Personal Protective Equipment Market Global Research Forecast by 2027, Fortune Business Insights™
The global personal protective
equipment (PPE) market size is projected to reach USD 92.86 billion by 2027,
exhibiting a CAGR of 7.4% during the forecast period. Skyrocketing demand for
PPE to protect frontline healthcare personnel from COVID-19 will surge the
market growth during the current year, observes Fortune Business Insights™ in
its new report, titled “Personal Protective Equipment (PPE) Market Size, Share
& Industry Analysis By Product (Head Protection, Eye & Face Protection,
Hearing Protection, Protective Clothing, Respiratory Protection, Fall
Protection Protective Footwear, Hand Protection, and Others), By Application
(Construction, Manufacturing, Oil & Gas, Chemical, Food, Pharmaceutical,
Transportation, and Others) and Regional Forecast, 2020-2027”. Extensive
medical research into the spread of the infection caused by the coronavirus has
revealed that the virus is transmitted through droplets released by respiratory
activities. According to the Royal United Hospital NHS Trust in Bath, UK,
personal protective equipment is essential is protecting medical staff and
patients from COVID-19 cross-infection. In the US, the Centers for Disease
Control and Prevention (CDC) is taking various measures to ensure adequate
availability of all types of PPE for the health workers to optimally deliver
care to coronavirus patients. Thus, the COVID-19 pandemic is expected to prove
beneficial for this market in 2020.
And Thus, The global personal
protective equipment (PPE) market size is projected to reach USD 92.86
billion by 2027, exhibiting a CAGR of 7.4% during the forecast period.
The report states that the market
value was at USD 52.43 billion in 2019. It also contains the following:
·
Detailed analysis of the factors fueling the
market growth;
·
Careful research into the challenges facing
the market;
·
Comprehensive study of all the market
segments; and
·
In-depth examination of the regional
developments and competitive dynamics of the market.
Market Driver
Lucrative
Growth in the Global Construction Sector to Brighten Market Prospects
The personal protective equipment market growth is strongly
premised on the speedy progress of the construction industry worldwide. As per
a research study published by Oxford Economics, the global construction sector
will grow by 3.9% per year till 2030. The study forecasts that construction
output in terms of volume will reach $15.5 trillion by 2030, soaring at a rate
of 85%. Construction sites are hotbeds for workplace accidents, wherein workers
get seriously injured or die, either because of malfunctioning machines or
faulty or substandard protective equipment or both. As construction activities
gather steam worldwide, the demand for PPE to provide sufficient protection for
workers is expected to escalate. This trend will be augmented by the growing
awareness among workers and employers regarding the importance of personal
protective equipment in hazardous working conditions, which will further boost
the market.
BROWSE SUMMARY:
https://www.fortunebusinessinsights.com/personal-protective-equipment-ppe-market-102015
Regional
Insights
Strong
Workplace Safety Regulations to Propel the Market in North America
Regulations governing workplace safety of workers are being
constantly tightened in North America, which is one of the prominent factors
enabling the region to dominate the personal protective equipment market share.
Organizations such as the Occupational Safety and Health Administration (OSHA)
and the National Institute for
Occupational Safety and Health (NIOSH) ensure compliance of manufacturers and
factory owners in terms of putting in place adequate safeguards for workers. In
2018, the market size in North America stood at USD 34.71 billion.
In Europe as well, regulations such as
the EU Directive 2016/425, which effectively monitor the quality standards of
PPE sold in the market in Europe. The market in Asia-Pacific is expected to
display promising growth on account of surging construction activities and
steady expansion of manufacturing sector.
Competitive Landscape
Strategic Takeovers by Top Players to Heat up Market Competition
The highly-charged competitive milieu of
the PPE market is characterized by the strategic acquisition activities undertaken
by prime players such as Avon and Ansell. These acquisitions are enabling these
companies to deepen their footprint in the market and further strengthen their
product portfolio.
Industry Developments:
·
August 2019: UK-based Avon Rubber entered into an agreement with US-based 3M to
acquire the latter’s ballistic protection business division and rights to its
Ceradyne brand. The total value of the takeover is estimated at USD 91 million,
with additional cash consideration being in process.
·
May 2019: Sweden-based
brain protection specialist, MIPS, acquired the Canadian tech major, Fluid
Inside, in a bid to expand its product offerings. The main intent behind this
move is for MIPS to access Fluid’s R&D to diversify its head safety
solutions to include linear and rotational motion protection in its helmets.
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SAMPLE PDF FILE:
List of Companies Profiled in the Personal Protective Equipment
Market Report:
·
KARA
·
W. L. Gore & Associates, Inc.
·
MCR Safety
·
Towa Corporation
·
TenCate Fabrics
·
Rock Fall (UK) Ltd
·
Gateway Safety, Inc.
·
Blue Eagle
·
COFRA S.r.l.
·
Avon Protection
·
Honeywell International, Inc.
·
Bullard
·
Lakeland Inc.
·
Supermax Corporation Berhad
·
Acme Safetywears Limited
·
TEIJIN LIMITED
·
Radians, Inc.
·
Udyogi Plastics Pvt. Ltd
·
Uvex Group
·
DuPont
·
Alpha ProTech
·
3M
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