Personal Protective Equipment market to exceed USD 70 billion by 2024
According to a new research report by Global Market Insights, Inc. Personal Protective Equipment (PPE) Market is projected to reach USD 70 billion by 2024.
Personal protective equipment (PPE) is used to protect body from infection, injury, and accidental hazards along with enhancing workplace safety for the employees. It includes protective helmets, clothing, goggles, gloves, respiratory protection, and footwear. The equipment protects wearers from electrical, physical, biohazards, chemical, heat and airborne particulate matter. Growing investments in PPE equipment in maintaining industrial workers' safety along with availability of diverse product range is likely to favor PPE industry growth.
The manufacturing industry is a labor-intensive sector and involves various processes along with hazardous chemicals, gasses and equipment which may boost product demand. Rising rates of fatal accidents leading to injuries, loss of life and additional cost of compensation has promoted the use of safety equipment. Rapid industrialization along with growing investments has led to the development of various industries such as oil & gas, chemical, mining and steel production, thereby driving PPE industry growth.
OSHA has issued regulations regarding occupational safety to control hazards effectively at their sources in order to protect employees. PPE equipment minimizes exposure to variety of hazards. OSHA is responsible for overseeing improved and safe working conditions for workers mainly in areas of potential hazards and design standards and regulations which actively involve workers' safety across various industries. Increasing awareness regarding workers' safety, along with various manufacturers providing proper fitting equipment in compliance with regulatory norms may have a positive influence on personal protective equipment industry growth.
The German PPE market size is anticipated to surpass USD 5.5 billion by 2024. In the food processing industry, food handlers may wear safety equipment ranging from gloves, apron, and caps, mainly to avoid cuts, injuries to the skin & hands, and to avoid health risks to consumers from contaminated food ingredients.
PPE is vital to the mechanical, mining, chemical, oil & gas, construction, manufacturing industries. This equipment helps workers to avoid vapors, dust, fog, mist, smoke and other harmful chemicals & gases. Increasing R&D spending on technological innovation in this sector may stimulate industry growth. The effectiveness of PPE depends upon workers following instructions and procedures correctly.
The PPE market size from oil & gas application may exceed to USD 12 billion by 2024. Fuel deposits are found in natural underground reservoirs both offshore and onshore. These fields are then drilled and pumped by using heavy machinery. Workers need strong protection against all of the potential dangers including oil spills, flammability and falls. Being able to work comfortably in their protective garments will be a factor driving market demand.
The India PPE market size is anticipated to surpass USD 2 billion by 2024. Rapid industrialization and technological advancement is increasing the pace of activity the construction sector in India, owing to township housing development. PPE for this sector includes safety harnesses, safety glasses, hard hats, and welding helmets. This sector accounts for major operational injuries, which may positively effect PPE industry growth.
The PPE market size from chemical application is anticipated to exceed USD 7.5 billion by 2024. PPE is used by workers to eliminate exposure to harmful chemicals. Chemicals can cause injury through direct skin contact, by inhalation of fumes vapors and dust. Typical products utilized include skin protection, eye protection and face shields, all of which would drive product demand.
The global PPE market share is competitive and moderately fragmented and includes companies like 3M, Ansell Ltd., Honeywell, JAL Group, MSA and DuPont. Companies are focused on manufacturing innovative safety products which can have utilizations in various end-use industry.
Browse key industry insights spread across 325 pages with 385 market data tables & 28 figures & charts from the report, “Personal Protection Equipment Market Size by Product (Head [Safety Helmets & Hard Hats, Bump Caps], Eye & Face Protection [Face Protection, Eye Protection – Plano], Hearing Protection [Cap Mounted, Over the Head Type, Disposable], Protective Clothing, Respiratory Protection [SCBA – Fire Service, SCBA – Industrial, APR – Disposable, Emergency Escape Devices], Protective Footwear, Fall Protection [Personal Systems, Engineered Systems], Hand Protection), By Application (Construction, Oil & Gas, Manufacturing, Chemicals, Pharmaceutical, Food, Transportation), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, France, Russia, China, India, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
Source: Global Market Insights