"Stringent Government Regulations Regarding Safety at Work Places Is Primary Factor Fueling the Growth of the Fall Protection Equipment Market"

Globally, the fall protection equipment market is expected to grow with a CAGR of 7.2% during the forecast period from 2021 to 2029, starting from US$ 1.88 Bn in 2020. The fall protection equipment market is growing at a significant pace based on various factors such as increasing awareness regarding industrial safety, growing demand of fall protection equipment for recreational activities, growing utilization of fall protection equipment in construction, industrial and utility sectors and stringent government regulations pertaining to safety in various industries. The use of fall protection equipment in these industrial sectors ensures safety and protection of amateurs and professional participants. Globally, as the construction sector is one of the largest employers of the workforce, it accounts for the majority of demand of fall protection equipment. Thus, rising concerns about overall safety, and growing fleet size of emergency service add to the growth of fall protection equipment market in the near future. However, increasing automation in end-use industries, presence of low quality and inexpensive products, and fragmentation and price competition due to presence of large number of companies is expected to restrain the growth of the market.

"Full-body harness segment dominates the overall market for fall protection equipment"

In 2020, the full-body harness segment led the market by contributing the maximum market share in the global fall protection equipment market and is expected to grow at a CAGR of ~10%. This high growth of the full-body harness segment is mainly attributed to the better support provided by these products in height rescue operations. Full-body outfits provide improved help and are considered be the most regularly utilized products as a part of save operations. Apart from this, full-body harness equipment, products such as chest saddle, body belts, suspension belts, full body bridle and security nets among others show a steady growth based on their adoption.

"Asia Pacific to Register the Fastest Growth"

North America dominates the fall protection equipment market followed by Europe during the forecast period. The factors such as increasing investment in residential and commercial real estate in the US, and government regulations regarding safety measures at work places are primary factors attributed to the high market share of North America. Furthermore, the residential construction sector in Europe has received a boost due to sustained economic growth, the improvement in employment level, and growing demand for residences from refugees and migrants. However, Asia Pacific is anticipated to witness the fastest growth over the forecast period. The high growth of this region can be attributed to factors such as rapid infrastructure development, increasing residential & commercial building construction activities in countries, such as India, Thailand, Indonesia, and China, and growing investments in various other industries.

Some of the prominent players operating in the fall protection equipment market include Honeywell International Inc., Uvex Safety Group, Simplified Safety, Guardian Fall Protection, Capital Safety, Eurosafe Solutions, ABS Safety, French Creek Production, Gravitec System, FallTech, DBI-SALA, 3M Fall Protection, Super Anchor, Karam Industries, MECHANICAL SAFETY EQUIPMENT, GF Protection Canada Inc., CORP, among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Fall Protection Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Fall Protection Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Fall Protection Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Fall Protection Equipment market?
• Which is the largest regional market for Fall Protection Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Fall Protection Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Fall Protection Equipment market worldwide?