The personal protective equipment market was estimated to be worth USD 54 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% to reach USD 78.6 billion in 2032. Wearing personal protection equipment is essential to preventing health and safety risks for employees. The market is developing and sustainable since it is associated with a variety of sectors.
The term "active equipment" describes a variety of garments and tools intended to shield workers in a variety of settings from risks to their health and safety. Helmets, gloves, eye protection, high-visibility apparel, safety footwear, safety gear, and respiratory protective equipment are examples of personal protective equipment (PPE). These products are essential for reducing exposure to risks that result in severe illnesses and injuries at work.
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GROWTH DRIVERS
The tightening of safety laws, such as those set forth by OSHA and Eu-OSHA, which mandate the use of personal protective equipment (PPE) in hazardous work conditions. These rules require updates and compliance audits, and in order to stay out of trouble and protect the safety of their employees, businesses must invest in premium PPE. The need for efficient PPE to shield employees from harm grows as awareness of workplace dangers rises, which in turn propels the market's expansion.
The International Labour Organization (ILO) reports that illnesses and accidents related to the workplace claim the lives of around 3 million workers yearly, a 5% rise. This include 330,000 fatal work-related accidents and 2.6 million deaths from diseases related to the workplace. Malignant neoplasms, respiratory disorders, and cardiovascular diseases rank as the top three causes of work-related mortality. According to ILO estimates, there are 160 million nonfatal work-related diseases that occur annually, which translates to around 6,400 deaths per day from work-related diseases or accidents and 860,000 injuries.
Occupational health is a focus area for the WHO, which also addresses access to health care, social and individual determinants, and workplace risks for illness and injury. The market is more in demand as the industrial and construction sectors grow. Oxford Economics projects that the global construction sector would develop at a rate of 3% per year until 2030, with a projected increase in market value of USD 4.5 trillion to reach USD 15.2 trillion over that time.
MARKET SEGMENTATION:
· By Product Type – Head Protection (safety helmets and hard hats), eye and face protection (safety spectacles, safety goggles, wielding shields, face shields), Hand protection (gloves), hearing protection (earplugs, cap mounted earmuffs, hearing bands), respiratory protection (air purifying respirators, supplied air respirators, safety masks), protective clothing (coveralls, aprons, suits), foot and leg protection (safety shoes, boots, leg guards), fall protection (soft goods, hard goods, full body harness and body belts) and others
· By End Users Industry- manufacturing and construction, oil and gas, energy and power, mining and military, food and beverages, electronics and semiconductor, law enforcement and firefighting, chemical and healthcare
· By Region- North America, Europe, Asia Pacific, The Middle East and Africa, South America
Global Key Players:
· MSA Safety Inc.
· 3M Company
· Sioen Industries
· Ansell Limited
· Mallcom
· Radians Inc.
· DuPont de Nemours Inc.
· Honeywell International Inc.
· Lakeland Industries, Inc.
· UVEX GmbH
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