Report : Electrical Protective Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Insulated Tools, Face and Eye Protection, Respiratory Protection, Protective Apparels, Head Protection, and Others); End User (Manufacturing, Construction, Oil & Gas, Healthcare, Transportation, and Others)
Increasing demand for face and eye protection tools to drive electrical protective equipment market growth at 27.36% CAGR during 2020–2027
According to our latest market study on “Electrical Protective Equipment Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Product (Insulated Tools, Face and Eye Protection, Respiratory Protection, Protective Apparels, Head Protection, and Others); End User (Manufacturing, Construction, Oil & Gas, Healthcare, Transportation, and Others), and Geography,” the market was valued at US$ 1,222.3 million in 2019 and is projected to reach US$ 1,315.3 million by 2027; it is expected to grow at a CAGR of 1.0% from 2019 to 2027. The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
The severe regulatory agenda regarding worker safety principally in developed countries propels the demand for electrical protective equipment. Also, the growing adoption of OSHA-regulated products to reduce the impact of injurious exposures is the crucial factor in supporting the market growth. Further, OSHA directs the use of choosing the right protective gear. The increasing concerns regarding the safety of workers has potentially surged the demand for numerous electrical protective equipment, mainly face and eye protection equipment, which includes surgical masks, face shields, protective goggles, and respirators. While working on energized parts, there exist a possibility of the generation of electric arcs; thus, the workers must be protected with nonconductive, durable, and heat-resistant electrical protective equipment that offer deflection qualities.
Growth in the adoption of face and eye protection is creating significant opportunities for electrical protective equipment providers. The market for face and eye protection equipment is expected to reach US$ 4,269.84 million by 2027 Face and eye protection can be achieved by wearing eyewear, specially designed to mitigate the risk of exposure to chemical splashes or laser radiation. The high growth of the market for face and eye protection is expected to create significant global demand for electrical protective equipment.
3M, Alpha Pro Tech, Ansell Ltd., Cintas Corporation, Delta Plus Group, Honeywell International Inc., Lakeland Inc., MSA, NSA-National Safety Apparel, and Mallcom (India) Ltd., are among the leading players operating in the electrical protective equipment market. Several other players are also functioning and are contributing significant revenues to the market.
COVID-19 Impact on Electrical Protective Equipment Market
According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries by the COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take a worst hit in 2020, as well as in 2021. The outbreak has primarily created significant disruptions in industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global electrical protective equipment market as they contribute a major share to the total demand for electrical protective equipment. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the transmission have impacted both manufacturing and sales of various products. The global manufacturing industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.
The report segments the global electrical protective equipment market as follows: