Coherent Market Insights

Personal Protective Equipment Market To Surpass US$ 121.9 Bn By 2030

Personal Protective Equipment Market To Surpass US$ 121.9 Bn By 2030 - Coherent Market Insights

Publish In: Apr 19, 2023

Personal Protective Equipment is a protective tool  wore by workers at the workplace, in order to protect against hazardous environment. Personal protective equipment includes face protection, protective clothing, respiratory protection, hearing protection, fall protection, professional footwear, and hand protection. These equipment has application in manufacturing, construction, oil and gas, food, chemicals, transportation, and pharmaceutical industries.

Global personal protective equipment market was valued at US$ 59.5 billion  in 2022, exhibiting a CAGR of 9.38% during the forecast period (2023 to 2030). Personal Protective Equipment Market, By Equipment Type (Head, Eye & Face Protection, Hearing Protection, Protective Clothing, Respiratory Protection, Professional Footwear, Fall Protection, Hand Protection, Others), By Application (Construction, Manufacturing, Oil and Gas, Chemicals, Food, Pharmaceuticals, Transportation, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global Personal Protective Equipment Market- Drivers

Rising workplace safety regulations across different manufacturing sector is expected to drive the market growth of the personal protective equipment. Increasing workplace accidents has created a huge demand for personal protective equipment. These are used in manufacturing industries such as oil and gas, pharmaceutical, construction,  and others as people working across these industries are highly prone to injuries due to risky working environment.

Global Personal Protective Equipment Market- Opportunities

Growing manufacturing industries across the Asia Pacific region is expected to create new market opportunities over the forecast period. According to the India Brand Equity Foundation, the manufacturing sector of India is estimated to reach US$ 1 trillion by 2025, and India is expected to rank amongst the top three growth economies and manufacturing destinations of the world by 2020. Hence, growing manufacturing industries is expected to boost the market growth of personal protective equipment.

Global Personal Protective Equipment Market- Restraints

Increasing automation across various end user industries is eliminating the need for labor, and thus, reducing the number of workers. This is reducing the adoption of personal protective equipment, thereby, hindering the market growth over the forecast period. Hence, rising popularity of automation across manufacturing industries is expected to hamper the market growth of personal protective equipment.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/personal-protective-equipment-market-1355

Key Takeaways

On the basis of application, pharmaceuticals segment dominated the global personal protective equipment market in 2022, accounting for 35% of market share, in terms of revenue, followed by others and construction, respectively.

Global Personal Protective Equipment Market- Trends

Increasing investment by key market players in PPE is a key trend in the market, and this is expected to drive the market growth. For instance, in June 2020, Denplan, a part of Simplyhealth, announced that investment of  US$ 2.15 million to provide essential, fully-certified personal protective equipment (PPE) to help its Denplan member dentists get safely back to work and protect and care for their patients. Such investment by major players is expected to drive the market growth over the forecast period.

Distribution agreements among manufacturers is one of the growing trends in the market, and this is expected to drive the market growth over the forecast period. For instance, in June 2020, Maskco Technologies, Inc., announced a joint venture distribution agreement with Gredale, LLC, a U.S.-based manufacturer of medical-grade isolation gowns and distributor of personal protection equipment and textiles, to manufacture personal protection equipment. Under terms of this agreement, Gredale, LLC, will distribute Maskco Technologies’ MTech Respirators for a period of two years.

Global Personal Protective Equipment Market - Impact of Coronavirus (COVID-19) Pandemic

According to World Health Organization (WHO), severe and mounting disruption to the global supply of personal protective equipment (PPE), owing to rising demand, panic buying, hoarding and misuse, can put many lives at risk from the new coronavirus (Covid-19) Pandemic and other infectious diseases. This factor is expected to drive the global personal protective equipment market growth.

Global Personal Protective Equipment Market- Competitive Section

Major players operating in the global personal protective equipment market include 3M Co., Alpha Pro Tech, Ltd., Ansell Ltd., Avon Rubber P.L.C., Jal Group, Cofra Holding Ag, Oftenrich Holdings Company Limited, Honeywell Safety Products, Rock Fall Ltd. And Uvex Safety Group

Global Personal Protective Equipment Market- Recent Developments

  • In November 2019, Ansell Limited, partnered with ProGlove, a provider of industrial wearables, in order to develop hand protection solutions by using technology to ensure the right personal protective equipment (PPE) compliance in the workplace.

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