Global Fall Protection Equipment Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Anchorage Connectors, Fall Protection Kits, Lanyards, Harness, Belts, And Accessories, Others), By End-User Industry (Construction, Oil And Gas, Mining, Energy And Utilities, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Aug 2022 Report Code: KSI061613451 Pages: 120

The global fall protection equipment market is projected to grow at a CAGR of 5.39% to reach US$2.920 billion by 2027, from US$2.020 billion in 2020.

The booming infrastructural development around the globe, especially in developing economies such as India, China, and Indonesia, is one of the major drivers for the market to surge over the forecast period. Growing concerns about worker safety, combined with stringent government regulations in various countries regarding the safety of workers working at heights across various end-user industries, are also driving demand for safety equipment, which will drive demand for fall protection equipment in the coming years.

The booming construction sector in major countries across the globe due to improving economic conditions and government initiatives toward infrastructural development is also projected to bolster the market's growth in the coming years. The burgeoning requirements for workers' safety from various injuries and deaths are also leading to an increased demand for these types of equipment by the companies under which these people work. In addition, government regulations in the North American and European regions also mandate the use of fall protection equipment across various industries, which is also bolstering the market growth in the next five years. For instance, according to the U.S. Occupational Safety and Health Administration (U.S. Department of Labor), all employers must provide fall protection equipment to the workers at elevations of four feet in general industry workplaces, five feet in shipyards, eight feet in long shoring operations, and six feet in the construction industry. Furthermore, according to OSHA standards, this protective equipment should be provided to workers who work on dangerous machines.

The booming construction sector across the globe.

The rising investments in construction activities by both private and government sectors are expected to be one of the key drivers, resulting in an increase in the demand for fall protection equipment worldwide. In addition, rapid urbanization in budding economies like India and China is further amplifying the demand for construction machinery in the coming years. Furthermore, the Make in India project, launched by the government of India, has identified 99 cities that will be converted into smart cities. The growing travel and tourism industry around the globe increases the government's initiative toward the development of the hospitality sector through the construction of hotels and restaurants is further expected to widen growth opportunities in the coming years.

In the Middle East region, the government of major countries like Saudi Arabia and UAE have their main focus on the development of commercial infrastructure, which is indicated by the fact that there are various initiatives taken by the governments of major countries like Saudi Vision 2030, UAE Vision 2021, and UAE Vision 2023 that include the construction of new hotels, airports, and metros, which would add up to the requirements of the market growth throughout the forecast period.

The construction industry held a noteworthy share

On the basis of the end-user industry, the global fall protection equipment market has been segmented on the basis of construction, oil and gas, mining, energy and utilities, and others. The growing population is expected to be one of the driving factors to push the demand for the residential segment higher as more housing units are required to meet the housing needs of the growing population. According to the World Bank, the total global population has grown from 6.903 billion in 2010 to 7.53 billion in 2017 (Source: The World Bank Group).

The construction sector is anticipated to hold a noteworthy share of the market due to the fact that its workers are required to work at highly elevated places. This, in turn, makes their safety of utmost importance as their lives are at risk. Thus, there is high adoption of this protection equipment in the construction industry, which is supporting the significant share of this segment. In addition, the growth in construction activities around the globe is also supplementing the market growth of fall protection equipment during the forecast period and beyond. Rapid urbanization and rising disposable income are also some of the key factors which are supplementing as urbanization is leading to an increase in residential construction in some countries. In India, for example, the number of new residential houses increased from 1,25,551 in 2015-16 to 1,82,861 in 2018-19 (Source: Ministry of Housing and Government Affairs). The mining sector is expected to show notable growth over the coming years on account of the growth of the mining sector, which, along with the burgeoning requirements of fall protection in the mining industry, is expected to positively impact the growth of this segment.

North America held a noteworthy share

By geography, the global fall protection equipment market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. Due to the fact that various government regulations regarding the safety of workers are the major factor supporting the considerably high share in the North American region. Moreover, the presence of key market players in the region is also one of the factors supplementing the growth in this region.

The Asia Pacific region is expected to show propelling growth opportunities during the next five years as the economic conditions of various countries are improving, which is leading to a surge in activity across the various end-user industries. Furthermore, significant growth in the construction industry in countries such as India, China, and Vietnam, among others, is also bolstering the market growth in the region during the next five years.

Key Developments in the Market

  • In January 2022, Diversified Fall Protection firm, a fall protection manufacturer, announced the completion of the acquisition of two fall protection companies, Utah-based Rooftop Anchor, Inc., and California-based Versatile Systems. The two companies offer a comprehensive portfolio of fall protection.
  • In March 2021, Vivatec Safety Ltd., a German-based fall protection equipment manufacturer, opened a new subsidiary in the U.K. Through this development, the firm alleges to develop sustainable products swifter by reducing its carbon footprint owing to the local sourcing of the raw materials. Furthermore, all stages of the production—designing, manufacturing, and testing—would be done at the same site, thereby offering swifter delivery. Additionally, the firm also vows to offer sophisticated solutions to suit the demands of the Britain construction market.
  • In February 2021, Delta Plus Group, a leading market player in the Personal Protective Equipment market, acquired Germany-based Artex, a manufacturer of personal fall protection equipment manufacturer. This acquisition aligns with the former's objective to consolidate its presence throughout the European market. Similarly, through this integration, Artex will be able to access a comprehensive range of Delta Plus's products, accelerating its growth in Germany.

COVID-19 Insights

COVID-19 had a negative impact on the fall protection equipment market. The rise in infected cases mandated lockdown, and border restrictions affected the operation and supply chain of several end-user industries of the market, including construction, oil & gas, and mining, among a few others. Owing to the above-mentioned reasons, several construction and mining projects were halted and slowed down. According to European Union Statistics model, during the peak covid-crisis, the construction index between February and April 2020 was reduced by approximately 30 points across European Union. Such factors have reduced the demand for fall protection supplies.

Global Fall Protection Equipment Market Scope:

Report Metric Details
 Market Size Value in 2020  US$2.020 billion
 Market Size Value in 2027  US$2.920 billion
 Growth Rate  CAGR of 5.39% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Product, End-User Industry, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered 3M, Honeywell International Inc., MSA, Kee Safety, Inc., Carl Stahl GmbH, WernerCo., Guardian Fall, SKYLOTEC GmbH, Petzl, FallTech
 Customization Scope  Free report customization with purchase

 

Segmentation

  • By Product
    • Anchorage Connectors
    • Fall Protection Kits
    • Lanyards
    • Harness, Belts, and Accessories
    • Others
  • By End-User Industry
    • Construction
    • Oil and Gas
    • Mining
    • Energy and Utilities
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Indonesia
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the fall protection equipment market?
A1. The fall protection equipment market is projected to grow at a CAGR of 5.39% during the forecast period.


Q2. What will be the fall protection equipment market size by 2027?
A2. The global fall protection equipment market is projected to reach a market size of US$2.920 billion by 2027.


Q3. What is the size of the global fall protection equipment market?
A3. Fall Protection Equipment Market was valued at US$2.020 billion in 2020. 


Q4. What factors are anticipated to drive the fall protection equipment market growth?
A4. The booming infrastructural development around the globe, especially in developing economies such as India, China, and Indonesia, is one of the major drivers for the fall protection equipment market.


Q5. Which region holds the maximum market share of the fall protection equipment market?
A5. North America is projected to hold a noteworthy share of the fall protection equipment market due to the fact that various government regulations regarding the safety of workers.

1. INTRODUCTION
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. GLOBAL FALL PROTECTION EQUIPMENT MARKET ANALYSIS, BY PRODUCT
5.1. Introduction
5.2. Anchorage Connectors
5.3. Fall Protection Kits
5.4. Lanyards
5.5. Harness, Belts, and Accessories
5.6. Others

6. GLOBAL FALL PROTECTION EQUIPMENT MARKET ANALYSIS, BY END-USER INDUSTRY
6.1. Introduction
6.2. Construction
6.3. Oil and Gas
6.4. Mining
6.5. Energy and Utilities
6.6. Others

7. GLOBAL FALL PROTECTION EQUIPMENT MARKET ANALYSIS, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Spain
7.4.5. Italy
7.4.6. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. Israel
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Indonesia
7.6.6. Thailand
7.6.7. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. 3M
9.2. Honeywell International Inc.
9.3. MSA
9.4. Kee Safety, Inc.
9.5. Carl Stahl GmbH
9.6. WernerCo.
9.7. Guardian Fall
9.8. SKYLOTEC GmbH
9.9. Petzl
9.10. FallTech

3M

Honeywell International Inc.

MSA

Kee Safety, Inc.

Carl Stahl GmbH

WernerCo.

Guardian Fall

SKYLOTEC GmbH

Petzl

FallTech

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