Fall Protection System Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Fall Protection System Market Size accounted for USD 2,895 Million in 2021 and is estimated to achieve a market size of USD 5,268 Million by 2030 growing at a CAGR of 7.1% from 2022 to 2030. Rapid industrialization, combined with a growing construction industry around the world, is one of the primary reasons driving the fall protection system market growth. Furthermore, the growing need to minimize workplace injuries and illnesses instances, the presence of stringent regulations governing worker safety, the development of the mining and construction industries, and the growing amount of on-site training programs are expected to drive the fall protection system market value over the forecast period.

Fall Protection System Market Report Key Highlights

• Global fall protection system market revenue is estimated to expand by USD 5,268 million by 2030, with a 7.1% CAGR from 2022 to 2030.
• North America fall protection system market share accounted for over 29.7% shares in 2021
• Asia-Pacific fall protection system market growth will monitor fastest CAGR from 2022 to 2030
• Based on type, soft goods segment accounted for over 30% of the overall market share in 2021
• Among end-user, construction sector engaged more than 36.9% of the total market share
• Raising concerns about health and safety at work, drives the fall protection system market size

A fall protection system is a kind of defensive system utilized in different end-use sectors to protect workers from occupational wounds when working from statures. The ergonomically structured fall protection system plays a noteworthy role in keeping away from redundant pressure wounds and dispensing with pressure wounds related to the abuse of muscles. Full body harnesses, safety nets, chest harnesses, suspension belts, and body belts are the distinctive fall protection systems. Among these, full body harness is extremely preferred due to increased support and is commonly used in rescue operations. Fall protection systems are utilized in different end-use environments, for example, development, transportation, mining, vitality and utility, and telecom and other modern sectors. Among these, fall protection hardware is broadly utilized in the energy and utility division owing to huge demand.

Global Fall Protection System Market Dynamics

Market Drivers

• Increasing demand from the construction industry
• Raising concerns about health and safety at work
• Strict government rules governing worker safety

Market Restraints

• Increasing automation in a variety of industries
• Lack of product knowledge

Market Opportunities

• Increasing workplace injuries and incidents
• Increasing on-site training in a variety of industries

Fall Protection System Market Report Coverage

Strict and safety policies from government associations with respect to the security of laborers are foreseen to be a factor that offers traction to the development of the fall protection market size over the forecasting timeframe. The expanding request for fall safety equipment, for example, body belts, suspension belts, body harnesses, body bridles, safety nets, and fall protection systems from mining, construction, and energy and utility area is anticipated to help the development of fall protection equipment market growth over the forecasting phase. Moreover, stringent and exhaustive security directions from different government associations to guarantee laborer safety will additionally drive the fall insurance hardware showcase over the estimated time frame.

Besides, rising worries about overall security, developing armada size of emergency service, and expanding administrative commands in the work environment will likewise add development to the fall protection system market through the forecasting time frame. Low-quality and modest items are foreseen to be a factor that hampers the growth of the fall protection market size. In addition, lack of interest from emerging nations is attributed to the absence of awareness and utilization of sub-standard items will likewise go about as a controlling component for the development of the fall protection equipment market revenue. Besides, non-compliance with benchmarks and direction by the players in the industrial sector is a key challenge faced by manufacturers. This factor is likewise foreseen to impede the development of the fall protection system market. Moreover, as indicated by the Bureau of Labor Statistics Census announced fatal occupational wounds, which were roughly 5,000 in 2017. According to OSHA, general industry occurrences include slips, treks, and falls which cause about 15% of every single unplanned demise and consequently expand the fatality rate, which may help to increase the global fall protection market revenue.

Fall Protection System Market Segmentation

The worldwide fall protection system market segmentation is based on the type, end-use, and geography.

Fall Protection System Market By Type

• Soft Goods
• Hard Goods
• Full Body Harness
• Body Belts
• Rescue Kits
• Others

According to the fall protection system industry analysis, the soft goods category is predicted to have considerable market shares in 2021. The market for soft goods is expected to rise as offshore and onshore drilling developments have increased, as does shale energy production and worldwide construction activity. This is expected to increase demand for these items, which protect employees from occupational dangers.

Fall Protection System Market By End-Use

• Construction
• Chemicals
• Manufacturing
• Pharmaceuticals
• Oil & Gas
• Transportation
• Food
• Healthcare
• Mining
• Others

According to the fall protection system market forecast, the oil and gas segment is expected to increase at a rapid pace over the forecast period. The Association of Petroleum Exporting Countries deals, the increase in popularity of fossil fuels, and a major shale oil discovery are all contributing to this development. Additionally, fast technological improvements in the oil and gas industry are likely to drive global demand for fall protection products throughout the projection period.

Fall Protection System Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)