Growing Construction activities and Rising demand for Power in Asia-Pacific is creating huge opportunities for electrical protective equipment market players
According to Goldstein Research, “Rising urbanization and growing safety concerns for workforce working in hazardous environments are the major factors driving the growth of electrical protective equipments market.” Demand for electrical protective equipments is increasing in the industries where employees are majorly prone to exposure of electricity and to protect them from electric hazards such as arc flashes and blasts.
The global electrical protective equipments market is segmented based on products and by end users. Distribution channel is further bifurcated into online and offline channel. In products segment protective apparels accounted for the largest revenue share in the global electrical protective equipments market. Further, the market is anticipated to grow in coming years owing to rising construction activities in developing countries such as China, Brazil, India and UAE.
Based on end users, manufacturing industry accounted for the largest market share of global electrical protective equipments market. Manufacturing industry accounted for the 38% market share of electric protective equipment market and is expected to reach over 42% over the forecast period.
North America is the largest region for electrical protective equipments market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. North America electrical protective equipments market valued USD 6.92 billion in 2016 and is estimated to reach USD 8.9 billion by 2024. United States is expected to dominate the electrical protective equipments market owing presence stringent regulations for the safety of workers in various industries.
Growing power needs in developing countries and rising construction activities: Major impel
Arc blasts are common hazards in power plants which are significantly driving the demand for protective equipments and clothing. With the growing requirement for power coupled with rapid urbanization the market for electrical protective equipments is expected to witness significant growth in coming years. Market players are focusing on innovation and advancement of electrical protective equipments market to provide better safety to workers. For instance, North Star Bluescope Steel, a steel producer for building and construction industries for New Zealand, Australia and North American markets is working with IBM to develop a cognitive platform that taps into IBM Watson Iot technology for wearable safety technology to avoid any mishap with employees working in dangerous environments.
“Global Electrical Protective Equipments Market Outlook 2024” contains detailed overview of the global electrical protective equipments market in terms of market segmentation by product type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Electrical Protective Equipments Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Honeywell International Inc., 3M, MSA, Ansell, Lakeland Industries, National Safety Apparel, DuPont, Ansell, Cintas Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global electrical protective equipments market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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