The global fall protection market is projected to grow at a CAGR of 8.1% from 2017 to 2022
The global fall protection market is projected to reach USD 2.69 billion by 2022, at a CAGR of 8.1% from 2017 to 2022. Increasing awareness regarding industrial safety and stringent government regulations pertaining to the safety of people working in the construction industry are the key factors expected to fuel the growth of the fall protection market during the forecast period. However, increasing automation in end-use industries may restrain the sales of fall protection equipment in the coming years.
The soft goods segment is the largest type segment of the global fall protection market
Based on type, the soft goods segment is estimated to be the largest segment of the market in 2017, owing to the increased demand for comfort, safety, ease of work at heights provided by soft goods. Soft goods are an essential fall protection equipment, which is used with all other types of fall protective equipment, such as installed system, access system, and rescue kit.
Construction is the largest end-use industry segment of the global fall protection market
Based on end-use industry, the construction segment is projected to lead the market between 2017 and 2022. The high demand for fall protection equipment in the construction industry is expected to drive the market for fall protection equipment. Fall protection equipment is widely used in the construction industry to provide protection in areas, such as building structure, construction sites, scaffolds, and stairs among others.
North America expected to be the largest fall protection market during the forecast period
North American is expected to lead the global fall protection market between 2017 and 2022. The US is the key producer and consumer of fall protection equipment in North America. Mandates by governments of countries in the region to follow the PPE standards at workplaces are expected to drive the demand for fall protection equipment in North America.
Breakdown of profiles of primary interviews for the report
• By Company Type: Tier 1 – 45%, Tier 2 –22%, and Tier 3 – 33%
• By Designation: C Level – 50%, Director Level – 10%, and Others – 40%
• By Region: Europe – 29%, North America – 21%, Asia Pacific – 29%, Middle East & Africa- 14%, South America- 7%
Some of the key companies profiled in this report are 3M Company (US), Honeywell International Inc. (US), MSA Safety Inc. (US), Werner Co. (US), GF Protection Inc. (US), SKYLOTEC GmbH (Germany), W.W. Grainger, Inc. (US), Total Access (UK) Ltd. (UK), Kee Safety, Inc. (UK), and FallTech (US).
The global fall protection market has been segmented on the basis of type, end-use industry, and region. Based on type, the market has been segmented into soft goods, hard goods, installed system, access system, rescue kit, and services. Based on end-use industry, the market has been segmented into construction, general industry, oil & gas, energy & utilities, telecom, transportation, mining, and others. Based on region, the market has been segmented into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
• Market segmentation based on type, end-use industry, and region
• Market dynamics including drivers, restraints, opportunities, and challenges
• Porter’s Five Forces Analysis
• Profile of key players in the global fall protection market