Fall Protection Equipment Market Size, Industry Analysis Report By Type (soft goods, hard goods, installed systems, access systems, rescue kits, services), By end-user (construction, mining, oil and gas, energy, transportation, telecom and utility, general industry) & Region – Forecast By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 224
- CATEGORY
- Construction & Manufacturing
Fall Protection Equipment Market is valued at around USD 2.61 billion in 2022 and is expected to reach USD 4.36 billion by 2030, registering a CAGR of 6.1% over the forecast period. To keep workers safe when working at heights, fall protection equipment is a type of protective equipment that is used in many end use industries.
Market Growth Factor
One of the main factors fuelling the market's expansion is the rapid industrialization taking place all over the world. Accordingly, occupational hazards are becoming more common as a result of inadequate safety measures at various manufacturing, mining, and other industrial sites.
Market Trends
• The primary market driver is the rise in demand for worker safety. The figures were calculated by examining the market for fall protection equipment's potential for commercialization in light of present-day and anticipated trends, as well as the specifications needed for various end users.
• In terms of usage during the past year and the upcoming period, end user demand for fall protection has been examined.
• An increase in public understanding of the significance of workplace safety is another factor fuelling industry expansion. This is particularly clear in the construction industry, where there have been more accidents recently involving falls from great heights.
• As a result, fall protection equipment is now much more frequently used by construction workers, which is driving up demand for such products.
Market Segmentation
Fall Protection Equipment Market fragrance concentrates market has been sub-classified into type, end-user.
On The Basis Of Type, The Fall Protection Equipment Market Is Bifurcated Into:
• hard goods
• installed systems
• access systems
• rescue kits
• services
• others
On The Basis Of End-User, The Market Segmented Into:
• construction
• mining
• oil and gas
• energy
• transportation
• telecom and utility
• general industry
• Others
Market Regional Analysis
Asia-Pacific dominated the global Fall Protection Equipment Market, accounted for 41.1% of the global market for fall protection equipment in 2021, making it the largest market. With a 28.7% market share, Europe is the second-largest market, followed by Asia-Pacific and the rest of the world. The high cost of fall protection gear and the lack of worker awareness of fall protection are two obstacles facing this market.
Key Market players
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Fall Protection Equipment Market is valued at around USD 2.61 billion in 2022 and is expected to reach USD 4.36 billion by 2030, registering a CAGR of 6.1% over the forecast period.
What are the drivers shaping various markets?
One of the main factors fuelling the market's expansion is the rapid industrialization taking place all over the world.
Who are the key competitors of market Players?
Some of the major players operating within the market are 3M Company, ABS Safety, Bergman & Beving AB, Carl Stahl GmbH, FallTech, Honeywell International Inc., Kee Safety Inc., MSA Safety Incorporated, Petzl, Pure Safety Group Inc., SKYLOTEC GmbH, W. W. Grainger Inc. and Werner Co. (Triton), and others.
What are the top performing segments, and countries / regions of each of the markets?
Asia-Pacific dominated the global Fall Protection Equipment Market, accounted for 41.1% of the global market for fall protection equipment in 2021, making it the largest market. With a 28.7% market share, Europe is the second-largest market, followed by Asia-Pacific and the rest of the world.
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