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Allied Market Research

Industrial Fall Protection Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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COVID-19

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Fall protection equipment is a type of protective equipment that is important for worker safety while they are working at heights. Guard rails, lifelines, safety nets, safety lanyards, deadweight anchors, tripods, full body harness, chest harness, safety nets, body belts, hard helmets, anti-slip shoes, gloves, and suspension belts are some examples of different fall protection equipment. Fall protection equipment is extremely important for worker safety in various end use industries such as the global construction, transportation, mining, oil & gas, energy, utility, manufacturing and telecom among others. Fall protection equipment not only protects the worker from risk of serious injuries and life-threatening accidents but can also reduce the compensation fees and the insurance premiums that are paid by companies. The adoption of protective equipment also increases productivity and boosts worker confidence & morale as the worker is less worried and can work more freely. Ergonomics is increasingly being employed in the design of fall protection equipment as equipment that restricts the free movement of workers while making repetitive actions or equipment that does not handle the impact of sudden forces or jerk movements may lead to stress related injuries. For example, full body harnesses are preferred to waist belts as the former allows better support for prolonged suspension, distributes the impact of forces better and thus chances of serious injury are lowered while operational comfort is increased for the worker. Full body harnesses are also more preferred for rescue operations. Several occupational health and safety (OHS) bodies around the world require strict compliance to worker’s safety norms and preventive measures. Companies who fail to meet these regulations may have to pay large fines or may have their operational licences rescinded as improper or inadequate safety equipment may lead to death or serious injury of workers.

­Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD Millions)

  Segments covered

  Type, Product, Industry Verticals and Region.

  Regions covered

North America (US, Mexico, and Canada), Europe (Germany, UK, Netherlands, Italy, and France), Asia-Pacific (China, Japan, South Korea, Sri Lanka, and India), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

The key players in the industrial fall protection equipment market include MSA Safety Company, Honeywell Miller, 3M, Capital Safety, UltraSafe USA, GF Protection Canada, French Creek Production, Karam Industries, ABS Safety and Guardian Industries among others.

 

COVID-19 scenario analysis:

  • COVID-19 pandemic has shut-down production of various products in the global industrial fall protection industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the global industrial fall protection market significantly from past few months, as is likely to continue during 2020.
  • COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year.
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Ita
  • ly, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints, and Impact Analysis

Fall protection equipment is important for the safety of workers while working at risky heights. Industrial fall protection equipment is essential to reduce the risk of fatal or severe injuries to workers on duty in the event of accidents. The global energy and utility, telecom, mining, construction industries are some of the major end users of fall protection equipment around the world. Fall protection equipment such as hard helmets, full body harness, chest harness, anti-slip shoes, gloves, body belts, suspension belts, fall arrest systems, safety nets are growing in adoption in various applications where risky heights are involved.

Manufacturers are also adding features such as shock resistance and fire resistance for specific end use applications where these features are important. Stringent occupational health and safety regulations are being imposed by governmental bodies around the world to improve the safety of workers. This is anticipated to be a major driving factor behind the growth of industrial fall protection equipment market over the forecast period. In most countries around the world, companies of any industry have a responsibility as per common law to take care of the safety of their employees. Additional laws are also being introduced to improve workplace safety by instituting separate regulatory bodies by various governments around the world.  Availability of counterfeit, low quality and inexpensive products in the market especially in developing countries is a major restraining factor for the growth of industrial fall protection equipment market. Lack of awareness and education in developing countries leading to non-compliance with safety standards and regulations is a restraint as well. However, the growth of the global construction industry worldwide and increasing construction activity in major infrastructure development projects around the world is expected to present the growth opportunities for the global industrial fall protection equipment market in the future.

The global industrial fall protection equipment market trends are as follows:

Growth of commercial and residential construction and public infrastructure projects worldwide

Growth in population, urbanization, and increase in construction activities around the world, the global industrial fall protection equipment market is expected to expand. The number of shops, shopping malls, restaurants, other public establishments, industrial plants and commercial office spaces, are growing globally as global population and urbanization increases. Schools, hospitals and other public facilities are being built, expanded or updated. Growing number of nuclear families is also causing growth of the global residential construction market. Private real estate development and individual residential construction projects are also growing as global population and urbanization increases. Hard helmets, full body harness, protective shoes and gloves are always required to be worn during construction activities. Scaffolding work, painting, building exterior installations and other construction operations are done at risky heights and thus mandate the requirement of industrial fall protection equipment. The number of multi-storey buildings and skyscrapers are increasing worldwide and the construction and maintenance activity in these applications require fall protection equipment for the safety of workers.

Growth of global oil and gas industry

Rise in population, urbanization, and disposable income of people around the world is expected to increase the demand for oil and gas around the world. The growing number of automobile sales around the world, the increased airline traffic, growth of global tourism industry, increasing industrialization and rising construction activity around the world are expected to drive up the demand for petroleum products. More and more people are buying personal vehicles due to the increasing disposable income levels worldwide. The average consumer is increasingly using airlines to travel both internationally and domestically for better comfort and time savings. Growth of new industries around the world is expected to keep the oil and gas demand high. Work in the oil and gas industry is risky and has a high potential for injuries due to accidents. The history of high number of accidental deaths and injuries in this sector is a major reason why fall protection equipment is essential to operations in this sector. The equipment used in this sector is generally customized to suit the specific end use requirements as they are required to not only protect the workers from accident slips & falls but also provide insulation against hard conditions. Companies in the oil and gas sector require high quality products to reduce contingency costs and promote operational safety. Various safety norms and regulations imposed by government bodies around the world already exist to improve the safety of workers in this sector. Hence, with the growth of the global oil and gas industry around the world, the global industrial fall protection equipment market is also expected to grow.

Key segments covered:

Segments

Subsegments

  Type

  • Soft Goods
  • Hardened Goods

  Product

  • Full Body Harness
  • Chest Harness
  • Safety Nets
  • Body Belts
  • Suspension Belts

 

  Industry verticals

 

  • Construction
  • Telecom
  • Oil and gas
  • Energy and utility
  • Logistics
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global industrial fall protection equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial fall protection equipment market share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global industrial fall protection equipment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global industrial fall protection equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
 
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