According to a report published by Transparency Market Research, the global personal protective market, as against its value of US$33,952.5 million in 2013, is anticipated to reach US$55,509.1 million by 2020. If the estimates hold true, the market is poised to exhibit a positive 7.3% CAGR between 2014 and 2020. The report is titled “Personal Protective Equipment Market - Global Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020” and is available on the company website for sale. Stringent regulations imposed by governments and growing awareness regarding workplace safety are the key factors driving the global personal protective equipment market. Apart from this, increasing foreign investment and rapid industrialization witnessed by developing economies of Asia Pacific, South America, and Africa are also likely to boost the demand for personal protective equipment.
Personal protective equipment includes head, eye and face protection, hearing protection, protective clothing, respiratory protection, professional footwear, fall protection, hand protection and others. Apart from this, personal protective equipment also finds application across various industries including construction, manufacturing, oil and gas, chemicals, food, pharmaceuticals, transportation and others. The others segment include government usage, unorganized sector, small-scale manufacturing utilities and service stations among others.
This report has been segmented by application, by type and by geography. The study highlights current market trends and provides the forecast from 2014 to 2020. We have also covered the current market scenario for personal protective equipment and highlighted future trends that will have an impact on demand. By geography, the market has been segmented into North America, Europe, South America, Middle East, Russia, Asia Pacific and Africa. The present market size and forecast until 2020 has been provided in the report. The report also analyzes macro economic factors influencing and inhibiting growth of the personal protective equipment market.
Professional footwear is the largest segment for personal protective equipment by type. However, the fall protection segment is the fastest growing segment for personal protective equipment. The fall protection segment was valued at USD 2,789.5 million in 2013. Apart from this, head, eye and face protection is also one of the major segments for personal protective equipment. The head, eye and face protection segment was valued at USD 5,900.2 million in 2013.
The personal protective equipment finds application across construction, manufacturing, oil and gas, pharmaceuticals, transportation and chemicals among others. The application of personal protective equipment in the manufacturing sector held the largest share. The manufacturing segment was valued at USD 6,714.1 million. The increasing awareness about workplace safety and government regulations are some of the major factors fuelling the demand for personal protective equipment in the manufacturing sector. However, the exponential growth in the logistics industry is boosting the demand for personal protective equipment in the transportation segment. The application of personal protective equipment in transportation sector is the fastest growing market. The transportation segment was valued at USD 2,604.6 million in 2013.
Major industry participants are 3M Co., Alpha Pro. Tech, Ltd., Ansell Ltd., Avon Rubber p.l.c., JAL Group, COFRA Holding AG, Oftenrich Holdings Company Limited (Golden Chang), Honeywell Safety Products, Rock Fall Ltd. and Uvex Safety Group among others.
Online journal Of Personal Protective Equipment Market : http://www.tmrblog.com/2015/08/personal-protective-equipment-market_26.html
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