Pune, Sept. 08, 2020 (GLOBE NEWSWIRE) -- The global personal protective equipment market size is expected to reach USD 92.86 billion by 2027, exhibiting a CAGR of 7.4% during the forecast period. The increasing construction activities in developing nations is predicted to create lucrative business opportunities for the market, states Fortune Business Insights, in a report, titled “Personal Protective Equipment Market Size, Share & PPE Industry Analysis, By Product (Head Protection, Eye & Face Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Fall Protection Protective Footwear, Hand Protection, and Others), By Application (Construction, Manufacturing, Oil & Gas, Chemical, Food, Pharmaceutical, Transportation, and Others) and Regional Forecast, 2020-2027.” The market size stood at USD 52.43 billion in 2019.
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The Report Lists the Main Companies in the Personal Protective Equipment Market:
- Honeywell International, Inc. (U.S.)
- 3M (U.S.)
- Ansell Ltd. (Australia)
- Alpha ProTech (Canada)
- Avon Protection (UK)
- DuPont (U.S.)
- COFRA S.r.l. (Italy)
- Uvex Group (Germany)
- Mallcom (India) Limited (India)
- MSA Safety (U.S.)
- Blue Eagle (Taiwan)
- Udyogi Plastics Pvt. Ltd
- Gateway Safety, Inc.
- Radians, Inc.
- Rock Fall (UK) Ltd
- TEIJIN LIMITED
- TenCate Fabrics
- Acme Safetywears Limited
- Towa Corporation
- Supermax Corporation Berhad
- MCR Safety
- Lakeland Inc.
- W. L. Gore & Associates, Inc.
- Bullard
- KARA
Market Driver:
Rising Safety Concerns to Spur Market Demand
The implementation of safety measures about worker’s health and safety at the workplace can be a vital factor augmenting the growth of the market. The PPE includes a range of gear safety helmets, safety footwear, protective clothing, earplugs, safety goggles and eye wares, protective gloves, emergency escape devices, and full-body harnesses. Moreover, the increasing fatality rate of workers at the workplace has increased the need for PPE.
As per the International Association of Oil & Gas Producers (IOGP), there was an 8% drop in the fatal accident rate and drop in the fatalities in the oil & gas industry from 33 in 2017 to 31 in 2018. The rising adoption of PPE as a precautionary measure for workers in industries will have an excellent effect on the market. Also, the rising initiatives to reduce work-related hazards will create opportunities for the market. For instance, as per The Occupational Safety and Health Act employers are responsible for providing safe and healthful workplaces for their employees.
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The personal protective equipment market report comprises of:
- A comprehensive study of the market
- Key insights into the regions
- Latest developments
- competitive landscape
- Product analysis
Adoption of Strategies by Key Players to Augment Market
The eminent players are adopting strategies such as strategic partnerships, new product launch & development, mergers & acquisitions, and agreements to enhance their presence. For instance, in November 2019, Ansell Limited signed a partnership with ProGlove, an industrial wearables provider, to develop hand protection solutions. This partnership will highlight IIoT (Industrial Internet of Things) innovation in growing Ansell’s PPE business and to create a safer work environment.
The development will also provide the workers with digital assistance for choosing the right protective gear. Besides, the companies are enriching their product portfolio by delivering high-end face protection glass, night lamp holder, and sensors to ensure workers’ safety. Nevertheless, the rising investment in R&D and technological innovation by manufacturers will aid the expansion of the market.
Regional Analysis:
High Adoption of PPE in Healthcare to Favor Growth in North America
The market in North America is expected to observe a high growth rate during the forecast period owing to the rising cases of fatal accidents in workplaces. The growing awareness among employers and employees will foster the healthy growth of the market in North America.
According to the U.S. Bureau of Labor Statistics, in the U.S., a record of 5,250 workers died from a work-related injury in 2018. The rising initiatives for the adoption of PPE in the healthcare sector will further enable the speedy expansion of the market in the region. Europe is expected to rise tremendously owing to the increasing government support for the use of PPE. Asia Pacific is predicted to grow rapidly owing to the increasing infrastructure development and industrialization in India, Vietnam, and China. The growing demand for PPE in the construction industry will boost the market in Asia Pacific.
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https://www.fortunebusinessinsights.com/personal-protective-equipment-ppe-market-102015
Key Development:
August 2019: Avon Rubber announced that it has signed an agreement for 3M's ballistic protection business and the rights to the Ceradyne brand for an initial cash consideration of around USD 91 million.
May 2019: MIPS announced the acquisition of a Canadian helmet technology brand, Fluid Inside. This
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