Fall Protection Equipment Global Market Report 2024

The global fall protection equipment market has grown strongly in recent years. It will grow from $3.12 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. Historical growth can be attributed to economic development, the implementation of risk management strategies, adherence to workplace safety regulations, the surge in industrialization and construction activities, and the ongoing urbanization accompanied by infrastructure projects.

The global fall protection equipment market is expected to see strong growth in the next few years. It will grow to $4.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period is fueled by expanding market opportunities, a focus on enhancing comfort and usability, a shift towards preventive measures, catering to industry-specific needs, and heightened concerns regarding environmental sustainability. Major trends expected during this period involve the digitization and automation of industries, the adoption of remote monitoring and management systems, a more worker-centric approach to operations, adherence to global health and safety standards, and the implementation of sustainable and eco-friendly solutions.

The anticipated rise in construction and renovation projects is expected to drive the growth of the fall protection equipment market. Construction, covering various activities from building to demolishing infrastructure, faces a significant number of accidents and fatalities. Fall protection systems are pivotal for worker safety, especially in this sector. The surge in construction and renovation activities has propelled the demand for fall protection equipment. For instance, as per the report by the UK's Office for National Statistics in February 2022, the annual construction sector saw a remarkable 12.7% increase in 2021 compared to the preceding year. December 2021 witnessed a 2.0% monthly climb in construction output, driven entirely by a surge in new work (3.5%). The quarterly production in the construction industry rose by 1.0% in Q4 2021 compared to Q3, propelled by both new work (1.1%) and repair/maintenance (0.8%). Therefore, the surge in construction and renovation activities is fueling the growth of the fall protection equipment market.

The expansion of the oil and gas industry is projected to propel the growth of the fall protection equipment market. This sector, encompassing various processes from extraction to transportation of petroleum and natural gas, necessitates robust fall protection equipment due to the inherent risks in its operations. Ensuring worker safety and complying with safety regulations are paramount in these environments. For instance, a report by the International Energy Agency in June 2023 predicts a 6% surge in global oil demand between 2022 and 2028, expected to reach 105.7 million barrels per day (mb/d). Hence, the expansion of the oil and gas industry drives the growth of the fall protection equipment market.

Leading companies in the fall protection equipment market are innovating with products like self-retracting lifelines (SRLs) to expand their customer base, boost sales, and augment revenue. SRLs are crucial safety devices in fall protection systems, preventing falls from heights. For instance, Guardian, a US-based height safety specialist, introduced an array of fall protection products in January 2023. This lineup includes a new customization station, SRLs, anchor additions, and the B7 comfort harness. Their online customization tool empowers customers to personalize full-body harnesses, incorporating company colors and logos for enhanced branding and safety. Guardian's SRLs exceed upcoming compliance standards with features like increased static and dynamic strength, thicker cables, and robust shock packs. Moreover, they've introduced new anchor products and a specially designed B7-Comfort Harness suitable for demanding conditions after extensive user research and trials.

Major companies in the fall protection equipment market are forging strategic partnerships to elevate safety standards in the United States. These collaborations aim to integrate advanced safety technologies into fall protection equipment, enhancing safety standards and reducing accident risks across industries. For example, Guardian, a US-based height safety specialist, partnered with Twiceme Technology, a safety tech company from Sweden, in March 2023. Through partnerships with industry leaders like Guardian in the construction sector, Twiceme is establishing itself as a benchmark for intelligent safety, mirroring its success in the sporting industry. These global alliances align with Twiceme's mission to establish a worldwide standard, facilitating quicker assistance for individuals in need.

In January 2022, Diversified Fall Protection (DFP), a renowned US-based company focused on designing, fabricating, and installing comprehensive fall protection solutions, successfully acquired Versatile Systems Inc. and Rooftop Anchor Inc. The financial details of these acquisitions were not disclosed. These strategic moves significantly bolstered DFP's position in the market while expanding the breadth of its services nationwide. Rooftop Anchor Inc., a leading US-based company, specializes in providing cutting-edge fall protection systems. Similarly, Versatile Systems Inc., also based in the US, is a prominent manufacturer of fall protection equipment. By integrating the capabilities and expertise of these acquired entities, DFP reinforces its commitment to offering a wider array of top-tier fall protection solutions, strengthening its market presence, and enhancing safety measures across various industries.

Major companies operating in the fall protection equipment market report are MSA Safety Company, Honeywell International Inc., 3M Company, Pure Safety Group (PSD), Gf Protection Canada Inc., SKYLOTEC GmbH, Guardian Industries, FallTech, Frenchcreek Production Inc., ABS Safety GmbH, Werner Co., Karam Industries, Eurosafe Solutions, Capital Safety, Carl Stahl GmbH, Kee Safety Inc., Alpha Pro Tech Ltd., Bergman & Beving AB, UltraSafe, Gravitec System., Hi-Rise Access, Sellstrom Manufacturing Company, ELK River Inc., Cofra S.R.L, P&P Safety Ltd., Swelock Asia Co. Ltd., Safetylink Pty Ltd., Safe Approach Inc., W.W. Grainger Inc., Malta Dynamics LLC, Petzel Group, Buckingham Manufacturing Co Inc., Rigid Lifelines Inc., and Frontline Fall Protection.

Asia-Pacific was the largest region in the fall protection equipment market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fall protection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fall protection equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of fall protection equipment include soft goods, hard goods, rescue kits, body belts, full-body harnesses, and other specialized types. Soft goods refer to non-durable tangible items crafted from textiles, serving the purpose of ensuring safety and fall protection for individuals. These may include various equipment like harnesses, lifelines, slings, among others. Associated products include anchors, connectors, bodywear, devices, and other related safety gear. The utilization of this equipment spans across industries such as construction, telecommunications, energy and utilities, transportation, mining, marine operations, and other sectors where working at heights poses risks.

This report provides fall protection equipment market statistics, including fall protection equipment industry global market size, regional shares, competitors with a fall protection equipment market share, detailed fall protection equipment market segments, market trends and opportunities, and any further data you may need to thrive in the fall protection equipment industry. This fall protection equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fall protection market consists of sales of equipment that is used when working at heights, but it may also be necessary when working close to an edge or on a slope, such as next to a pit or hole. It includes personal protective equipment such as a body harness, anchorage, and connector as well as physical protection equipment such as guardrails, screens, barricades, and other similar equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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