Fall Protection Equipment Market Global, Regional and Country Wise Data Break up

Posted by Sakshi Mishra on January 7th, 2020

The global fall protection equipment market is greatly fueled by the rising demand for such equipment in a number of industrial sectors such as power and construction. In a report titled “Fall Protection Equipment Market in Rescue - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, Transparency Market Research states that the global fall protection equipment market is likely to expand at a 9.0% CAGR from 2014 to 2020, with the overall value expected to rise from US.9 bn in 2013 to US.5 bn by 2020.

The global fall protection equipment market is driven by the rising concerns about overall safety and occupational safety, increasing regulatory mandates at places of work, and growing fleet size of emergency services. Emerging opportunities in developing regions such as Latin America, Asia Pacific, Africa, and the Middle East are forecast to boost the global market over the next four years. However, sale of inexpensive and low-quality products is anticipated to hamper the growth of the fall protection equipment market.

Looking for exclusive market insights from business experts? Request a Sample Report

The fall protection equipment market is segmented on the basis of product type into full-body harnesses, body belts, safety nets, chest harnesses, suspension belts, and others. Valued at US6.7 mn in 2013, full-body harnesses formed the largest product segment of the overall fall protection equipment market. Full-body harnesses provide enhanced support and are hence most commonly used in rescue operations. Registering a 9.60% CAGR from 2014 to 2020, the segment of safety nets is anticipated to develop at the fastest pace.

The global fall protection equipment market is geographically divided into Europe, Africa, the Middle East, North America, Asia Pacific, and Latin America. North America and Europe are the most prominent markets for fall protection equipment, with North America emerging as the leading regional segment in 2013. With emergency services increasing their fleet size and the implementation of several safety mandates, the North America market is anticipated to witness stable growth during the forecast period. In 2013, this region was valued at US0.7 mn. Africa has been identified as having immense potential for growth. Driven by the increase in rescue operations in countries such as South Africa, Kenya, and Nigeria, the fall protection equipment market in Africa is projected to expand at a remarkable CAGR of 17.90% from 2014 to 2020.