Global Fall Protection Equipment Market 2018-2022
About Fall Protection Equipment
Fall protection equipment is used by workers to prevent or arrest falls from an elevated workplace. This equipment is not only used by professionals and construction workers operating at elevated platforms or areas but also by adventure sport enthusiasts during climbing activities. Though the most common implementation of fall protection equipment is when working at heights, these are also used as personal restraint devices while working near edges, such as building edge, pits, or holes. They are also used to restrain the worker from slipping from angled surfaces and slopes.
Technavio’s analysts forecast the global fall protection equipment market to grow at a CAGR of 5.34% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global fall protection equipment market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fall Protection Equipment Market 2018-2022
Technavio recognizes the following companies as the key players in the global fall protection equipment market: 3M, FallTech, Honeywell International, MSA, and Pure Safety.
Other Prominent Vendors in the market are: ABS Safety, Bergman & Beving, Carl Stahl, COFRA, Euro Safe Solutions, FrenchCreek Production, GEMTOR, Gravitec Systems, Irudek 2000, Kee Safety, MSA, Petzl, Sling-Choker Mfg, Sterling Rope Company, Super Anchor Safety, TRACTEL, Werner, and XSPlatforms.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is innovations in fall protection equipment. The global fall protection equipment market has changed significantly during the past two decades due to the changes in regulations and the introduction of new and innovative designs of fall protection equipment.”
According to the report, one driver in the market is rise in global construction activity. Fall protection equipment is most commonly used in the construction industry. Any construction workplace that is on an elevated level requires the use of fall protection equipment for workers. Therefore, the rise in construction activities globally will have a significant impact on the demand for fall protection equipment. The global construction industry witnessed a considerable decline in investments after the US housing bubble collapsed in 2008, leading to global economic recession, due to which the demand for new residential and commercial buildings plummented.
Further, the report states that one challenge in the market is use of non-standard/low quality fall protection equipment. The use of low-quality or non-standard fall protection equipment is expected to pose a significant challenge to the global fall protection equipment market during the forecast period. Low-quality fall protection equipment made of cheap materials, which are generally classified as grey-market products, are available in the market as an alternative to standard fall protection equipment from illegal or unauthorized vendors. Such products that have not been tested for safety or manufactured without the use of common good manufacturing practices pose a threat to the personnel working at heights as well as the genuine fall protection equipment vendors.
3M, FallTech, Honeywell International, MSA, Pure Safety, ABS Safety, Bergman & Beving, Carl Stahl, COFRA, Euro Safe Solutions, FrenchCreek Production, GEMTOR, Gravitec Systems, Irudek 2000, Kee Safety, MSA, Petzl, Sling-Choker Mfg, Sterling Rope Company, Super Anchor Safety, TRACTEL, Werner, and XSPlatforms.