Safety apparel: Key market research findings
- North America dominates the market geographically
- Manufacturing segment accounts for a majority of the market’s revenue
- Key vendors – 3M, Ansell, Honeywell, and Lakeland
Technavio’s market research analysts predict the global market for safety apparel to grow at a CAGR of over 8% between 2016 and 2020. The growth of the market can be accredited to the increasing focus given to the quality and customization of safety apparel. Vendors are investing in state-of-the-art manufacturing units as well as R&D to increase the comfort and ease of use of the products while ensuring optimal protection for the wearer. Several brand manufacturers are placing great emphasis on product customization and flexibility to meet customer demands and expectations. During 2015, the global safety apparel market was dominated by North America by accouting for almost 42% of the overall market share.
The new market research report from Technavio presents a breakdown and analysis of the safety and apparel segments based on the industry.
“Wearable devices have extensive applications in industries like mining and construction as they support various business activities. Wearable technology can be used to ensure the use of PPE and enhance productivity, safety, and long-term cost savings in industries by preventing accidents on workplaces. Wearable technology aids employers to encourage the use of wearable devices and beacons to monitor the use of PPE by workers. The wearable device uses Bluetooth technology to search for the beacon fitted onto a nearby PPE,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
During 2015, the manufacturing segment accounted for more than 19% of the overall market revenue to become the key revenue generating vertical of the global market. The future growth of the manufacturing industry will be concentrated in developing countries like India. The number of new manufacturing industries in India is increasing primarily due to the availability of cheap labor and favorable policy reforms that have improved the ease of doing business in India.
The key vendors in the global safety apparel market include 3M, Ansell, Honeywell, and Lakeland. The focus on R&D activities and investments by the market leaders ensure that product innovation is always the top priority. Although the top-five vendors cater to the majority of the market, private labels are launching their PPE at lower prices in an attempt to use sales volumes to gain market share. This has led to the entry of several new vendors in the global safety apparel market. However, these new vendors are limited to producing equipment that requires low technical knowledge and expertise.
A more detailed analysis is available in the Technavio report, Global Safety Apparel Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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