In 2020, the construction segment topped the industry. The increasing number of infrastructure projects, rising preference for home renovation, and a developing market for green buildings internationally are all likely to drive up demand for fall protection in the construction industry. As Slip, Trip, and Fall (STF) hazards have increased in mining locations, posing safety risks to mine employees, the mining industry is expected to remain the primary end-use sector for this product globally.
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Data Bridge Market Research analyses that the Fall Protection Market will grow at a CAGR of 8.00% in the forecast period of 2021 to 2028 and is expected to reach USD 4,891.10 million by 2028 from USD 2,642.50 million in 2020. There is a growing awareness of the importance of worker safety, and this is driving the demand for fall protection products. Many governments have enacted stringent workplace safety regulations, driving the demand for fall protection products. The construction industry is one of the largest users of fall protection products, and the increasing demand for construction is driving the growth of the market. The rise in offshore drilling activities is also driving the demand for fall protection products.
Growing infrastructural development is expected to drive the market's growth rate
The passage of the Infrastructure and Investment Jobs Act in November 2021 has boosted the building industry, increasing demand for fall protection. Fall protection equipment is primarily used to safeguard employees from injuries caused by free falls. Falls are the most common cause of accidents in the construction, industrial, and mining industries, accounting for the vast majority of injuries and fatalities. This product is used to protect employees who work at heights. Emerging Asia-Pacific economies, such as China and India, have witnessed tremendous urbanization and industrialization in recent years, and are expected to have a larger blue-collar workforce.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013- 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Product, Services), By Industry (Mining, Construction, Oil & Gas, Energy & Utilities, Telecommunication, Agriculture, Transportation, Marine And Shipbuilding, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Honeywell international Inc. (U.S.), 3M (U.S.), Guardian Fall (U.S.), Petzl. (France), W.W. Grainger Inc. (U.S.), SKYLOTEC (Germany), and Kee Safety, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
Global fall protection market is segmented into two notable segments based on type and industry.
- On the basis of by type, the fall protection market is segmented into product and industry. Product fall protection segment is expected to dominate the global fall protection market with a market share of 69.25% due to an increase in safety awareness in the working place. Product segment is expected to dominate in the Asia-Pacific region due to an increase in the vertical structure construction industry.
The product fall protection segment will dominate the type segment of the fall protection market
The product fall protection segment will emerge as the dominating segment type segment. This is because of the growing demand for product fall protection in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of industry, the fall protection market is segmented into mining, construction, oil & gas, energy & utilities, telecommunication, agriculture, transportation, marine and shipbuilding, and others. Construction segment is expected to dominate the global fall protection market with a market share of 29.28% because fall protection is widely used in construction sites due to increased awareness of safety. In the Asia-Pacific region, the construction industry is expected to dominate due to increased use of fall protection uses in that field.
The construction segment will dominate the industry segment of the fall protection market
The construction segment will emerge as the dominating segment under industry. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Honeywell international Inc. (U.S.), 3M (U.S.), Guardian Fall (U.S.), Petzl. (France), W.W. Grainger Inc. (U.S.), SKYLOTEC (Germany), and Kee Safety, Inc. (U.S.).
Market Development
- In May 2021, MSA Safety announced the acquisition of Bacharach Inc., a leader in gas detection technologies used in the HVAC-R markets. This acquisition will expand MSA's gas detection portfolio and leverage MSA's products and manufacturing expertise into new markets. Bacharach is a well-respected company with a long history of innovation. The company's products are used by a wide range of industries, including HVAC-R, industrial, and commercial. The acquisition of Bacharach is a strategic move for MSA. It will allow MSA to expand its gas detection portfolio and reach new markets. MSA is also excited to leverage Bacharach's expertise in gas detection to develop new products and solutions.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the fall protection market during the forecast period 2021-2028
North America is the largest market for fall protection. The United States is the largest market in North America, followed by Canada. The growth of the North American fall protection market is driven by several factors, including the growth of the construction industry.
Asia-Pacific is estimated to be the fastest-growing region in the fall protection market in the forecast period 2021-2028
Asia-Pacific is the fastest-growing market for fall protection. China is the largest market in Asia-Pacific, followed by India and Japan. The growth of the Asia-Pacific fall protection market is driven by several factors, including increasing awareness of worker safety, stringent government regulations, and rise in offshore drilling activities.
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