Fall Protection Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Soft Goods, Hard Goods, Rescue Kits, Body Belts, Full Body Harness, and Others) and Application (Construction, Transportation, Oil & Gas, Mining, Energy and U

Fall Protection Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Soft Goods, Hard Goods, Rescue Kits, Body Belts, Full Body Harness, and Others) and Application (Construction, Transportation, Oil & Gas, Mining, Energy and Utilities, Telecom, and Others)

The fall protection equipment market is expected to grow from US$ 2,934.86 million in 2021 to US$ 4,606.61 million by 2028; it is estimated to grow at a CAGR of 6.4% during 2021-2028.

North America is home to many major market players such as MSA, 3M, Honeywell, Falltech, and Guardian. Many major initiatives have been taken by companies in North America to boost the growth of the fall protection equipment market. Further, the US is worried about the safety and health of its workers, which has prompted the government to embrace fall protection devices. The country has established various authorities to regulate safety norms and procedures, such as the Occupational Safety and Health Administration (OSHA) and the American National Standards Institute (ANSI). OSHA is a health and safety regulations and compliance organization that provides workers with 10-hour and 30-hour awareness training on OSHA regulations and standards that apply to various occupational vocations. North American countries experienced considerable economic loss during the first two quarters of 2020, owing to the high count of COVID-19 cases, particularly in the US. Various restrictions imposed by governments resulted in a decrease in the production performance of manufacturing, construction, metal & mining, and commercial industries, which was a main cause of the economic slowdown.

The fall protection equipment market is segmented into product type and application. Based on product type, the fall protection equipment market is segmented into soft goods, hard goods, rescue kits, body belts, full body harness, and others. The first element of a fall prevention system is the soft goods (those made from webbing, synthetic fibers, and rope), which must be updated regularly. Harnesses, lanyards, and ropes are among the major types of soft goods. These devices are used to connect a fixed and non-stationary object and are often made of rope, cable, or webbing with locking gear. Some safety equipment is used in conjunction with a shock absorber, intended to control deceleration when the rope reaches its end. Improved comfort is a fundamental goal of soft goods development. Increased cushioning and soft materials, as well as lightweight components like aluminum D-rings, are also used. Based on geography, the fall protection equipment market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.

The overall fall protection equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the fall protection equipment market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the fall protection equipment market.

The fall protection equipment market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden their addressable market by expanding their current offerings and diversifying their client base, all the prominent players face high competition, both from start-ups and established companies. The key companies profiled in the fall protection equipment market include 3M; Falltech; French Creek Production; Frontline; Guardian Fall Protection; Kee Safety; KwikSafety; MSA Safety Incorporated; Honeywell International Inc.; and Tritech Fall Protection. Several other players are also functioning in the market worldwide, contributing significant revenue shares year-on-year.

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