Amsterdam, NL - May 14, 2020 -
Personal Protective Equipment protects the user against health or safety risks at work. It includes items such as safety masks, gloves, protective eye protection, good visibility shoes, protective footwear, safety harnesses, and respiratory protective equipment (RPE). The PPE is the first line of defense for monitoring or avoiding exposure to hazards. The PPE protects the worker from possible exposure to hazards. In certain cases, PPE is mandated by legislation or internal protocols and provides additional control to assist in protecting employees. In manufacturing sector, the laborers are encouraged to use the PPEs, and these are monitored through various incentive programs.
The revenue driver in this sector are the Stringent Regulatory Framework. Authorities such as OSHA have enlisted certain regulations that require employers to protect their employees from any danger they may experience at work. OSHA provides extensive assistance across a variety of resources including professional advice on effective health and safety strategies, policy proposals, seminars for staff, community support programs, strategic partnerships, training and education, and more. Revised safety guidelines were issued by ANSI (American National Standard Institute) and EU (European Union) urging PPE manufacturers to produce comfortable ergonomic products.
The Personal Protecting Equipment market is affected by sudden surge in the end user markets such as healthcare, manufacturing, transportation markets. Adoption of the stringent government regulations and increased awareness about the importance of workplace safety are the key drivers of the market. With the increased rate of industrial development, the likelihood of workplace hazards is expected to increase. In the past few years, around 317 million non-fatal and 321000 fatal workplace accidents occur worldwide. This has prompted companies to raise awareness of health risks and adhere to workplace health and safety standards.
The PPE market has gained importance due to the sudden surge in demand due to the Corona Virus. The local legislation in a few countries have implemented the use of mask and gloves for common citizens. The healthcare staff are in the highly vulnerable category due to the constant exposure to the COVID infected patients. The PPE in the healthcare sector has evolved from a part suits to full body suits. These suits are very expensive and are required to be worn through the entire 8-10-hour shift. The future advancements in these suit design would be around reducing the cost, possibility of reuse and increased comfort.
The report titled “Global Personal Protective Equipment Market” is segmented by Region, by Type, and by End User Industry. The Regional Segments are North America, Europe, APAC, Middle East, LATAM and ROW. The End User Industry is sub segmented Manufacturing, Construction, Oil and gas, Healthcare, transportation, firefighting, food industry. By Type, the market is segmented into Hands and Arm protection, Protective clothing, Foot and leg protection, Respiratory Protection, Eye and Face Protection, and Other types.
The total Global market for Personal Protective Equipment is estimated at around USD 58-59 Billion in 2020 and the market is expected to grow to around USD 86-87 Billion by 2028. The CAGR of the market is accounted for at around 5%. North America Market is expected to account for around one-fourth of the market, is driven by increased safety awareness and regulations mandating the use of protective equipment in different industries.
The report “Global Personal Protective Equipment” is segmented based on Region, End User Industry, and Type. The study period is 2018- 2028 and the forecast period is 2020-2028.
Reasons to buy:
- The report would help any new entrants into the market to identify the key trends which would impact the market during the forecast period, 2020-2028.
- The report covers all the drivers, restraint and challenges in the Personal Protective Equipment in detailed.
- The new entrants in the market would understand the key historical demand across the countries. The country analysis section has been segmented by sector wise expenditure and COVID19 impact on PPE market country wise.
- The key technologies that are expected to shape the market during the forecast period are covered in detailed.
- The report would help the existing players to understand the future market potential across types and Geographies.
- The sales team of Personal Protective Equipment manufacturers could this report for their sales planning over the next few years and also plan Region specific strategies.
- The investment bankers focused on this sector could use the report to identify hot spots in this market.