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The hand protection equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hand Protection Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hand protection equipment market size has grown strongly in recent years. It will grow from $32.5 billion in 2023 to $35.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to occupational safety regulations, increased industrial growth, worker safety awareness, growth of the healthcare sector, increased chemical and biological hazards.
The hand protection equipment market size is expected to see strong growth in the next few years. It will grow to $51.34 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to sustainable materials, increasing healthcare spending, global supply chain considerations, remote work safety, customized solutions. Major trends in the forecast period include increased demand for disposable gloves, ergonomic design, advanced materials and technology, smart gloves and wearable technology, personalized fit and sizing.
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Scope Of Hand Protection Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hand Protection Equipment Market Overview
Market Drivers –
The increasing awareness about the safety and health measures are propelling the growth of the hand protection equipment market. The proper use of safety measures prevents and reduces the variety of health, hands, and arms hazards that are exposed during the operational work. The stringent company policy and government regulation towards the safety and health of employees are safeguarded to eliminate workplace risks at the source, through technical or organizational means. For instance, in July 2023, according to National Irish Safety Organisation (NISO), an Ireland-based voluntary body dedicated to the promotion of health and safety, launched has launched a free short on-line course, on chemical safety in the workplace on its e-learning. This e-learning is launched guided by Health and Safety Authority (HSA). The training is designed for workers, managers, and safety advocates in any industry that uses chemicals. The 30-minute introductory lectures will provide learners with a short, free, and important primer on detecting and handling hazardous substances in the workplace. Therefore, the increasing awareness about safety and health measures is driving the growth of hand protection equipment.
Market Trends –
Expansion of production capacities is a key trend gaining popularity in the hand protection equipment market. Companies are expanding their production to fulfil the sudden upsurge in demand for gloves from medical customers. Additionally, supply chain disruption during the COVID-19 pandemic has forced governments across the globe to build sufficient domestic production capabilities for emergency products such as medical devices, PPE, and others. For instance, in February 2022, SHOWA Group, a USA-based fully integrated manufacturer of medical and industrial PPE hand protection tripled its production capacity to meet the growing demand for made-in-America gloves from both government and industrial customers. The two new production facilities of the company are expected to increase company production of hand gloves to 1.2 billion units by the end of 2022 and 2.8 billion by the end of new facility construction. In March 2020, Hartalega, a Malaysia-based company specializing in making gloves for healthcare practitioners, purchased 38.49 hectares of land in Sepang. The acquisition would allow the company to increase its capacity to satisfy expanding global glove demand gradually.
The hand protection equipment market covered in this report is segmented –
1) By Hand Protection: Durable Gloves, Disposable Gloves
2) By Material Type: Natural Rubber Gloves/Latex, Nitrile Gloves, Vinyl Gloves, Other Material Types
3) By End-User Industry: Healthcare, Industrial Safety & Chemical, Construction, Automotive, Other End-Users
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Regional Insights –
North America was the largest region in the hand protection equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hand protection equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the hand protection equipment market include Top Glove Corporation Bhd, Hartalega Holdings Berhad, Honeywell International Inc., 3M Company, Alpha Pro Tech Ltd., Halyard Health Inc., Medline Industries Inc., Cardinal Health Inc., Kossan Rubber Industries Bhd, Globus Ltd., Ansell Limited, E. I. du Pont de Nemours and Company, Mallcom Limited, MSA Safety Incorporated, Radians Inc., Rock Fall Ltd., Kimberly-Clark Corporation, Lakeland Industries Inc., Delta Plus Group, Protective Industrial Products Inc., Showa Group, Towa Corporation, Bata Shoe Company Pvt. Ltd., COFRA Holding AG, Ejendals AB, Rubberex Corporation (M) Berhad, Jallatte Group, Joseph Leslie & Co. LLP, MCR Safety, Atlantic Safety Products Inc.
Table of Contents
1. Executive Summary
2. Hand Protection Equipment Market Report Structure
3. Hand Protection Equipment Market Trends And Strategies
4. Hand Protection Equipment Market – Macro Economic Scenario
5. Hand Protection Equipment Market Size And Growth
…..
27. Hand Protection Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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