The Global Fall Protection Market was US$ 3.3 Billion in 2023 and is likely to grow at a healthy CAGR of 5.6% in the long run to reach US$ 4.9 Billion in 2030.
Growing regulatory standards and an increase in the demand for workplace safety products prioritize soft goods for fall protection due to their effectiveness in reducing impact forces and minimizing injury risks.
The construction industry is expected to remain the biggest demand generator for fall protection in the years to come. The expected rise in construction activities paired with the increased use of fall protection equipment is primarily driving the market demand.
The dominance of the construction industry is ultimately the cause for the Asia-Pacific to be the largest market for fall protection. Also, China is the largest turbine installer.
Market Drivers:
- Increasing Construction Spending: With the growing demand for residential and commercial buildings, the construction sector is booming; hence, it will be driving the need for fall protection equipment
- Increase in Offshore Oil Rig Operations: There’s a substantial increase in the rig count in the offshore oil & gas but at the same time the workers face safety risks without proper safety procedures and equipment in place, therefore, ongoing fall prevention efforts are essential for safety in the oil & gas industry
- Growing Wind Turbine Installations: There has been a noticeable growth in wind energy installations in the past few years across all regions, leading to an increased demand for fall protection equipment as workers are required to operate at elevated heights
Challenges:
- Regular maintenance and inspection of fall protection equipment
- Training and Awareness
- Improving the comfort and mobility of safety gear without sacrificing protection
Recent Market JVs and Acquisitions
A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:- In March 2022, Delta Plus Group acquired Safety Link. It will provide the Group with a new platform of growth in the Asia-Pacific core markets of Australia, New Zealand, and Southeast.
- In January 2021, Delta Plus Group solidified its leadership in the French safety market for fall prevention infrastructure with the acquisition of Alsolu.
- Recent Product Development:
- In 2024, Werner introduces a new fall protection utility lifeline designed for utility workers and linemen, providing enhanced climbing security and safety.
- In 2023, Petzl launched ASAP and ASAP LOCK kits that come pre-installed with a mobile fall arrester, energy absorber, and connectors.
Soft goods are expected to remain dominant whereas access systems will be the fastest-growing in the market during the forecast period
The Fall protection market is segmented into soft goods, hard goods, installed systems, access systems, rescue kits, others, and services.Growing regulatory standards and an increase in the demand for workplace safety products prioritize soft goods for fall protection due to their effectiveness in reducing impact forces and minimizing injury risks.
The construction industry is expected to remain the dominant in the market during the forecast period
The market is segmented into construction, manufacturing, oil & gas, utility, telecom, and others [wind energy, transportation, and mining].The construction industry is expected to remain the biggest demand generator for fall protection in the years to come. The expected rise in construction activities paired with the increased use of fall protection equipment is primarily driving the market demand.
Asia-Pacific is expected to remain the largest as well as the fastest-growing market for fall protection during the forecast period
In terms of regions, the market is segmented in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.The dominance of the construction industry is ultimately the cause for the Asia-Pacific to be the largest market for fall protection. Also, China is the largest turbine installer.
Key Players
The market is moderately concentrated with the presence of over 50 players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the fall protection market:- 3M Company
- Honeywell International Inc.
- MSA Safety Inc.
- Skylotec GmbH
- Guardian Fall Protection Inc.
- Kee Safety, Inc.
- Delta Plus Group
- Gravitec System, Inc.
- The Petzl Group
- WernerCo.
Table of Contents
1. Executive Summary: A Bird’s Eye View of the Market
2. Market Environment Analysis: Study of Factors Affecting the Market Dynamics
3. Fall protection market Assessment (2017-2028) (US$ Million)
4. Fall protection market Segments’ Analysis (2017-2028) (US$ Million)
5. Competitive Analysis
6. Strategic Growth Opportunities
7. Company Profiles of Key Players (Alphabetically Arranged)
8. Appendix
Companies Mentioned
- 3M Company
- Delta Plus Group
- Gravitec System, Inc.
- Guardian Fall Protection Inc.
- Honeywell International Inc.
- Kee Safety, Inc.
- MSA Safety Inc.
- Skylotec GmbH
- The Petzl Group
- WernerCo.
Methodology
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