Industrial Fall Protection Equipment Market to Grow at 7.5% CAGR Through 2026: GMI
The Asia Pacific-industrial fall protection equipment market is projected to grow at a 9% CAGR through 2026, owing to rising manufacturing industries and strict labor laws, coupled with the competition in industry players on price and quality.
SELBYVILLE, Del., July 16, 2020 (Newswire.com) - Global Market Insights, Inc. has recently added a new report on the industrial fall protection equipment market, which estimates the market valuation for industrial fall protection equipment will cross US $4.6 billion by 2026. Rising safety norms, changing perceptions on workplace safety and labor rights is likely to boost industry demand.
The industrial fall protection equipment market from rescue kits is likely to grow at a CAGR of over 7% by the end of 2026, owing to rising safety initiatives and regulations. Industry players in construction, mining and labor-intensive industries are rapidly equipping their workforce in an attempt to reduce contingent costs. Furthermore, rising awareness of health and safety, along with changing perceptions on worker rights, should boost the market share.
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The Asia-Pacific market is likely to grow with a CAGR of 9% by the end of 2026, owing to rising manufacturing industries and strict labor laws. Industry players in the region compete on price & quality, which makes the market scenario competitive. Additionally, strict regulations on worker safety, along with a strong emphasis on healthy workplace practices, is likely to boost the adoption of high-quality equipment and boost the regional market share.
Industry players are engaged in new product development and rapidly entering into new markets in an attempt to boost their global presence. Various manufactures have also adopted strategic expansion measures by mergers and acquisitions to take advantage of well-established distribution networks. Furthermore, industry players are also entering into long term contracts with suppliers in an attempt to reduce supplier power equilibrium during COVID -19 epidemic and also to maintain their position in a competitive market scenario, thus boosting market share.
Major industry players include Honeywell Miller, Pure Safety Group (PSD), Capital Safety, 3M, GF Protection Canada, SKYLOTEC GmbH and French Creek Production.
Browse key industry insights spread across 220 pages with 193 market data tables and 26 figures and charts from the report, “Industrial Fall Protection Equipment Market Share & Forecast, 2020 – 2026” in detail, along with the table of contents:
Some major findings of the industrial fall protection equipment market report include:
- The demand for industrial fall protection equipment is increasing rapidly, owing to rising safety concerns and a shift towards high-quality safety equipment.
- Rising construction & renovation activities and the rapid construction of high rise buildings are likely to augment industry growth.
- Industrial fall protection equipment from body belts is likely to grow with a CAGR of over 7%, owing to rising demand for durable and full-body protection kits.
- Industry players are rapidly investing in material research and branding initiatives in a bid to surpass current safety norms, boost brand image and recognition in competitive market sphere.
- The rising transport industry and increasing demand for high-performance safety equipment is likely to foster market share.
- The industrial fall protection equipment market from the energy & utilities industry is likely to surpass USD 650 million by the end of 2026, owing to the rapid demand for shock and fireproof safety gear.
- Industry players are rapidly entering into long-term contracts with manufacturers in an attempt to smooth their operations, continue supply chain and boost market share.
- New product development and strategic mergers to consolidate market share remains a pivotal growth strategy.
Browse the report's complete table of contents at https://www.gminsights.com/toc/detail/fall-protection-market
Partial chapters of the report's table of contents (TOC):
Chapter 3 Industrial Fall Protection Equipment Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2015 - 2026
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
188.8.131.52 Technology providers
3.4 Regulatory landscape
184.108.40.206 Occupational Safety and Health Administration (OSHA)
220.127.116.11.1 1910.28 - Duty to have fall protection and falling object protection
18.104.22.168.2 1926.760 - Fall protection
22.214.171.124 REGULATION (EU) 2016/425
3.4.3 Asia Pacific
126.96.36.199 WORKPLACE SAFETY AND HEALTH (WORK AT HEIGHTS) REGULATIONS 2013
3.5 Pricing analysis
3.5.1 Cost structure analysis
188.8.131.52 Machinery & Equipment Cost
184.108.40.206 Manufacturing cost
220.127.116.11 Other expenses
3.6 Industry impact forces
3.6.1 Growth drivers
18.104.22.168 North America
22.214.171.124.1 Increasing workplace injuries
126.96.36.199.2 Favorable regulations for occupational safety
188.8.131.52.1 Adoption of fall protection standards
184.108.40.206.2 Increasing fatalities rate and growing on-site training in various industries
220.127.116.11 Asia Pacific: Growth in the construction industry
3.6.2 Industry pitfalls & challenges
18.104.22.168 Sale of low quality and inexpensive products
3.7 Innovation & sustainability
3.8 Growth potential analysis, 2019
3.8.1 Emerging business model
22.214.171.124 Collaboration/Joint ventures
126.96.36.199 Product launch
3.9 Porter’s analysis
3.10 Competitive landscape, 2019
3.10.1 Company market share analysis, 2019
3.10.2 Strategy dashboard
3.11 PESTEL analysis
Browse related report:
Personal Protective Equipment (PPE) Market Size By Product (Head [Safety Helmets & Hard Hats, Bump Caps], Eye & Face Protection [Face Protection, Eye Protection – Plano], Hearing Protection [Cap Mounted, Over the Head Type, Disposable], Protective Clothing [Flame Retardant Apparel, Chemical Defending Garment, High Visibility Clothing], Respiratory Protection [SCBA – Fire Service, SCBA – Industrial, APR – Disposable, Emergency Escape Devices], Protective Footwear, Fall Protection [Personal Systems, Engineered Systems], Hand Protection), By Application (Construction, Oil & Gas, Manufacturing, Chemicals, Pharmaceutical, Food, Transportation), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
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