PUBLISHER: Grand View Research | PRODUCT CODE: 1446507
PUBLISHER: Grand View Research | PRODUCT CODE: 1446507
The global fall protection market size is expected to reach USD 4.5 billion by 2030 and is projected to grow at a CAGR of 7.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing fatalities along with the growing relevance of workplace safety and security, are expected to fuel industry expansion during the forecast period. As per the 2022 World Health Organization Report, falls constitute a significant public health issue, with 684,000 fatal incidents occurring annually. This makes falls the second-leading cause of unintentional injury-related deaths after road traffic injuries.
As per the National Institute for Occupational Safety and Health (NIOSH) Construction Statistics, falls continue to be the primary cause of fatalities in the construction industry, which is one of the most hazardous industries in the U.S. In 2023, falls in the construction industry accounted for over one-third of all industry-related fatalities. Each year, over 300 workers experience fatal falls while doing their routine job tasks, and this statistic has shown relative stability in the past decade.
Fatalities due to falls from heights constitute the primary cause of death in the construction industry. Regardless of the distance involved, any work conducted at elevated levels poses the risk of severe or fatal injuries in the event of a fall. For instance, 3M Fall Protection is dedicated to providing construction workers with the necessary equipment, training, knowledge, and expertise, thus instilling confidence in them to execute their tasks safely and effectively. These aforementioned factors are expected to augment the market growth over the forecast period.
Moreover, governments globally are implementing and enforcing stringent safety regulations to ensure a secure working environment. A pivotal initiative to raise fall prevention awareness is the National Safety Stand-Down, an annual voluntary event coordinated by OSHA and other safety organizations. Typically occurring in May, this event brings together supervisors, employers, and workers to increase their awareness about possible fall hazards in the construction industry. During the Stand-Down, work is temporarily halted, and participants engage in training sessions, discussions, and equipment inspections focused on fall prevention. These activities are designed to educate workers to recognize fall hazards and use appropriate safety equipment.
Occupational Safety and Health Administration (OSHA) has further mandated that fall prevention measures are imperative for falls of six feet or more to the ground or lower surfaces. Examples of such systems include guardrails and mid rails that are installed on scaffolds, along the open edges of floors, around skylights, on scissor lifts, as covers over floor openings, and in designated restricted zones during roofing operations. These protective systems adhere to specific design requirements outlined in OSHA standards for construction. For instance, guardrails must be positioned between 39 and 45 inches above the walking and working surface and must possess the capacity to withstand a force exceeding 200 pounds.
Fall protection machine manufacturers are seeking collaborations and mergers & acquisitions to develop advanced and innovative solutions. In addition, manufacturers are also adopting several strategies, like product development and geographical expansion, to enhance their market penetration and cater to end-use industries. For instance, in January 2024, WernerCo introduced a groundbreaking fall protection utility lifeline tailored for utility workers and linemen that provides them with an elevated level of climbing security. This innovative offering includes an anchor strap fall arrest system, which is specifically designed to meet the unique safety requirements of professionals working on utility poles or similar structures. With this product launch, WernerCo demonstrates its commitment to advancing safety solutions for workers in specialized industries, thereby offering a comprehensive and effective tool to enhance fall protection in utility-related environments.