Industrial Fall Protection Equipment Market | Top Key Players Analysis, Trends, Global Size Forecast To 2026
Selbyville, Delaware, United States, September 10 2020 (Wiredrelease) Global Market Insights, Inc –:Based on this, Global Market Insights, Inc., predicts that the industrial fall protection equipment market might cross USD 4.60 billion by the year 2026. The industrial fall protection equipment market is projected to foresee considerable growth owing to increasing imposition of safety norms and changing perspective towards workplace safety. Several countries have begun to introduce labor rights to ensure the safety of workforce.
According to the U.S. Bureau of Labor Statistics, in 2018, around 2.8 million nonfatal workplace injuries were reported by private industry employers. As a result, governments are encouraging the use of industrial fall protection equipment to minimize such accidents. These equipment aid in lowering insurance premiums, reducing worker’s compensation claims, cutting OSHA fines, and increasing productivity while boosting worker morale at the same time.
Surging renovation & construction activities coupled with increasing number of high-rise building construction projects could strengthen business outlook over the forthcoming years.
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Slated below are a few of the ongoing trends favoring industrial fall protection equipment market outlook:
Proliferating demand for rescue kits –
Enforcement of safety regulations and initiatives has boosted the demand for rescue kits. Estimates suggest that the segment could register a compound annual growth rate of more than 7% within the predicted timeframe. Construction and mining companies along with other labor-intensive businesses are heavily adopting these kits to minimize overall contingent costs.
Mounting demand across APAC –
Increasing presence of manufacturing industries coupled with imposition of stern labor laws could stimulate the demand for fall protection equipment in Asia Pacific. Forecasts claim that the regional market could register over 9% CAGR by the end of 2026. Strong focus on healthy workplace practices along with increasing imposition of strict regulations on workplace safety could stimulate the demand for high-quality equipment.
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Adoption of key business strategies –
Companies operating in the industrial fall protection equipment business are engaging in strategic partnerships and new product innovations to enhance their geographical presence and consumer base. Companies are also investing in strategic expansion plans like acquisitions and mergers to enhance their production capabilities.
In June 2020, MSA Safety Incorporated, a leading safety equipment company, revealed its plan to expand its Cranberry Township production facility to support future growth prospects.
In the wake of the current scenario, industry players are planning to ink long term agreements with suppliers in order to lower supplier power equilibrium while maintaining their position in the competitive industry landscape.
Currently, companies like Pure Safety Group (PSD), Honeywell Miller, 3M, Capital Safety, SKYLOTEC GmbH, French Creek Production, and GF Protection Canada are leading the industry landscape with their pioneering products.
Table of contents for this research [email protected] https://www.gminsights.com/toc/detail/fall-protection-market
Chapter 1 Methodology & Scope
1.2 Market definitions
1.3 Market estimation & forecast parameters
1.4 Data Sources
22.214.171.124 Paid Sources
126.96.36.199 Public Sources
Chapter 2 Executive Summary
2.1 Industrial fall protection equipment industry 3600 synopsis, 2015 – 2026
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Application trends
Chapter 3 Industrial Fall Protection Equipment Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2015 – 2026
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
188.8.131.52 Technology providers
3.4 Regulatory landscape
184.108.40.206 Occupational Safety and Health Administration (OSHA)
220.127.116.11.1 1910.28 – Duty to have fall protection and falling object protection
18.104.22.168.2 1926.760 – Fall protection
22.214.171.124 REGULATION (EU) 2016/425
3.4.3 Asia Pacific
126.96.36.199 WORKPLACE SAFETY AND HEALTH (WORK AT HEIGHTS) REGULATIONS 2013
3.5 Pricing analysis
3.5.1 Cost structure analysis
188.8.131.52 Machinery & Equipment Cost
184.108.40.206 Manufacturing cost
220.127.116.11 Other expenses
3.6 Industry impact forces
3.6.1 Growth drivers
18.104.22.168 North America
22.214.171.124.1 Increasing workplace injuries
126.96.36.199.2 Favorable regulations for occupational safety
188.8.131.52.1 Adoption of fall protection standards
184.108.40.206.2 Increasing fatalities rate and growing on-site training in various industries
220.127.116.11 Asia Pacific: Growth in the construction industry
3.6.2 Industry pitfalls & challenges
18.104.22.168 Sale of low quality and inexpensive products
3.7 Innovation & sustainability
3.8 Growth potential analysis, 2019
3.8.1 Emerging business model
22.214.171.124 Collaboration/Joint ventures
126.96.36.199 Product launch
3.9 Porter’s analysis
3.10 Competitive landscape, 2019
3.10.1 Company market share analysis, 2019
3.10.2 Strategy dashboard
3.11 PESTEL analysis
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