Personal protective equipment: Key market research findings
- Need to comply with regulatory standards drives market growth
- Manufacturing sector accounts for a majority of the market’s revenue
- Key vendors – Ansell, 3M, Honeywell, and MSA Safety
The industry experts at Technavio predict the global market for personal protective equipment to grow at a CAGR of around 8% between 2016 and 2020. The growth of this market is fuelled primarily by the mandate to comply with worker safety regulations. Every country has a governing body that looks into the welfare and safety of employees. In the light of recent accidents and reports of unsafe working conditions, these governing bodies are taking measures to ensure that employers follow the regulations on working conditions, employee safety, and the mandatory use of specified PPE by its employees. These bodies also conduct safety inspections at the facilities to ensure the protection of the working environment. During 2015, North America accounted for more than 42% of the overall market share to become the dominant shareholder in the global personal protective equipment market. Stringent worker safety regulations and high worker compensation in the event of workplace injuries are expected to facilitate the adoption of personal protective equipment in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the personal protective equipment segments based on the end-user.
“The market is currently witnessing an upsurge in the implementation of smart and wearable technology for monitoring purposes to avoid workplace accidents. Wearable devices have wide applications in industries like mining and construction as they support various business activities. One of the uses of wearable technology is to ensure the successful implementation of PPE and enhance employee productivity, safety, and long-term cost savings by preventing accidents on workplaces,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
In 2015, the manufacturing segment accounted for more than 21% of the overall market revenue to become the primary revenue generating vertical in the global personal protective equipment market. This sector forms the backbone of any economy that aims to become self-sufficient and rely less on imported products. The US and China lead the manufacturing sector in terms of output. The manufacturing industry encompasses a variety of industries that produce wood and wood products, metal, pulp and paper, and others. The demand for PPE depends on the type of manufacturing industry and the work environment it entails. Vendors offer a broad range of products for the manufacturing industries, prioritizing suitability and selection.
The key vendors on the global personal protective equipment market include Ansell, 3M, Honeywell, and MSA Safety. Vendors are employing advanced material and processing technologies to offer high-performance products. Apart from performance- and comfort-enhancing designs, vendors are focusing increasingly on developing products that are appealing to style-conscious users. Each of the top-five vendors has lead specific segments of the global PPE market through expertise. In a product category like PPE, which has a long product life cycle, vendors need to differentiate products in terms of quality, functionality, or price.
A more detailed analysis is available in the Technavio report, Global Personal Protective Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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