ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET
The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to worldwide, so far 219 countries and territories have been affected with COVID-19. Moreover, the World Health Organization (WHO) declared the COVID-19 outbreak, a pandemic on March 11th, 2020. COVID-19 has adversely affected the economy globally leading to the global recession. Many companies were being bound to take stringent actions of lying of their employees, small businesses are being shut and manufacturing facilities are being put on hold. There has been a disruption in supply chain of many industries due to restriction in logistics and closing of manufacturing facilities. In addition, the slowdown in economy has lowered the spending capability of individuals and people are saving money for emergencies.
Global dust extractor market has noted a gradual decrease in the demand due to shutdown of manufacturing facilities, construction sites, hotels, chemical labs and others. During the initial period of COVID-19, construction was one of the badly hit industries due to strong adoption towards remote working, contractual obligations and shortage of labor, project delays and others. This has further affected the need for dust extractors in the several industries as the pandemic has forced all construction activities to halt for several months, thereby affecting the dust extractor market growth. However, in industries such as pharmaceutical and healthcare, a gradual increase for dust extractors has been noted.
AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVES TO BOOST THE MARKET
COVID-19 outbreak has affected the individuals and markets' behavior which has further impacted economies and societies. The companies that want to recover from the pandemic crisis would need to be digitally stable, understand the customer needs and respond to the rapidly changing market.
Since the COVID-19 occurrence, majority of the pharmaceutical companies have been continuously working on new medicines and drugs which has also led to higher generation of toxic waste and dust that can be harmful for workers. This situation has boosted the use of industrial dust extractors. Since the pandemic and lockdown, dust extractors are finding more use across industries in order to get rid of contaminants and live in a hygienic environment. The growing need among industries to maintain hygiene levels in the premises and with health facilities and hospitals trying to following hygiene standards following the COVID-19, it is expected that the industrial dust extractor market can advance at a better rate.
Furthermore, it has been noted that following the novel coronavirus, the health awareness among people has increased tremendously. This is expected to result in massive demand for industrial dust extractors across mineral grinding, abrasive media manufacturing, carbon black industry and others. Therefore, dust extractors have emerged as one of the best solutions for those who are prone to lung infections, thereby benefitting the global market.
STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE
As the COVID-19 crisis continues to expand, the manufacturers faced challenges on varied fronts. Production firms would be searching for immediate measures and solutions to keep their workforces and staff safe and continue their businesses smoothly.
Software developer needs to focus on updating and developing technologies which promotes automation in the construction process to ensure safety and boost the sales. Manufacturers were engaged in product development with advanced technologies, partnerships and acquisitions to gain competitive advantage in the market.
For instance,
- In April 2020, Finegear launched an advanced dust collector that has a few appealing features. It can generate experimental and vintage effects and also produce both aggressive and warm tones.
- In January 2019, DEWALT announces the launch of universal dust extractor (DWH161) and SDS+ dust extraction tube kit (DWH200) at World of Concrete 2019. The product offers portable and convenient OSHA Table 1-compliant solutions for dust collection. These DEWALT dust extractors come in onboard, stationary and portable with cordless and corded varieties available. It is an OSHA Table 1-compliant cordless, lightweight and highly portable solution optimized for wide range of tools and applications including SDS+ rotary hammers for drilling and chipping, percussion hammer drills, drywall cutout tools, sanders, routers and jig saws.
Impact on Price
The COVID-19 lockdown imposed by the government of the countries had impacted the prices of dust extractors. The pandemic is expected to bring increased demand of dust extractors amongst industries and disruption in supply chain which highly impacted the prices of dust extractors and tools. Moreover, increased concern toward health and dust-free environment is likely to impact the pricing of dust extractor market.
Impact On Demand
The post-pandemic scenario is boosting the demand for dust extractor and services owing to increased focus of the healthcare, pharmaceutical and food and beverage industry towards reduction of dust in the work area. Moreover, for all the ongoing and shutdown projects, designers, contractors, construction managers and architects need to perform all the duties with COVID-19 regulations and restructure the costs and profits. This would result in increased demand for dust extractors in order to provide safe working environment for everyone.
Impact on Supply Chain
The supply chain was adversely affected as the lockdown prevailed in many regions globally. The companies are making their operation work according to the government regulations such as limiting the workforce and increasing the work shifts. However, now there is an improvement in the supply chain as most of the facilities have opened and working in the most optimum capacity. A slowdown in manufacturing facilities has highly impacted the supply chain of dust extractor industry but with automation and digitization of various processes, the industry is expected to normalize very soon.
Conclusion
The pandemic has accelerated the need for dust extractors in most of the sectors. The dust extractor market is expected to show a growth in coming days as COVID-19 has forced to implement norms of social distancing and work in smoother manner. Some of the planning steps include:
- Industrial dust collector manufacturers continuously coming up new and advanced products with better and more appealing features, the market is bound to perform better in coming years
- Growing concerns toward safe and hygienic working environment is expected to result in increased growth of the market
- Change in hygiene protocols and standards to create new opportunities for the dust extractor market
The manufacturers were focusing towards partnerships and collaborations to meet the increasing demand in the COVID-19 outbreak. Government’s decisions of digitization, automation and safe working environment are also boosting the dust extractor market.
