Electric Gloves Market Size, Share, Growth, and Industry Analysis, By Type (Low Voltage High Voltage), By Application (Electrical and Electronics, Automotive Industry, Public Utilities, Communication Industry, Others), Regional Insights, and Forecast To 2032

Electric Gloves Market Report Overview

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The global electric gloves market size expanded rapidly in 2021 and the market is projected to grow substantially by 2032, exhibiting a prodigious CAGR during the forecast period.

When working near or on live wires, cables, and electrical equipment such as substation switchgear and transformers, electric gloves, also known as insulating gloves, provide workers with personal hand protection against electrical shocks. A risk assessment identifies electrical shock during the jointing of cables or excavating around live cables as a potential cause of accident that can be avoided when appropriate safety precautions and gloves are worn.

The market's growth can be attributed to the rapid industrialization, rising industry demand, and consumer awareness of electric shock safety and protection. Another factor that is anticipated to drive demand for electric gloves during the forecast period is the fact that electric gloves offer significant burn protection in situations such as arc flash, among others. Expanding labor force and rising interest in assembling, development, gadgets, and telecom enterprises attributable to fast industrialization are a few key elements expected to drive market development.

COVID-19 Impact: Pandemic Hampered the Demand for Electric Gloves

As a result of the COVID-19 pandemic's imposition of a lockdown, a number of businesses and utilities were temporarily prevented from producing, processing, and importing and exporting goods, which decreased demand from these customers. Numerous nations have imposed travel restrictions in an effort to slow the coronavirus's spread, which has had a significant impact on the industry. Due to the COVID-19 pandemic, glove manufacturing and production units are expected to shut down, as are fluctuations in the supply of electrical gloves. Sales of electric gloves were also down as a result of transportation restrictions, the closing of department and specialty stores, and a lack of products. As most of individuals' overall financial status has been seriously influenced by this episode, buyer request has diminished because of individuals' expanded craving to remove superfluous costs from their spending plans. However, the market is anticipated to recover as the respective governing authorities begin to lift these imposed lockdowns.

Latest Trends

"Protection Against Health Hazards to Promote Market Growth"

Key market players are increasing their investments in R&D as a result of growing awareness of safety and protection when working with electrical components. In addition, it is anticipated that rising demand for the development of cutting-edge electrical gloves that offer increased protection against electrical hazards will further open up new opportunities for major corporations and the expansion of the market.  Further, the fact that these electrical gloves are produced without the use of chemicals as a result of environmentally friendly methods is expected to significantly increase demand in the market. Another factor that will contribute to the market's revenue growth over the forecast period is additional protection from acid, low temperatures, ozone, and fire, among other threats.

Electric Gloves Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into low voltage, high voltage. The low voltage segment is expected to capture the maximum market share during the forecast duration.

• By Application Analysis

Based on service, the market can be divided into electrical and electronics, automotive industry, public utilities, communication industry, others. The electrical and electronics segment captures the maximum market share through 2032.

Driving Factors

"Rapid Industrialization to Fuel Market Growth"

The market for electric gloves is anticipated to grow due to rising industrialization and a significant rise in demand from a variety of industries, including the automotive, electrical and electronics, and power generation sectors. In addition, it is anticipated that product innovation and technological advancement will soon present manufacturers with lucrative opportunities and will boost electric gloves market growth.

"Awareness Regarding Safety of Employees to Accelerate Market Demand"

Mechanical progressions that have prompted the improvement of more proficient and solid warming innovations for gloves are supposed to drive market development over the gauge period. The demand for electrical gloves is being driven by an increased awareness of the security and safety of employees.

Restraining Factors

"Regular Inspection Before Use to Hamper Market Expansion"

To ensure their safety, electrical gloves must undergo daily testing, including an air leak test and visual inspection. During the forecast period, the market is likely to be constrained by daily inspection before use. Other factors that are anticipated to significantly hinder the global electric gloves market's revenue growth over the forecast period include discomfort caused by wearing gloves.

Electric Gloves Market Regional Insights

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"Government Regulations in North America Anticipated to Boost Market Development"

North America holds the leading position in the electric gloves market share because of the stringent safety guidelines and regulations that the government enforces for employees and increasing investments in construction, electronics manufacturing, and manufacturing. The U.S. Department of Occupational Safety and Health Administration (OSHA) has enacted legislation to ensure the health and safety of workers throughout the country, which is fueling the expansion of this market.

Key Industry Players

"Market Expansion Is Being Driven By Key Players' Adoption of Innovative Strategies"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Honeywell Safety, Ansell, GB Industries, YOTSUGI CO., LTD., Regeltex, Secura B.C., Boddingtons Electrical, Hubbell Power Systems, Binamé Electroglove, Stanco Safety Products, Derancourt, Protective Industrial Products (PIP), Dipped Products PLC (DPL) and Saf-T-Gard. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

LIST OF TOP ELECTRIC GLOVES COMPANIES

• Honeywell Safety
• Ansell
• GB Industries
• YOTSUGI CO., LTD.
• Regeltex
• Secura B.C.
• Boddingtons Electrical
• Hubbell Power Systems
• Binamé Electroglove
• Stanco Safety Products
• Derancourt
• Protective Industrial Products (PIP)
• Dipped Products PLC (DPL)
• Saf-T-Gard

Report Coverage

This report examines an understanding of the electric gloves market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.