Insulating Gloves Market Size, Share, Growth, and Industry Growth, By Type (Low Voltage, Medium Voltage, and High Voltage), By Application (Electrical and Electronics, Automotive, Public Utilities, Communication, and Others), Regional Forecast To 2031

Updated On: 20 November 2023

Insulating Gloves Market REPORT OVERVIEW

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The global insulating gloves market size was USD 334.9 million in 2022 and is projected to touch USD 502.07 million by 2031, exhibiting a CAGR of 4.6% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Insulating gloves are a personal hand of protection for the workers against electrical shocks when they work on live wires and near the cables of wires. It is made up of rubber which eliminates the risk of getting burnt and electrical shocks. These gloves are categorized based on their voltage capacity. These gloves are specially made for the safety of workers that works on live wires and cables. Wearing these gloves ensures the safety of the workers. 

Insulating gloves can also be known as protective gloves, ascribed to their safety features that save the worker from getting electric shocks, cuts, infection, and burns on their hands. The rising concern for the worker's safety is forecasted to surge growth in the global market. These gloves are categorized into low voltage, medium voltage, and high voltage types. These types are decided on the voltage capacity that the gloves can resist. These gloves are now being rapidly adopted by electrical and electronics, automotive, public utilities, and other industries to avoid any casualty. 

Covid-19 Impact: Higher Demand and Low Supply Affected Market

The outbreak of COVID-19 affected the global economy, including transportation, oil & chemicals, and the automotive market. Unlike these markets, the market witnessed a slight effect ascribed to the rising demand for gloves from the healthcare industry. The demand for gloves was high during the pandemic, but the manufacturing industries were shut down, which affected the market's growth rate. The population migrated back to their ho0metowns due to income loss which affected the market growth. Additionally, the lifting of restrictions is expected to recover the pandemic loss in the coming years. 

LATEST TRENDS

"Rising Demand for Efficient Gloves to Drive Market Trend"

Rising demand for insulating gloves with convenience and better grip is expected to propel insulating gloves market growth. These gloves ensure higher safety and can be used for industrial work. Expanding the number of workers in the construction sector and rising fatalities globally are likely to surge growth in the market. Construction industry workers' hands are generally exposed to hazards on-site, which may harm them. Thus, the construction industry is promoting market growth. The rising number of workers and accidents at the workspace is forecasted to drive market trend.

Insulating Gloves Market Segmentation

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• By Type Analysis

By type, the market is segmented into the segment by type, low voltage, medium voltage, and high voltage.

The market is expected to be dominated by medium voltage gloves due to their application in various industries. This segment is the largest and holds a market share of more than 55%.

• By Application Analysis

Based on application, the market is classified into electrical and electronics, automotive, public utilities, communication, and others. 

Automotive industries are forecasted to dominate the application segment as automotive is rapidly expanding, and this industry is rapidly adopting insulating gloves. 

DRIVING FACTORS

"Increasing Safety Concerns to Propel Product Demand"

Consistently rising awareness about hygiene and safety at workplaces is anticipated to bolster the product demand. The strict government rules and regulations for workers' safety and increasing industrialization is forecasted to boost the product demand in the global market. Various industries adopt insulating gloves to avoid casualty in the workspace or on-site. Thus, the market is expected to grow to the significance of these factors. Furthermore, rising industrialization and consistent rise in the demand for safety gloves is forecasted to boost market growth.

"Workplace Safety Rules to Magnify Market Growth"

Rising growth in oil & gas, manufacturing, healthcare, and food processing industries are forecasted to propel market growth ascribed to the increasing working population. Workplaces are becoming highly advanced but still pose a high risk of accidents which is foreseeable to expanding the market share. Oil & gas, chemicals, and automotive industries possess a higher risk of accidents ascribed to flammable substances, which is likely to boost growth in the market. Strict government regulations for the worker’s safety are anticipated to be a growth factor.

RESTRAINING FACTORS

"Skin Allergies Due to Continuous Use of Gloves to Retard Growth"

Insulating gloves consist of latex, and continuous use of latex gloves may result in swelling of hands, low blood pressure, loss of consciousness, vomiting, itchy skin, and others. These symptoms are noticeable after frequent use of these gloves and may cause harm to the worker wearing the latex gloves. The workers are at a higher risk of developing serious allergic infections, and thus, it is expected to impede the market growth.

Insulating Gloves Market REGIONAL INSIGHTS

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"Increasing Demand from Various Applications to Foster Growth in Asia Pacific"

Asia Pacific is estimated to hold the major contribution in expanding insulating gloves market share due to higher production and usage of these gloves in various industries such as manufacturing, healthcare, oil & gas, transportation, and food & beverages industries. The region is forecasted to share more than 30% of the global market. Additionally, stringent government rules on industrial safety are forecasted to encourage market growth. 

North America is forecasted to show sizeable growth due to rising awareness about safety and regulations that make protective gloves mandatory in various industries. These factors are forecasted to surge growth in the regional market. 

KEY INDUSTRY PLAYERS

"New Product Development to Escalate the Market Growth"

Key manufacturers are focused on constantly upgrading their product portfolio by launching advanced and customized features to differentiate their products from other companies' products. Competitors also emphasize sustaining the market of heavy competition.  The key competitors are making various analytical approaches. Major players also emphasize boosting their presence through investments, partnerships, agreements, joint ventures, expansions & investments, and partnerships. The emergence of advanced products is expected to increase product demand and support the growth of insulating gloves.  

List of Market Players Profiled

• Honeywell Safety (U.S.)
• Ansell (U.S.)
• GB Industries (India)
• YOTSUGI CO., LTD. (Japan)
• Regeltex (France)
• Secura B.C. (Poland)
• Boddingtons Electrical (U.K.)
• Hubbell Power Systems (U.S.)
• Biname Electroglove (China)
• Stanco Safety Products (U.S.)
• Derancourt (France)
• Protective Industrial Products (PIP) (U.S.)
• Dipped Products PLC (DPL) (Sri Lanka)
• Cementex Products (U.S.)
• Magid Glove & Safety (U.S.)
• Saf-T-Gard (U.S.)

REPORT COVERAGE

The report covers the global market information on insulating gloves. It also includes the segmentation of the market based on type and application. The report's objective is to offer market insights, including significant trends, opportunities, and challenges. The report also covers various distribution channels with the regional analysis. The regional analysis section represents the dominating region of the market.

Additionally, the key market players and their headquarters are covered in this report to give a brief idea about the existing competition. Furthermore, the factors expected to drive or restrain the market are also included in this report. It is an all-inclusive market insight report.