The global fall protection market size is expected to reach USD 4.77 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 7.0% during the forecast period. The global industry is primarily driven by the growing demand for workers’ safety, coupled with mandated policies by regulatory agencies for companies to maintain worker safety in various end-user industries. Fast-paced GDP growth and increasing employment in industries across the Asia Pacific and the Middle East have increased the focus on workers’ safety. Companies are emphasizing worker safety and establishing safety norms to avoid fall accidents, which have a negative influence on operating expenses in the form of compensation and arbitrated settlements, hence aiding industry growth.
Fall Protection Market Report Highlights
- The soft goods segment led the global industry in 2021 owing to increasing demand for harnesses coupled with rising awareness pertaining to worker safety in various end-use industries
- The construction industry is expected to witness considerable growth from 2022 to 2030 on account of mandates by governments of various countries to reduce the number of accidents and causalities during construction activities
- Asia Pacific is expected to witness the fastest CAGR during the forecast period owing to a rise in M&A activities and increased infrastructure development by governments, thus driving the industrial construction sector
- North America is expected to be the largest region in terms of global revenue during the forecast period, owing to rising worker safety concerns, and early adoption of cutting-edge technology
- In January 2022, Diversified Fall Protection (DFP) completed the acquisitions of two similar line companies, namely Rooftop Anchor, Inc. (RTA) and Versatile Systems
- In November 2021, Rothoblaas increased its line of fall prevention systems & protective gear. This allowed the firm to broaden its product range while also meeting the technical & regulatory international standards for its goods
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The ongoing innovations in product development for manufacturing products that offer improved comfort, functionality, and movement, while adhering to regulatory standards, through the use of improved fabrics and materials are anticipated to fuel the industry growth. The Asian Development Bank (ADB) allocated USD 250 million as a loan for the National Industrial Corridor Development Program of India (NICDP) in November 2021 for the construction of 11 industrial corridors connecting 17 states of India. Such initiatives are anticipated to increase product demand during the forecast period.
Growing population, rapid industrialization in developing nations, increasing construction activities worldwide, and the rising popularity of recreational activities like rock climbing and ice climbing are some of the major factors anticipated to propel the industry growth during the forecast period. Companies are launching new products to strengthen their product portfolio. In September 2020, McNetiq launched a series of magnetic anchors intended for fall protection for workers when working at heights and this is used in places constructed of steel and not having edge protection. This product launch also helped the company diversify its product portfolio.
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List of major companies in the Fall Protection Market
- FallTech
- Petzl
- SKYLOTEC
- Guardian Fall
- MSA Safety
- Honeywell International
- 3M
- W. Grainger, Inc.
- Gravitec Systems, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Segmented the global fall protection market based on type, end-use, and region.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Fall Protection Market Variables, Trends & Scope
3.1. Market Segmentation & Scope
3.2. Penetration and Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Business Environment Analysis: Fall Protection Market
3.7.1. Industry Analysis - Porter’s
3.7.1.1. Supplier Power
3.7.1.2. Buyer power
3.7.1.3. Threat of substitutes
3.7.1.4. Threat of new entrants
3.7.1.5. Competitive rivalry
3.7.2. PESTEL Analysis
3.7.2.1. Political Landscape
3.7.2.2. Economic Landscape
3.7.2.3. Social Landscape
3.7.2.4. Technological Landscape
3.7.2.5. Environmental Landscape
3.7.2.6. Legal Landscape
3.8. COVID-19 Impact Analysis
Chapter 4. Fall Protection Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2021 & 2030
4.1.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
4.2. Soft Goods
4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
4.3. Hard Goods
4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
4.4. Others
4.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Fall Protection Market: End-use Estimates & Trend Analysis
5.1. End-Use Movement Analysis & Market Share, 2021 & 2030
5.2. Construction
5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.3. Manufacturing
5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.4. Oil & Gas
5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.5. Chemicals
5.5.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.6. Food
5.6.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.7. Pharmaceuticals
5.7.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.8. Healthcare
5.8.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.9. Transportation
5.9.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.10. Mining
5.10.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.11. Others
5.11.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
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