Personal Protective Equipment (PPE) Market size is predicted to touch $67.61 billion by end of 2023 and register CAGR of 7.3% during forecast period.Growing employee safety and health issues coupled with rising industrial fatalities across unregulated industries will promote personal protective equipment (PPE) industry growth.
Technological breakthroughs that focus on sustainable low priced materials can be critical for ensuring a steady personal protective equipment industry price trend and retain penetration. Powerful monetary and infrastructure pointers in emerging nations like India and China are predicted to drive the PPE industry size in future. OSHA (Occupational safety and health administration) security guidelines in U.S. and Europe are predicted to push industry growth.
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Hand protectionsegment is forecast to register CAGR of 7% during forecast period with industry size evaluated at $8.65 billion for 2015 and predicted revenue of $14.8 billion by end of forecast period. Chemical, pharmaceutical, production & construction and food industries are the key demand opportunities for the segment.
Protective footwear segment is predicted to gain personal protective equipment (PPE) industry share and contribute more than 18% in terms of revenue by 2023. Other product segmentsinclude respiratory protection, head, hearing and face.
Production applications are predicted to contribute a substantial amount to the global personal protective equipment (PPE) market share.The segment contributed about more than 20% of industry revenue for 2015 with CAGR of more than 7%.
Transport applications contributed near about $5.1 billion for 2015 and the segment offers substantial business & revenue growth opportunities for the industry.
Construction is yet another highly expanding application with predicted CAGR of 7.4% by end of forecast period. Overhead prices related with workplace accidents are predicted to enhance its industry penetration in future.
Oil & gas personal protective equipment industry size was $6 billion for 2015 and is predicted to surpass revenue of $11.1 billion by 2023.
Pharmaceuticals, chemical processing and food technology are few of other key applications of the industry.
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U.S. personal protective equipment (PPE) market dominated the global industry with more than $12.4 billion revenue for 2015. Product innovation along with changing requirements for protective gear that blends security with attractiveness will drive the industry development. Further, growing occupational casualty rate in the region is also predicted to drive the industry growth.
Europe is predicted to experience moderate industry expansion in future owing to slow production index of European Union and weak economic pointers.
Asia Pacific will continue be most attractive industry destination in coming years with estimates of more than $13.1 billion by end of forecast period.Strong emerging economies like India and China are predicted to contribute towards the industry growth in the region.
MEA and Latin America PPE market size is predicted to register a CAGR of more than 7% during the forecast timeframe.
Key industry players profiled in the report include:
- MSA Company
- Oftenrich Holdings Company Limited
- Uvex Safety Group
- JAL Group Italia Srl
- 3M Company
- Ansell Limited
- Alpha Pro Tech Limited
- COFRA Srl
- Rock Fall Limited
- BartelsRiegerAtemschutztechnik GmbH & Co. KG
- Gateway Safety Incorporation
Avon Rubber p.l.c
Author Name : Dhananjay Punekar