FELTON, California, May 12, 2020
FELTON, California, May 12, 2020 /PRNewswire/ -- The global safety eyewear market was valued USD 3.0 Billion by 2025, according to Million Insights, registering a 4.1% CAGR over the forecast period. Increasing demand for protective eyewear equipment from various industries is expected to boost demand for this market. In addition, strict government regulations by the government in various countries are fueling the market growth. For example, the Department of Occupational Safety and Health Administration (OSHA) laid down strict regulations in the U.S which is again expected positive impact on this market.
Application wise, industrial manufacturing held the largest market share due to the high chances of eye injury accidents. Hence, strict precautionary regulations have been laid for employees and employers resulted in the adoption of eye protective equipment across the globe. The military segment is expected to grow with the highest CAGR over the forecast period 2019 to 2025. Manufacturers are focusing on customization of products and product offerings, as governments are investing highly in the military industry for the safety of soldiers.
Among product types, the non-prescription segment accounted for the largest safety eyewear market share. However, the prescription segment is expected to grow highest owing to the increasing demand for customizing eyewear among consumers for regular vision. Moreover, manufacturers are providing trials and consulting services before buying products, thereby fueling market growth.
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The Asia Pacific is expected to witness significant growth during the forecast period due to the rising industrialization in emerging countries such as China and India. The U.S. is the largest consumer for safety eyewear across the globe, followed by Europe, due to the implementation of strict regulations by the government.
Further key findings from the report suggest:
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Million Insights has segmented the safety eyewear market on the basis of product type, application, and region:
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