PPE market to reach $62 billion by 2022, says report

According to "Personal Protective Equipment (PPE) Market Analysis by Product, by End-Use, and Segment Forecasts To 2022," a report offered by Dublin-based Research and Markets, the global PPE market, valued at nearly $36 billion in 2014, is expected to reach more than $62 billion by 2022, growing at a CAGR of 7.2 percent from 2015 to 2022.

Increasing awareness of employee health and safety, coupled with rising industrial fatalities in emerging economies caused by lack of protective gear, is expected to drive market growth over the forecast period. Technological innovation, along with changing consumer desire for protective equipment that combines safety with fashion and attractiveness, is further estimated to augment market expansion.

Hand protection was the leading product segment and accounted for 22.6 percent of total market revenue in 2014. Rising numbers of hand cuts, arm injuries, and abrasions in the workplace are expected to fuel market demand over the forecast period. Fall protection was the fastest-growing product segment at an estimated CAGR of 7.7 percent.

Increasing occupational fatalities and growing protective clothing requirements in such industries as oil and gas, refining, metal manufacturing, and automotive are expected to augment market growth of the protective clothing segment over the forecast period.

Manufacturing was the most dominant end-use industry for PPE, accounting for 20.5 percent of total market revenue in 2014. Rapid industrialization in emerging economies of Asia Pacific and Middle East is expected to drive this segment over the forecast period. Construction is anticipated to be one of the fastest-growing end-use industries.

North America emerged as the leading regional market, accounting for 41.2 percent of total revenue in 2014. Asia Pacific is expected to witness the highest growth: 7.9 percent from 2015 to 2022.

Growing manufacturing and construction industries, particularly in China, India, and Indonesia, are expected to fuel the region’s demand over the next seven years.

For more information, visit www.researchandmarkets.com/research/5tvcdb/personal.