The Global Fall Protection Market size is expected to reach USD 4.86 Billion in 2028 and register a CAGR of 7.9% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are increasing preference for recreational activities such as rock climbing, ice climbing, zip-lining, bungee jumping, and mountaineering. In addition, rising number of on-site training programs, presence of strict regulations governing workers’ safety, and surging need to reduce incidents of workplace injuries are factors expected to boost market revenue growth. Moreover, ongoing development of construction and mining industries across the globe is expected to boost market revenue growth.
On-body and off-body products are two main types of fall protection equipment. Body belts, safety nets, connecting devices, and suspension belts a few examples of on-body fall protection equipment. This type of equipment is usually worn on or attached to the worker’s body to prevent falls. Fall protection equipment is widely used in different end-use industries such as construction, telecom, mining, transportation, and energy & utility.
Based on regional analysis, North America is expected to register significantly fast revenue growth rate over the forecast period. Governments of developed countries such as the United States and Canada have implemented strict regulations to mandate applications of fall protection equipment in different industries. Also, rising concerns regarding safety of workers is expected to boost market growth in this region over the forthcoming years.
Moreover, Europe accounted for the second-largest revenue share in global market in 2020. Rapid development of utilities, transportation, and telecom sectors, as well as increasing number of construction projects expected to drive revenue growth of the market in this region during the forecast period.
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Players profiled in the global market report include 3M Company, Honeywell International Inc., MSA Safety Inc., Werner Co., GF Protection Inc., SKYLOTEC GmbH, W.W. Grainger, Inc., Total Access, Kee Safety, Inc., and FallTech.
Some Key Highlights from the Report:
- In July 2020, McNetiq launched a new range of products focusing on magnetic anchors for fall protection. These can be used when working at great heights. Magnetic anchors are also sustainable as these temporary anchor points do not require welding. In the event of a potential fall hazard of two meters and more, usage of personal fall protection is mandatory in many parts of the world. Mc Netiq designed these anchors for application in many areas such as work on cranes & windmills, unloading & loading work on ship decks, shipbuilding & maintenance, and construction & demolition work on drilling platforms.
- Construction segment is expected to register a faster revenue CAGR throughout the forecast period. Ongoing development of the construction sector in emerging countries, rising awareness regarding safety of workers, and high demand for fall protection equipment in the construction industry are set to drive growth of this segment.
- Access system segment accounted for the largest revenue share in global market in 2020. Rising use of access system while working in confined spaces is likely to drive growth of this segment in the upcoming years.
- Asia Pacific accounted for a 25.2% revenue share in the global market in 2020 and is expected to expand at a faster revenue CAGR over the forecast period. Increasing technological advancements, growing population, and rapid industrialization are expected to drive revenue growth of the market in this region.
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For the purpose of this report, Reports and Data has segmented the global fall protection market on the basis of type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Soft Goods
- Hard Goods
- Rope Grab
- Manual Fall Arrester
- Fall Arrester
- Anchors
- Retractable Blocks
- Karabiners
- Installed System
- Rescue Kit
- Access System
- Aerial Lifts
- Manually Propelled Elevating Work Platforms
- Vehicle-Mounted Elevating and Rotating Lifts
- Boom-Supported Elevating Work Platforms
- Self-Propelled Elevating Work Platforms
- Scissor Lifts & Others
- Services
- Training
- Assembly and Disassembly
- Inspection
- Maintenance
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Construction
- General Industry
- Oil & Gas
- Energy & Utilities
- Telecom
- Transportation
- Mining
- Others
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Major Benefits of Global Fall Protection Market Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8 year forecast and assessment of the Global Fall Protection Market
- SWOT analysis and Porter’s Five Forces analysis to offer accurate insights
- Complete coverage of key technological developments, market trends, and product developments
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