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PPE market to be worth $58.34 billion by 2022

August 2nd, 2017 / By: / Industry News

A predictive report, “Personal Protective Equipment Market by Type (Hands & Arm Protection, Protective Clothing, Foot & Leg Protection, Respiratory Protection, Head Protection), End-Use Industry (Manufacturing, Construction, Oil & Gas, Healthcare) – Global Forecast to 2022” was recently published by MarketsandMarkets.

According to the report, the market is expected to be valued at $42.67 billion in 2017 and grow at a compound annual growth rate (CAGR) of 6.5 percent from 2017 to 2022, to reach $58.34 billion by 2022.

Predictions for 2017–2022 include:

  • The respiratory protection segment is expected to grow at the highest CAGR, due to government regulations and standards that compel industries to provide respiratory equipment for workers in harsh environments. Increasing demand in healthcare and manufacturing industries is also driving growth.
  • Construction is projected to be the fastest-growing end-use industry segment, mainly due to the rising demand for personal protective equipment for bridge building, residential construction, roadway paving, demolitions and excavations. This segment is expected to grow at the highest CAGR in the Asia Pacific region.
  • Market growth in the Asia Pacific region is attributed to government-driven projects in India, China, Malaysia and other countries. Projects include construction of new airports, sewer systems, and bridges for railways networks.
  • Overall, the Asia Pacific region is expected to witness the highest CAGR. In addition to general economic growth, the increased demand for personal protective equipment by workers in China and India is contributing growth to the market.

MarketsandMarkets provides quantified B2B research on 30,000 high-growth niche opportunities and threats that may have an impact on worldwide companies’ revenues.