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NEW YORK , March 16, 2022 /PRNewswire/ -- Protective Workwear Market Facts at a Glance-
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The Protective Workwear Market is expected to increase by USD 3.68 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.84%. as per the latest market forecast report by Technavio. 35% of the market's growth will originate from North America during the forecast period. The US is the key market for protective workwear market in North America . Market growth in this region will be faster than the growth of the market in MEA and Europe. Demand-side factors and regulatory requirements will facilitate the protective workwear market growth in North America over the forecast period.
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The protective workwear market share growth by the chemical segment will be significant for revenue generation. Chemicals are essential raw materials of most manufacturing industries. However, chemical processes pose significant health and safety risks given the mist generated, accidental spills, or splashes during the handling of chemicals. Workers, if exposed to leakages of chemicals, might sustain severe burning of body parts and mild to severe irritation. In some cases, leakage of chemicals might also lead to explosions. Thus, some chemical processes require chemical protective workwear to ensure the protection of industrial workers from accidental exposure. Such requirements are anticipated to drive the segment growth during the forecast period.
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The Protective Workwear Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
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Latest Drivers & Trends Driving the Market-
The strict implementation of workplace safety standards is one of the key drivers supporting the protective workwear market growth. For instance, workplace casualties in the US have fallen by nearly 65% since the passage of the OSH Act in 1970. The OSHAs routine workplace safety inspections have helped in consistently reducing incidences of workplace safety violations. This indicates organizations in the US are increasingly complying with workplace safety regulations, including fall protection. Moreover, OSHA has also raised the penalty for violation of workplace safety regulations by approximately 90% since 2015. These penalties were increased to keep the cost of violation significantly higher than the cost of compliance, with an aim to encourage organizations to comply with regulations in terms of machine safeguarding
The introduction of asset tracking and internet of things (IoT) features is a major trend supporting the protective workwear market growth. For instance, in November 2015 , Honeywell and Intel Corporation (Intel) demonstrated a prototype of the internet of things (IoT) wearable equipment designed for industrial workers and first responders. This connected wearable equipment is fitted with a microcontroller chip that collects data of the worker and surroundings. These data points are then displayed to the concerned manager or person in charge. This permits the maximum supervision of worker health conditions and helps organizations to avoid situations that can put worker safety at risk.
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Accelerate at a CAGR of 5.84%
Leading companies, competitive strategies, consumer engagement scope
3M Co., Alpha Pro Tech Ltd., Alsico Laucuba Ltd, Ansell Ltd., California Industrial Rubber Co, COFRA Srl, Dragerwerk AG and Co. KGaA, DuPont de Nemours Inc., Honeywell International Inc., International Enviroguard, Jayco Safety Products Pvt. Ltd., KARAM, Kimberly Clark Corp, Lakeland Industries Inc., SafetyQuip Australia Pty Ltd, Sioen Industries NV, Stanley Black and Decker Inc., UVEX WINTER HOLDING GmbH and Co. KG, W. L. Gore and Associates Inc., and Wearwell Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
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