Global Fall Protection Equipment Market: Trending in 2021
New York, NY 26 May 2021: The global fall protection equipment market size is expected to reach USD 2.9 billion by 2026 according to a new study by Polaris Market Research. The report “Fall Protection Equipment Market Share, Size, Trends, Industry Analysis Report By Product (Hard Goods, Soft Goods, Rescue Kits, Full Body Harness and Body Belts); By Application (Oil & Gas, Construction, Transportation, Mining, Telecom, Energy & Utilities, General Industry); By Regions, Segment Forecast, 2019 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global demand for fall protection equipment is escalating, with increasing focus on workers ‘ safety in construction, mining, energy and oil and gas industries. They include the use of controls that are preferably designed to protect staff from death and injury. Incident and occupational risk, including falling off overhead platforms or elevated workstations, is expected to contribute to the protection of industry demand.
Market growth is driven by a growing awareness of industrial security and stringent government safety regulations in various industries. One of the main drivers is increasing demand for fall protection equipment from the construction industry. However, increasing automation is expected to limit market growth in the end-use industries. In addition to this, the lack of awareness is expected to hamper the growth of this market over the forecast period. Increasing stringent regulations pertaining to safety of employees is also expected to bring in new opportunities for the key players in this market.
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It is estimated that the body belts segment may surpass consumption of 53 million units by 2026 in the overall market. These are used primarily together with a full body harness for injury protection. OSHA also recommends the utilization of body belts from elevated platforms. Construction market segment is anticipated to hold major share in the global market till the end of forecast period. In addition to this, mining industry is also expected to witness significant growth in the global market over the forecast period.
During the forecast period, North America will be followed closely by Europe. The market is expected to grow enormously due to rapid industrialization in both of these regions. In particular, Asia Pacific, due to anticipated growth in the construction industry during the forecast period, will be seen to increase the demand for fall protection equipment. This market growth can be mainly attributed to the rapid development of infrastructure, high investment in new industries, and the rise in construction in residential and commercial buildings in countries such as India, Indonesia, Thailand and China. The high demand for fall-protection equipment in the ever growing energy and utility industry of Latin America market is expected to register a significant CAGR during the forecast period.
Some of the key players in the market include 3M, MSA Safety Company, SKYLOTEC, Capital Safety, Honeywell Miller, Eurosafe Solutions, ABS Safety, Gravitec System, French Creek Production, FallTech and DBI-SALA . The key players in this market have adopted the strategy of mergers and acquisitions as a part of their strategy in order to gain competitive share in the global market.
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Polaris Market research has segmented the fall protection equipment market report on the basis of type, application and region
Fall Protection Equipment Product Type Outlook (Volume- Units, Revenue – USD Million, 2015 – 2026)
- Hard Goods
- Soft Goods
- Rescue Kits
- Full Body Harness
- Body Belts
Fall Protection Equipment Application Outlook (Volume- Units, Revenue – USD Million, 2015 – 2026)
- Oil & Gas
- Construction
- Transportation
- Mining
- Telecom
- Energy & Utilities
- General Industry
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Global Fall Protection Equipment Market was valued US$ 1.83 Bn in 2019 and is expected to reach 3.4 Bn by 2027, at a CAGR of 8.05% during a forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology:-Request Free Sample ReportFall protection equipment is protective equipment, which is used in numerous end-use sector to protect workers from injuries.Strict regulations from government organizations concerning the safety of workers is one of the key drivers in the global fall protection equipment market.
With the rapid industrialization, the growing demand of fall protection equipment like body belts, suspension belts, body harness, fall arrest system and safety nets from end-user industries like construction, mining and energy, and utility sector is projected to propel the growth in the global fall protection equipment market.Training activities are encompassed in different businesses owing to safety alertness in risk-prone enterprises.
The safety standards and training will encourage the development of the fall protection systems market during the forecast period.
On the other hand, growing automation in several industries, which results in diminished manpower is limiting the growth in the global fall protection equipment market.The construction sector is expected to grow significantly in the global fall protection equipment market.
The rapid expansion of the construction, industrial, and utility sectors and raising awareness for safety at workplace and strict government regulations in the construction, oil & gas, telecom, general industry, mining, and transportation industries are expected to contribute the maximum share in the fall protection equipment market in the region.
The research report on the Global Fall Protection Equipment Market prepared by Reports and Data provides a comprehensive evaluation of the recent market trends.
The report provides the market report abstract in detail, focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.
The research study on the global Fall Protection Equipment market provides a detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years.The report is updated with the COVID-19 crisis and its subsequent impact on the economic scenario.
The report also provides a study about the COVID-19 impact on the market size and the aftereffects of the COVID-9 pandemic.Request a sample of Fall Protection Equipment market report @ https://www.reportsanddata.com/sample-enquiry-form/1391 An outline of the expected performance of the Fall Protection Equipment market is provided below.
The report also contains vital information relating to the major current and expected market trends and the estimated growth rate of the market.Significant components emphasized in the Global Fall Protection Equipment market report include:Growth rateCurrent Market TrendsIndustry drivers and RestraintsProduct/Service concentration ratioRegional segmentation of the marketOpportunities and risksCurrent and future challengesKey competitorsRevenue estimationConsumer growth rateThe report focuses on the evaluation of the Fall Protection Equipment market in major regions and the countries included in those regions.
The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
