Increasing Safety Awareness in the Industrial Areas is Expected to Drive the Growth of the Fall Protection Market

Falls are the common cause of serious work related injuries and death. Employees should be provided with protective equipment when working 6 feet above the ground or more. Many types of protection are available; one of them is personal fall protection equipment, which includes anchorages, harnesses, lanyards, and others. The demand for fall protection is increasing due to increasing awareness of safety at workplaces and government regulations.  

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Global Fall Protection Market is expected to reach USD 4,891,107.13 thousand by 2028 from USD 2,852,095.86 thousand in 2021, growing with a CAGR of 8.0% in the forecast period of 2021 to 2028. The industry is anticipated to increase because of rising safety concerns and stricter laws aimed at raising workplace safety standards. The demand for the product will also increase as development and renovation activities increase throughout the developing world. Industrial safety equipment is frequently utilized to prevent falls that can occur while workers walk at heights or mount a ladder during construction work environments. These mishaps can result in paralysis, fractures, brain trauma, and spinal cord damage, among other detrimental side effects.                  

Growing demand for fall protection equipment in the construction and mining project across the world will drive the market's growth rate

Mine owners are looking for effective solutions to protect workers who risk their lives in various mining projects. In construction and mining, the safety systems used are guardrails, safety net systems, and personal fall arrest system. Construction projects are increasing in different regions in the world because of the growth of many industries like hospitals, schools, and industrial areas. Mining projects are extraction of minerals from earth which is leading to growth of the market as minerals have demand worldwide.

Report Scope and Market Segmentation

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. In 2021, the 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. In 2021, the 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 market players in market: 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 October 2020, Honeywell International Inc announced miller H500 series which combines ergonomics and comfort initiative safety features to provide workers with more confidence when working at height
•  In May 2021, MSA safety announced the acquisition of Bacharach Inc, this will expand MSA gas detection portfolio and leverages MSA products and manufacturing expertise into new market
• The MSA Jet-Style Helmet was introduced in September 2018 and has since received NFPA performance certification. Some of these products include the protective visor, LED lights, and an integrated communication system.

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:

Asia-Pacific is the dominant region in fall protection market during the forecast period 2021 to 2028

Asia-Pacific will likely dominate the market. An enormous rise in mergers and acquisitions, integration operations, and site relocations is driving the need for industrial development in the area. The need for better public infrastructure, such as roads, harbors, airports, and rail transportation networks, has increased as the economies of India, China, and Southeast Asian nations have grown.

North America is estimated to be the fastest-growing region in fall protection market the forecast period 2021 to 2028

The highest growth rate is projected for North America. The U.S. and Canada are the two countries that provide the most money to this sector in the area. Due to growing worker safety concerns, early adoption of cutting-edge technology, and stringent regulations requiring the use of fall protection equipment in numerous industries, including construction, the market in this area is witnessing revenue growth.

COVID-19 Impact

Governments all over the world have imposed strict lockdowns in preparation for the COVID-19 pandemic, which is expected to start in 2020. These measures have had a negative impact on the industry because sectors like manufacturing, mining, oil & gas, and construction have been partially or entirely shut down. Furthermore, lockdowns, mandatory quarantines, and a shortage of raw materials and manpower significantly affected the supply chains of critical components and finished goods. As a result of the COVID-19 pandemic, the market in the United States is changing. Companies in this sector are making strategic acquisitions and increasing capacity to keep up with the rising demand after governments and banks acted quickly in 2020, assisting people, bringing job protection measures, and providing fiscal transfers to businesses to avoid defaults. 

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