Technavio, a tech-focused market research firm, has published a new report on the global high-visibility clothing market, which is expected to experience a slow but steady growth rate with a CAGR of close to 7% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of global high-visibility clothing 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 golf equipment market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global high-visibility clothing market for 2015 (market share %)
|
North America |
35.17% |
|
Europe |
32.24% |
|
APAC |
22.84% |
|
ROW |
9.75% |
Source: Technavio
North America: Largest revenue generating region for high-visibility clothing
The global high-visibility clothing market in North America was valued at almost $384 million in 2015 and is expected to grow at a CAGR of about 6% by 2020. Building construction, heavy and civil engineering construction and specialty trade contractors attribute to the rising demand for high-visibility clothing in the North American market. These segments are involved with the construction of highways, dams, and utility systems and the fatalities are high due to low visibility. Such constraints have raised the requirement for protective clothing and high-visibility clothing in the North American market.
“The expansion in the industries like shale oil and gas and railroad infrastructure construction will have a positive impact on the high-visibility clothing in the North American market. The demand for new railroads and the repair and maintenance of old ones will require more protective clothing for the safety of the workers. Sand and chemicals are used for shale formations which in turn will increase the demand for high-visibility clothing. Development and increase in construction activities in the region will propel the growth in North American market in the coming years,” says Abhay Sinha, a lead analyst at Technavio, specializing in research on new research areas.
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High-visibility clothing market in Europe
The global high-visibility clothing market in Europe was valued at around $351 million in 2015 and is expected to grow at a CAGR of almost 6% by 2020. The European Commission is introducing international standard involves updates that emphasize the lifecycle of high-visibility clothing. For instance, class-3 of the new standard states, clothing must feature sleeves with at least one reflector that completely encircles the arm. The development of infrastructures such as road and railroad construction in the European market will result in increased demand for high-visibility clothing. Rising investment in transportation infrastructure by improving rail and road networks will require workers to wear high-visibility clothing during these activities, in turn, augmenting the growth in the market.
High-visibility clothing market in APAC
The global high-visibility clothing market in APAC was valued at almost $249 million in 2015 and is expected to grow at a CAGR of about 8% by 2020. Urbanization in the region is generating a requirement for new residential projects, leading to the further growth of the market. Countries like India and Japan will emerge as the key revenue generating markets in the area. The increased investment in highway construction, infrastructure, and residential projects in the APAC region will increase the demand for protective clothing. Such investments in various industries will indirectly augment the demand for high- visibility clothing during the forecast period.
High-visibility clothing market in ROW
The global high-visibility clothing market in ROW was valued at more than $106 million in 2015 and is expected to grow at a CAGR of about 7% by 2020. Growth in the construction market in South Africa will lead to the growth of the market in this region. The government in the region is taking initiatives to encourage construction activities in various countries in the region. The increased production at existing plants or set up new plants will augment the development in the high-visibility clothing market.
The top leading vendors operating in the global high-visibility clothing market are:
- Ansell
- Honeywell
- Lakeland Industries
- 3M
Other prominent vendors in the market include ASATEX, Bulwark, Ballyclare, Kermel, National Safety Apparel, Nasco Industries, OccuNomix, and True North Gear.
A more detailed analysis is available in the Technavio report titled, ‘Global High-Visibility Clothing Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Safety Apparel Market 2016-2020
- Global Intelligent Hearing Protection Devices Market 2016-2020
- Global Personal Protective Equipment Market 2016-2020
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