The global respiratory protective equipment market size is expected to reach USD 9.96 billion by 2025
NEW YORK, June 11, 2019
NEW YORK, June 11, 2019 /PRNewswire/ -- Respiratory Protective Equipment (RPE) Market Size, Share & Trend Analysis Report By Product (APR, SAR), By End Use (Oil & Gas, Industrial, Mining, Construction), By Region, And Segment Forecasts, 2019 - 2025
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The global respiratory protective equipment market size is expected to reach USD 9.96 billion by 2025 It is anticipated to register a CAGR of 7.0% during the forecast period. Rising occupational safety regulations for ensuring worker safety is expected to boost the product demand.
Increasing demand for multi-purpose RPE such as respirators with in-built gas detectors is expected to drive R&D in developing efficient and durable respirators for preventing the spreading of biological hazards. Rising proactive measures taken by several associations such as ANSI, ASTM, and ISO is anticipated to have a positive impact on the market growth.
Rising concerns regarding biological diseases coupled with exposure to toxic and radioactive air pollutants is anticipated to augment the product demand over the forecast period. In addition, an increasing number of illness cases in mining and chemical industries owing to the prolonged exposure to polluted air is likely to drive growth of the RPE market.
Surging demand for multi-utility RPE coupled with technological advancements is expected to offer ample opportunities for market expansion over the forecast period. Major players such as 3M and Honeywell International are focused on developing RPE at economies of scale to strengthen their market share.
Further key findings from the report suggest:
• Powered air-purifying respirator accounted for 48.0% of the APR revenue share in 2018 on account of its rising demand for employee protection against vapors and toxic gases in oil and gas, petrochemical, and mining industries
• Industrial application segment is expected to register a CAGR of 7.3% from 2019 to 2025 in terms of revenue owing to increasing automotive and metal fabrication industries in the emerging economies such as India, China, and Brazil
• Demand from oil and gas industry is expected to reach USD 1.75 billion by 2025 on account of the presence of a considerable number of respiratory hazards such as exposure to silica and hydrogen sulfide coupled with rising awareness regarding employee safety
• Product consumption in North America is anticipated to reach USD 3.88 billion by 2025 owing to the presence of stringent norms regarding occupational health and safety by regulatory bodies such as OSHA, CSA, and ANSI
• Major players in the Respiratory Protective Equipment (RPE) market focus on integration across the value chain, especially from component manufacturing to product distribution, which is expected to aid the companies obtain a competitive edge
Read the full report: https://www.reportlinker.com/p05763785/?utm_source=PRN
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