LONDON--(BUSINESS WIRE)--The fall protection equipment market size is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing demand for fall protection equipment from the construction industry is one of the major drivers of the fall protection equipment market growth. Construction sites usually require workers to operate at elevated platforms such as scaffolding, aerial work platforms (AWP), hoist elevator, and ladder. Many a times, construction workers also have to operate close to the edge of excavated areas, elevated walkways, steep roof, wall opening, and working surfaces with cutouts. They are hence, susceptible to accidents by fall. With the global construction sector being one of the largest employers of the global workforce, it accounts for a majority of the demand for fall protection equipment.
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As per Technavio, the increasing demand for fall protection equipment for recreational activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Fall Protection Equipment Market: Increasing Demand for Fall Protection Equipment for Recreational Activities
Construction, industrial, and utility sectors are among the major drivers of the global fall protection equipment market. However, there exists a small but rapidly growing fall protection equipment market for recreational activities such as rock climbing, zip lining, and bungee jumping and professional sports such as ice climbing and mountaineering. The use of fall protection equipment during such activities ensure the safety of amateur and professional participants. With the growing popularity of professional and adventurous sports, especially in developed countries, the demand for personal protective equipment, including fall protection equipment is expected to increase.
“Other factors such as the increase in M&A activities, and the introduction of IoT and asset tracking features will have a significant impact on the growth of the fall protection equipment market value during the forecast period,” says a senior analyst at Technavio.
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Fall Protection Equipment Market: Segmentation Analysis
This market research report segments the fall protection equipment market by product (anchors and connectors, bodywear, devices, others) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018, followed by EMEA and APAC respectively. The growth of the fall protection equipment market share in the Americas can be attributed to factors such as the high adoption of these equipment in the construction and the industrial sectors, and ongoing projects in the oil and gas sector in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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