The Fall Protection Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fall Protection Equipment Global Market Report 2024, The fall protection equipment market size has grown strongly in recent years. It will grow from $3.12 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to economic development, risk management strategies, workplace safety regulations, industrialization and construction boom, urbanization and infrastructure projects..
The fall protection equipment market size is expected to see strong growth in the next few years. It will grow to $4.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to expanding market opportunities, emphasis on comfort and usability, shift towards prevention, industry-specific requirements, environmental and sustainability concerns.. Major trends in the forecast period include industry digitization and automation, remote monitoring and management, worker-centric approach, global health and safety standards, sustainability and eco-friendly solutions.
Rising construction and renovation activities are expected to boost the growth of the fall protection equipment market going forward. Construction is the process of building, altering, improving, repairing, remodeling, or demolishing an infrastructure facility. The construction industry in general is struggling with an extensive number of accidents and a high fatality rate. Fall protection and prevention systems are crucial for worker security, particularly in the construction sector. It is the employer’s responsibility to avoid falls in the construction sector. The surge in construction and renovation activities is driving the fall protection equipment market. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the annual construction sector rose by a record 12.7% in 2021 compared to the previous year. In December 2021, the volume of monthly construction output climbed by 2.0%; this was entirely due to a rise in new work (3.5%). In addition to the monthly rise, the construction industry’s quarterly production climbed by 1.0% in Q4 2021 compared to Q3. This increase was driven by both new work (1.1%) and repair and maintenance (0.8%). Therefore, the rising construction and renovation activities are driving the growth of the fall protection equipment market.
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The fall protection equipment market covered in this report is segmented –
1) By Type: Soft Goods, Hard Goods, Rescue Kits, Body Belts, Full Body Harness, Other Types
2) By Product: Anchors And Connectors, Bodywear, Devices, Other Products
3) By End-Use Industry: Construction, Telecom, Energy And Utility, Transportation, Mining, Marine, Other End-Use Industries
Major companies operating in the fall protection equipment market are developing innovative products such as self-retracting lifelines to meet larger customer bases, more sales, and increase revenue. A self-retracting lifeline (SRL) refers to a safety device used in fall protection systems to prevent or arrest falls from heights. For instance, in January 2023, Guardian, a US-based height safety specialist, launched fall protection products consisting of a new customization station, self-retracting lifelines, anchor additions, and the B7 comfort harness. The innovative online tool for product customization and request processing empowers customers to personalize full-body harnesses for workers, incorporating their company’s colors and logo. This customization not only supports branding but also enhances safety, visibility, and control on job sites. Guardian’s self-retracting lifelines (SRLs) surpass forthcoming compliance standards with features such as increased static and dynamic strength, thicker cables, and robust shock packs. Additionally, three new anchor products expand Guardian’s height safety offerings. The B7-Comfort Harness, born from over a year of end-user research and trials, boasts patented features, a heavy-duty industrial design, precision adjustment, breathable padding, and 360-degree hip mobility hardware, making it exceptionally suitable for demanding conditions.
The fall protection equipment market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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