Rapid industrialization along with stringent regulations and greater focus on workplace safety has boosted the growth of the personal protective equipment (PPE) market. Adoption of safety measures not only reduces the costs associated with workplace-related accidents and illnesses, but also wins the trust of stakeholders and enhances the overall image of an organization. According to Technavio’s analysts, the global MRO-PPE market, which was valued at $34 billion in 2015, is poised to grow at a CAGR of over 6% by 2020.
Major drivers of the MRO-PPE market
Increased awareness of employee safety
To begin with, regardless of country or organization, employee safety has become a universal concept. Employees themselves are often well aware of safety protocol, and with the establishment of global regulatory policies and compliance of safety norms, several organizations have made the use of PPE mandatory. This is especially true in the case of Europe, which dominated the global PPE market in 2015. The main reasons for this include stringent regulations and increased awareness regarding the risks associated with inhalation of contaminated air in industries that manufacture products such as chemicals and asbestos.
Based on the relevant data obtained from the investigation of different types of injuries and accidents, it has become easier to determine the most appropriate type of PPE that should be provided to employees.
Surge in construction activities
While developed economies are witnessing construction activities that have more to do with repair and renovation, the developing world has a large number of construction projects lined up. Several countries in APAC, the Middle East and Africa have witnessed increased investments in infrastructure and housing projects, which in turn is driving the demand for PPE. Since construction involves activities such as repair, demolition, erection, painting, earth moving, digging, drilling, and blasting, user compliance in the construction industry is much higher compared with other industries.
Geographical Segmentation of the Global PPE Market 2015 (US$ 5.1 billion)
Source: Technavio
Compliance to safety standards
The International Safety Equipment Association and the OSHA are regulatory bodies that develop safety standards, as well as monitor the use of PPE in labor-intensive operations, especially in regions such as Africa. Often these standards need to be strictly complied with by organizations to ensure a high level of safety in the workplace. Particularly in Latin America, there has been a significant number of workplace fatalities, which have led to organizations like CSA and ANSI forcing employers to adopt personal protective equipment to ensure the health and safety of personnel.
Innovation in the sphere of PPE
The PPE market has been undergoing a great deal of innovation in recent years. With the integration of Bluetooth and wireless communication technologies, it has become far easier to monitor work conditions, hazards, and the overall well-being of those working in hazardous conditions. Wearable technologies such as biometrics help in tracking movements of workers, measuring their proximity to danger zones and exposure to harmful elements/chemicals.
Adoption of end-of-service life indicators
In a bid to eliminate the risk of workers being exposed to workplace hazards, several organizations have switched to equipment that incorporates the use of end-of-service life indicators. Unlike manual inspection and judgement, these indicators effectively enable workers to change their equipment based on their work hours, exposure levels, and environmental conditions. The demand for PPE with end-of-service life indicators has also contributed to the growth of the market.
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