Over three years to 2016, IBISWorld forecasts the price of fall protection and rescue equipment to grow due to increased demand.
Los Angeles, CA (PRWEB) March 28, 2014
The fall protection and rescue equipment market has a buyer power score of 2.8 out of 5. A buyer power score of 2.8 indicates that buyers have a good amount of price negotiation power in this market. Buyer power is broken down into three sections: market risk, price trend and market structure. Low risk in the fall protection and rescue equipment market improves buyer power by providing a more stable pricing environment, says IBISWorld analyst Jonathan Noury-Elliard. As prices become more stable, buying time and price hikes are less of a concern for buyers.
The next component working for buyer power is the price trend. Prices for f all protection and rescue equipment have decreased over the three years to 2013 due to rising competition, which has benefited buyers during this time. Over the three years to 2016, however, prices are forecast to increase due to growing demand from buyers and the lack of available substitutes, continues Noury-Elliard. Long-term contracts should be negotiated as soon as possible to lock in lower prices and improve buyer power over time. Major players in this market include Black Diamond Inc., Honeywell International Inc. and 3M Company.
Market structure is the final component working for buyer power. The fall protection and rescue equipment market has a low level of concentration and low switching costs, which is beneficial for the buyer. These components allow for an easy transition when switching between suppliers and a market price that is managed by competition. However, a low availability of substitutes and high product specialization neutralize these beneficial factors and work against buyer power. For more information, visit IBISWorld’s Fall Protection & Rescue Equipment procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of fall protection and rescue equipment. Fall protection and rescue equipment includes safety harnesses and belts, pulling grips, ascenders, safety and wire rope ladders, and safety slings. Manufacturers, wholesalers and retail suppliers sell these products. This report excludes other safety apparel and equipment products.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.