The electrical protective equipment market was valued at 12,890.2 Mn in 2019 and is projected to reach 15,658.6 Mn by 2027; it is expected to grow at a CAGR of 2.6% during 2020-2027.
Due to rising industrial growth and urbanization, energy consumption has increased manifolds. To meet the growing need for power, establishment of intrastate transmission and sub-transmission network is on the rise. In Asia, India is the third-largest producer of electricity, and its power generation capacity is exponentially expanding. Due to the government support, the Indian market is taking up numerous power transmission projects. For instance, the Khargone Transmission Project was initiated to connect NTPC's 1,320 MW thermal power project at Khandwa, Madhya Pradesh, with a transmission system to serve Maharashtra and southern states. Also, companies such as Mannvit provide services to renewable energy, transmission, oil & gas, industrial, and infrastructure sectors. At present, the company handles construction and maintenance projects for power transmission lines in Greenland, Norway, and Iceland. In addition, new power transmission projects, in existing transmission line are also taking place. For instance, the planned New Scotland Electric Transmission Upgrade Project is expected to promote the state’s electrical grid for future. Growth in power transmission projects across the globe would require electricians to wear electrical protection equipment at work locations. Furthermore, increase in electrical infrastructure projects worldwide is driving the use of electrical protective equipment in various industries.
Impact of COVID-19 Pandemic on Electrical Protective Equipment Market
Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak, with more than 1.43 million confirmed cases and more than 87,000 deaths by 18th May 2020. The US is one of the largest markets for electrical protective equipment, especially in the manufacturing, construction, and oil & gas industries, owing to stringent government/industry regulations regarding the health and safety of the workers. The unprecedented increase in the number of confirmed cases and rising reported deaths in the country are affecting both supply and demand of electrical protective equipment. The ongoing COVID-19 crisis and critical situation in the US are likely to hinder the electrical protective equipment market growth in North America in the next few quarters. The imposition of lockdown strategy adopted by respective governments has resulted in a labor shortage. Thus, scarcity of workforce, coupled with lack of demand, has resulted in a substantial loss in the global electronic protective equipment market.
Lucrative Regional Electrical Protective Equipment Market
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Market Insights
Growing Power Generation Industry is driving the Growth of Global Electrical Protective Equipment market
The power generation industry is witnessing huge transition. Digitalization, grid-scale battery storage, and microgrids are prominent factors broadening the scope of power generation industry. Under this industry, natural gas has ruled the US power generation as solar and wind witnessed a rise in capacity. Driven by scrutiny from regulators opportunities are knocking the power & utilities industry to encourage clean energy transition. Utilities such as Engie, AusNet, and Duke Energy are involved in microgrid project development. This drives the growth of the power generation industry across the world. Power generation, transmission and distribution, renewables, nuclear, and energy storage industries across the world are rapidly developing. Sellafield Nuclear Decommissioning, France Nuclear Power Plant Upgrades, State Grid Corporation of China (SGCC) Transmission Lines, Baihetan Hydropower Station, and Hinkley Point C Nuclear Power Plant are among the projects prevailing in the power generation industry. Escalating power generation industry would drive the need for safety electrical protective equipment, thus promoting the market growth.
Product-Based Insights
In terms of product, the face and eye protection segment captured the largest share of the global electrical protective equipment market in 2019. The increasing concerns regarding the safety of workers has potentially surged the demand for face and eye protection equipment, including surgical masks, face shields, protective goggles, and respirators.
Global Electrical Protective Equipment Market, by Product – 2019 and 2027
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End User-Based Insights
Based on end user, the electrical protective equipment market is segmented into manufacturing, construction, oil & gas, healthcare, transportation, and others. The manufacturing segment captured a dominating share in the global electrical protective equipment market in 2019. In the manufacturing sector, electrical exposures might result in electric shock, arc flash, and fire. Moreover, the workers in the manufacturing sector are subject to many electrical risks factors, including exposed wires, improperly installed equipment, and unlocked electrical panels. To reduce the risk of electric hazard, the sector is highly inclined toward conducting electrical safety program for employees to make them capable of recognizing electrical hazards and knowing safe work practices.
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Electrical Protective Equipment Market: Strategic Insights
Market Size Value in 12,890.2 Mn in 2019 Market Size Value by 15,658.6 Mn by 2027 Growth rate CAGR of 2.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Electrical Protective Equipment Market: Strategic Insights
| Market Size Value in | 12,890.2 Mn in 2019 |
| Market Size Value by | 15,658.6 Mn by 2027 |
| Growth rate | CAGR of 2.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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In the electrical protective equipment market, the mergers and acquisitions strategy is commonly adopted by companies to expand their footprint worldwide by meeting the growing demand for their offerings. This strategy is mostly observed to be implemented in the market of Europe. A few of the recent acquisitions in the electrical protective equipment market are listed below:
2020: Delta Plus has made two acquisitions by acquiring the Boots Company Group in Italy and the commercial assets of Netco Safety in France, adding a total of ~€17 million ($19 million) in annual sales. These acquisitions are expected to support Delta Plus Group to strengthen its capabilities in work boot category.
2019: Delta Plus Group announced that it has completed the acquisition of 100% of the shares of ODCO, with the aim to strengthen its presence in the market for infrastructure safety solutions against falls from heights.
Market Segmentation
Electrical Protective Equipment Market – By Product
- Insulated Tools
- Face and Eye Protection
- Respiratory Protection
- Protective Apparels
- Head Protection
- Others
Electrical Protective Equipment Market – By End User
- Manufacturing
- Construction
- Oil & Gas
- Healthcare
- Transportation
- Others
Electrical Protective Equipment Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Companies Profiled in Electrical Protective Equipment Market are as Follows:
- 3M
- ALPHA PRO TECH, LTD
- Ansell Limited
- Cintas Corporation
- Delta Plus Group
- Honeywell International Inc.
- Lakeland Industries Inc.
- Mallcom (India) Limited
- MSA Safety Incorporated
- NSA - National Safety Apparel
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The Europe region led the electrical protective equipment market in 2019 owing to the stringent workplace safety and industrial PPE based safety guidelines and regulation imposed by numerous industrial and government organizations. Moreover, organized industrial sectors equipped with awareness among the individual also significantly contributed in the penetration of the electrical protective equipment across the European countries over the years resulting in significant market share.
The rising awareness towards industrial PPE products along with surge in organized industrial sector especially among the fast-growing economies across Asian region have significantly powered the growth of the market over the years. Furthermore, the countries in APAC region especially are projected to provide numerus lucrative business growth opportunities owing to rise in number of government regulations and guidelines to minimize workplace accidents or hazards.
The. Manufacturing sector led the electrical protective equipment market owing to extensive application of numerous electrical machineries, systems and equipment being installed in the manufacturing facility. Furthermore, the considerable demand for their maintenance, support and services is expected to continue to provide a steady market growth opportunity for the market players during the forecast period.
The List of Companies - Electrical Protective Equipment Market
- Ansell Limited
- MSA Safety Incorporated
- Delta Plus Group
- ALPHA PRO TECH, LTD.
- Honeywell International Inc.
- 3M
- Mallcom (India) Limited
- NSA - National Safety Apparel
- Lakeland Industries Inc.
- Cintas Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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