Construction safety nets are made of high-tenacity polyester or nylon and provide fall protection at heights for workers involved in construction, maintenance and repair activities. They arrest free falls and prevent workers from hitting lower levels or ground. With rising infrastructure development activities and fatalities associated with lack of safety at work sites, the demand for construction safety nets has increased significantly.
The global Construction Safety Net Market is estimated to be valued at US$ 3.98 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Infrastructure projects such as construction of roads, bridges and buildings involve work at height which places workers at high risk of serious injury or death due to falls. Stringent regulatory policies and standards pertaining to workers safety across regions have boosted the adoption of fall protection equipment such as construction safety nets. Growing construction of smart cities and commercial buildings in developing nations is also driving the need for fall prevention and arresting systems. Development of lightweight nets using high-strength fibers is a key trend witnessed in the global construction safety net market.
Segment Analysis
The global construction safety net market is dominated by the installation segment, which accounts for nearly 60% share of the overall market. This is because installation of safety net requires expertise and technical know-how to ensure safety of workers at construction sites. Improper installation can lead to serious accidents. Therefore, most construction companies rely on safety experts for installing the nets properly as per industry standards and regulations.
Key Takeaways
The Global Construction Safety Net Market Share is expected to witness high growth over the forecast period of 2024 to 2031. Rising industrialization and infrastructure development activities across major economies are driving demand for safety measures at construction sites. The global Construction Safety Net Market is estimated to be valued at US$ 3.98 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.
Regional analysis
Asia Pacific region currently dominates the global construction safety net market and is expected to maintain its leading position during the forecast period. This is attributed to strong growth in end-use industries such as buildings and infrastructure development in densely populated countries such as China and India. Rapid urbanization and government focus on public infrastructure are fueling new construction projects in the region.
Key players
Key players operating in the construction safety net market are Heraeus Holding, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company. These players have been focusing on new product development and expansion in emerging economies to strengthen their position.
Get More Insights Here
https://www.newswirestats.com/construction-safety-net-market-size-share-growth-outlook-2023/
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