FALL PROTECTION BELTS AND ACCESSORIES MARKET REPORT OVERVIEW
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The global fall protection belts and accessories market size was USD 3691 million in 2021 and the market is projected to touch USD 8199 million by 2031, exhibiting a CAGR of 8.2% during the forecast period. In the market study, our analysts have considered fall protection belts and accessories players such as 3M, MSA, Petzl, Karam, TRACTEL, SKYLOTEC GmbH, Honeywell, ABS Safety, FallTech, Elk River, Bergman & Beving, Irudek 2000, Guardian, GEMTOR, FrenchCreek, Safe Approach, Super Anchor Safety, Sellstrom, P&P Safety, and CSS Worksafe.
The global COVID-19 pandemic has been unprecedented and staggering, with fall protection belts and accessories experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Fall protection materials are designed to protect personnel from falling. The protection material ensures safety and prevent falling also without causing severe injury. Accessories such as connectors and lanyards can also help prevent falls or limit the distance a worker may fall.
Growing awareness about the benefits of fall protection materials in construction, industrial and other workplaces is anticipated to expand market growth. The material ensures safety from falling, and they are lightweight, comfortable, and easy to use. These advantages of the material are projected to drive market growth. Increasing number of accidents in construction and workplace areas is anticipated to boost the product adoption. Fast industrialization and urbanization are predicted to expand market growth. However, the product's high cost and maintenance cost is estimated to hamper fall protection belts and accessories market growth.
COVID-19 Impact: Shutdown of Industrial Activities to Hinder Market Growth
Shutdown of industrial activities across the world hampered market growth. Lockdown restrictions and closure of the workforce impacted market growth. Lower demand for the product across numerous industries minimized market progress. Border closure affected import and export activities. These factors affected market growth during the pandemic period.
LATEST TRENDS
"Increase in Awareness About Fall Protection Materials to Surge Market Progress"
Growing awareness regarding the benefits of fall protection materials is anticipated to surge market growth. Rising need for safety and security among workers coupled with an increase in construction and industrial activities are predicted to fuel market growth. High adoption of the product in developing countries and several organizations taking initiatives for the safety of the employees is anticipated to surge market progress. Government regulations and norms about the safety and health of the employees. These factors are expected to fuel market progress in the upcoming years. An increasing number of workplace accidents leads to augmented demand for product adoption. Increase in awareness about protection kit among general workers, including technicians/engineers, office staff, and others, are anticipated to magnify fall protection belts and accessories market performance.
FALL PROTECTION BELTS AND ACCESSORIES MARKET SEGMENTATION
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- By Type
Based on type, the market is divided into self-retracting lifeline, belts, harness, lanyard, and others.
Harness is expected to be the leading part of the segmentation type.
- By Application
Based on the application, the market is divided into telecom, construction, oil & gas, energy & utilities, transportation, mining, and others.
Construction is expected to be the leading part of application segmentation.
DRIVING FACTORS
"Advantages of the Product and Employee Safety to Fuel Market Growth"
Fall protection belts and accessories have several advantages, such as being lightweight, comfortable, and easy to use. The products are made up of flexible materials such as rubber, neoprene, fabric, and foam. It offers better comfort and flexibility to the workforce's executing physical work at a height or distance from the ground. The growth factor for this market is due to growing awareness about team member safety across numerous industries coupled with stringent government regulations regarding workplace safety. These factors are anticipated to propel market growth in the coming years.
"Growing Demand for Harness to Accelerate Market Growth"
An increase in demand for a harness for fall protection is estimated to surge market growth. The product is used by cell tower technicians, roofers, power line workers, and window washers. Further, increase in physical activities such as bungee jumping and rock climbing. These factors are anticipated to propel market growth. The harness increase awareness of safety and consequences among workers working at height. Using protection equipment provides confidence to a wearer and create a peace of mind. The harness protects from sudden slips, which may be dangerous and deadly. It creates comfort among workers and is easy to wear.
In addition, wearing the protection kit helps to increase productivity by omitting the chances of falling and ensuring safety. Such factors are estimated to magnify market growth in the upcoming years. An increase in construction activities and high demand for the product from oil & gas exploration activities are anticipated to fuel fall protection belts and accessories market growth.
RESTRAINING FACTORS
"High Cost and Maintenance of the Protection Kit to Hamper Market Growth"
High cost and frequent maintenance of the product are estimated to hamper market growth.
FALL PROTECTION BELTS AND ACCESSORIES MARKET REGIONAL INSIGHTS
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"Increased in Construction Activities in Asia Pacific to Drive Market Share "
Asia Pacific is anticipated to hold the most significant fall protection belts and accessories market share owing to increasing construction activities in countries such as India, China, Malaysia, Indonesia, and Thailand. Growing awareness about the benefits of fall protection materials in construction, industrial and other workplaces is anticipated to expand market growth. The material ensures safety from falling, and they are lightweight, comfortable, and easy to use. These advantages of the material are projected to drive market growth. Comparatively lower labor cost in the region is anticipated to fuel market progress.
Europe is projected to expand market growth due to high fall protection standards coupled with stringent regulations about safety norms across numerous industries. Increased disposable income is estimated to drive fall protection belts and accessories market progress.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- 3M (U.S.)
- MSA (U.S.)
- Petzl (France)
- Karam (India)
- TRACTEL (Germany)
- SKYLOTEC GmbH (Germany)
- Honeywell (U.S.)
- ABS Safety (U.S.)
- FallTech (U.S.)
- Elk River (U.S.)
- Bergman & Beving (Sweden)
- Irudek 2000 (Spain)
- Guardian (U.K.)
- GEMTOR (U.S.)
- FrenchCreek (U.S.)
- Safe Approach (U.S.)
- Super Anchor Safety (U.S.)
- Sellstrom (U.S.)
- P&P Safety (U.K.)
- CSS Worksafe (U.K.)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 3691 Million in 2021 |
Market Size Value By |
US$ 8199 Million by 2031 |
Growth Rate |
CAGR of 8.2% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
|
By Type
|
|
|
By Application
|
Frequently Asked Questions
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What value is the fall protection belts and accessories market expected to touch by 2031?
The global fall protection belts and accessories market is expected to reach USD 8199 million by 2031.
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What CAGR is the fall protection belts and accessories market expected to exhibit by 2031?
The fall protection belts and accessories market is expected to exhibit a CAGR of 8.2% by 2031.
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Which are the driving factors of the fall protection belts and accessories market?
Drivers of this fall protection belts and accessories market are advantages of the product and employee safety and growing demand for harness.
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Which are the top companies operating in the fall protection belts and accessories market?
3M, MSA, Petzl, Karam, TRACTEL, SKYLOTEC GmbH, Honeywell, ABS Safety, FallTech, Elk River, Bergman & Beving, Irudek 2000, Guardian, GEMTOR, FrenchCreek, Safe Approach, Super Anchor Safety, Sellstrom, P&P Safety, and CSS Worksafe.
