Wednesday, 31 August 2016

Global Personal Protective Equipment Market - Rising Concerns over Occupational Safety Drive Growth

A report published by Transparency Market Research (TMR) on the global personal protective equipment market estimates the market to register a CAGR of 7.30% between 2014 and 2020.  The market is likely to increase from an overall value of US$34 bn in 2013 to an expected value of US$55.5 bn by the end of the forecast period. The study is titled, “Personal Protective Equipment Market - Global Industry Analysis, Trend and Forecast 2014 - 2020.

Personal protective equipment (PPE) refers to wearable equipment that protects the wearer's body from injuries, infections, and various physical, electrical, heat-borne, fire-borne, chemical-borne, and perils of airborne particulate matter. Protective clothing, goggles, industrial footwear, and helmets are some of the commonly used personal protective equipment. In the recent times, this equipment has witnessed a remarkable rise in demand. The increased concerns over the safety of employees at work have propelled the global market for personal protective equipment significantly.

According to the report, the worldwide personal protective equipment market is likely to gain significant impetus from the untapped opportunities present in the developing economies of Asia Pacific and South America over the forecast period. However, the growth of this market is anticipated to be restricted in the coming years, as the rising automation of manufacturing processes has started to limit manual interference in operations.

The report analyzes the worldwide personal protective equipment market on three fronts: Its regional spread, type of equipment, and application. Europe, the Middle East, North America, South America, Asia Pacific, Russia, and Africa have been identified as the key regional markets for personal protective equipment in this research study.

Based on the type of equipment, the market has been classified into face, head, and eye protection equipment, hand protection, fall protection, respiratory protection, hearing protection, protective clothing, professional footwear, and other personal protective equipment. Among these, the professional footwear segment acquired the leading position in 2013 with a whopping US$7 bn. However, the fall protection segment, which stood at US$2.7 bn in 2013, is likely to post the fastest growth rate during the forecast period at a CAGR of 8.80%, notes the study.

By application, the report has segmented the market into transportation, pharmaceuticals, food, chemicals, oil and gas, manufacturing, construction, and several other application. In 2013, the manufacturing segment exhibited the highest consumption of personal protective equipment, accounting for a total revenue of US$6.7 bn. However, the application of such equipment in the transportation industry is likely to increase at the fastest CAGR of 7.80% during the forecast period. The rapid increase in the logistic operations around the world is projected to stimulate the demand for personal protective equipment in this industry over the next few years.

Alpha Pro Tech Ltd., COFRA Holding AG, Oftenrich Holdings Co. Ltd., Uvex Safety Group, JAL Group, Avon Rubber Plc, Honeywell Safety Products, Rock Fall Ltd., 3M Co., and Ansell Ltd. are the major international manufacturers of personal protective equipment, mentioned in this report.

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