The Fall Protection Market is forecasted to grow from USD 2.14 billion in 2018 to USD 3.48 billion by 2026, at a CAGR of 6.1%, during the forecast period. Increasing demand for labour safety is the major driving factor of the market.
Rise in demand for fall protection equipment’s to drive market growth for recreational activities. One of the key drivers of the market for fall protection is the construction, industrial and utility sectors. Using fall protection equipment in these activities ensures that amateurs and professional participants are safe and protected.
The sale of low-cost and low-quality products accompanied by a lack of consumer awareness is likely to hamper the demand of the market. Furthermore, non-compliance by the industrial participants with different regulations and standards is the main restraining factors faced by the manufacturers for the industry. Regulatory bodies, however, require employers to provide each employee with a training program that may be exposed to falling hazards.
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The major players in the market are 3M Company (US), Honeywell International Inc. (US), MSA Safety Inc. (US), GF Protection Inc. (US), Skylotec GmbH (Germany), Kee Safety, Inc. (UK), Werner Co. (US), W.W. Grainger, Inc. (US), Total Access (UK), and FallTech (US).
Further key findings from the report suggest
- The Fall Protection Market is forecasted to grow from USD 2.14 billion in 2018 to USD 3.48 billion by 2026, at a CAGR of 6.1%, during the forecast period. Increasing demand for labour safety is the major driving factor of the market.
- The market for access system is estimated to grow at the highest CAGR of 8.3% during the forecast period. Due to the increase in demand for fall protective equipment used in confined spaces, the access system segment is projected to witness the highest growth during the forecast period. Access systems include products used in confined space and tripods in tanks, vessels, sewers, and other applications.
- Based on end-users, the market for construction segment is estimated to have the largest market share at USD 1.02 Billion in 2026, at a CAGR of 7.0%, during the forecast period. Mandatory regulations by governments of various countries around the globe, in regards to the use of equipment to lower the number of accidents during construction activities, are expected to drive the growth of this segment.
- APAC is estimated to reach USD 1.02 Billion in 2026, at a CAGR of 6.9% during the forecast period. China’s growth is driven by its large manufacturing and building sectors that create demand for both general and personal fall protection systems. The market in India is estimated to be the fastest growing in the APAC, due to factors such as large populations, a fast developing economy, particularly in the construction sector.
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Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Fall Protection market.
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, end-users, distribution and regional analysis.
Type (Revenue, USD Million; 2016-2026)
- Hard goods
- Soft goods
- Access system
- Rescue kit
End-Users (Revenue, USD Million; 2016-2026)
- Oil & gas
- General industry
Distribution (Revenue, USD Million; 2016-2026)
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Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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