Stringent Government Regulations Regarding Safety at Work Places Is Primary Factor Fueling the Growth of the Fall Protection Equipment Market
Globally, the fall protection equipment market is expected to grow with a CAGR of 7.2% during the forecast period from 2021 to 2029, starting from US$ 1.88 Bn in 2020. The fall protection equipment market is growing at a significant pace based on various factors such as increasing awareness regarding industrial safety, growing demand of fall protection equipment for recreational activities, growing utilization of fall protection equipment in construction, industrial and utility sectors and stringent government regulations pertaining to safety in various industries. The use of fall protection equipment in these industrial sectors ensures safety and protection of amateurs and professional participants. Globally, as the construction sector is one of the largest employers of the workforce, it accounts for the majority of demand of fall protection equipment. Thus, rising concerns about overall safety, and growing fleet size of emergency service add to the growth of fall protection equipment market in the near future. However, increasing automation in end-use industries, presence of low quality and inexpensive products, and fragmentation and price competition due to presence of large number of companies is expected to restrain the growth of the market.
Full-body harness segment dominates the overall market for fall protection equipment
In 2020, the full-body harness segment led the market by contributing the maximum market share in the global fall protection equipment market and is expected to grow at a CAGR of ~10%. This high growth of the full-body harness segment is mainly attributed to the better support provided by these products in height rescue operations. Full-body outfits provide improved help and are considered be the most regularly utilized products as a part of save operations. Apart from this, full-body harness equipment, products such as chest saddle, body belts, suspension belts, full body bridle and security nets among others show a steady growth based on their adoption.
Asia Pacific to Register the Fastest Growth
North America dominates the fall protection equipment market followed by Europe during the forecast period. The factors such as increasing investment in residential and commercial real estate in the US, and government regulations regarding safety measures at work places are primary factors attributed to the high market share of North America. Furthermore, the residential construction sector in Europe has received a boost due to sustained economic growth, the improvement in employment level, and growing demand for residences from refugees and migrants. However, Asia Pacific is anticipated to witness the fastest growth over the forecast period. The high growth of this region can be attributed to factors such as rapid infrastructure development, increasing residential & commercial building construction activities in countries, such as India, Thailand, Indonesia, and China, and growing investments in various other industries.
Some of the prominent players operating in the fall protection equipment market include Honeywell International Inc., Uvex Safety Group, Simplified Safety, Guardian Fall Protection, Capital Safety, Eurosafe Solutions, ABS Safety, French Creek Production, Gravitec System, FallTech, DBI-SALA, 3M Fall Protection, Super Anchor, Karam Industries, MECHANICAL SAFETY EQUIPMENT, GF Protection Canada Inc., CORP, among others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.
Key questions answered in this report
- What was the market size of fall protection equipment in 2020 and forecast up to 2029?
- Which is the largest regional market for full-body harness segment?
- What are the major trends followed in fall protection equipment market across different regions?
- Who are the key fall protection equipment companies leading the market?
- What are the key strategies adopted by the leading fall protection equipment companies in market?
Unique data points of this report
- Statistics on fall protection equipment penetration and spending worldwide
- Recent trends across different regions in terms of adoption of fall protection equipment in various sector
- Notable developments going on in fall protection equipment industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Fall Protection Equipment (FPE) Market Analysis, by Type
Chapter 5 Global Fall Protection Equipment (FPE) Market Analysis, By End User
Chapter 6 North America Fall Protection Equipment (FPE) Market Analysis
Chapter 7 Europe Fall Protection Equipment (FPE) Market Analysis
Chapter 8 Asia Pacific Fall Protection Equipment (FPE) Market Analysis
Chapter 9 Rest of the World (RoW) Fall Protection Equipment (FPE) Market Analysis
Chapter 10 Company Profiles
Companies Mentioned
- Honeywell International Inc.
- Uvex Safety Group
- Simplified Safety
- Guardian Fall Protection
- Capital Safety
- Eurosafe Solutions
- ABS Safety
- French Creek Production
- Gravitec System
- FallTech
- DBI-SALA
- 3M Fall Protection
- Super Anchor
- Karam Industries
- MECHANICAL SAFETY EQUIPMENT
- GF Protection Canada Inc.
- CORP,
