The global above-the-waist PPE market garnered a market value of USD 28 Billion in 2022 and is expected to accumulate a market value of USD 50 Billion by registering a CAGR of 5.9% in the forecast period 2022 to 2032. The market is anticipated to amplify at a healthy pace, attributable to increased company awareness of workplace worker safety, as well as escalating government efforts.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2022) | USD 28 Billion |
| Anticipated Forecast Value (2032) | USD 50 Billion |
| Projected Growth Rate (2022 to 2032) | 5.9% CAGR |
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The global demand for above-the-waist PPE is projected to increase at a CAGR of 5.9% during the forecast period between 2022 and 2032, reaching a total of USD 50 Billion in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 4%.
Helmets, bump caps, glasses, goggles, face shields, welding shields, earmuffs, earplugs, and other devices are examples of above-the-waist PPE. These items protect workers working in potentially dangerous areas. Rapid Research and Development in the pharmaceutical business have fuelled product demand in recent years.
Furthermore, the global expansion of the industrial sector, as well as the rising oil and gas industry, are likely to complement market growth throughout the forecast period. During the COVID-19 pandemic, the sector saw a significant increase in product demand owing to the expansion of the healthcare business with ongoing research and development, as well as clinical testing to control the virus's spread.
Furthermore, prominent market players have been focused on product innovation and effective tactics in order to retain a strong market position. For example, in June 2022, MSA Safety, a maker of safety equipment, launched its new product range of firefighter protection apparel created exclusively for European consumers, delivering more safety and comfort.
Growing Demand from the End-Use Industries to Boost Market Growth
Above-the-waist PPE is worn to reduce exposure to dangers that can lead to significant industrial injuries and illnesses. These diseases and injuries may be caused by exposure to radioactive, chemical, physical, mechanical, electrical, or other job dangers. PPE comprises safety eyewear, safety shoes or footwear, earplugs or muffs, safety helmets, hard hats, protective garments, respirators, coveralls, vests, and full bodysuits. It is widely employed in a variety of sectors, including construction, chemical, mining, transportation, culinary, and healthcare.
Above-the-waist PPE is used to protect employees' heads, hands, eyes, faces, hearing, and breathing. It is beneficial in decreasing workers' exposure to workplace dangers and deaths, hence reducing the number of accidents and injuries. Furthermore, businesses' proclivity to provide a safe working environment for their employees should drive up demand for the product.
Because of the increasing use of complex machinery that requires human intervention on a large scale, the chances and frequency of workplace hazards are increasing in various industries such as construction, manufacturing, and oil & gas, posing a threat of physical injuries to workers. As a result, the increasing workplace complications should accelerate the above the waist PPE market share.
No Protection against Hot Liquids to Restrain Market Growth
While above the way PPE protects employees from a variety of threats, it does have certain limits. They do not shield the eyes or face from chemical spills. The Splash goggles do not protect against solid material impact. Blood-borne diseases and combustible chemicals are not protected by lab coats. They are not designed to protect against molten metal spills, hot liquids, steam, or continuous thermal loads.
Rapidly Expanding Domestic Building Industry Widening Profit Margins
In terms of region, the Asia Pacific above-the-waist PPE market led the market in 2021 and is expected to grow significantly throughout the assessment period. The region's market growth is being aided by the rapidly expanding domestic building industry. The increase in building activities due to higher population living standards, as well as increased instances of accidents in the pharmaceutical and transportation industries are expected to drive market expansion in the APAC region.
Increasing the Number of Chemical Production Units in the Region Could Boost Market Penetration
The North American above-the-waist PPE market is expected to grow expeditiously, owing to an increase in worker injuries caused by inhalation of poisonous gases and vapors, dust or fumes, and direct contact with hazardous substances. The increasing number of chemical production units in the region could boost market penetration. The government's rising proclivity to design rules pertaining to employee safety at work should promote product demand in the region.
The severe penalties for failing to comply with the established criteria for personal protective equipment should compel companies to supply workers with high-quality protection equipment to ensure maximum safety.
Additionally, in order to reduce the compensation costs connected with fatal workplace accidents, businesses should provide their employees with personal protective equipment in an effort to reduce the potential risks. Furthermore, the growing industrial industry in Canada should support the expansion of the above-the-waist PPE market.
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The Retail Channel Segment to have the Most Demand
The retail channel sector is expected to surge at a significant CAGR during the forecast period. The retail channel comprises selling the goods to customers directly. This channel entails acquiring things in bulk from distributors, wholesalers, and suppliers and then distributing them in small amounts to end customers.
Along with offline stores, the expanding online business activities are anticipated to push manufacturing enterprises to collaborate with online retail platforms in order to strengthen their online presence. The growing popularity of internet shopping should encourage merchants to sell their items online. Partnerships and collaboration with distributors and retailers, for example, should boost the market for above-the-waist PPE in the future.
The Construction Sector to Gain the Most Traction
By 2032, the construction sector is expected to spur at a stellar rate. Increased investment in infrastructure and building projects could open up new opportunities for the global economy. The high fatality rate caused by falls from heavy building materials such as bricks and tools should increase the need for and demand for protective equipment to protect workers' well-being.
With rising urbanization and the growth of commercial and residential structures, the market for above-the-waist PPE is expected to grow at a healthy rate. The widespread use of electricity-related activities in the construction sector can offer hazards in the form of shocks, fire, and arc flash. The use of personal protective equipment such as insulating rubber gloves to avoid such mishaps is anticipated to rise. Furthermore, the movement of equipment and heavy materials on the building site might result in a slew of minor accidents, which should drive the above-the-waist PPE market even further.
Key start-up players in the above the waist PPE are from offering new and innovative product lines to consolidating their market presence, these aforementioned start-ups have left no stone unturned. Some specific instances of key Above the Waist PPE start-ups are as follows:
Companies are largely pursuing business strategies such as mergers, expansion of manufacturing capacity, and the launch of new products in order to expand their operations. Key players in the above the waist PPE market are Safety Products, Inc., 3M, Drager, Radians, SureWerx USA, Inc, Honeywell International, Inc., Hellberg Safety, Kimberly-Clark Corporation, MSA Company, Protective Industrial Products, ERB Industries, Inc.
Recent Developments:
FMI projects the global Above the Waist PPE market to expand at a 5.9% value CAGR by 2032
The global Above the Waist PPE market is estimated at a market value of USD 28 Billion
The global Above Waist PPE market is expected to garner a market value of USD 50 Billion
Asia Pacific is expected to be the most lucrative for Above the Waist PPE market growth.
Safety Products, Inc., 3M, Drager, Radians, SureWerx USA, Inc, Honeywell International, Inc., Hellberg Safety, Kimberly-Clark Corporation, MSA Company, Protective Industrial Products, ERB Industries, Inc., are some prominent Above the Waist PPE manufacturers
North America is expected to grow significantly during the forecast period.
Europe is expected to grow at a moderate pace during the forecast period.
The construction sector is expected to lead the market for Above the Waist PPE in the forecast period 2022 to 2032.
| Market Estimated Size in 2024 | USD 40,378.9 million |
|---|---|
| Projected Market Value in 2034 | USD 69,169.3 million |
| Value-based CAGR from 2024 to 2034 | 5.5% |
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