Protective equipment market estimated to reach $68.69 Billion

According to a news report by Grand View Research, the global personal protective equipment (PPE) market is expected to reach $68.69 Billion. Today, there is a rising awareness towards worker health and safety along with increasing industrial fatalities in rising economies of India, Vietnam and China. These fatalities are mainly arising due to lack of protective gear.

In certain sectors such as chemical industry, heavy metal industry, health care industry, hospitals and construction industry, safety wear or industrial protective clothing is a must. A little negligence by the company can cost an employee his or her life.

The global market is expected to grow because of a couple of reasons. Technological innovation, coupled with shifting consumer preference towards protective equipment which combines fashion with safety with drive the market. The management of industrial firms is becoming proactive regarding employee health and safety. In economies such as US and UK, the regulatory framework has been forcing companies to follow strict safety norms to avoid occupational hazards.

In 2015, safety gloves dominated the global PPE demand. According to a study, 40% of the industrial fatalities and accidents are related to hand injuries. The high demand of safety gloves world over is because of an increasing number of hand cuts, arm injuries and abrasions in the workplace.

Most of the hand protection products in personal protective clothing include durable and disposable gloves which find application in a number of industries. It is used in industries such as food, pharmaceuticals, manufacturing, construction and chemicals, to safeguard the risk of hand injuries in the workstation or manufacturing unit.

Some of the key findings of the protective equipment growth are:

v The global personal protective equipment demand was valued at USD 38.38 billion in 2015 and is expected to reach USD 68.69 billion by 2024.

v Respiratory protection market was worth USD 5.10 billion in 2015 and is anticipated to witness notable growth over the next eight years on account of increasing requirement in mining and fire services.

v Chemical defending garments were the leading protective clothing segment in 2015.

v Europe was the major PPE consumer and accounted for 33.8% of global revenue in 2015 owing to stringent safety regulations coupled with significant demand in oil & gas, transportation and service industries. Asia Pacific (mainly India) is expected to witness the highest growth of 7.5% over the forecast period.

This global growth of safety wear or protective equipment is definitely a good sign for safety wear suppliers and safety uniform suppliers.