Worldwide Fall Protection Equipment Market (2020 to 2025) - Increased Government Investments Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Fall Protection Equipment Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The fall protection market is likely to witness rapid growth on account of a high number of accidents and incidences in construction, oil & gas, mining, and transportation industries. The increase in construction output and the rise in the aging workforce are likely to be other significant factors boosting the adoption of fall protection equipment. Moreover, the growing investment in renewable energies, such as wind and solar, is expected to increase demand for high-end safety equipment for workers that inspect, install, and maintain extensive infrastructures such as windmills, machines, and panels.

Key Market Insights

• The analysis of the fall protection market provides sizing and growth opportunities for the period 2020-2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
  

The construction industry accounts for the highest accidents than in other sectors. The rise in the number of infrastructure projects across the globe, especially in the US, the UAE, and China, is expected to generate awareness and demand for fall protection equipment. In the US, fall accidents are growing at an alarming rate, thereby increasing stringency in regulations. The Occupational Safety and Health Administration (OSHA) and the American National Standards Institute (ANSI) work to promote voluntary safety standards at workplaces to ensure employee safety.

Government agencies and employee welfare organizations across several countries are making efforts to reduce the number of work-related accidents. Hence, the increase in campaigns and awareness programs will influence employers to install safety equipment, thereby increasing the growth of the fall protection market during the forecast period.

The following factors are likely to contribute to the growth of the fall protection market during the forecast period:

• Increasing Workplace Injuries
• Stringent Safety Regulations
• Growing Professional Cleaning Industry
• Increased Government Investments
• Growth of Adventure Sports
  

Insights by Vendors

The fall protection market is fragmented, with a limited number of global players earning significant revenue. The margin of success always lies in the intensity of the differentiation among the products. Factors such as price, warranty, training methods, feasible access to the trainers, and durability of the products are expected to play a vital role in highlighting the major vendors. In price-sensitive countries such as India, there is a threat from the new entrants that offer non-certified equipment at low prices.

Hence, global players are facing a significant challenge to establish a diverse market base in the country. Globally, the expansion through mergers and acquisitions is likely to be effective in the fall protection market. The vendors are expected to earn revenue through training, inspection, and services in underpenetrated regions of APAC, MEA, and Latin America.

Key Vendors

• 3M
• Honeywell
• MSA
• Petzl
• Pure Safety Group

Other Vendors

• SKYLOTEC GmbH
• Guardian Fall
• Kee Safety
• Werner
• FallTech
• Cofra
• FrenchCreek
• Safe Approach
• Swelock Asia
• Heightsafe
• Hi-Rise Access
• SafetyLink
• Malta Dynamics
• Buckingham Manufacturing
• Elk River
• Sellstrom
• Rigid Lifelines

Market Dynamics

Market Opportunities & Trends

• Increased Government Investments
• Growing Demand for Adventure Sports
  

Market Growth Enablers

• Increase in Workplace Injuries
• Stringent Safety Regulations
• Growth In Professional Cleaning Industry
  

Market Growth Restraints

• Lack of Skilled Labor
• Use of Substandard Products

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