Personal Protective Equipment: A Global Strategic Business Report
San Jose, CA (Vocus) October 6, 2010
Personal protective equipment has for long remained functionality driven products. However, growing consumer desire to combine safety with style, and protection with comfort is leading to effervesce in innovation. A staggering array of products and solutions are now being offered, with an option for customization wherever required. Longstanding growth drivers in this market, which have and which will continue to push gains include legislations which enforce standards of worker safety, employment rates, increasing awareness regarding safety among industrial workforce, level of construction activity, rising sense of professionalism that accelerates acceptance of protective wear as part of worker’s paraphernalia and rise in career prospects for risky professions.
Growth of personal protective equipment (PPE) receded as a result of the financial crisis and resulting world economic recession. The softness in business climate is expected to continue into the year 2010. Most of manufacturers earned below their potential, as sales of these products are tied to economy and employment rates, which witnessed a drastic decline. Demand was worst hit in most recession-beaten end-use sectors including vehicle manufacturing, steel, chemical and construction industries, while demand from public sector recorded relatively cushioned falls. Body protection, which includes fall protection, protective clothing, protective gloves, and safety footwear was affected by the meltdown in the construction industry, while head protection, which includes eye and face protection, respiratory protection and hearing protection was relatively cushioned due to outbreak of H1N1 virus. Dollar sales weakened with employers largely replacing expensive PPE with cheaper alternatives.
Despite the weakening in market variables brought about by the recession, the PPE market has successfully weathered the downturn without recording hurting erosion in sales and revenues. This is largely because the underlying economics of PPE goes beyond the temporary weakness in the market’s climate. Companies cannot afford to cut corners on PPE for long, given the disproportionately higher costs associated with employee/worker injuries, loss in productivity/performance, and penalties paid for violation and non-conformance of OHS laws. These costs tend to far outweigh any gains stemming from cutting PPE expenditures as a measure to save money. Additionally, a comfortable percentage of the PPE market is built upon legally binding requirements.
As stated by the new market research report on personal protective equipment, Europe and United States collectively account for a major share of the global market. Driven by rapid industrialization induced new manufacturing works and construction projects underway in developing markets of India, China and Vietnam, Asian market for Fall Protection Equipment is projected to reach US$122.3 million by the year 2015.
In the post recession period, market for personal protective equipment, such as eye, hearing, face and head protection; respiratory protection, as well as other personal protection products, is expected to fare better. Future growth in this market will be based on revival of economy, cost of accidents, increased insurance costs, and need for replacements as a result of obsolescence, and wear & tear. Also, the cost-effectiveness and sturdiness, the versatility and maneuverability, and the durability and availability of protective clothing & equipment will power its re-emergence onto the center-stage among the end-user sectors.
Personal protective clothing and equipment equipped with hybrid materials, smart technology and nanotechnology will witness rising demand. Products with integrated PPE (personal protective equipment) will provide increased revenues in long term. Driven by rising focus to combat bio terrorism and risk of infectious diseases, global market for Respiratory Protection Equipment, is projected to reach US$3.8 billion by 2012.
Key players in the marketplace include 3M Company, Alpha Pro Tech Ltd, Ansell Healthcare Products LLC, Avon-ISI, BartelsRieger Atemschutztechnik GmbH & Co, Bekina NV, Björnkläder AB, Drägerwerk AG & Co, Eurodress GmbH, Interspiro, Gateway Safety Inc, Honeywell Life Safety, Jallatte Group, JSP Ltd., Kimberly-Clark Professional, Latchways Plc, Kwintet AB, Mine Safety Appliances Company, Moldex-Metric Inc, Pacific Helmets (NZ) Ltd, Respire Ltd., Saf-T-Gard International Inc., Sioen Industries NV, Skylotec GmbH, Scott Health & Safety, Sperian Protection, Wells Lamont Industry Group, Z &V Group, among others.
The report titled "Personal Protective Equipment: A Global Strategic Business Report", announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, product profile, players, competition, technological developments, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value (US$) for major geographic markets such as the United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Product markets analyzed include Traditional Workwear, Protective Clothing, Respiratory Protection Equipment, Eye & Face Protection Equipment, Hearing Protection Equipment, Head Protection Equipment, Fall Protection Equipment, and Gloves and Footwear.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Personal_Protective_Equipment_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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