Industry Insights
The global Personal Protective Equipment (PPE) market size was valued at $38.38 billion in 2015. Mandatory workplace safety regulations by various international organizations such as NIOSH, OSHA and NFPA have forced employers to maintain employee safety as one of their top priorities. Strict rules and guidelines regarding safety regulations & occupational health are anticipated to steer the PPE market over the next eight years.
The safety equipment need to be manufactured precisely according to the regulations/safety standards to make it appropriate for use, storage, and maintenance for a longer period. Industry participants have shifted their focus towards producing efficient and durable safety equipment to cater their global clientele requirements. Employers have increasingly prioritized worker’s safety and have issued guidelines for the hazardous activities to minimize the potential workplace accidents. These incidents, if not monitored, may incur losses to the company in the form of reimbursements and settlements. There are huge costs related to non-compliance of safety & health procedures which is expected to urge end-use sectors to invest in maintaining the PPE inventory over the long term. PPE is expected to witness rapid growth over next few years, owing to the strict health regulations concerning the safety of employees in industries such as oil & gas, chemical, manufacturing and construction. These industries form a major contributor towards a country’s GDP and are among the largest employers of blue-collar workforce across the globe.
Industry Insights
The global Personal Protective Equipment (PPE) market size was valued at $38.38 billion in 2015. Mandatory workplace safety regulations by various international organizations such as NIOSH, OSHA and NFPA have forced employers to maintain employee safety as one of their top priorities. Strict rules and guidelines regarding safety regulations & occupational health are anticipated to steer the PPE market over the next eight years.
The safety equipment need to be manufactured precisely according to the regulations/safety standards to make it appropriate for use, storage, and maintenance for a longer period. Industry participants have shifted their focus towards producing efficient and durable safety equipment to cater their global clientele requirements. Employers have increasingly prioritized worker’s safety and have issued guidelines for the hazardous activities to minimize the potential workplace accidents. These incidents, if not monitored, may incur losses to the company in the form of reimbursements and settlements. There are huge costs related to non-compliance of safety & health procedures which is expected to urge end-use sectors to invest in maintaining the PPE inventory over the long term. PPE is expected to witness rapid growth over next few years, owing to the strict health regulations concerning the safety of employees in industries such as oil & gas, chemical, manufacturing and construction. These industries form a major contributor towards a country’s GDP and are among the largest employers of blue-collar workforce across the globe.
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