The electrical protective equipment market size is projected to reach US$ 17.90 billion by 2031 from US$ 14.01 billion in 2023. The market is expected to register a CAGR of 3.1% in 2023–2031. Expanding construction activities and growing electrical industry projects are likely to remain a key electrical protective equipment market trend.
Electrical Protective Equipment Market Analysis
The electrical protective equipment market is growing at a rapid pace due to stringent regulations for developing high-quality products and expanding manufacturing, construction, oil & gas, healthcare, transportation, and others. The market is expanding steadily, driven by the rising awareness related to safety benefits provided by electrical protective equipment to workers. Moreover, the integration of advanced sensors for developing electrical protective equipment is providing lucrative opportunities for market growth.
Electrical Protective Equipment Market Overview
Electrical protective equipment is safety equipment that is used to protect workers against arc flashes, electrical shock, and other mishaps involving electricity. These equipment include insulated tools, face and eye protection, respiratory protection, protective apparel, head protection, and others used by workers working in hazardous industries such as mining, oil & gas, power generation, manufacturing, and others. Moreover, the integration of advanced sensors for developing electrical protective equipment is creating opportunities in electrical protective equipment during the forecast period.
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Electrical Protective Equipment Market: Strategic Insights
Market Size Value in 12,890.2 Mn in 2019 Market Size Value by 15,658.6 Mn by 2027 Growth rate CAGR of 2.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Electrical Protective Equipment Market: Strategic Insights
| Market Size Value in | 12,890.2 Mn in 2019 |
| Market Size Value by | 15,658.6 Mn by 2027 |
| Growth rate | CAGR of 2.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Electrical Protective Equipment Market Drivers and Opportunities
Stringent Regulations for Developing High-Quality Products is Driving the Market
Stringent rules and regulations imposed by the government on the manufacturing of high-quality electrical protective equipment are driving the market. For instance, The Standards Council of Canada strictly regulates Canadian PPE under the Canadian Electric Code (CDC), ensuring that electrical goods meet applicable safety standards and provide the highest level of worker safety. According to the Ontario Electrical Safety Code, as outlined in Ontario Regulation 777/21, the government of Canada mandated manufacturers and suppliers to obtain the ESA certification mark for their products and follow the required approval process. Thus, stringent certification rules that promote high product quality are boosting electrical protective equipment market growth.
Integration of Advanced Sensors for Developing Electrical Protective Equipment – An Opportunity in the Electrical Protective Equipment Market
Electrical protection equipment is becoming increasingly advanced due to the integration of advanced sensors. For instance, gloves are integrated with sensors to monitor voltage levels and alert workers of potential hazards. Heat sensors fitted inside arc flash costumes can activate automatic cooling devices to prevent overheating. Thus, rapid technological advancements are expected to drive innovation in electrical protective equipment market during the forecast period. Moreover, intelligent personal protection equipment is becoming highly popular among users owing to the growing use of data and technology to increase worker safety and situational awareness. This reduces risk and may improve workers' reaction times in emergencies.
Electrical Protective Equipment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the electrical protective equipment market analysis are product and end user.
- Based on Product, the electrical protective equipment market is divided into insulated tools, face and eye protection, respiratory protection, protective apparels, head protection, and others. The face and eye protection segment held a larger market share in 2023.
- On the basis of end user, the market is segmented into manufacturing, construction, oil & gas, healthcare, transportation, and others. The manufacturing segment held the largest share of the market in 2023.
Electrical Protective Equipment Market Share Analysis by Geography
The geographic scope of the electrical protective equipment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest electrical protective equipment market share, due to the presence of a large amount of risks in the oil and gas industry. The industry faces numerous risks, such as explosion, arc flash, and electric shock caused by low-voltage motors, medium-voltage equipment, and distribution boards, which increases the demand for electrical protective equipment among workers for protection. Moreover, growing power transmission lines and the expanding power generation industry are creating significant growth opportunities in the market in the near future.
Electrical Protective Equipment Market Report Scope
Electrical Protective Equipment Market News and Recent Developments
The electrical protective equipment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for electrical protective equipment and strategies:
- Safe Arc Solutions Limited is planning to publish the National Fire Prevention Association (NFPA) 2024 edition of their Standard in May 2024. NFPA includes a standard for electrical safety in the workplace known as NFPA 70E. (Source: Safe Arc Solutions Limited, Press Release, 2022)
Electrical Protective Equipment Market Report Coverage and Deliverables
The “Electrical Protective Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; End User
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
The global electrical protective equipment market was estimated to be US$ 14.01 billion in 2023 and is expected to grow at a CAGR of 3.1% during the forecast period 2023 - 2031.
Stringent regulations for developing high-quality products and expanding manufacturing, construction, oil & gas, healthcare, transportation, and others are the major factors that propel the global electrical protective equipment market.
Expanding construction activities and growing electrical industry projects are anticipated to play a significant role in the global electrical protective equipment market in the coming years.
The key players holding majority shares in the global electrical protective equipment market are 3M, ALPHA PRO TECH, LTD, Ansell Limited, Cintas Corporation, and Delta Plus Group.
The global electrical protective equipment market is expected to reach US$ 17.90 billion by 2031.
The incremental growth expected to be recorded for the global electrical protective equipment market during the forecast period is US$ 3.89 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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