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
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
Fall Protection System Market Report Coverage
|Market||Fall Protection System Market|
|Fall Protection System Market Size 2021||USD 2,895 Million|
|Fall Protection System Market Forecast 2030||USD 5,268 Million|
|Fall Protection System Market CAGR During 2022 - 2030||7.1%|
|Fall Protection System Market Analysis Period||2018 - 2030|
|Fall Protection System Market Base Year||2021|
|Fall Protection System Market Forecast Data||2022 - 2030|
|Segments Covered||By Type, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||UltraSafe, Petzl, Eurosafe Solutions, Yates Gear, ABS Safety GmbH, P&P Safety, Guardian Fall Protection, 3M Fall Protection, CMC RESCUE, Honeywell Safety Products, JSP Ltd., and Buckingham.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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
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
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
The Middle East & Africa
North America Region Is Expected To Dominate The Global Fall Protection System Market
North America is predicted to dominate the market and hold a considerable revenue share in the coming years. The United States and Canada are the region's largest revenue consumers in this industry. The market throughout this region is expanding due to increased worker security concerns, early acceptance of cutting-edge technologies, and the existence of stringent legislation requiring the utilization of fall protection systems in numerous industries including construction, oil and gas, industrial, and others.
Fall Protection System Market Players
Some of the top fall protection system market companies offered in the professional report include UltraSafe, Petzl, Eurosafe Solutions, Yates Gear, ABS Safety GmbH, P&P Safety, Guardian Fall Protection, 3M Fall Protection, CMC RESCUE, Honeywell Safety Products, JSP Ltd., and Buckingham.
The estimated value of global fall protection system market in 2021 was accounted to be USD 2,895 Million.
The projected CAGR fall protection system market during the analysis period of 2022 to 2030 is 7.1%.
The prominent players of the global fall protection system market are UltraSafe, Petzl, Eurosafe Solutions, Yates Gear, ABS Safety GmbH, P&P Safety, Guardian Fall Protection, 3M Fall Protection, CMC RESCUE, Honeywell Safety Products, JSP Ltd., and Buckingham.
North America held the dominating fall protection system during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for fall protection system during the analysis period of 2022 to 2030.
Increasing demand from the construction industry and raising concerns about health and safety at work drives the growth of global fall protection system market.
Based on end-use, construction segment is expected to hold the maximum share of the fall protection system market.