Electrical Safety Products Market: Current Analysis and Forecast (2022-2028)

Electrical safety products are referred to as products used to protect the workers from the electrical hazards. These products consists several types of wearables and protective equipments to safeguard against shock, fire and electrocution at industrial or commercial premises. Electrical safety products have gained cosnsiderable recognition in recent times across the globe, as it provides the required safety, comfort and mobility to the working personnel. Rapid development in the field of construction and industrial sectors is anticipated to act as a major role in propelling the growth of the electrical safety products.

The Electrical Safety Products market is expected to grow at a steady rate of around 7% owing to the rise in demand for worker's safety at the office, factory or commercial spaces coupled with rapid industrialization and growing need of safety measures to prevent hazardous effects of static electricity are the major factors that are fueling the growth of the global electrical safety products market. The upsurge in laid down of international benchmarks & guidelines is also one of the key feature driving the growth of the market. Furthermore, technological advancements and innovation to improve the efficacy and efficiency of electrical safety products will boost the growth of the global electrical safety products market during the forecast period. For instance, in November 2019, Ansell Limited, a global player in safety services, in collaboration with ProGlove, a leading provider of industrial wearable, introduced protection solutions to ensure compliance with the appropriate personal protective equipment compliance at the workplace.

Based on type, the market is segmented into electrical personal protective equipment, wearable rubber insulation, arc flash safety and insulating tools. The arc flash safety category in power utility market is expected to offer lucrative opportunities for the growth and expansion of electrical safety products market during the forecast period owing to the presence of various government policies and safety regulations, surge in investment in the electrical networks and rising urbanization. Furthermore, wearable rubber insulation in the industrial & commercial segment of the electrical safety products market is also anticipated to present siginificant growth during the forecast period. Owing to the constant upgrade in infrastructure, developments in the construction sector, and investment in telecommunication, which ultimately cause higher demand for electricity, and therefore is projected to rise the demand for electrical safety products.

Based on application, the electrical safety products market has been categorized into shock hazard and arc flash hazard. Among them, the arc flash hazard segment held the greatest share in the market due to the presence of high risk of electrocution and rising accidental exposure to energized components. Due to such threats consumers, industries and workers are emphasizing more on arc flash safety, resulting in surge in demand of electrical safety products market during the forecast period. For instance, from 2003 to 2020, the construction industry accounted for 54% of all fatal work-related injuries.

Based on end-use industry, the market is divided into power utility and industrial and commercial. Among them, the power utility segment held the maximum market share and is expected to maintain its position during the period of forecast owing to the economic growth in the developed nations and high demand for electrical safety products across the world.

For a better understanding of the market adoption of the electrical safety products industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America holds the major market share in electrical safety products market and is anticipated to grow at a substantial CAGR during the forecast period. Owing to the inclination of end-use industries to adopt safety measures at the workplace In addition, technological advancement in electrical safety products is to act as a major factor for the market growth in the region. Laid down of guidelines followed by industries and implementation of electrical safety programs would propel the growth of the market. Asia-Pacific also displayed a steady growth in the market during the period of forecast owing to the extensive adoption of electrical safety products would fuel the market growth during the forecast period in the region.

Some of the major players operating in the market include: Ansell LTD., BSD GmbH, Workwear Outfitters, LLC., CHARNAUD & Co (Pty) Ltd., Chicago Protective Apparel., National Safety Apparel, Cintas Corporation, Oberon Company, Paulson Manufacturing, and Enespro PPE.