Safety Nets Marked as Fastest Growing Segment in Global Fall Protection Equipment Market in Rescue

The prime requirement of fall protection equipment is to prevent damage to individuals from free fall. The global fall protection equipment market in rescue provides mechanisms that restrain an individual in a particular position, so that they can prevent toppling over. The key users of the global fall protection equipment market in rescue include companies that operate in rescue and government usage, oil and gas, power, and construction. All of them use the various safety equipment comprising the fall protection equipment market, such as self-retracting lifelines, vertical lifelines, and horizontal lifelines.

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One of the key trends in the global fall protection equipment market in rescue is the expansion of key players in emerging economies. The market is no longer held by prime developed nations in North America and Europe. Nations from the Middle East, Africa, and Asia Pacific, particularly  China, India, South Africa, and Japan, currently account for higher growth rates in demand from the global fall protection equipment market in rescue, even though North America and Europe are currently the dominant regional markets in the global fall protection equipment market in rescue. Their lead is expected to continue till 2020. On the other hand, key players are becoming increasingly aware of the huge untapped markets in Asia Pacific, Latin America, the Middle East, and Africa. Most of these regions are showing high rates of industrialization, which have improved construction activities, which is one of the key users of safety equipment.

 

 

The International Labour Organization (ILO) has recently formulated a large number of restrictions for the safety of workers that have to perform in precarious conditions. The ILO also takes regulatory actions against those found guilty of neglecting the prescribed safety norms. This is currently the greatest driver for the global fall protection equipment market in rescue. Simultaneously, companies have begun paying more attention to workplace safety in an effort to improve working conditions for their employees. The global fall protection equipment market in rescue is also stimulated by the increasing size of emergency rescue services and fleets in Asia Pacific, Latin America, and Africa.

 

 

Full body harnesses find an increased scope of use in both protective as well as rescue purposes.  Full body harnesses provide superior support and improved suspension abilities in comparison to other types of fall protection equipment. Other gear making up the global fall protection equipment market in rescue includes body belts, safety nets, suspension belts, and chest harnesses. Of these, safety nets are the fastest growing type of equipment used to prevent free fall in large structures. The safety net segment is currently expected to grow at a CAGR of 9.6% from 2014 to 2020.

 

Key players that operate in the global fall protection equipment market in rescue include Uvex Safety Group, Rock Fall Ltd., Honeywell Safety Products, Oftenrich Holdings Ltd., Cofra Holdings AG, Avon Rubber Plc, and 3M Co.

 

The global fall protection equipment market in rescue is currently growing at a CAGR of 9.0% from 2014 to 2020. The market’s 2013 value was US$1,952.7 million. Should the CAGR hold, the global fall protection equipment market in rescue will eventually reach an overall worth of US$3,556.2 million by the end of 2020. With all the determinant factors in market dynamics in view, the healthy growth projection for the market at the estimated pace can be arrived at with relative ease. As safety standards increase, so does the quantity and sophistication of the gear and technology used to maintain it, thereby promoting a sustainable market growth.

 

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