Personal Protective Equipment (PPE) Market Size worth over $80 billion 2026
Published Date: July 21, 2020 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights, Inc., the Personal protective equipment market is set to surpass USD 80 Billion by 2026. Growing industrialization has led to developing various industries such as construction, oil & gas, transportation, and steel which will drive industry growth.
Manufacturing sector is a labor-intensive industry and comprises several processes involving gasses, hazardous chemicals, equipment, and sharp objects which may propel PPE market demand. Increasing number of accidents leading to casualties, severe injuries, and organ losses, and additional compensation cost has boosted utilization of safety equipment.
It is now mandatory for companies to provide product in order to prevent accidents and injuries at workplace. Employees which are exposed to heat, chemical, mechanical stress, and bacteria and viruses must utilize the personal protective equipment in order to prevent themselves from infections and injuries. In 2018, U.S. reported 5,250 fatal work injuries which is a 2% increase from 2017. Growing industrialization along with rising health & safety concerns will have a positive impact on the personal protective equipment market growth.
Growing protective clothing demand will foster industry profitability
Protective clothing segment was USD 11 Billion in 2019 and is expected to grow at 7% through 2026. Protective clothing is widely being used to prevent the spread of coronavirus among doctors and cleaners. The product helps to prevent direct human contact from virus infected objects including needles and knobs. Doctors are utilizing protective coveralls, gloves, and shields while treating the infected patients. Rising number of coronavirus cases across the globe will fuel protective clothing demand thus fostering the personal protective equipment market share.
Browse key industry insights spread across 510 pages with 592 market data tables and 35 figures & charts from the 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, 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 Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising construction activities due to urbanization and industrialization will propel product demand
“According to market analysis and trends, PPE market from construction application is expected to surpass CAGR 7.5% from 2020 to 2026.”
Construction application segment was valued USD 8 billion in 2019. Construction sector utilizes protective equipment including safety glasses, helmets, footwear, and earplugs. This industry also requires equipment to prevent possible injuries and accidents associated with workplace including falling objects and pointed nails. Usage of protective shoes reduces severe impact from falling objects and cut by sharp objects, which may stimulate the personal protective equipment market share.
“As per industry forecasts, Europe region is anticipated to grow over USD 16 Billion by 2026 due to rising needs for maintaining animal health”
Europe PPE market was over USD 10.5 Billion in 2019. Strict standards and directives by EU PPE Directive 89/686/EEC cover the marketing and manufacture of personal protective equipment. Stringent norms related to occupational health & safety by European Union is expected to increase product demand in the region over the foreseeable future. Besides the usage in manufacturing plants and construction activities countries in the region including Italy and UK are majorly hit by COVID pandemic which has driven the personal protective equipment market demand.
Key companies in the personal protective equipment industry are Honeywell International, Inc, 3M, Ansell Ltd, JAL Group France SAS, Avon Protective Systems, Inc., COFRA S.r.l, and Rock Fall Limited.
Manufacturers are engaged in several strategies including, innovations, partnerships, acquisitions & mergers, and capacity expansions to cater to increasing product demand. For instance, In October 2017, Honeywell announced about launch of industry’s first “connected ready” electrical safety lineman gloves. This will help the company to expand its portfolio.