PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401780
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401780
Respiratory Protective Equipment Market size was valued at USD 13,910 Million in 2022, expanding at a CAGR of 6.5% from 2023 to 2030.
Respiratory Protective Equipment (RPE) is a category of personal protective equipment that guards against inhaling potentially harmful substances. A specific kind of personal protective equipment (PPE) called respiratory protective equipment (RPE) guards against dangerous compounds inhaled by the wearer while they are at work.
Respiratory Protective Equipment Market- Market Dynamics
Increasing awareness about safety and high demand for disposable RPE to propel market demand
The RPE market is predicted to grow favorably as a result of strict government rules and increased awareness of worker safety. During the COVID-19 epidemic, disposable mask demand increased dramatically, forcing manufacturers to increase their output. In addition, disruptions in the supply chain led to a shortage of raw materials, which drove up costs. Through financial stimulus packages, some governments have been concentrating on infrastructure development, which is anticipated to strengthen the global construction sector. The need for RPE will certainly increase because of the expanding infrastructure operations, which are expected to raise awareness of chronic respiratory conditions including chronic obstructive pulmonary disease (COPD). Because RPE requires sophisticated manufacturing techniques and expensive raw materials, its production is very capital-intensive.
Respiratory Protective Equipment Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2023-2030)
Based on Product segmentation, Air-purifying respirators (APR) was predicted to show maximum market share in the year 2022, owing to high demand for disposable and surgical masks.
Based on End-User segmentation, healthcare was the leading End-User in 2022, mainly due to high prevalence of infectious diseases.
On the basis of region, North America was the leading revenue generator in 2022, owing to high penetration of RPE products.
The Global Respiratory Protective Equipment Market is segmented on the basis of Product, Deployment, End-User, and Region.
The market is divided into six categories based on Product: Air-purifying respirators (APR) and Supplied Air Respirators (SAR). The Air-purifying respirators (APR) segment dominates the market. Increasing demand from chemical, pharmaceuticals industry is contributing to segment growth. Supplied Air Respirators (SAR) is anticipated to grow at the fastest CAGR.
The market is divided into six categories based on End-User: healthcare, oil & gas, chemical, pharmaceuticals, construction, and others. The healthcare dominates the market and is likely to maintain its dominance during the forecast period. The growing awareness of safety in healthcare operations is mainly boosting the demand for RPE equipment in hospitals and clinics.
Respiratory Protective Equipment Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to capture a significant market share over the forecast period. Over the past few years, the region has seen a rise in the usage of RPE because to its expanding use in the oil and gas drilling, electric power utility, and combustible dust sectors. Moreover, throughout the course of the forecast period, strict safety requirements are anticipated to be the primary drivers of the market in North America. The sector is anticipated to benefit from the significant oil and gas deposits found in Venezuela, Columbia, Argentina, Brazil, and other countries. Furthermore, the demand for new oil and gas refineries is anticipated to increase due to the great potential of tight oil and gas in Argentina's Vaca Muerta region.
Because of the enormous development potential that the COVID-19 pandemic has created in the disposable filtering half-mask market, major players are concentrating on the healthcare sector. Furthermore, increasing collaborations with suppliers of raw materials and supply chains that are changing due to technological advancements are predicted to accelerate the industry's expansion. Market participants refocus their attention on technology integration while investing in product development. Price competition and product and raw material hoarding have developed from the pandemic's increased market rivalry, which will probably have an impact on the market growth over the forecast period.
In June 2022, Avon Protection Plc, revealed a range of EXOSKINTM CBRN gloves and boots that act as respiratory protective equipment for military personnel.
In May 2022, 3M, Inc. announced its plan to make expansions in its operation in Valley, Nebraska. The purpose is to enhance the production capabilities.
The scope of this report covers the market by its major segments, which include as follows: