The global confined space PPE market is in the nascent growth stage. Market revenue for 2020 hit $235. 3 million and will reach $276. 7 million by 2025, increasing at a compound annual growth rate (CAGR) of 3.
New York, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Confined Space Personal Protective Equipment (PPE) Growth Opportunities" - https://www.reportlinker.com/p06169444/?utm_source=GNW
3% (from 2020 to 2025).Among end-user verticals, utilities and wastewater treatment and agricultural products and services are the 2 largest segments, with a revenue share of 16.2% and 15.1%, respectively, followed by manufacturing at 7.2% and electrical and electronic equipment at 6.8% in 2020. Stringent implementation of regulatory norms and growing end-user awareness about hazards in confined spaces will drive market growth.Fall protection is the largest product segment, accounting for 26.4% of market revenue share in 2020, followed by above-the-neck protection at 14.8% and gas detection at 10.4%. The increasing occurrence of accidents related to the collapse and engulfment of confined spaces will drive demand for fall protection PPE.Fall and respiratory PPE will represent the fastest-growing product segments until 2025, driven by demand from the utilities and wastewater treatment, agricultural product and services, manufacturing, and electrical and electronic equipment industries. Increases in hazardous and risky work environments will spur growth in these 2 product segments.Driven by high compliance rates and stringent regulatory norms, North America has the largest confined space PPE market, with almost 54.9% of revenue market share in 2020. The total revenue will increase from $129.2 million in 2020 to $152.2 million in 2025, with a CAGR of 3.3%.Draeger, 3M, Honeywell, MSA, and Pure Safety Group are the main market participants offering confined space safety solutions to end-user industries. The increasing preference for customized safety products and combined confined space PPE, such as helmets, protective clothing, and footwear, will drive the market.For the purpose of this study, the market has been divided by product into the following segments: fall protection; above-the-neck protection; gas detection; respiratory protection; and others, including foot protection, hand protection, protective clothing, and thermal imaging cameras.End-user industries include utilities and wastewater treatment, food and beverage processing, manufacturing, electrical and electronic equipment, agricultural products and services, and metal production and fabrication. Other industries include oil and gas (extraction and refining), transportation, and chemical and allied. The end-user industry forecast is not included in the research. The study period is 2017–2025.
Author: Anjan Kumar Roy
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