Personal Protective Equipment Market Size, Share & Trends Analysis Report By Product (Respiratory Protection, Hand Protection), By End-use (Healthcare, Manufacturing), By Region, And Segment Forecasts, 2020 - 2027
New York, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Personal Protective Equipment Market Size, Share & Trends Analysis Report By Product, By End-use, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05982589/?utm_source=GNW
Personal Protective Equipment Market Growth & Trends
The global personal protective equipment market size is expected to reach USD 123.38 billion by 2027 registering a CAGR of 9.6%. Increasing focus on employee safety, coupled with favorable occupational safety regulations, is expected to drive the market growth over the forecast period. Rapid industrialization across the globe, particularly in developing regions, is projected to aid the penetration of personal protective equipment (PPE) in various end-use industries. Manufacturers have been investing in R&D initiatives to develop advanced products that adhere to the regulatory standards and have low external limitations.
Technological advancements, coupled with changing consumer trends, have led to a drastic change in manufacturing techniques to obtain superior-quality finished products.The industry has been witnessing a rising demand for high-performance & engineered multifunctional protective clothing.
Moreover, the COVID-19 pandemic is expected to have a positive impact on the market due to increasing demand for a wide range of PPE, such as gloves, masks, face shields, and coveralls, especially from the healthcare sector, to avoid the spread of the virus.
Personal Protective Equipment Market Report Highlights
• The hand protection product segment accounted for the maximum revenue share of over 28% in 2019 on account of increasing demand for gloves in the oil & gas, construction, and metal fabrication industries
• The PPE demand in the transportation end-use segment is anticipated to grow at a CAGR of 7.0% from 2020 to 2027 due to the growing awareness about the risks involved in activities including manual freight handling and climbing on heights, such as truck tops
• The PPE market in Europe accounted for the largest revenue share of more than 33% in 2019 and will expand further at a steady rate, due to stringent regulations, along with a rising number of occupational injuries and demand for high-utility protective equipment
• The market in India is likely to register a significant CAGR from 2020 to 2027 on account of growing concerns regarding high-risk activities in the construction and manufacturing industries
• Market participants focus on mergers & acquisitions to gain higher market share
• In September 2020, Avon Rubber plc signed an agreement to acquire Team Wendy, LLC, a U.S.-based supplier of helmet liners & helmets, and retention systems for first responder and military markets
Read the full report: https://www.reportlinker.com/p05982589/?utm_source=GNW
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