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Increasing Demand for Face and Eye Protection Tools to Drive Electrical Protective Equipment market Growth At 27.36% CAGR during 2020–2027
NEW YORK, UNITED STATES, March 30, 2022 /EINPresswire.com / -- The Insight Partners published the latest research 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 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% from 2019 to 2027.
Strategic Insights
Report Coverage Details
Market Size Value in US$ 12,890.2 million in 2021
Market Size Value by US$ 15,658.6 million by 2028
Growth rate CAGR of 2.6% from 2021 to 2028.
Forecast Period 2020-2027
Base Year 2020
No. of Pages 170
No. Tables 78
No. of Charts & Figures 56
Historical data available Yes
Segments covered Product; End-User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Growth in the adoption of the 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.
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 a 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 have 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 exists a possibility of the generation of electric arcs; thus, the workers must be protected with non-conductive, durable, and heat-resistant electrical protective equipment that offers deflection qualities.
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The growing Power Generation Industry is Driving the Growth of the Global Electrical Protective Equipment market
The power generation industry is witnessing a huge transition. Digitalization, grid-scale battery storage, and microgrids are prominent factors broadening the scope of the 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 & utility 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 the power generation industry would drive the need for safe electrical protective equipment, thus promoting the market growth.
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.
Electrical Protective Equipment Market: Competitive Landscape and Key Developments
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. and Cintas Corporation are among the key players in the global Electrical Protective Equipment market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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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 the 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.
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