Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a report published by Transparency Market Research, the global personal protective market, as against its value of US$33,952.5 million in 2013, is anticipated to reach US$55,509.1 million by 2020. If the estimates hold true, the market is poised to exhibit a positive 7.3% CAGR between 2014 and 2020. The report is titled "Personal Protective Equipment Market - Global Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020" and is available on the company website for sale. Stringent regulations imposed by governments and growing awareness regarding workplace safety are the key factors driving the global personal protective equipment market. Apart from this, increasing foreign investment and rapid industrialization witnessed by developing economies of Asia Pacific, South America, and Africa are also likely to boost the demand for personal protective equipment.
Based on the product types, the personal protective equipment market is segmented in the report into hearing protection, head, eye, and face protection, fall protection, respiratory protection, professional footwear, hand protection, and protective clothing.These diverse types of personal protection equipment find application across industries such as manufacturing, construction, oil and gas, food, chemicals, pharmaceutical, transportations, and others. These industries constitute the major end-use segments of the global personal protective equipment market, which the report studies in detail. Other end uses of personal protective equipment include small-scale manufacturing utilities, the unorganized sector, government usage, and agriculture. Since developing countries showcase lucrative opportunities for the protective equipment market to prosper, an increasing number of international players have expressed their keenness to venture into these economies.
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Among the diverse types of personal protective equipment, professional footwear accounts for the largest share in the market. The market value of the segment was an impressive US$7,005.8 million in 2013. However, the report projects the market for fall protection equipment to register the fastest growth during the forecast period, developing at an 8.8% CAGR between 2014 and 2020. The growth curve of the segment is charted by robust industrialization and exponential growth of construction activities. Among the application segments, manufacturing accounted for the largest share of the market and was valued at US$6,714.1 million in 2013. However, exhibiting a 7.8% CAGR, transportation is most likely to emerge as the fastest growing segment in the market during the report's forecast period. The exponentially increasing operations of the logistics industry are also fuelling the demand for personal protective equipment. In addition, government regulations mandating the maintenance of strict standards at workplaces to ensure a safe work environment are also boosting the market for personal protective equipment around the world. Apart from presenting an in-depth study on the aforementioned information, the report also analyzes the competitive landscape of the market. It examines the key strategies adopted by the major industry participants such as Alpha Pro. Tech, Ltd., 3M Co., Ansell Ltd., and others and studies their impact on the market's growth trajectory.
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Personal Protective Equipment Market, by Application
- Oil and Gas
Personal Protective Equipment Market, by Type
- Head, eye and face protection
- Hearing protection
- Protective clothing
- Respiratory protection
- Professional footwear
- Fall protection
- Hand protection
Personal Protective Equipment Market, by Geography:
- North America
- Middle East
- Asia Pacific
- South America
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Source:Transparency Market Research