Personal Protective Equipment Market worth $69.4 billion by 2028, at a CAGR of 5.1 %, says MarketsandMarketsâ„¢
Chicago, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Personal Protective Equipment Market is projected to grow from USD 54.0 billion in 2023 and is projected to reach USD 69.4 billion by 2028, at a CAGR of 5.1 %, between 2023 and 2028 period, as per the recent study by MarketsandMarkets™. The growing demand for personal protective equipment due to the industrial growth and infrastructure development driving the market. Additionally, the increasing manufacturing sector is expected to grow in the personal protective equipment market during the forecast period.
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List of Key Players in Personal Protective Equipment Market :
- Honeywell International Inc. (US)
- DuPont de Nemours, Inc. (US),
- 3M Company (US)
- Ansell Limited (Australia)
- Kimberly-Clark Corporation (US)
- Lakeland Industries, Inc. (US)
- Alpha Pro Tech, Ltd. (Canada)
- Sioen Industries NV (Belgium)
- Radians Inc. (US)
- MSA Safety Inc. (US)
Drivers, Opportunities and Challenges in Personal Protective Equipment Market:
- Drivers: Rising awareness about importance of workplace safety
- Restraint: Increased automation in end-use industries
- Opportunity: Growing healthcare industry in emerging economies
- Challenge: Increased comfort along with functionality
Key Findings of the Study:
- Hand & Arm Protection was the largest type for personal protective equipment market in 2022 in terms of value.
- The manufacturing segment is estimated to be the largest end-use industry in the personal protective equipment market in 2022, in terms of value.
- North America was the largest region for the personal protective equipment market in 2022, in terms of value
Based on type, the personal protective equipment market is segmented as hand & arm protection, protective clothing, foot & leg protection, respiratory protection, eye & face protection, head protection, and others. Hand & arm protection stands out as the largest segment in terms of value, globally. This dominance is attributed to the rising demand for hand & arm protection, particularly in healthcare, manufacturing, and construction applications. Hand & arm protection equipment includes disposable gloves, reusable gloves, and others (wrist cuffs & armlet, elbow protectors, mitts, barrier creams). On the other hand, the protective clothing, foot & leg protection, respiratory protection, eye & face protection, head protection, and others segment is also experiencing rapid growth.
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Based on end-use industry, the personal protective equipment industry has been categorized into various segments, including healthcare, manufacturing, construction, oil & gas, food, transportation, firefighting, and others. The others segment is sub-segmented into law enforcement, utilities, mining, military, and sports. Notably, the manufacturing segment emerged as the market leader in 2022 and is anticipated to maintain its dominant position through 2028. Furthermore, the healthcare segment is forecasted to exhibit the highest CAGR in terms of value between 2023 and 2028. This remarkable growth and increase in demand in both the sectors are due to the presence of occupational hazards. In manufacturing, workers may encounter machinery, chemicals, and other physical risks, while healthcare professionals often deal with infectious diseases and biohazards. Personal protective equipment (PPE) is essential to mitigate these risks and protect employees.
Based on region, Asia Pacific stands out as the fastest growing market for personal protective equipment. This is primarily attributed to protecting the employees in key industries such as healthcare, manufacturing, construction, oil & gas, food, transportation, firefighting, and others. On the other hand, the rising demand observed in emerging economies like China, India, and Japan also plays a crucial role.
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Industrial growth and developing infrastructure have generated a substantial demand for personal protective equipment, thereby boosting the growth of the personal protective equipment market in the Asia Pacific region.
The key players in this market are Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), 3M Company (US), Ansell Limited (Australia), Kimberly-Clark Corporation (US), Lakeland Industries, Inc. (US), Alpha Pro Tech, Ltd. (Canada), Sioen Industries NV (Belgium), Radians Inc. (US), and MSA Safety Inc. (US). They have implemented strategies such as new product launch, acquisition, and collaboration to enhance their competitors.
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