The global personal protective equipment market is forecasted to exhibit an impressive CAGR of 6.5% during the forecast period (2020-2029), according to a market study by Fact.MR. Factors predominantly fueling the growth are rapid urbanization coupled with increasingly stringent labor safety laws across the globe, which are mandating the use of personal protective equipment for the involved workforce. The growing investments in high-hazard industries, is in turn, propelling demand for the equipment.
Moreover, advancements in material sciences and manufacturing technologies are increasing the adoption of cost-efficient protective gear. The outbreak of COVID-19 is boosting the demand for personal protective equipment. The widespread outbreak of the infection is creating substantial revenue opportunities for players in the market, as the equipment plays a critical role in controlling the spread of the infection.
"To support the healthcare workers and others working in the frontline, Indian companies and government entities recently placed an order for 15 million personal protective equipment kits. Such steps from various governments will result in a sharp spike in global sales of personal protective equipment," says the Fact.MR study.
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Key Takeaways of Personal Protective Equipment Market Study
Respiratory protection products segment is expected to grow at a tremendous rate owing to awareness regarding the spread of COVID-19 coupled with glaring air pollution levels across the due to increasing industrial production.
Hand & arm protection products segment is projected to account for nearly a quarter of the total market value on the back of rampant construction & mining activities around the world coupled with the COVID-19 outbreak.
Protective equipment for eye, face, and head is anticipated to bestow lucrative revenue opportunities to players backed by hazardous pollution levels across industries and the prevalence of preemptive labor safety measures.
Construction sector is anticipated to the lead global market and contribute to significant value in sales, invigorated by increasing investments in infrastructure in developing economies.
North America will persist dominance as the leading regional market for personal protective equipment, and will account for more 1/4th of overall market value. Moreover, the region is expected to grow more than 5 times in value, on the back of shale gas and oil reserve exploration activities, which employ personal protective equipment.
Asia Pacific is anticipated to grow at a significant rate owing to growing investments among developing economies in infrastructure development, coupled with stringent labor safety laws. Furthermore, the adoption of modern personal safety standards is propelling the market for personal protective equipment in the region.
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Products covered: Hands & arms, body, foot & leg, hearing, eye & face, head, and others
End-use industries covered: Construction, manufacturing, oil & gas, chemicals, food, pharmaceuticals, transportation, maritime, fire and rescue, defense, mining, and agriculture
Regions Covered: North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa
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