The global personal protective equipment market size is estimated to reach USD 85.72 billion by 2026 while exhibiting a CAGR value of 7.3% during the projected horizon. The market was USD 48.97 billion in 2018 and growing concerns regarding the workers’ safety across several industries will drive the growth of the market between 2019 and 2026.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Personal protection equipment (PPE) is a safety gear that includes protective clothing such as rubber/biodegradable gloves, safety footwear, helmet, ear and nose protection, and others. Furthermore, PPE ensures complete protection of the workers’, while ensuring safety in extreme work conditions. Several organizations are keenly adopting the use of safety gear for their workers to safeguard them from injuries and improve productivity. Moreover, rising awareness for the workers’ safety in oil & gas, construction, mining, and manufacturing sectors is driving the growth of the market during the forecast period.
What Does The Report Include?
The market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from the advice of expert professionals from the industry by our research analyst. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain a market stronghold between 2019 and 2026.
Drivers and Restraints:
COVID19 Scare: Increasing Production of PPE to Fuel Demand
In 2020, the global pandemic – COVID19 that has become wreaking havoc across the globe, has led to a spur in demand for PPE from medical professionals. The increasing demand for PPE is expected to drive the growth of the market during the forecast period. For instance, in April 2020, SparkCognition, an industrial AI company, announced that it is set to join initiatives started by several businesses to manufacture face shields and prototype ventilators with the help of 3D printers. According to the company, it will donate the PPE to COVID19 ATX Exchange, an initiative by Dell Medical School, UT Austin, aiming to provide solutions for the community’s needs. The pandemic has caused a national shortage of medical equipment beneficial to diagnose patients suffering from this highly infectious disease called Coronavirus. Furthermore, the company will set up multi-manufacturing processes to produce large-scale PPE in the near future.
In addition to this, government compliance pertaining to the adoption of PPE is expected to drive the growth of the market during the forecast period. Following the ongoing pandemic, Covid19, in 2020, the UK government along with the National Health Service (NHS), published new guidelines for the PPE usage by NHS healthcare workers who are dealing with COVID19 patients. The guidelines have been based on scientific evidence and in addition to confirmation from World Health Organization (WHO). Moreover, the guidelines recommend the optimal level of personal protection equipment (PPE) that will protect the NHS healthcare workers and will make them aware regarding the type of PPE to be worn in several healthcare environments where the COVID19 patients are being treated.
Furthermore, several major companies operating in the market are striving to gain maximum personal protective equipment (PPE) market revenue by adopting strategies such as product launches, and mergers and acquisitions. For instance, in November 2018, Ansell Limited, a leading health and safety solutions provider, signed an agreement with ProGlove, an industrial wearables manufacturer, to jointly develop hand protection solutions using the Industrial Internet of Things (IIoT). Moreover, the companies are maintaining their foothold in the market by enhancing the product offering that will boost the demand of the market during the projected horizon.
North America to Remain Dominant amid Rising Fatal Incidents at Workplace
Among the regions, North America is expected to lead the market during the forecast period. Factors such as increasing cases of fatal accidents with the rising number of workers and manufacturer awareness for the safety of the workers’ will contribute to the growth of the market in North America during the forecast period. Additionally, increasing government expenditure for healthcare will bode well for the growth of the market in North America in the forthcoming years. Europe, on the other hand, is anticipated to be the second-most leading region during the forecast period. This is ascribable to factors such as rising government investments to develop renewable energy resources and supportive government regulations to ensure the quality of PPE sold in the market.
Asia-Pacific is expected to register promising growth for the market during the forecast period. This is attributable to factors such as rising infrastructure development owing to steady industrialization witnessed in countries such as India, China, and Vietnam.
List of the Companies Operating in the Market:
- Honeywell International, Inc.
- Ansell Ltd.
- Alpha ProTech
- Avon Protection
- COFRA S.r.l.
- Uvex Group
- Mallcom (India) Limited
- Blue Eagle
- Udyogi Plastics Pvt. Ltd
- Gateway Safety, Inc.
- Radians, Inc.
- Rock Fall (UK) Ltd
- TEIJIN LIMITED
- TenCate Fabrics
- Acme Safetywears Limited
- Towa Corporation
- Supermax Corporation Berhad
- MCR Safety
- Lakeland Inc.
- W. L. Gore & Associates, Inc.
About the Author: Shridhar Patil
Shridhar Patil is part of a talented team of content writers working at Fortune Business Insights™, one of the promising market research firms in the industry. With quality experience in developing content, he is actively involved in writing articles, press releases, and blogs for the company. He is highly motivated and works towards seeking knowledge from every possible source, with a penchant for updating himself to valuable information around him.
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