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Electrical Safety Personal Protective Equipment (PPE) Market to witness high growth in near future

Author : Rahul Varpe | Published Date : 2019-08-09 

Electrical Safety Personal Protective Equipment (PPE) Market from oil & gas sector may observe strong gains on account of its usage against arc flash, explosion & electric shock hazards caused by low voltage motors, medium voltage machinery and distribution board should fuel product demand. Growing oil & gas industry due to expanding investments in explorations activities supported by rising gasoline demand should foster product demand.

The global electrical safety PPE market is poised to garner substantial growth in the ensuing years, owing to development in the automotive industry worldwide. In addition to its uses across construction and manufacturing, electrical safety PPE products are excessively used in the automotive industry. The industry often requires complete respiratory, hearing, hand and eye protection devices due to the number of potential hazards present within the automotive manufacturing plants.

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Speaking of which, according to Global Market Insights, Inc., electrical safety PPE market size from automotive applications is anticipated to exceed $250 million by 2025. Therefore, it is safe to assume that advancement in the automotive industry will drive the electrical safety PPE industry share over the coming years.

Electric vehicles is the most flourishing segment of the automotive industry. Increasing sales rate is demonstrating growth across most regions, especially the Asia Pacific. The electric vehicle market has expanded a lot in China over the last few years, solidifying the nation’s leadership position in electric vehicle market. The country’s EV efforts are further backed by the government, which believes the technology could help tackle the nation’s most pressing environmental concerns.

The Asia-pacific battery electric vehicles market is also growing as dominant players like China’s BYD Auto continue to successfully compete in the international market against contenders like Tesla Inc. The rising demand for electric vehicles is also persuading manufacturers to set up new plants to ramp up production, which will create new manufacturing jobs, thereby propelling electrical safety PPE market share.

A crucial element of any electric vehicle’s price is the cost of its batteries. According to credible reports, China is already manufacturing over half of the world’s electric vehicle batteries. Within a span of few years, Chinese firms have become some of the world’s major lithium producers, which is an important raw material for batteries. Indeed, China, driven by government initiatives, is said to account for an appreciable proportion of the global lithium ion battery industry.

Electrical Safety Personal Protective Equipment (PPE) Market, By End-Use

  • Electrical
    • Power generation
    • Transmission
    • Distribution
    • Electrical welding
    • Telecommunication
  • Oil & Gas
  • Mining
  • Machinery
  • Construction
  • Automotive
  • Others

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Likewise, companies in India are also gearing up to cash in on this rapidly emerging industry. Following the recently allotted budget of INR 10,000 crore for boosting electric and hybrid vehicle adoption, the government of India has recently approved a 5-year plan for electric vehicle battery manufacturing to set-up large scale and export-competitive batteries and cell manufacturing Giga plants. These efforts would enhance the safety requirements at battery manufacturing sites, which in turn, would benefit the electrical safety PPE market in the future.

India, which is the world’s largest market for motorbikes and scooters, is all set to experience electric two-wheeler revolution. Electric bike and scooters in India are expected to witness substantial growth on account of the country’s growing per capita income and increasing concerns related to vehicular pollution. This possibility is further strengthened by the government’s recent plans to convert all two-wheelers to electric by 2025, which has prompted several manufacturers to foray into the electric vehicle arena.

Case in point, India’s two-wheeler giant Bajaj Motors recently confirmed it may soon launch its first electric two-wheeler Urbanite. Additionally, to support the nation’s electric goal, major players are also working on potential investments to establish battery plants for electric vehicles. These efforts imply that the country would become a leading producer of electric vehicles in the coming years, which would generate huge electrical safety PPE requirements, thereby contributing to electrical safety PPE industry growth.

Data by the International Labor Organization states that every year over 1.1 million people fall prey to occupational accidents or diseases in the Asia Pacific. In order to encourage wellness of the employees as well as to save the employer from legal troubles, occupational safety is of extreme importance for the automotive industry.

Besides the aforementioned factors promoting electrical safety PPE products demand, government efforts to impose strict occupational safety guideline will also push manufacturers to equip their employees with proper safety products. For instance, India’s new government is set to prioritize labor reforms in its second term. Successful implementation of labor laws will generate massive electrical safety PPE requirements in not only the Asia Pacific but other regions worldwide as well. Furthermore, a research report by Global Market Insights, Inc. estimates the electrical safety PPE market to exceed $20 billion by 2025.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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