.8% from 2014 to 2020. Factors contributing to the growth in this segment are rapid rate of industrialization and expanding construction sector.

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Some of the major players changing the face of the global personal protective equipment market are 3M Co., Ltd., Ansell Ltd., JAL Group, Avon Rubber p.l.c., COFRA Holding AG, Alpha Pro. Tech, Honeywell Safety Products, Rock Fall Ltd., Oftenrich Holdings Company Limited (Golden Chang), and Uvex Safety Group among others.

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