Rapid Growth In Construction Sector And Increasing Importance Of Safety Measures At Workplaces To Ensure A Rapid Fall Protection Equipment Market Growth
According to a new market research report published by Brisk Insights, “Global Fall Protection Equipment Market (Type (Full Body Harness, Chest Harness, Safety Nets, Body Belts, Suspension Belts) End User (Construction Sector, Telecom and other Industrial Sector, Energy and Utility Sector, Transportation Sector, Mining, Marine and Shipbuilding)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall fall protection equipment market worldwide is set to grow with a CAGR of 7.6% during the forecast period from 2019 to 2027, starting from US$ 1.65 Bn in 2018.
The global fall protection equipment market is highly driven by increasing awareness regarding safety at workplaces. Along with this factors such as rapidly growing construction sector, growing demand of fall protection equipment for recreational activities, increasing importance of fall protection equipment in industrial, construction, and utility sectors are also contributing to the growth of this market. In order to ensure safety and protection of the professionals and amateurs working, the adoption of fall protection equipment is increasing in various industries. As the construction sector is one of the largest employers of the workforce, it has the highest demand of fall protection equipment. Thus, increasing adoption of fall protection equipment based on growing concerns about overall safety are likely to enhance the market for fall protection equipment in the near future.
However, presence of low quality and inexpensive products, increasing automation in end-use industries, and fragmentation and price competition due to presence of large number of companies is expected to restrain the growth of the market.
Based on end user, the construction sector is expected to dominate the fall protection equipment market in during the forecast period. Workers in the construction industry are often exposed to dangers when working at heights in areas, such as scaffolds, building structures, and stairs. In order to protect workers from such hazards, it is essential to use fall protection equipment. Due to the potential that this segment holds, construction industry segment is also projected to grow at a highest CAGR during the forecast period. Based on the geography, North America dominates the fall protection equipment market followed by Europe during the forecast period. This high market share is attributed to factors such as increasing investment in residential and commercial real estate, and stringent government regulations regarding safety measures at work places. However, Asia Pacific is anticipated to witness the fastest growth during forecast period. This growth can be attributed to factors such as rapid infrastructure development, increasing residential & commercial building construction activities in countries, such as India, Indonesia, Thailand, and China, and growing investments in various other industries.
Some of the major companies profiled in the report include Honeywell International Inc., Uvex Safety Group, Simplified Safety, Guardian Fall Protection, Capital Safety, Eurosafe Solutions, ABS Safety, French Creek Production, Gravitec System, FallTech, DBI-SALA, 3M Fall Protection, Super Anchor, Karam Industries, MECHANICAL SAFETY EQUIPMENT, GF Protection Canada Inc., CORP, among others.
Browse the full report at https://www.briskinsights.com/report/fall-protection-equipment-market
The Global Fall Protection Equipment Market is Segmented into:
By Type Segment (2017–2027; US$ Bn)
By Vehicle (2019–2027; US$ Mn)
By Geography Segment (2019–2027; US$ Mn)
*Complete segmentation list is on report page