The global personal protective equipment market size is projected to reach $85.72 billion by 2026 while exhibiting a CAGR value of 7.3% during the forecast period, the market size was at $48.97 billion in 2018 and is expected to grow considerably during the forecast period. The ppe industry report includes in-depth details about the personal protective equipment market trends, growth opportunities, challenges, growth drivers, and restraints faced by the market during the forecast period. Additionally, it provides an analysis of all the segments present in the market.
Furthermore, extensive information is given about the competitive landscape that consists of novel product launches, agreements, contracts, investments, mergers and acquisitions, and strategic partnerships. Moreover, it includes the market size, along with the dynamics and changing consumer behavior that will impact the growth of the market between 2019 and 2026.
Personal protection equipment consists of every type of safety gear required for the safety and security of the workers at every workplace. The equipment includes goggles, protective helmets and clothing that protect the wearer from any type of injury or infection. They protect the wearer from every health and safety risk that can be faced at the work surroundings. Rising awareness for the safety and security of workers from mishaps and the hazardous situations is expected to positively impact the growth of the market in the forthcoming years.
Worldwide COVID-19 Impact Analysis on PPE Industry:
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.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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List of Players Profiled in Personal Protective Equipment 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.
PPE Industrial Developments:
- August 2019: Avon Rubber, a leading technology group, acquires 3M’s ballistic protection business. This development is expected to widen Avon Rubber’s protection equipment range with the addition of ballistic helmets and body armor brands.
- May 2019: MIPS Technologies, Inc., an American design company, acquires Fluid Inside, a Canada-based helmet technology brand. This acquisition is set to strengthen MIPS’s position in the market by offering novel safety helmet ranges.
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Drivers and Restraints:
Increasing Use of Recyclable Materials to Aid Growth
Rapid urbanization and increasing population is expected to generate 3.4 billion tons of waste worldwide by 2030. This is anticipated to cause a worldwide problem for waste management. To avoid this, glove manufacturers in U.S. are taking efforts to produce gloves that are environmentally friendly and easily disposable. For instance, in recent times, companies introduced bio-degradable nitrile gloves that can be disposed easily. In addition to this, development in glove-manufacturing machines to make them more energy-efficient will contribute to the growth of the market in the forthcoming years. The adoption of greener-solutions for the production of safety equipment’s will boost growth during the projected horizon.
However, the market also consists of companies producing inferior quality products which may restrict the market growth to a certain extent.
North America to lead the Market; Increasing Government Expenditure in Health Sector to Aid Growth
Among the region, North America will be at the forefront during the forecast period. This is attributable to factors such as rising fatal accidents and increasing awareness for safety. In addition to this, increasing government expenditure to improve the healthcare and medical sector will bode well for the market in the forthcoming years. On the other hand, Europe is expected to be the second-most leading region during the projected horizon. Factors such as government investments to promote use of renewable energy sources is expected to fuel growth of the market in Europe.
Asia-Pacific is expected to witness significant growth owing to rising infrastructures and rapid industrialization. The rise in the construction and building industry in countries such as India, China, and Vietnam will drive the growth of the market in Asia-Pacific.
Key Players Strive to Boost Sales by Adopting Merger and Acquisition Strategies
The market includes numerous small, medium, and big enterprises that are at present, striving continuously to gain more personal protective equipment market revenue by collaborating with other organizations and introducing new products for their large consumer bases. Below are a couple of the most significant industry developments:
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