Industrial Hand Protection Gloves Market Is Estimated To Witness High Growth Owing To Increasing Safety Awareness
The Industrial Hand Protection Gloves Market is estimated to be valued at Us$ 14201.83 Mn or Us$ 14.20183 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial hand protection gloves are personal protective equipment used across various industries to protect hands from injuries, cuts, burns, infectious liquids, and chemicals. They help prevent accidents and maintain workplace safety. Key industries utilizing these gloves include oil and gas, automotive, chemical, construction, healthcare, and food processing.
Market Dynamics:
The industrial hand protection gloves market is primarily driven by increasing awareness regarding workplace safety. Stringent worker safety regulations across industries have compelled companies to offer protective equipment like gloves. Moreover, hazardous work environments dealing with molten metals, chemicals, and heavy machinery further accentuate the need for robust hand protection. However, availability of low-cost alternatives especially in developing nations can hamper market revenue growth. Ongoing research & development to produce breathable, cut-resistant, and anti- static gloves will open new market opportunities over the forecast period.
SWOT Analysis
Strength: Industrial hand protection gloves provide reliable protection against hazards in industrial work environments. They are designed to protect hands from cuts, abrasions, chemicals, dust, and extreme temperatures. Many gloves are puncture and cut resistant to guard hands from sharp surfaces.
Weakness: Frequent use of gloves can cause sweating and decrease sensitivity of touch. Very heavy-duty gloves may be bulky and restrict fine motor skills.
Opportunity: Growing awareness about workplace safety and stringent regulations are increasing demand for hand protection products. Expanding manufacturing and construction industries across developing nations provide new growth avenues.
Threats: Availability of low-cost alternatives from local manufacturers posing pricing pressure. Economic slowdowns can negatively impact demand from core end-use industries.
Key Takeaways:
The Global Industrial Hand Protection Gloves Market Demand is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing worker safety compliances and regulations across industries. Rapid industrialization and infrastructure growth especially in Asia Pacific are driving usage of hand protection equipment in construction, manufacturing, and oil & gas sectors.
Regional analysis
The Asia Pacific dominated the industrial hand protection gloves market in 2022, accounting for around 35% of global revenue. China, India, and other Asian countries have witnessed booming industrial activity and infrastructure development, thereby increasing demand. Europe and North America are other major regions due to stringent worker safety norms and presence of manufacturing base. Growth in Middle East & Africa and Latin America is supported by government initiatives for industrialization.
Key players
Key players operating in the industrial hand protection gloves market are Kossan Rubber Industries Bhd, Uvex Group, 3M Company, COFRA Srl, Hartalega Holdings Berhad, MCR Safety, Top Glove Corporation Berhad, Midas Safety Inc., Protective Industrial Products, Inc., Ansell Limited, Kimberly Clark Corporation, Honeywell, and Alpha Pro Tech Limited. These established brands dominate global sales through extensive product portfolios and wide distribution networks.
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