Fall Protection Market Size, Top Players, Regional Demand and Investment Opportunities – The Bollywood Ticket
The global fall protection market size is expected to reach USD 4.86 billion in 2028 and register a CAGR of 7.9% over the forecast period, according to the latest report from Reports and Data. The major drivers of market revenue growth are the increasing preference for recreational activities such as rock climbing, ice climbing, zip lining, bungee jumping, and mountaineering. Furthermore, the growing number of on-site training programs, the presence of stringent regulations governing worker safety, and the growing need to reduce workplace accidents are factors that are expected to drive the market revenue growth. Additionally, the continued development of construction and mining industries across the globe is expected to drive the market revenue growth.
On-body and off-body products are two main types of fall protection equipment. Safety belts, safety nets, connection devices and suspension belts are some examples of fall protection equipment on the body. This type of equipment is usually worn or strapped to the worker’s body to prevent falls. Fall protection equipment is widely used in different end-use industries such as construction, telecommunications, mining, transportation, energy and utilities.
Based on a regional analysis, North America is expected to witness a very rapid revenue growth rate over the forecast period. Governments in developed countries such as the United States and Canada have put in place strict regulations to make fall protection equipment applications mandatory in different industries. Additionally, rising concerns over worker safety are expected to drive the market growth in this region over the coming years.
Moreover, Europe accounted for the second largest revenue share in the global market in 2020. Rapid development in the utilities, transportation and telecommunications sectors, as well as an increasing number of construction projects are expected to drive the growth. market revenue in this region during the forecast. period.
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Players profiled in the global market report include 3M Company, Honeywell International Inc., MSA Safety Inc., Werner Co., GF Protection Inc., SKYLOTEC GmbH, WW Grainger, Inc., Total Access, Kee Safety, Inc. and FallTech.
Some key highlights of the report:
- In July 2020, McNetiq launched a new product line focused on magnetic anchors for fall protection. These can be used when working at great heights. Magnetic anchors are also durable because these temporary anchor points do not require soldering. Where there is a potential risk of falling two meters or more, the use of personal fall protection is mandatory in many parts of the world. Mc Netiq has designed these anchors for application in many fields such as work on cranes and wind turbines, unloading and loading work on ship decks, shipbuilding and maintenance, as well as construction work and demolition on drilling rigs.
- The construction segment is expected to register a faster revenue CAGR throughout the forecast period. The continued development of the construction sector in emerging countries, the growing awareness of worker safety and the high demand for fall protection equipment in the construction industry are expected to drive the growth of this segment.
- The access system segment accounted for the largest revenue share in the global market in 2020. The increasing use of the access system while working in confined spaces is expected to drive the growth of this segment in the coming years.
- Asia Pacific accounted for a 25.2% revenue share in the global market in 2020 and is expected to grow at a faster revenue CAGR during the forecast period. Increasing technological advancements, growing population and rapid industrialization are expected to drive the market revenue growth in this region.
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For the purposes of this report, Reports and Data has segmented the global fall protection market based on type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Flexible products
- Durable goods
- Rope grab
- Manual fall arrester
- Anti fall
- Shrink blocks
- System installed
- rescue kit
- Access system
- Aerial lifts
- Manually propelled elevating work platforms
- Vehicle Mounted Lifts and Rotary Lifts
- Boom Elevating Work Platforms
- Self-Propelled Elevating Work Platforms
- Scissor lift tables and more
- Assembly and disassembly
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- General industry
- petroleum gas
- Energy and Utilities
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Key Highlights of the Global Fall Protection Market Report:
- Complete analysis of the changing competitive landscape
- Assistance with business decision-making processes as well as detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the global fall protection market
- SWOT analysis and Porter’s five forces analysis to offer accurate insights
- Comprehensive coverage of key technology developments, market trends and product developments
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