The personal protective equipment (PPE) market is poised to register lucrative gains over the forthcoming years, owing to escalating concerns associated with employee security and safety at workplaces.
The surging risk of exposure to toxic fumes, vapors, hazardous chemicals, and dust across various manufacturing industries is likely to drive PPE market growth over the estimated span. Furthermore, numerous personal protective equipment manufacturers and institutions are focusing on implementing various strategies including mergers, acquisitions, and product developments for maintaining their position in the market.
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On this note, as per the most recent research by Global Market Insights, Inc., the personal protective equipment market share is expected to surpass a revenue of USD 120 billion by 2027.
What factors will drive the demand for personal protective equipment across oil & gas application?
The oil & gas application is estimated to register an appreciable CAGR of more than 10% from 2021 to 2027 impelled by the surging oil exploration activities that are being carried out in numerous countries across the globe comprising Saudi Arabia, the U.S., UAE, Canada, and Russia.
These factors are slated to escalate the demand for different types of personal protective equipment like safety glasses, steel-toe boots, hard hats, and flame-resistant clothing through the anticipated period. Strict rules regarding higher levels of safety to be maintained by workers at oil drilling sites are further expected to bolster PPE industry growth through the coming years.
How will the fall protection equipment market expand through 2027?
The fall protection equipment industry is likely to record a valuation of more than USD 7 billion by 2027. This growth is accredited to the rising safety regulations and norms for the protection of workforce in various end use industries for preventing sensitive body parts from slips, accidents, falling debris, and other hazards.
This, in turn, is expected to escalate the demand for fall protection equipment including barriers, movable platforms, scaffolds, full body harnesses, handrails, retractable lifelines, and lanyards through the analysis period.
How will the personal protective equipment (PPE) industry grow in North America and Europe?
There has been a significant rise in oil and gas activities in North America. This has given rise to the implementation of stringent regulations regarding employees’ safety in workplaces. Driven by this North America personal protective equipment (PPE) market is projected to exhibit a considerable CAGR of more than 9% by 2027.
Similarly, the personal protective equipment market in Europe will expand at a substantial growth rate of 9.2% through 2027. This growth is propelled by the surging manufacturing, chemical, and construction industries in the region.
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Why will the head protection equipment market record appreciable proceeds in the coming years?
The head protection equipment industry registered a remuneration of $2 billion in 2020 and is estimated to surpass $25 in billion revenue, with a CAGR of 9.3% through the assessment period. The segment growth is driven by the rising risk from flying or falling objects, splashes, spills, and electric shocks in various industries.
In a nutshell, the escalating instances of workplace injuries and occupational hazards will augment personal protective equipment market growth through the assessment period.