by Personal protective equipment provides protection to various body parts such as eyes, face, head, hands, foot and skin that are prone to injuries or infections while operating in hazardous working conditions. Growing adoption of safety standards by regulatory authorities have compelled industries to mandate the use of protective equipment for eyes, face, hands and body as a necessary precaution. The global personal protective equipment market comprises of equipment such as fall protection equipment, respirators, hand protection equipment, protective clothing, protective footwear, head protection and others.
The need for personal protective equipment has gained immense traction, especially in the construction and manufacturing industries where employees are exposed to occupational hazards. According to the Bureau of Labor Statistics, falls, slips and trips were responsible for injuries to more than 345,000 construction workers in 2018. Similarly, in manufacturing industries, workers face bodily and chemical hazards involved in various industrial processes involving welding, grinding, material handling and others. Stringent regulations have made the use of protective equipment mandatory at construction sites and manufacturing plants to ensure workers safety.
The global Personal Protective Equipment Market is estimated to be valued at US$ 132.68 billion in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the personal protective equipment market is the growing demand for lightweight and comfortable safety gear. Traditional protective equipment have been bulky and restrictive in movement which reduces productivity and results in less compliance. Manufacturers are increasingly focusing on developing ergonomic designs, breathable materials and innovative technologies to develop lightweight protective equipment that provides equal or better protection but higher comfort. For instance, 3M launched lightweight N95 respirators with adjustable nose clip and braided headbands for enhanced comfort. Such innovations are expected to drive greater adoption of protective gear across industries.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the personal protective equipment market is moderate. Establishing a manufacturing facility and distribution channel requires significant investment which acts as a deterrent. However, production technologies have become more accessible.
Bargaining power of buyers: The bargaining power of buyers in the personal protective equipment market is high. The market has several established buyers who procure in bulk and demand competitive pricing and customized products. This enables buyers to negotiate on price and influence competition among existing players.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While raw material providers have established themselves, suppliers still lack pricing power and depend highly on equipment manufacturers. However, industry barriers maintain suppliers bargaining power to a certain extent.
Threat of new substitutes: The threat of substitutes is low in the personal protective equipment market. Alternatives are limited and switching costs for buyers are high once equipment is inducted. Safety standards leave limited scope for substitutes.
Competitive rivalry: The competitive rivalry is high with the presence of several global and regional manufacturers. Players compete based on product quality, design, brand image, innovation and pricing.
Key Takeaways
The global Personal Protective Equipment Market Share is expected to witness high growth over the forecast period supported by stringent regulatory standards and increasing safety awareness. The global Personal Protective Equipment Market is estimated to be valued at US$ 132.68 billion in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.
Asia Pacific currently dominates the market and is expected to retain its position through 2030 backed by extensive manufacturing capabilities and rapid industrialization in major economies. Asia Pacific is projected to increase its market share further on account of rising safety standards and expanding manufacturing sector in the region. North America and Europe are other major markets for personal protective equipment.
Key players operating in the personal protective equipment market are 3M, Honeywell, MSA Safety, Ansell, Kimberly-Clark and Lakeland Industries. Companies are investing aggressively in research & development to introduce improved and innovative products. New product development and strategic collaborations remain key focus areas for market leaders to strengthen market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
