Selbyville, Delaware, July 20, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Above The Waist PPE Market was estimated at USD 27.65 billion in 2021 and is expected to surpass a valuation of $43.30 billion by 2028, progressing at a CAGR of 6.5% from 2022 to 2028. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size & estimations, and major investment pockets.
Above the waist PPE products include helmets, bump caps, spectacles, goggles, face shields, welding shields, earmuffs, earplugs, and other products. These products ensure the safety of personnel working in hazardous environments. In recent years, rapid research & development in the pharmaceutical sector has propelled product demand. Moreover, the expansion of the industrial sector around the world, along with the growing oil & gas industry, is expected to supplement market growth over the forecast period.
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Above the waist PPE products play a vital role in the chemical industry which involves tasks like handling toxic chemicals that can cause skin allergy, burning, irritation, and rashes. Therefore, since above the waist PPE for hand, eye, and face protection help avoid such injuries, it is poised to see an upsurge in product demand in the chemical sector. Hence, from the end-use point of view, the above the waist PPE market share from the chemical segment is anticipated to register a valuation of around $3.45 billion by the end of 2028.
On the basis of channel, the industrial MRO segment was valued at more than $22.20 billion in 2021 and is estimated to grow at a CAGR of over 6.5% through the analysis period. This growth is attributed to surging demand for materials that support seamless operational activities in the industry. In addition, bulk purchases made by companies in the sector to prevent PPE shortage are likely to augment product demand over the study timeframe.
Key reasons for above the waist PPE market growth:
- Rising product uptake in oil & gas industry.
- Prevalent product adoption in chemical industry.
- Increased application in industrial MRO operations.
- Mounting demand in Asia Pacific pharmaceutical sector.
- Surging need for hearing protection in construction & mining activities.
2028 forecasts show the ‘hearing protection’ segment retaining its dominance:
By product, the hearing protection segment is foreseen to reach a valuation of nearly $2.60 billion by 2028, growing at roughly 5.5% CAGR through the review timespan. Continual utilization of heavy machinery and the noise generated by them can lead to hearing problems in workers. This has escalated the need for earplugs and earmuffs in the construction & mining industries to protect wearers against hearing problems, which is set to impel segmental adoption.
Asia Pacific to continue its top status in terms of revenue:
In terms of region, the Asia Pacific above the waist PPE market garnered about $5.70 billion in revenue in 2021 and is primed to amass substantial gains over the assessment period. The market growth in the region is supported by the fast-growing domestic construction industry. The upsurge in construction activities due to better living standards of the population, together with increasing occurrences of accidents in the pharmaceutical and transportation industries are foreseen to impel market growth in the APAC region.
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Impact of COVID-19 pandemic on above the waist PPE market:
The COVID-19 outbreak had a two-fold impact on market growth. As construction and industrial operations were on hold, the demand for PPE products declined rapidly. On the contrary, increasing clinical testing and research in the pharmaceutical industry fueled the uptake of PPE products. Notably, the shortage of PPE products due to lack of working personnel hampered product supply. Numerous countries exported PPE products to nations facing a shortage of PPE products for respiratory protection during COVID-19. Thus, the rise in product demand globally has been lucrative for the business in recent years.
Leading market players:
Major industry players analyzed in the global above the waist PPE industry report include 3M, Jackson Safety, SPI, Honeywell, Radians, Drager, Sellstrom, Hellberg, Haven Technologies, MSA., and others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
