Safety Headgear Market - Global Forecasts Based on End-User and Opportunity Assessment by Technavio
26 April 2017 - 4:03PM
Business Wire
According to the latest market study released by
Technavio, the global safety headgear market is
expected to grow at a CAGR of more than 4% through 2021.
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Technavio has published a new report on
the global safety headgear market from 2017-2021. (Graphic:
Business Wire)
This research report titled ‘Global Safety Headgear Market
2017-2021’ provides an in-depth analysis of the market in terms
of revenue and emerging market trends. This market research report
also includes up to date analysis and forecasts for various market
segments and all geographical regions.
Safety headgears are a prominent component of personal
protective equipment (PPE). These products protect against injuries
to the head of the wearer. Safety headgears are used for protection
from potentially hazardous elements, which range from airborne
flying particles, ballistic threats, and fragments.
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Technavio analysts categorize the global safety headgear market
into four major segments by end-user. They are:
- Military and law enforcement
- Oil and gas
- Construction
- Others
The top three segments based on end-users for the global safety
headgear market are discussed below:
Global safety headgear market for military and law
enforcement
Expenditure on military and defense reflects the economic
stability of a country. The US is a leading country in terms of
defense and military expenditure. In APAC, countries like China are
increasing their defense expenses due to the growth of external
threats. The Government of China is increasing expenditure on newer
technologies.
According to Sarah Haque, a lead power research analyst
from Technavio, “In countries like the UK, defense expense shows a
downward trend due to the importance given to economic goals over
defense and military expenses. The growing number of terrorist
activities across regions will drive demand from law enforcement as
most injuries happen due to mortar shrapnel, fragments from
explosions, and other airborne particles.”
Global safety headgear market for construction
“In developing markets, construction is likely to keep growing
at a much quicker rate when compared with developed markets.
Developing markets accounted for more than half of the global
construction market. Construction businesses in the Middle East and
Africa are expected to grow fast during the forecast period,
providing tough competition to APAC,” says Sarah.
Global safety headgear market for oil and gas
end-users
The oil and gas industry has several occupational hazards, which
necessitate the use of various types of PPE such as safety
headgears. Safety headgears that are designed for the oil and gas
industry protect users against hazards such as molten metal, liquid
chemicals, acids, chemical gasses and vapors, and flying
particles.
In 2014, in Saudi Arabia, the oil and gas industry accounted for
over 75% of the country's budgeted revenue. In the last five years,
it was the fastest growing country among all G20 countries where
the gross domestic product (GDP) was over 4%.
The top vendors highlighted by Technavio’s research analysts in
this report are:
- 3M
- MSA Safety
- BAE Systems
- Honeywell International
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About Technavio
Technavio is a leading global technology research and
advisory company. The company develops over 2000 pieces of research
every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of
bottom-up and top-down approaches, besides using in-house market
modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
stakeholders across the value chain, including vendors, service
providers, distributors, re-sellers, and end-users.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 630 333 9501UK: +44 208 123 1770www.technavio.com