Technavio, a tech-focused market research firm, has published a new report on the global coverall market, which is expected to experience a growth rate with a CAGR surpassing 8% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global coverall market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global coverall market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global coverall market for 2015 (market share %)
|
North America |
35.11% |
|
Europe |
32.17% |
|
APAC |
23.47% |
|
ROW |
9.26% |
Source: Technavio
North America: largest revenue generating region for coverall market
The improving economy and the increasing investments in various regions of North America have boosted the construction industry in the region. The US economy is expected to grow by 2.9% in 2016, up from 2.57% in 2015, an estimation by US Bureau of Economic Affairs. The increasing credit flow in the economy has resulted in increasing spending on housing constructions. The demand for coveralls increase based on the increasing demand for waste management and treatment. According to Abhay Sinha, a lead analyst at Technavio, “Many big companies are planning to expand the chemical production in the US. This will boost the sales of coveralls in the region. The coverall market in North America is expected to grow at a CAGR of more than 8%.
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Coverall market in Europe
Health and safety systems differ across Europe, according to the Eurostat. The standardized fatal injury per 100,000 workers rate was lowest in the UK at 0.58, followed by 0.9 in Germany, 1.29 in Italy, 2.64 in France, and 1.99 in Spain. The highest standardized fatal injury rate in Europe was recorded in Turkey. The metal products manufacturing sector in Europe registered the highest number of workplace accidents with 15,699 accidents in 2013. It was followed by the building construction sector with 14,286 accidents and the main metal industries with 12,601 accidents. Employers invest in protective clothing such as coveralls and gloves to prevent workplace injuries, which drives the demand for coveralls. The market is expected to post a CAGR of close to 8% during 2015-2020.
Coverall market in APAC
APAC is the fastest growing market in the global petrochemical industry. The petrochemical industry in APAC will grow in the forecasted period, with the rising consumption of petrochemicals in China. The development of mining- and gas-related infrastructure projects in Western Australia is contributed by the growing demand for commodities from China. This also boosted the residential and non-residential sectors in cities that support Australia’s mining infrastructure. The increasing investment in various industries in APAC will directly increase the demand for coveralls from the region. For instance, the growing urban population in Japan, which will grow from 115.3 million in 2010 to 119.4 million by 2020, will generate demand for new residential construction.
Coverall market in ROW
In 2004-2007, the construction market in South Africa experienced significant growth, since large investments were made in preparing to host the 2010 FIFA World Cup. The construction market in Kenya is growing at a higher rate compared to other countries in Africa. The number of building permits in Kenya doubled in 2014, increasing the number of construction projects in 2015. In Brazil, business confidence has decreased over a period of time, which has affected the commercial construction market in the country. In the Gulf Cooperation Council countries, the number of manufacturing factories increased from 13,035 in 2010 to 16,292 in 2014.
The top leading vendors operating in the global coverall market are:
- Ansell
- Honeywell
- Lakeland Industries
- 3M
Other prominent vendors in the market include ASATEX, Australian Defense Apparel, Ballyclare, Bennett Safetywear, Bulwark FR, DuPont, International Enviroguard, Kappler, Kermel, Kimberly-Clark, MSA Safety, NASCO, Sioen Industries, Siyasebenza Manufacturing, True North Gear, and Workrite Uniform Company.
A more detailed analysis is available in the Technavio report titled, ‘Global Coverall Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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