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.
Rapid industrialization across the developed and developing nations is one of the major factors driving the market's expansion. Occupational hazards are growing increasingly prevalent due to the lack of adequate safety procedures at various manufacturing, mining, and other industrial sites. Comparing to other countries, the US is more concerned about the safety and health of its workers, which is driving the adoption of fall protection equipment in the country. To oversee safety norms and procedures, the country has established certain authorities such as Occupational Safety and Health Administration (OSHA) and American National Standards Institute (ANSI). OSHA is a health and safety regulations and compliance organization that gives workers 10-hour and 30-hour awareness training on OSHA regulations and standards relevant to various vocations at the workplace. However, increasing focus on safety practices at work and improving government regulations for workers’ safety in Europe and Asia have driven the market. Rising construction activities and the growing oil & gas sector in Asian countries such as India and China, owing to the rising population, are expected to bolster the market growth during the forecast period. The rise in urbanization and growth in the oil and gas industry are among the key factors supporting the Fall Protection Equipment market growth in the MEA (the Middle East & Africa) and SAM (South America) regions.
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Fall Protection Equipment Market: Strategic Insights
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Fall Protection Equipment Market: Strategic Insights
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Impact of COVID-19 Pandemic on Fall Protection Equipment Market
The COVID-19 outbreak has continued its adverse effects in several countries in 2021 as well. Production plants shutdowns or limited business operations and lockdowns and travel limitations have hampered the production and supply chain of fall protection equipment. The constant demand for fall protection equipment witnessed a slight decrease in 2020, owing to the lockdown imposed by the government and a low number of construction projects. However, in 2021, because of an increase in construction activities, oil & gas exploration, and telecom projects, there is a demand for fall protection equipment to assure employee safety. The e-commerce businesses have also helped in boosting the need for fall protection equipment in the construction sector.
Fall Protection Equipment Market Insights
Rise in Construction Activities
The rise in construction activities around the world is a primary element driving the fall protection equipment market. As Asian countries such as India and China are witnessing significant population growth, the demand for commercial and residential spaces in these countries is constantly expanding. The global economy is currently experiencing a severe slowdown due to a developing credit constraint that is causing economies around the world to miss their developmental ambitions. Infrastructure remains a major priority for addressing developmental gaps in the current scenario, as it is seen as omnipotent and capable of bringing economies out of financial upheaval. Governments all over the world are pumping money into physical and social infrastructure to increase the demand for products and services by creating jobs.
Type-Based Market Insights
Based on type, the fall protection equipment market is segmented into soft goods, hard goods, rescue kits, body belts, full body harness, and others. The hard goods segment is the leading segment as it offers enhanced safety. Moreover, the rising innovation in this segment is supposed to boost market growth. However, the increasing demand for full body harness systems from all industrial users is helping the segment to grow at the highest CAGR.
Application-Based Market Insights
In terms of application, the fall protection equipment market is divided into construction, oil and gas, transportation, energy and utilities, and telecom. To ensure the effective flow of activities and to maintain workers’ safety, each industry requires fall protection equipment in its facilities. In 2020, the construction segment accounted for the largest market share.
The players operating in the fall protection equipment market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In May 2021, Pure Safety Group brought its family of height safety brands—Stronghold by PSG, Ty-Flt, Checkmate, and HART—under the Guardian banner. This expansion has now made Guardian the world’s largest independent fall protection and prevention brand.
- 3M Fall Protection invented and included Suspension Trauma Safety Straps on all ANSI and CSA certified 3M DBI SALA harnesses by the end of March 2021.
Fall Protection Equipment Market Regional Insights
The regional trends and factors influencing the Fall Protection Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fall Protection Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Fall Protection Equipment Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2.93 Billion |
| Market Size by 2028 | US$ 4.61 Billion |
| Global CAGR (2021 - 2028) | 6.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Fall Protection Equipment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fall Protection Equipment Market are:
- 3M
- Falltech
- French Creek Production
- Frontline
- Guardian Fall Protection
Disclaimer: The companies listed above are not ranked in any particular order.
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The global fall protection equipment market has been segmented as mentioned below:
By Type
- Soft Goods
- Hard Goods
- Rescue Kits
- Body Belts
- Full Body Harness
- Others
By Application
- Construction
- Transportation
- Oil and Gas
- Mining
- Energy and Utilities
- Telecom
- Others
By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- 3M
- Falltech
- French Creek Production
- Frontline
- Guardian Fall Protection
- Kee Safety
- KwikSafety
- MSA Safety Incorporated
- Honeywell International Inc.
- Tritech Fall Protection
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
3M; Falltech; French Creek Production; Frontline; Gravitec Systems, Inc.; Guardian Fall (Pure Safety Group, Inc.); Honeywell International Inc; Kwiksafety; Kee Safety, Inc; and Msa are the key companies in the fall protection equipment market.
APAC led the global fall protection equipment market with the highest growth rate in 2020, followed by North America and Europe. In the coming years, the market in Asia would witness a massive growth in demand for fall protection equipment, owing to the rise in population of countries in the region, coupled with various government initiatives to attract private investments in construction and infrastructure development. Moreover, the surging number of commercial and industrial end users is inclined to use fall protection equipment to keep their workers safe from hazards.
The construction segment led the fall protection equipment market globally with a highest market share in the year 2020 and is expected to continue its dominance during the forecast period till 2028. The construction sector is the most common end user of fall prevention systems, as it has the highest annual injury rate. The global construction sector is responsible for more than a third of all workplace deaths each year. Due to a large number of planned building projects, the US is one of the most important countries for safety equipment on construction sites. As mandated by administrations in several states across the US, the use of fall protection systems to reduce the number of accidents and fatalities during building activities is expected to fuel the growth of this market. The US country is one of the major construction industry markets, with a spending worth of ~1.5 trillion in June 2021. Recent advancements in construction technologies and rising demand for worker safety solutions have driven the market growth. However, the shutdown of construction projects and delayed residential projects investments due to the COVID - 19 pandemic has severely impacted the market growth as the demand for fall protection equipment has been lowered.
The fall protection equipment market by product type was led by hard goods which held a market share of 36.8% in the year 2020 and is anticipated to continue its dominance during the forecast period to account for 37.8% share of the fall protection equipment market by the year 2028. The development of hard good (those made from metal or other non-synthetic materials) fall equipment is focused on adaptability and efficiency. Anchors, carabiners, rope grabs, and retractable blocks are examples of hard goods. Anchors are extremely capable of supporting intended weights and assisting in the prevention of falls. The use of hard goods is important in the mining sector since it increases worker flexibility and convenience. The growth of the mining sector in the US is expected to boost the demand for these products. Rope grabs are the ideal alternative for vertical and horizontal lifeline systems used in construction and mining industries because they enable level and inertial locking to prevent the fall. Today's hard goods have various capacities, and they reduce the amount of equipment required at the workplace. Self-retracting lifelines with a built-in rescue system are a newer addition. Depending on the surroundings, these devices, which may be programmed to automatically lower a worker in the event of a fall, can obviate the need for a separate rescue system on site.
With the rising speed and progress of structure and building design, the problems and hazards associated with it are also increasing. To maintain safety requirements, the safety equipment must also be upgraded over time. As a result of changing patterns, governments across the world have revised their fall protection requirements. Current fall prevention equipment has undergone adjustments as a result of the revised standard. The standard mandates that gate strength requirements for snap hooks and carabiners be doubled to 3,600 pounds in all directions of possible loading. The old ANSI standard demanded 220 pounds on the gate's face and 350 pounds on the gate's side, even though many manufacturers were already fulfilling the new standard's criteria when it was approved. To optimize fall arrest, harnesses must now include D-rings in the front and rear, and twin-leg lanyards must be tested before use and have cautions on product labels on how to use them appropriately. As a result, fall protection equipment suppliers will see creating adjustable fall protection equipment as a prime opportunity.
The rise in construction activities around the world is a primary element driving the fall protection equipment market. As Asian countries such as India and China are witnessing significant population growth, the demand for commercial and residential spaces in these countries is constantly expanding. The global economy is currently experiencing a severe slowdown due to a developing credit constraint that is causing economies around the world to miss their developmental ambitions. Infrastructure remains a major priority for addressing developmental gaps in the current scenario, as it is seen as omnipotent and capable of bringing economies out of financial upheaval. Governments all over the world are pumping money into physical and social infrastructure to increase the demand for products and services by creating jobs. During COVID, Construction is more important than ever in this difficult time. The sector has played a crucial role in responding to the crisis and in the recovery, from erecting hospitals in a matter of days to giving lifesaving equipment. The construction industry accounts for 13% of global GDP, and the increasing worker availability could assist recovery while tackling the most pressing issues. Despite challenges in 2020, the oil industry is finally starting to recover. As a consequence, the economy is boosting. The aforementioned factors are expected to fuel the need for fall protection equipment worldwide.
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The List of companies - Fall Protection Equipment Market
- 3M
- Falltech
- French Creek Production
- Frontline
- Guardian Fall Protection
- Kee Safety
- KwikSafety
- MSA Safety Incorporated
- Honeywell International Inc.
- Tritech Fall Protection
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