Fall Protection Equipment Market Will Reach USD 5.12 Billion By 2028
The fall protection equipment market is expected to experience significant growth from USD 3.13 Billion in 2020 to USD 5.12 Billion by 2028, with a CAGR of 6.39% during the forecast period. The market growth is primarily driven by the increasing demand for labor safety. Fall protection equipment is essential in protecting workers from injuries while working at heights and preventing repetitive stress injuries. Examples of fall protection equipment include chest harnesses, full body harnesses, safety nets, body belts, and suspension belts.
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The market is growing due to the rising concern for overall safety in the workplace, the growing need for emergency services, and the increasing number of industry fatalities. The market is divided into categories such as hard goods, soft goods, access systems, rescue kits, and services. Access systems, which include vessels, sewers, confined spaces, and tripod products used in tanks and other applications, are expected to exhibit the highest growth rate of 7.88% during the forecast period.
Industries such as construction, oil and gas, general industry, mining, and transportation are covered in the market analysis. The construction sector is projected to be the largest contributor to the market's growth during the forecast period due to mandatory regulations regarding the use of fall protection equipment to minimize accidents during construction activities.
The market for fall protection equipment is segmented into five regions: North America, Asia-Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. North America is expected to dominate the market, accounting for the largest share of 40%.
The key players in the fall protection equipment market are Honeywell International Inc. (US), 3M Company (US), MSA Safety Inc. (US), GF Protection Inc. (US), SKYLOTEC GmbH (Germany), Kee Safety, Inc. (UK), Werner Co. (US), W.W. Grainger, Inc. (US), Total Access (UK), and FallTech (US).
The market has been segmented based on category, industry, and region as follows:
Category Outlook (Revenue, USD Million; 2020-2028)
- Hard goods
- Soft goods
- Access system
- Rescue kit
- Services
Industry Outlook (Revenue, USD Million; 2020-2028)
- Construction
- Oil & gas
- Mining
- General industry
- Transportation
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America (U.S.)
- Europe (Germany, UK)
- Asia Pacific (China, India)
- Latin America (Brazil)
- MEA
Fall Protection Equipment Market: Drive factors
The fall protection equipment market is primarily driven by the increasing demand for labor safety. As more industries recognize the importance of protecting their workers from falls and injuries while working from heights, the demand for fall protection equipment is expected to increase.
Additionally, growing concerns about overall safety at places of work and the increasing need for emergency services are also contributing to the growth of the fall protection equipment market. Furthermore, mandatory regulations by governments of various countries around the globe regarding the use of fall protection equipment to reduce the number of accidents during construction activities are expected to drive the growth of this segment.
The market is also experiencing growth due to the rising number of fatalities in various industries, such as construction, mining, and transportation. In response to these incidents, companies are investing in fall protection equipment to ensure the safety of their workers.
In terms of specific categories, the access system sector is expected to show the highest growth during the forecast period, owing to the enhanced demand for protective equipment used in vessels, sewers, confined spaces, tanks, and other applications.
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