Personal Protective Equipment Market Size Worth USD 98.6 Bn by 2031, Expanding at a CAGR of 6.2% Says, Transparency Market Research
The rapid rise in awareness regarding personal safety is anticipated to propel the growth of this market across the world.
Wilmington, Delaware, United States, Oct. 19, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global personal protective equipment market is projected to flourish at a CAGR of 6.2% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 98.6 billion is anticipated for the market in 2031. As of 2023, the market for personal protective equipment is expected to close at US$ 61.5 billion.
Increasing awareness about workplace safety hs led end-use industries to resort to the use of personal protective equipment for their workers. Accidents in the workplace have become a significant concern, paving the way for personal protective equipment.
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Stringent workplace safety regulations and standards imposed by governments and industry bodies require employers to provide suitable personal protective equipment to protect workers. The enforcement of these regulations has increased demand for personal protective equipment across various industries.
A growing awareness of the importance of worker safety and a commitment to creating safer work environments have led employers to invest in high-quality PPE to protect their employees, anticipated to offer lucrative growth opportunities in the global personal protective equipment market over the years to come.
The increasing demand from construction, healthcare, manufacturing, and oil and gas industries, as they have unique safety requirements that mandate the use of specialized PPE, driving the demand for industry-specific personal protective equipment.
The availability of personal protective equipment through e-commerce platforms and online marketplaces has made it easier for buyers to access a wide range of products, contributing to market growth.
Key Takeaways from the Market Study
- As of 2022, the personal protective equipment market was valued at US$ 57.9 billion
- Based on product type, the fall protection equipment segment dominated the global personal protective equipment market.
- Based on the end-use industry, the manufacturing industry segment dominated the global market in revenue in 2022.
Personal Protective Equipment Market: Key Trends and Opportunistic Frontiers
- Innovations in materials and technology have improved PPE’s quality, comfort, and functionality, making it more appealing to users and increasing its adoption.
- The PPE industry is increasingly focusing on sustainable and eco-friendly materials and manufacturing processes in response to growing environmental awareness.
- Developing countries are witnessing industrialization and economic growth, which, in turn, leads to increased demand for PPE to protect workers in these regions.
- The rise in the number of fatal accidents and injuries at workplaces is significantly driving the growth of the personal protective equipment market
- Government programs and incentives to promote workplace safety and the adoption of PPE can positively impact market growth.
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Personal Protective Equipment Market – Regional Analysis
- The market in Asia Pacific is likely to expand at a high CAGR during the forecast period. The construction industry in APAC is thriving and is expected to continue to do so over the next few years. This is likely to contribute to the growth of the Asia Pacific personal protective equipment market in the upcoming years.
- North America has dictated a significant market share globally owing to the increase in the adoption of personal protective equipment across different industries, North America is estimated to lead the global market during the forecast period.
The personal protective equipment market is fragmented due to the presence of several players. Competition is expected to intensify in the next few years due to the entry of several local players. Key players operating in the global personal protective equipment market are
- 3M Company
- Alpha Pro Tech, Ltd.
- Ansell Limited
- Drägerwerk AG & Co. KGaA
- E I du Pont de Nemours and Co. (DuPont)
- Honeywell International Inc.
- Kimberly-Clark Corporation
- Lakeland Industries Inc.
- MSA Safety Inc.
- Uvex safety
Key Developments in the Personal Protective Equipment Market
- Kimberly-Clark Corporation is a major player in the PPE market, particularly in the healthcare sector. They manufacture a range of protective equipment, including surgical gowns, masks, and gloves.
- Honeywell International Inc. is a diversified conglomerate with a significant presence in the personal protective equipment market. They offer a variety of safety products, including respiratory protection, eye and face protection, hearing protection, and fall protection equipment.
Personal Protective Equipment Market – Key Segments
- Eye and Face Protection
- Head Protection
- Hearing Protection
- Protective Clothing
- Respiratory Protection
- Professional Footwear
- Fall Protection
- Hand Protection
- Others (Skin Protection, etc.)
- Oil and Gas
- Others (Firefighting, Automotive, etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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