The Global Market is projected to be worth $8.48 Billion by the end of 2020 with a CAGR of 6% from 2015-2020. Interest in the Advanced Protective Clothing, Gear and Armour Market has been consistently on the rise in the recent times due to numerous reasons. The primary driving factors of the phenomenal growth of the market is the emphasis being laid to reduce professional hazards and increase safety and protection of the workforce. Recent Governmental Policies and Standards have re-instated the need for accountability in hazardous events or accidents at work sites. This has led corporates and multinationals to take initiatives by introducing Personal Protective Equipment (PPE) and Clothing as part of the industry standard and norm.
The Protective Gear and Armour market is big, complex and fragmented. The current focus is on designing, manufacturing and production, rather than on supplying and distributing. Clearly, the market is yet to reach its optimum potential. The domain of Advanced Protective Clothing and Equipment is predominantly well established in North America, with U.S leading with a market worth of $4.8 billion in 2014. The U.S market for PPE is expected to reach a staggering figure of $5.9 billion in the next five years with a compounded annual growth rate (CAGR) of 4.4%. Interestingly, more than 50% of the Global demand for PPE is specifically from North America.
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