Visibility Protective Clothing Market Driven by Industrial Development & Growing Employment Rate in Developing Economies - New Report by MicroMarket Monitor
Visibility Protective Clothing Market report includes the company profiling, market share analysis, and analysis of competitive strategies adopted by various market players.
The growing industrial development in emerging economies, especially in Asia, the Middle East, and Latin America, pushes the growth of various industries such as manufacturing, mining, and construction. Rapid industrialization leads to an increase in the employment rate in industrial sectors, which, in turn, fuels the demand for protective clothing. Companies are increasingly recognizing that accidents, coupled with heavy fines for deviation of OHS laws and regulatory requirements, cost far more than protective clothing. Regulations also render the employer responsible for workers wearing appropriate personal protective equipment in all operations where there is an exposure to hazardous conditions.
Browse through the market data tables, figures and detailed ToC on the “Visibility Protective Clothing Market”.
European Visibility Protective Clothing Market:
The European visibility protective clothing market is expected to reach $333.0 million by 2018, to grow at a CAGR of 5.5% from 2013 to 2018. The financial crisis of 2008-2009 led countries to adopt a strategy of reduced budget allocation for each of their sectors. Although the growth in region’s various sectors is currently slow, its continuous requirement in the existing facilities such as oil & gas, military, fire fighting, and so on would be driving the market for protective clothing.
North American Visibility Protective Clothing Market:
The North American visibility protective clothing market is expected to reach $423.2 million by 2018, to grow at a CAGR of 30.4% from 2013 to 2018. The North American region is the largest market for protective clothing, which is driven primarily by its oil & gas, healthcare, fire fighting, and improving construction industries. In 2013, North America accounted for 26.3% of the protective clothing market consumption. The oil & gas and construction industries are the major consumers of protective clothing in North America, together contributing to 63% of the North American protective clothing market.
Asia Pacific Visibility Protective Clothing Market:
The Asia-Pacific visibility protective clothing market is expected to reach $291.77 million by 2018, to grow at a CAGR of 7.3% from 2013 to 2018. Asian countries, such as China and India, are becoming the centre for global manufacturing operations, which enhances the need for protective clothing. Increased governmental investments in infrastructure, international funding for developing countries, housing demands to meet the expectations of the steadily growing population, public utilities and development spending, commercial and entertainment structures, and many more reasons like these have resulted in the region having a large construction industry.
Latin American Visibility Protective Clothing Market:
The Latin American visibility protective clothing market is expected to reach $200.0 million by 2018, to grow at a CAGR of 7.6% from 2013 to 2018. Mexico and Brazil are important countries in the region, having high construction and manufacturing activities. Venezuela has high oil & gas activity, thereby resulting in an attractive market for protective clothing. Other countries in the region do not occupy a major share in the global protective clothing market. Argentina and Chile are two other countries that have been studied.
Middle East & African Visibility Protective Clothing Market:
The Middle East & African visibility protective clothing market is expected to reach $188.97 million by 2018, to grow at a CAGR of 7.6% from 2013 to 2018. Middle East and Africa have some of the world’s most prolific oil and gas industries, which have been growing at a rapid pace in the past, and will continue to do so in the future. The rapid growth in infrastructure in the region, especially in countries such as Saudi Arabia and South Africa, has established a huge potential market for protective clothing.
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