August 06, 2019
Worldwide electrical safety personal protective equipment (PPE) market is expected to accrue more than USD 20 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
According to the report, growing incidences of electrical accidents around the globe are creating the need for safe occupational environment which in turn is driving the electrical safety PPE market growth. The government agencies like EU Commission and OSHA are underlining strict safety regulations for industries to follow by undertaking regular inspection and timely assessment to avoid electric hazard injury. This encourages the industries to adopt electrical safety PPEs and drives the market growth.
The hazardous situations such as improper earthing, live wire, electrocutions, and other fatalities can be avoided by the use of electrical safety PPE. Many industries including manufacturing, power generation, food processing, automotive, and construction are increasingly adopting PPE due to burgeoning safety awareness among the workers and the need to decrease financial losses.
The arc rated protective clothing is flame resistant and is used to protect the workers from the extreme heat generated in case of flash accidents. The US market of arc rated clothing is expected to exceed USD 1 billion by the year 2025. Increasing cases of arc flashes, high compensation costs, and financial losses will propel region’s electrical safety PPE market in the ensuing years.
As cited in the report, the electrical safety PPE market faces multiple challenges. Raw material price, supply concerns, and existence of substandard products in the market are the major factors impacting the profitability and price trends of this business space. The need to meet strict functional and quality requirements for protection equipments increase the production cost, deterring the market growth.
The electric safety PPE market for India is projected to record 7.5% gains by the end of the forecast period owing to surging civil infrastructural operations. The increase in the power generation and distribution programs undertakenby private and public sectors employing numerous workers will aid the market growth.
According to the study, the hand protection equipment market is presumed to accrue USD 7 billion by the year 2025 due to being the first line defence mechanism. The segment includes insulated rubber gloves and leather protective sleeves protecting the fingers, wrists, hands, and lower arms from serious damage.
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In terms of regional contribution, France electrical safety PPE market is anticipated to cross USD 900 million by 2025. The substantial market growth can be credited to government’s massive investment in renewable energy generation projects with construction of windmills and subsequent maintenance of the plant. Moreover, China and India are predicted to contribute significantly to market growth, owing to the rising electrification and transmission activities due to rapid urbanization and industrialization. Growing number of personnel working on transmission lines will bolster the demand for electrical safety PPE.
The major participants of the electrical safety PPE market profiled in the report include 3M, UVEX Safety, Paulson Corp, Oberon, Honeywell, COFRA, Ansell, Black Stallion, and NSA. The manufacturing companies are taking initiatives to develop new products offering better protection and efficiency with wear ability, comfort, visibility, and light weight.