Electrical Safety Personal Protective Equipment Market is likely to witness an impressive CAGR of 6.2% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
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Electrical Safety Personal Protective Equipment Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The major factors such as growing electrical safety PPE demand owing to employers’ inclination towards safety of workers, stringent occupational health & safety regulations made by government agencies, and growing innovations in PPE manufacturing are expected to drive the growth of the market during the forecast period.
Asia-Pacific is projected to be the fastest region in the market with China, India, and Japan being the major countries with lucrative growth opportunities over the forecast period. Growing product demand in manufacturing sector mainly in India owing to “Make in India” initiative and hazards including fire, explosion and arc flash are expected to positively influence the market growth during the forecast period.
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Report Scope & Market Segmentation
Electrical Safety Personal Protective Equipment Market Share: By Product Type
Based on the product type, the market is segmented as head protection, eye & face protection, hearing protection, arc rated clothing, protective footwear, hand protection, and others. Arc rated clothing product type is anticipated to account for the major share of the market during the forecast period. Factors such as its utilization during wastewater management development owing to arc welding equipment usage for fabricating infrastructural facilities including tanks & pipes, and various features offered by it such as absorption, air calculation and electrical insulation are expected to accelerate the product demand in the market over the forecast period. Moreover, protective footwear is estimated to witness significant growth rate in the market during the forecast period owing to its high utilization in construction sector for electrical protective footwear manufacturing, which is expected to boost the market growth during the forecast period.
Electrical Safety Personal Protective Equipment Market Share: By End-Use Type
Based on the end-use type, the market is segmented as electrical, oil & gas, mining, machinery, construction, automotive, and others. Mining industry is estimated to witness significant growth rate in the market during the forecast period. There are various equipment including hard hats, hand & head protection, safety glass and hearing, which are majorly used for safe mining operations. Further, increase in arc flash accidents in mining sector from energized electrical equipment use for activities such as transmission and drilling, and rise in mining industry because of increasing demand for commodities including iron ore, coal and copper are the major factors fueling the product demand in the market during the forecast period.
On the other hand, machinery end-use type is estimated to account for the major share of the market owing to the use of safety glasses, hearing protection and safety shoes during machinery operations so as to provide protection against hazards caused due to any electrical, hydraulic and pneumatic power supplies which is expected to boost the growth of the industry over the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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