ALBANY, New York, January 17, 2019
ALBANY, New York, January 17, 2019 /PRNewswire/ --
The global personal protective equipment market is prognosticated to flourish in the coming years. On the basis of a recent research report by Transparency Market Research (TMR), the rising need of the companies to alter their business strategies to compile the new regulations and changes is propelling the growth of the personal protective equipment market all over the globe. Some of the leading players operating in the global personal protective equipment market, are COFRA Holding AG, National Safety Apparel, 3M Co., Avon Rubber, Ansell Ltd., Honeywell Safety Products, MSA SAFETY, Kimberly-Clark Corp., National Safety Apparel, Uvex Safety Group, and Rock Fall Ltd. These firms are consistently making efforts to fulfil the consumer demands. These players are focusing on manufacturing and launching more innovative products to make their foothold strong in the global market. In the forthcoming years, the companies are expected to get indulged into partnership and mergers and acquisitions to increase their global reach.
On the basis of research report, the personal protective equipment market is likely to flourish at a steady CAGR of 7.0% within the forecast period from 2017 to 2025. In 2016, the market was valued to be of worth US$40.4 bn. This figure is estimated to reach around US$72.08 bn of worth by the end of 2025.
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As per the type, the global personal equipment market is classified as face and eye protection, head protection, protective clothing, fall protection, hearing protection, and professional footwear. Out of these, the fall protection segment type accounts for the majority of market share, all over the world. The researchers are prognosticating that the personal protective equipment market would be led by the fall protection segment in the span of forthcoming years. Geographically, North America accounted for 38% of the entire market share in 2016, and hence dominated the global market. Due to rise in popularity of personal protective equipment in various sectors, the mentioned region is likely to sustain its lead in the coming years as well.
Increased Awareness About Personal Wellbeing to Contribute in Market Demand
The fast industrialization becomes the fundamental factor behind the development of the overall market for personal protective equipment. The rising awareness among shoppers relating to personal wellbeing and the significant rise in the transportation and manufacturing divisions are additionally pushing the market extensively.
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The personal protective equipment market has been rising at a flourishing pace because of the development in modern improvement all over the world. The fast increase in awareness with respect to personal wellbeing is likewise foreseen to push the development of this market in the world. Personal protective equipment, for example, shield glasses, goggles, and head protectors are intended to protect the buyers from harm or disease. Areas, for example, manufacturing, transportation, and development are additionally propelling the market development over the world. This market is assessed to rise quickly in the forecast period because of the reception of stringent directions and approaches in manufacturing plants and different working environments by various regional governments.
Fluctuating Cost of raw Material to Hinder Growth
Then again, the instability in the crude material costs may hinder the market's development soon. Be that as it may, the expanding execution of stringent guidelines and directions for work put security by a few government experts is foreseen to help this market in the upcoming years, expresses the report.
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The review is based on the findings of a report by Transparency Market Research, titled "Personal Protective Equipment Market (Product Type - Eye and Face Protection, Head Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Professional Footwear, Fall Protection, and Hand Protection; Application - Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
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The global Personal Protective Equipment Market is segmented as below:
By Product Type
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