Construction safety nets are used as fall protection systems in construction industry to prevent workers from falling from high rises or structures under construction. These nets provide a safe working environment for construction workers by arresting their falls. With increasing construction of high rise buildings and infrastructure projects, the need for safety of workers has become more prominent. This has fueled the demand for advanced construction safety nets that are durable and easy to install. The global Construction Safety Net Market is estimated to be valued at US$ 3.45 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for construction safety nets can be attributed to rising safety concerns in the construction industry. According to Bureau of Labor Statistics, fatal falls account for majority of construction related deaths every year. This has compelled regulatory bodies across the globe to enforce strict norms regarding use of fall protection system at construction sites. major construction companies are also focusing on workers safety by investing in advanced safety gears like construction safety nets. Moreover, manufacturers are developing lightweight and durable nets that facilitate easy installation and movement at construction sites. Development of nets that can withstand weight of multiple workers and arrest falls from greater heights is another key market trend.
Segment Analysis
The global construction safety net market is divided based on type, usage, and geography. Based on type, the market is segmented into ultrahigh-molecular-weight polyethylene, aramid, and others. The ultrahigh-molecular-weight polyethylene segment holds a major share as nets made from this material are highly durable, have high tear strength and impact resistance, as well as self-extinguishing properties.
Based on usage, the market is segmented into infrastructure safety net and suspended working safety net. The suspended working safety net segment dominates as construction workers rely heavily on safety nets installed below elevated working platforms to prevent injuries from falls.
Key Takeaways
The global construction safety net market scope is expected to witness high growth over the forecast period of 2023 to 2030 on account of strict regulations mandating the use of safety nets at construction sites. The Asia Pacific region currently dominates the market and is expected to continue doing so due to rapid infrastructure development and growth in the construction industry across China, India, Indonesia, and other countries.
Regional analysis: The Asia Pacific construction safety net market is growing at the fastest rate due to strong economic growth and rising investments in infrastructure development across China, India, Indonesia, and other Southeast Asian countries. China in particular dominates the regional as well as global market owing to its massive investments in building new urban infrastructure to support rapid urbanization. The increasing promotion of construction worker safety by regulatory bodies in these developing nations is also driving market growth.
Key players analysis: Key players operating in the construction safety net market are Safeway Safety Step, UL Workplace Safety, Guardian Fall Protection, 3M, and Honeywell Miller. Safeway Safety Step and Guardian Fall Protection hold a major share in the market due to their vast product portfolios that include various types and sizes of ultrahigh-molecular-weight polyethylene and aramid safety nets suitable for different construction applications. 3M and Honeywell Miller also offer a wide range of fall protection equipment including nets, harnesses, lanyards, and more to construction companies globally.
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