PUBLISHER: The Business Research Company | PRODUCT CODE: 1391186
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391186
“Electrical Safety Personal Protective Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electrical safety personal protective equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electrical safety personal protective equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The electrical safety personal protective equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Electrical safety personal protective equipment (PPE) is crucial for safeguarding workers from potential electrical hazards, minimizing the risk of severe injuries and fatalities in industrial and workplace settings. This specialized safety gear incorporates features such as tear resistance, dimensional stability, flame resistance, flame propagation prevention, and thermal arc resistance.
The key product categories within electrical safety PPE include head protection, eye and face protection, hearing protection, protective footwear, hand protection, and arc-rated clothing. Eye protection, a subset of PPE, is specifically designed to prevent eye injuries, while face protection encompasses gear that shields the entire face. These safety measures are essential in various sectors, including electrical, automotive, oil and gas, machinery, construction, mining, and other industries where workers may encounter shock and arc flash hazards.
The electrical safety personal protective equipment market research report is one of a series of new reports from The Business Research Company that provides electrical safety personal protective equipment market statistics, including electrical safety personal protective equipment industry global market size, regional shares, competitors with an electrical safety personal protective equipment market share, detailed electrical safety personal protective equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical safety personal protective equipment industry. This electrical safety personal protective equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electrical safety personal protective equipment market size has grown strongly in recent years. It will grow from $14.39 billion in 2023 to $15.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The expansion observed in the historical period can be ascribed to several factors, including the aging of electrical infrastructure, a rising need for preventing electrical incidents, an emphasis on worker safety and injury reduction, heightened demand for electrical equipment maintenance, increased levels of construction and industrial activities, and the implementation of occupational safety regulations and standards.
The electrical safety personal protective equipment market size is expected to see strong growth in the next few years. It will grow to $21.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period is driven by a heightened emphasis on fostering a safety-oriented workplace culture, the expanding growth of renewable energy and electrical generation, the development of electric vehicle (EV) charging infrastructure, the electrification of transportation, global market expansion initiatives, and the growing prevalence of remote work with a focus on safety solutions. Noteworthy trends expected in this period encompass advancements in arc flash protection gear, the evolution of electric vehicle (EV) charging infrastructure, the integration of Internet of Things (IoT) and smart wearables for safety monitoring, as well as the adoption of sustainable and eco-friendly materials in personal protective equipment (PPE). Additionally, strategic collaborations are anticipated to play a significant role in shaping the industry landscape.
The growth of industrialization is playing a significant role in driving the expansion of the electrical safety personal protective equipment market. Industrialization, the shift from agrarian to manufacturing-based economies, is associated with increased electricity demand and heightened awareness of electrical hazards. This trend is promoting the adoption of electrical safety personal protective equipment to safeguard workers. For example, a report from Trading Economics in February 2022 noted a substantial 7.5% year-over-year growth in industrial production in the United States, representing the largest yearly increase since June 2021. This upsurge in industrialization is a driving force behind the growth of the electrical safety personal protective equipment market.
The automotive industry's increasing demand is anticipated to be a key driver propelling the growth of the electrical safety personal protective equipment market. The automotive sector, encompassing various activities from design to maintenance of motor vehicles, relies on electrical safety personal protective equipment to protect workers from electrical hazards. This equipment is crucial for ensuring regulatory compliance, enhancing productivity, and minimizing the risk of accidents and equipment failures in the automotive manufacturing and maintenance processes. In May 2023, the European Automobile Manufacturers Association reported a global production of 85.4 million motor vehicles in 2022, marking a substantial 5.7% increase from the previous year. Additionally, data from Brand Finance plc in February 2022 highlighted a noteworthy 10% increase in global automobile sector sales, reaching approximately 78 million units.
A key trend in the electrical safety personal protective equipment market is the emergence of strategic partnerships and collaborations among key players. Companies in the market are increasingly leveraging partnerships to strengthen their positions. A notable example is the strategic partnership between Unisync Corp., a Canada-based provider of corporate apparel and protective garments, and Mark's, a Canada-based clothing and footwear retailer. Announced in March 2021, this collaboration aimed to deliver branded safety boots across large-scale managed clothing uniform contracts, starting with one of Unisync's major airline clients. Such strategic partnerships enhance product offerings and service-oriented approaches, contributing to the overall growth of the electrical safety personal protective equipment market.
Major companies in the electrical safety personal protective equipment market are strategically focusing on innovative products, particularly in the realm of head protection products, to drive revenue growth. Head protection products constitute a category of personal protective equipment (PPE) designed to ensure the safety of the head and brain from potential hazards, impacts, falling objects, or injuries in various work environments. In a notable example, Milwaukee Electric Tool Corporation, a US-based manufacturer of heavy-duty power tools, hand tools, and accessories, launched head protection products in September 2022. The Milwaukee BOLT system allows users to fasten safety accessories simultaneously, offering comprehensive head protection. The BOLT safety portfolio includes eye visors, metal mesh face shields, polycarbonate face shields, and the BOLT red lithium USB headlamp. The innovative BOLT eye visors are designed to fit seamlessly with headlamps, providing a tool-free snap-in, snap-out mechanism for easy replacement of face shield lenses. The BOLT mesh complete face shield, constructed from robust stainless steel, provides protection against flying debris during tasks such as chipping and cutting.
In a strategic move in April 2021, Honeywell, a US-based conglomerate corporation, acquired Norcross Safety Products for $1.2 billion. This strategic acquisition positions Honeywell to have a comprehensive platform in a fragmented, global segment, offering substantial growth opportunities. Norcross Safety Products, the acquired company, is a US-based manufacturer of personal protective equipment. This acquisition reinforces Honeywell's commitment to expanding its capabilities in the personal protective equipment sector, aligning with the growing demand for advanced safety solutions in various industries.
Major companies operating in the electrical safety personal protective equipment market include Honeywell International Inc., Ansell Ltd., Baymro Safety China, COFRA Srl, 3M Company, Kimberly-Clark Corporation, Uvex Group, MSA Safety Incorporated, Mallcom (India) Ltd., Udyogi Plastics Pvt. Ltd., Paulson Manufacturing Corporation, Rock Fall Ltd., National Safety Apparel Inc., Chicago Protective Apparel Inc., Cintas Corporation, DuPont de Nemours Inc., Radians Inc., Lakeland Industries Inc., Delta Plus Group, Alpha Pro Tech Ltd., COFRA Holding AG, Oftenrich Holdings Co. Ltd., Avon Rubber plc, JAL Group France SAS, Lakeland Industries Inc., Lindstrom Group, Moldex-Metric AG & Co. KG, Protective Industrial Products Inc., Sioen Industries NV, W.L. Gore & Associates Inc., TST Sweden AB, Ballyclare Limited, Delta Plus Group, Dragerwerk AG & Co. KGaA, Encon Safety Products Inc., Gateway Safety Inc., Gentex Corporation, International Enviroguard Systems Inc., Kappler Inc.
Asia-Pacific was the largest region in the electrical safety personal protective equipment market in 2023. The regions covered in the electrical safety personal protective equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the electrical safety personal protective equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The electrical safety personal protective equipment market consists of sales gloves, boots, protective hoods, safety glasses. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.