New York, NY -- (SBWIRE) -- 02/11/2021 -- Increasing risks of contracting workplace hazards due to rapid industrialization and the growing need for protective equipment in the healthcare sector are the drivers for the growth of the market.

Market Size – USD 17.70 Billion in 2019, Market Growth - CAGR of 11.1%, Market Trends – High demand from North American and European Markets. Advanced protective gear and armor are safety equipment used on the border and for the protection against potential threats. It has its applications in oil and gas, industrial, healthcare, and construction segments for protection and safety measures for people. The market is estimated to witness significant market growth during the forecast period.

The market for advanced protective gear and armor is expected to grow steadily around the world due to the high frequency of terrorist activities and related geopolitical events. Although protective equipment remains an integral part of the defense industry, it is not reflected in expenditure, and only a small amount is allocated for the purchase of protective equipment. The emphasis on mobility and comfort has been a widely accepted trend in various manufacturing silos, as ease of mobility is very critical in intense situations. The development of wearable technology is also forecasted to stimulate industry demand for advanced protective equipment that is integrated with sensors and other assistive technologies, which can help monitor any signal of life threat and other information to report the employee's security status.

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Key participants include 3M, Kimberly-Clark Corporation, Alpha Pro Tech Ltd., Uvex Safety, AE System PLC, Arco Ltd., Mine Safety Appliances Company (MSA Safety), Ballistic Armor, Alliant Techsystems Inc., and Bolle Safety, among others.

Market Drivers

The market is propelled due to stringent rules and regulations pertaining to the safety of the environment a person is working in, and also increasing concerns for the safety of employees working in the industry. The market growth is driven by the rapid industrialization in developing and developed nations and their increased demand for industrial protective equipment products. The market is expanding due to applications, such as smelting, welding, crude oil refining, operating furnaces, and operations that are prone to biological and chemical hazards.  The demand for advanced gears and armors is growing due to the technological advancements in external and internal security threats, industrial areas, modernization, territorial disputes, and shortage of available gears and the armors. 

Further key findings from the report suggest

- The industrial segment is responsible for the majority of the market growth and is expected to grow at a significant rate. Healthcare is the fastest-growing segment and is likely to generate massive sales because of the COVID-19 pandemic.

- Major industrial applications lead the workforce to expose to hazardous chemicals that can prove to be fatal. Due to this, protective gear and armor of chemical types capture a large share of the market. Huge expenditure in defense from countries around the world has led to the growth of ballistic protective equipment.

- Growing industrialization in emerging economies and the presence of industry leaders in developed countries have been the market driving forces.

- Asia-Pacific is the fastest-growing market. The region is expected to achieve the highest CAGR with China, Japan, and India, leading the growth over the forecast period. North America dominates the market because of substantial defense expenditure. Along with Europe, it leads to healthcare expenditure across the globe.

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Type Outlook (Revenue, USD Billion; 2017-2027)
- Thermal
- Chemical
- Ballistic

Usage Outlook (Revenue, USD Billion; 2017-2027)
- Industrial
- Personal

Product Outlook (Revenue, USD Billion; 2017-2027)
- Foot Protection
- Eye and Face Protection
- Fall Protection
- Hearing Protection
- Hand Protection
- Respiratory Protection
- Gas Detection
- Protective Apparel

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Oil and Gas
- Industrial
- Healthcare
- Construction

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Regional Analysis

On the basis of region, the Asia Pacific region held the largest market share in terms of volume and value and is estimated to witness significant growth during the forecast period. The market in the region is propelled due to increased terror attacks in nations such as Pakistan and India. Increasing tensions on the borders between China, Pakistan, and India are estimated to result in considerable market growth.

Market Segmentation by Regions:

- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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