Global Personal Protective Equipment Market Is Likely To Grow At A Robust CAGR Of Around 6.3% By 2032- FMI
The global personal protective equipment market is projected to reach around US$ 55.6 Billion in 2022. The sales of the personal protective equipment market are anticipated to rise at a steady CAGR of around 6.3% between 2022 and 2032, totaling over US$ 96.4 Billion by 2032. A rising focus on improving worker’s safety across various industries is propelling sales of the personal protective equipment market.
Personal protective equipment (PPE) is a bunch of safety products that include helmets, protective clothing, goggles, gloves, face shields, masks, etc. These products are designed in such a way that they efficiently protect the wearer’s body from any injury or infection at the workplace. The demand for personal protective equipment has surged due to rising awareness of workplace safety across diverse industries.
There has been witnessed a substantial rise in the number of workplace incidents over the last few decades all over the world which led to the surge in the personal protective equipment market. Owing to rapid industrialization and frequent outbreaks at workplaces have led to the strengthening of the safety of workers in several industries.
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- According to the International Labor Organization (ILO), an estimated 2.3 million people around the world succumb to work-related accidents or diseases every year. Since this number has been increasing drastically, governments realized an urgent need for personal protective equipment resulting in its higher sales.
- People working in hazardous environments are more likely to catch infections and injuries. Due to this, they need proper protective equipment in order to reduce exposure to hazards. This is one of the major factors resulting in growing sales of personal protective equipment in the global market.
- The personal protective equipment protects workers from all the hazardous chemicals, radiations, currents, biohazards and heat that makes the PPE an item of necessary clothing to wear. Backed by these factors, surging sales can be seen in the personal protective equipment market during the forecast period.
- Implementation of stringent regulations pertaining to improving the safety of workers will continue to generate growth prospects for the personal protective equipment market in the future.
- Due to increased safety awareness, key market players in the personal protective equipment market are vigorously investing in research and development activities to have an edge in the market.
- North America is projected to lead the personal protective equipment market owing to the strict government regulations regarding workers’ safety and technological advancements in the healthcare sector.
3M Company, Rahman Group, Oftenrich Holdings Co. Ltd., Golden Chang, JSP Limited, Interspiro, Honeywell Life Safety, Gateway Safety Inc., Ansell Healthcare Products LCC, Wells Lamont Industry Group, Avon Rubber p.i.c., JAL Group, COFRA Holding AG, Avon-ISI, Alpha Pro Tech Ltd., Eurodress GmbH, Jallatte Group, Berkina NV, Z and V Group are some of the key companies profiled in the full version of the report.
These market players are constantly upgrading their product portfolios. They are using innovative materials that could significantly enhance the safety of workers in diverse industries. Besides this, they are partnering with end-use industries such as healthcare and oil & gas for supplying a wide range of personal protective equipment.
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More Insights into the Personal Protective Equipment Market
According to FMI analysis, North America is anticipated to dominate the personal protective equipment market owing to the presence of regulatory organizations like OSHA, rising awareness about personal safety, the rapid growth of the healthcare industry and advancements in technologies.
Huge adoption of personal protective equipment can be seen in developed nations such as the United States due to stringent regulatory policies and an increase in the number of workplace fatalities.
It is increasingly becoming mandatory for workers to wear personal protective equipment in hazardous working setups. The majority of end-user industries are encouraging workers to stay protected when working under dangerous circumstances.
Key market players in North America are constantly innovating by developing highly resistant personal protective equipment from biodegradable and recyclable materials. This will help them to eliminate the risk of environmental pollution.
Owing to increasing investments in oil & gas and petrochemicals industries will create growth opportunities for the market players in North America during the forecast period.
The Asia Pacific is seen as a lucrative market for personal protective equipment owing to rapid industrialization, low penetration of automation, favorable government support and availability of raw materials and personal protective products at cheaper costs.
China is emerging as the fastest growing region along with a major producer, user and exporter of personal protective equipment. The country has a well-established base of end-user industries like chemicals, automotive, oil & gas, etc. which continues to bolster sales in the personal protective equipment market.
Key Segments Profiled in the Personal Protective Equipment Industry Survey
By Product Type:
- Head Protection
- Eye and Face Protection
- Hearing Protection
- Hand and Arm Protection
- Fall Protection
- Protective Clothing
- Professional Footwear
- Foot & Leg Protection
- Respiratory Protection
By End-Use Industry:
- Pharmaceutical Manufacturing
- Food Manufacturing
- Power & Energy
- Oil & Gas