Government regulations and standards have made it mandatory for industries to ensure that workers use protective equipment in certain types of work environment. This is paramount for workers in sectors such as oil & gas, construction, and manufacturing, among others. Safety equipment needs precise manufacturing guidelines and must follow the regulations/safety standards to make said equipment appropriate for use, storage, and maintenance for extended periods. This has resulted in PPE market vendors to shift their focus towards producing efficient and durable safety equipment.
The manufacturing industry accounts for approximately 22% of the global PPE market share and will continue to lead the way through 2020. Analysts estimate that this market segment will grow steadily at a CAGR of more than 8% during the predicted period, owing to the increasing emphasis on the importance of workplace safety.
PPE for oil and gas industry is expected to grow nearly USD 10 billion in market size between 2017-2021, accelerating at a CAGR of 8% during the forecast period. The growth of PPE in this industry will be attributed to the rising enforcement of occupational safety regulations and the growing number of occupational injuries and fatalities. The most popular segments of PPE for the oil and gas industry are head, eye, and face protection and respiratory protection. The head, eye, and face protection segment accounts for approximately 22% of the PPE market for the oil and gas industry, while the respiratory protection segment accounts for 19%. Fall protection, protective clothing, and hand and arm protection make up the rest of the top five segments.
The global PPE market in the construction industry will increase more than USD 4.3 billion in market size between 2015-2020, surpassing USD 13 billion by the end of the forecast period. This market’s growth is being spurred by the increasing construction industries in various regions such as Asia-pacific, Middle-East, and Africa. This end-user segment will accelerate at a CAGR of close to 8% by 2020.
