Sellbyville, DE -- (SBWire) -- 03/19/2019 --Global Market Insights Add New 2019-2024 Global Respiratory Protective Equipment Market Report to its research database presenting an informative study covering the market with detailed analysis. The market research report is a professional and in-depth study on the current state of global Industry.
Respiratory Protective Equipment Market size is anticipated to surpass USD 9.9 billion by 2024; according to a new research report by Global Market Insights, Inc.
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The growth curve of respiratory protective equipment market is forecast to be positively high in the coming years, given the rising number of regulatory initiations by international bodies like OSHA, NIOSH, and ILO with regards to employee safety and workplace procedures. Speaking of potential opportunities of respiratory protective equipment industry, it is nothing but massive. The increasing rate of occupational respiratory disorders quite evidently validates the fact.
As per a recent report put forth by Health and Safety Executive, there are approximately around 12000 causalities every year resulting from occupational respiratory diseases. The report further declares that two third of this massive fraction are primarily due to COPD or asbestos-related diseases. As per estimates, every year, there are around 14000 new cases respiratory related problems, reportedly, originates due to long-hour of work in hazardous environment. These statistics certainly demonstrate the lucrative possibilities for respiratory protective equipment market in the coming years.
According to Global Market Insights, Inc., respiratory protective equipment market size, having held a revenue of USD 5.5 billion in 2016, will surpass a valuation of USD 9 billion by the end of 2024. The profitability landscape of the overall industry is quite conspicuous from the rapid industrialization across major economies. Boasting a wide application scope in industries like chemical, manufacturing, metal fabrication, textile, and pulp & paper with regards to maintaining workplace safety, overall respiratory protective equipment market share from industrial applications carved a lucrative growth in 2016. In addition, a strict regulatory framework further adds a remarkable momentum to the overall industry trends.
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Speaking of product landscape, supplied air respirator procured a sizable portion of the overall respiratory protective equipment industry in 2016, having collected a revenue of USD 3.9 billion. Supplied air respiratory protective equipment are extensively deployed across domains which are more prone to contaminated toxic environment and lack cleaner air, subject to the fact that these devices are mainly used for delivering breathable air at minimal pressure.
Supplied air respiratory protective equipment market is further bifurcated into airline respirators and SCBA (self-contained breathing apparatus), where the latter is mainly deployed in oxygen deficient environment. Firefighting professionals utilize these equipment for life-saving operations during emergency situations.
Worldwide, respiratory protective equipment industry encompasses a host of renowned companies including Honeywell International, 3M, Bullard, Gerson, Delta Plus, ILC Dover, Intech Safety, Alpha Pro Tech, RSG Safety, and Kimberley Clark. The business space seems to be quite competitive with leading giants' rigorous efforts of sustaining their business position by adopting various growth strategies like mergers and acquisitions and product differentiation. To cite a recent instance, 3M, one of the formidable players in respiratory protective equipment market, has recently inked a strategic collaboration with Johnson Controls by acquiring Scott Safety, a renowned manufacturer of self-control detection system, flame detection devices, for a valuation of USD 2 billion.
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Experts claim, through this deal, 3M aims to strengthen its portfolio in the personal protective equipment market, unsurprisingly leaving a subsequent impact on respiratory protective equipment market. The lucrative investments by the leading giants in this fraternity coupled with a stringent regulatory framework with regards to worker safety, respiratory protective equipment industry is sure to witness remarkable proceeds in the coming years, with an estimated CAGR of 7.2% over 2017-2024.
Respiratory Protective Equipment Market Will Witness 7.2% Growth Up to 2024
Supplied air respiratory protective equipment market size was over USD 3.9 billion in 2016. The product is majorly used in harmful, contaminated and toxic environment which lacks cleaner air for breathing. This device delivers breathable air at nominal pressure through face mask, hood or visor. It is further categorized into self-contained breathing apparatus (SCBA) and airline respirators