What is the global market size of Fall Protection Equipment Market?

The Global Fall Protection Equipment Market is valued at USD 2.61 Billion in 2021, and it is anticipated to attain a value of USD 4.36 Billion by 2028, at a CAGR of 6.1% over the prediction period (2022 - 2028). Read More

Global Fall Protection Equipment Market Size, Share, Growth Analysis, By Type(Soft Goods, Hard Goods), By Application(Construction, Transportation) - Industry Forecast 2024-2031

Report ID: SQMIG20C2057 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 71 | Figures: 78

Global Fall Protection Equipment Market Dynamics

Fall Protection Equipment Market Driver

Stringent and safety regulations from government organisations regarding worker safety are expected to be a factor driving the growth of the fall protection equipment market over the forecast period. The rising demand for fall protection equipment such as body belts, suspension belts, body harnesses, fall arrest systems, and safety nets from the construction, mining, and energy and utility sectors is expected to drive the growth of the fall protection equipment market during the forecast period.
Rising concerns about overall safety, increasing fleet size of emergency services, and increasing regulatory mandates at the workplace will all contribute to growth in the fall protection equipment market in the over thr forecast year.
Rapid industrialization and urbanization across the developing country seeking the development of infrastructure is another cardinal aspect driving factor for the market.

Fall Protection Equipment Market Restraint

The sale of low-quality and low-cost products is expected to be a factor impeding the growth of the fall protection equipment market over the forecast period. Furthermore, a lack of demand from developing countries due to a lack of awareness and the use of sub-standard products will restrain the growth of the fall protection equipment market during the forecast period.
One of the major setbacks for steel industries during covid-19 and Russia-Ukraine war has caused restraints in expansion of the market.

Global Fall Protection Equipment Market Report Snapshots

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FAQs

Fall protection equipment is a type of protective equipment used in a variety of end use sectors to keep workers safe when working at heights. The use of ergonomically designed fall protection equipment can help to avoid repetitive stress injuries and eliminate stress injuries caused by muscle overuse. Fall protection equipment includes full body harnesses, chest harnesses, safety nets, body belts, and suspension belts. Among these, full body harness equipment is widely used in rescue operations due to its enhanced support.

Rapid technological advancements in the field of fall protection equipment, rising population, rising industrialization in developing countries, rising number of construction activities globally, and rising preference for recreational activities such as rock climbing, ice climbing, zip-lining, bungee jumping, and mountaineering are some key factors expected to drive revenue growth in the global fall protection market over the forecast period. '3M', 'MSA', 'Petzl', 'Karam', 'TRACTEL', 'SKYLOTEC GmbH', 'Honeywell', 'ABS Safety', 'FallTech', 'Elk River', 'Bergman and Beving', 'Irudek 2000', 'Guardian', 'GEMTOR', 'FrenchCreek', 'Safe Approach', 'Super Anchor Safety', 'Sellstrom', 'PandP Safety', 'CSS Worksafe', 'In April 2022, Honeywell announced a definitive agreement to acquire Norcross Safety Products L.L.C., a leading manufacturer of Personal Protective Equipment (PPE), for approximately $1.2 billion.', 'In September 2021, HazTek Inc. has announced a collaboration with Tractel. This collaboration will enable Haztek to provide protection expertise and solutions for any facility or project.', 'In May 2021, Pure Safety Group rebranded its height safety brands—Stronghold by PSG, Ty-Flt, Checkmate, and HART—as Guardian. As a result of this growth, Guardian is now the world's largest independent fall protection and prevention brand.'

Stringent and safety regulations from government organisations regarding worker safety are expected to be a factor driving the growth of the fall protection equipment market over the forecast period. The rising demand for fall protection equipment such as body belts, suspension belts, body harnesses, fall arrest systems, and safety nets from the construction, mining, and energy and utility sectors is expected to drive the growth of the fall protection equipment market during the forecast period.

The COVID-19 outbreak has continued to have a negative impact in several countries in 2021. Shutdowns or limited business operations at manufacturing plants, as well as lockdowns and travel restrictions, have hampered the production and supply chain of fall protection equipment. The constant demand for fall protection equipment decreased slightly in 2020, owing to the government's lockdown and a low number of construction projects. However, due to an increase in construction activity, oil and gas exploration, and telecom projects in 2021, there will be a demand for fall protection equipment to ensure employee safety. E-commerce businesses have also contributed to an increase in the demand for fall protection equipment in the construction industry.

In 2021, North America is expected to dominate the Fall Protection Equipment market, followed by Europe. Due to rapid industrialization, both of these markets are expected to experience tremendous growth in the fall protection equipment market. Regional industry players are rapidly adopting high-quality safety equipment in order to reduce fatalities and contingency and medical costs. Furthermore, stringent government regulations protecting consumer and labour rights will boost regional market share.

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Global Fall Protection Equipment Market Size, Share, Growth Analysis, By Type(Soft Goods, Hard Goods), By Application(Construction, Transportation) - Industry Forecast 2024-2031

Global Fall Protection Equipment Market Dynamics

Global Fall Protection Equipment Market Report Snapshots

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