Global PPE Market for Oil and Gas Industry 2017-2021
About PPE for Oil and Gas Industry
The global PPE market for the oil and gas industry is expected to be driven by the stringent and comprehensive safety regulations that enforce employers to provide necessary PPE for workers. The oil and gas industry involves a high number of occupational hazards, thereby creating an increased awareness among employees about PPE. Constant demand for oil and gas from both the developed and developing countries has contributed to a rising number of oil and gas exploration sites. This has a positive impact on the market and drives the market growth. However, low consumer compliance is a challenge to the market. It occurs due to various reasons including comfort, fit, and negligence among workers. This creates an opportunity for vendors to offer PPE with a proper fitting and comfort to the oil and gas industry workers.
Technavio’s analysts forecast the global PPE market for oil and gas industry to grow at a CAGR of 7.72% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global PPE market for oil and gas industry for 2017-2021. To calculate the market size, the report considers the global demand for PPE market from the oil and gas industry
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global PPE Market for Oil and Gas Industry 2017-2021
Technavio recognizes the following companies as the key players in the global PPE market for oil and gas industry: 3M, Honeywell, and MSA
Other Prominent Vendors in the market are: Ansell, CarbonX, Drägerwerk, DuPont, Ergodyne, Magid Gloves, MCR Safety, Moldex, Portwest, Scott Safety, and VersarPPS
Commenting on the report, an analyst from Technavio’s team said: “Continuous improvements in the PPE market are being made in terms of safety, style, comfort, and technology. Technology, in particular, is expected to be the driving force behind the growth of the market. Manufacturers in the market are focusing on introducing integrated PPE with smart features, such as Bluetooth, sensors, and wireless technologies for workers in extreme work conditions. Vendors are also expected to incorporate app-based services for worker protection, equipment replacements, and emergencies that require a quicker response. Such smart solutions also provide timely backups of worker data and enable monitoring the tasks carried out by the workers.”
According to the report, the oil and gas industry is one of the key end-users for PPE because of its highly-associated hazards that can cause occupational injuries and fatalities. This industry involves various tasks, such as drilling, fracking, traveling derrick, heavy lifts, and exposure to chemicals, which can cause various hazards that can be lethal to employees. Therefore, employers ensure a provision of adequate PPE to workers to minimize the associated risks. In addition, workers are increasingly becoming aware of the risks associated with their jobs and the benefits of PPE. This factor has a positive impact on the market in terms of increased consumption of PPE.
Further, the report states that increasing automation and mechanization in the oil and gas industry have a negative impact on the PPE market in terms of lesser manual exposure to work hazards. Equipment used in the oil and gas industry is becoming sophisticated and reliable, which can decrease the production time and thereby increase the efficiency. For instance, automated drilling technology can reduce the drilling time, as well as improve the drilling method, especially for offshore applications. This automated drilling can optimize operations, reduce associated costs, and minimize the workforce exposed to harsh environments. Another area of automation is monitoring of offshore and onshore pipelines. With the increasing threat of oil theft and terrorist attacks, the frequency of monitoring has been increased. This monitoring is done using autonomous underwater vehicles (AUV), which are robotic vehicles that can be used to perform underwater survey missions. Various companies are involved in providing automated solutions across the oil and gas production sector, such as drilling, inspection, monitoring, intervention, and repair. Thus, with increasing mechanization in the oil and gas industry, there will be a negative impact on the PPE for oil and gas industry in terms of lower consumption of products under PPE.
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3M, Honeywell, MSA, Ansell, CarbonX, Drägerwerk, DuPont, Ergodyne, Magid Gloves, MCR Safety, Moldex, Portwest, Scott Safety, and VersarPPS
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