The Hand 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 (2024-2033).
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In accordance with The Business Research Company’s comprehensive analysis in the Hand Protection Equipment Global Market Report 2024, the noteworthy expansion of the hand protection equipment market in recent years is evident. This robust growth trajectory is anticipated to persist, propelling the market size from $32.5 billion in 2024 to a projected $35.3 billion in 2024, showcasing an impressive Compound Annual Growth Rate (CAGR) of 8.6%. The historical upswing is attributed to stringent occupational safety regulations, heightened industrial development, escalating awareness regarding worker safety, the burgeoning healthcare sector, and an increased prevalence of chemical and biological hazards.
Forecasts for the hand protection equipment market predict a robust trajectory, with an anticipated surge to $51.34 billion by 2028, supported by a compelling CAGR of 9.8%. This prospective growth is underpinned by factors such as the adoption of sustainable materials, augmented healthcare expenditure, global supply chain considerations, a focus on remote work safety, and an inclination towards personalized solutions. Key trends expected in the forecast period encompass a heightened demand for disposable gloves, a shift towards ergonomic design, incorporation of advanced materials and technology, the emergence of smart gloves and wearable technology, and an emphasis on personalized fit and sizing.
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 2024, 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.
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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
Top 5 Major Players:
- Top Glove Corporation Bhd
- Hartalega Holdings Berhad
- Honeywell International Inc
- 3M Company
- Alpha Pro Tech Ltd
A pivotal trend gaining traction within the hand protection equipment market is the strategic expansion of production capacities by industry players. Companies are proactively augmenting their production capabilities to meet the surging demand for gloves, particularly from medical clientele. The disruptive impact on supply chains during the COVID-19 pandemic has prompted governments worldwide to invest in bolstering domestic production capabilities for essential products such as medical devices and Personal Protective Equipment (PPE). An illustrative example is the SHOWA Group, a USA-based integrated manufacturer, which significantly tripled its production capacity in response to escalating demand for domestically produced gloves. SHOWA’s new facilities are poised to elevate hand glove production to 1.2 billion units by the close of 2022 and an impressive 2.8 billion units upon the completion of the new facility construction. Similarly, in March 2020, Hartalega, a Malaysia-based company specializing in healthcare practitioner gloves, strategically acquired land to augment its production capacity and meet the escalating global demand for gloves, demonstrating a commitment to gradual expansion.
The hand protection equipment market report table of contents includes:
1. Executive Summary
2. Hand Protection Equipment Market Characteristics
3. Hand Protection Equipment Market Trends And Strategies
4. Hand Protection Equipment Market – Macro Economic Scenario
5. Global Hand Protection Equipment Market Size and Growth
……
31. Global Hand Protection Equipment Market Competitive Benchmarking
32. Global Hand Protection Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hand Protection Equipment Market
34. Hand Protection Equipment Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Hand Protection Equipment Market, Segmentation By Hand Protection, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Hand Protection Equipment Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Hand Protection Equipment Market, Segmentation By End-User Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Top Glove Corporation Bhd Financial Performance
Table 75: Hartalega Holdings Berhad Financial Performance
Table 76: Honeywell International Inc. Financial Performance
Table 77: 3M Company Financial Performance
Table 78: Alpha Pro Tech Ltd. Financial Performance
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