Hearing Protection Devices Market to Breach US$ 2 Billion Level by 2024 Underpinned by Surge in Construction Activity in Asia - Coherent Market Insights

Published On : Apr 04, 2017

The Global Hearing Protection Devices Market was valued at US$ 908.3 million in 2015 and is projected to expand at a CAGR of 10.8% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights.

Growing construction industry, owing to increasing construction activities in line with the growing population globally, in turn, is increasing demand for safety guidelines. Increasing implementation of safety guidelines, is thus expected to boost growth of the hearing protection devices market. Furthermore, growing defense sector is also boosting demand for hearing protection devices while shooting or at war. This is thus, expected to boost growth of the hearing protection devices market. However, lack of awareness and hampered hearing while using these devices are factors projected to hinder growth of the global hearing protection devices market. Growing inclination of consumers towards customized hearing protection devices, rampant advancements in technology such as ear plugs with acoustic filters, and increasing demand for uniform attenuation ear plugs are factors responsible for growth of the hearing protection devices market.

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The global hearing protection devices market is considered to influence the labor and employee safety initiatives implemented by national government bodies and private labor safety related agencies in various industrial sectors such as manufacturing and construction. High-tech advancements to reduce active noise and aid noise suppression have led to impressive growth of the global market in the recent past. A latest development permits speech augmentation technology to be combined with noise clampdown technology. 

The strengthened events related to industrial and construction and lightning industrial development in emerging economies may lay a substantial groundwork for growth of the Asia Pacific market progression. North America is projected to retain its dominance as the largest market for hearing protection devices over the following decade. This is mainly attributed to copious disposable income, pervading awareness about noise pollution, and rampant industrial development in the region. Lack of cognizance about the present products or devices that help prevent impaired hearing could inhibit growth of the hearing protection devices market, especially in low income countries. However, increasing implementation of safety standards in the region would pave way for market growth over the near future. Apart from Asia Pacific, increasing industrial and construction activities in Middle East and Africa create lucrative growth opportunities for market players. 

Key takeaways of the hearing protection devices market:

  • The global hearing protection devices market is expected to expand at a CAGR of 10.8% during the forecast period (2016–2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
  • The ear plug dominates the market in the product segment as it is the easy affordable product developed and focused by mobile health device manufacturers
  • Different protectors such as aural inserts and circum-aural protectors are expected to gain traction with growing awareness and increasing application areas
  • Mining and construction are the major end users in the hearing protection devices market, as these organizations are human resource intensive sectors
  • Some of the major players involved in global hearing protection include 3M, Starkey Laboratories India Pvt. Ltd, Honeywell International Inc, Hellberg Safety Ab, Amplifon., Dynamic Ear Company, Centurion Safety Products Ltd., Sonomax Technologies Inc, Siemens Healthcare GmbH, ADCO Hearing Products Inc, and Elvex Corporation and Moldex-Metric Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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