Global Fall Protection Equipment Market 2019-2023
About this market
Increasing demand for fall protection equipment for recreational activities to drive growth in the market. Construction, industrial, and utility sectors are among the major drivers of the global fall protection equipment market. The use of fall protection equipment in these activities ensures safety and protection of amateurs and professional participants. Technavio’s analysts have predicted that the fall protection equipment market will register a CAGR of almost 6% by 2023.
Increasing demand for fall protection from construction industry
As the global construction sector is one of the largest employers of the workforce, it accounts for the majority of demand of fall protection equipment in the fall protection equipment market.
Fragmentation and price competition in market
The small and regional vendors offer undifferentiated certified products and compete on price rather than value. This leads small vendors to dominate the market in developing countries, which also makes established vendors compete on price in price-sensitive markets.
For the detailed list of factors that will drive and challenge the growth of the fall protection equipment market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including MSA and Petzl the competitive environment is quite intense. Factors such as the rising demand for fall protection from construction industry and the increasing demand for fall protection equipment for recreational activities, will provide considerable growth opportunities to fall protection equipment manufactures. 3M, CRESTO (BERGMAN & BEVING), Honeywell International, MSA, Petzl, and Pure Safety Fall Protection are some of the major companies covered in this report.
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