Personal Protective Equipment (PPE) Market size is anticipated to surpass USD 70 billion by 2024, at a CAGR of around 7% over the period of 2018-2024. Increasing accident rates in industries like automotive, metal processing, refining, and oil & gas along with rising awareness regarding health and safety of employees are factors likely to drive the industry growth over the next eight years.
Moreover, stringent norms to ensure safety, particularly in the accident-prone industries will also boost PPE market share over the next few years. For instance, NIOSH established under The OSHA (Occupational Safety and Health Administration) act of 1970 in the U.S. has made it mandate to assure healthful and safe working environment for every individual.
Also, infrastructural, industrial, and economic growth across the globe and particularly in developing nations like India and China will fuel PPE market growth over the forecast timeframe. Government regulations pertaining to the safety guidelines across growing industries such as mining, automotive, chemical fibers, electrical equipment, gas distribution, metal fabrication, and industrial machinery will also favor PPE market size.
Personal Protective Equipment (PPE) Market is segmented in terms of products, applications, and regions.
PPE product comprises Head Protection, Hand Protection, Hearing Protection, Eye & Face Protection, Protective Clothing, Respiratory Protection, Protective Footwear, and Fall Protection.
Hand Protection market is estimated to surpass USD 15 billion by 2024. The growth is mainly driven by the need to address concerns like abrasions, hand injuries, and cuts in the accident-prone industries such as manufacturing, pharmaceutical, chemicals, food, and construction.
Industrial protective clothing market will witness a noticeable surge during the forecast period, owing to its application in prevention of injuries from fire, chemicals, etc. The market is expected to exceed USD 16 billion by 2024.
Protective footwear market is projected to hit a revenue of over USD 13.5 billion by 2024.
Fall protection market is estimated to grow at a CAGR of around 8% over the forecast timeline on account of its wide set of applications in defense, power, oil & gas, and construction industries.
PPE application segment includes Construction, Oil & Gas, Manufacturing, Chemicals, Pharmaceuticals, Transportation, and Food.
Manufacturing applications accounted for over 19% of the overall revenue in 2017, and is estimated to register a CAGR of around 7.5% over 2018-2024.
Personal Protective Equipment (PPE) Market size in the construction sector is likely to grow at a CAGR of around 7.5 % over the period of 2018-2024. High chances of workplace accidents will spur the construction application share.
Oil and gas application segment having had a market share of USD 6 billion in 2015, is forecast surpass USD 12.5 billion by 2024. Transportation and manufacturing applications are also set to witness a considerable growth in the PPE market.
The regional landscape covers North America, Latin America, Asia Pacific, Europe, and MEA.
Asia Pacific market, primarily led by India and China is estimated to see a substantial growth in the coming years with revenue expectations of over USD 14 billion by 2024. India PPE market size is expected to grow at a CAGR of around 8% during 2018-2024.
US and Europe PPE markets are likely to experience moderate growth over the forecast timeframe. The growth can be attributed to the frequent workplace accidents and strict regulations regarding safety guidelines.
Personal Protective Equipment (PPE) Market Key players profiled in this report are Rock Fall, 3M Company, Alpha Pro Tech, Honeywell, JAL Group and DuPont.
Segments Covered in this Report:
Personal Protective Equipment(PPE) Market Share(By Product)
Personal Protective Equipment(PPE) Market Size(By Application)
The above information is provided on a regional and country basis for the following: