DUBLIN--(BUSINESS WIRE)--The "Fall Protection Equipment Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global fall protection equipment market was valued at US$2.277 billion in 2019.
The booming infrastructural development around the globe, especially in the developing economies such as India, China and Indonesia, is one of the major drivers for the market to surge over the forecast period. The growing concerns over worker safety coupled with stringent government regulations of various countries regarding the safety of workers working on heights across the various end-user industries is also propelling the demand for safety equipment thus also increasing the demand for fall protection equipment over the coming years.
The booming construction sector in major countries across the globe due to improving economic conditions and government initiatives towards infrastructural development is also projected to bolster the market growth in the coming years. The burgeoning requirements for workers safety from various injuries and deaths is also leading to an increased demand for these type of equipment by the companies under which these people work. In addition, the government regulations in the North American and European regions also mandate the use of fall protection equipment across the various industries is also bolstering the market growth in the next five years.
Booming construction sector across the globe
The rising investments in construction activities by both private and government sectors are expected to be one of the key drivers resulting in an increase in the demand for fall protection equipment worldwide. In addition, rapid urbanization in budding economies like India and China is further amplifying the demand for construction machinery in the coming years. Furthermore, the Make in India project launched by the government of India has identified 99 cities which will be converted into smart cities. Growing travel and tourism industry around the globe increases the government initiative towards the development of the hospitality sector through the construction of hotels and restaurants is further expected to widen up growth opportunities in the coming years.
Construction industry to hold a noteworthy share
On the basis of the end-user industry, the global fall protection equipment market has been segmented on the basis of construction, oil and gas, mining, energy and utilities and others. The growing population is expected to be one of the driving factors to push the demand for the residential segment as more housing units are required to meet the housing needs for the growing population. According to the World Bank, the total global population has grown from 6.903 billion from 2010 to 7.53 billion in 2017(Source: The World Bank Group).
The construction sector is anticipated to hold a noteworthy share in the market due to the fact that the workers are required to work at high elevated places. This, in turn, makes their safety of utmost importance as their life is at risk. Thus, there is high adoption of this protection equipment in the construction industry which is supporting the significant share of this segment. In addition, the growth in construction activities around the globe is also supplementing the market growth of fall protection equipment during the forecast period and beyond. Rapid urbanization and rising disposable income are also some of the key factors which is supplementing as urbanization is leading to an increase in residential construction in some countries. For instance, in India, the number of construction of new residential houses increased from 1, 25,551 units in 2015-16 to 1, 82,861 units in 2018-19 (Source: Ministry of Housing and Government Affairs).
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Fall Protection Equipment Market Analysis, By Product
5.2. Anchorage Connectors
5.3. Fall Protection Kits
5.5. Harness, Belts, and Accessories
6. Global Fall Protection Equipment Market Analysis, By End-User Industry
6.3. Oil and Gas
6.5. Energy and Utilities
7. Global Fall Protection Equipment Market Analysis, By Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. Honeywell International Inc.
9.4. Kee Safety, Inc.
9.5. Bergman & Beving AB
9.6. Carl Stahl GmbH
9.8. GF Protection Inc.
9.9. SKYLOTEC GmbH
For more information about this report visit https://www.researchandmarkets.com/r/gmlxmg