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Will Commoditization in PPE Products Lead the Growth of the Global Services Market as a Revenue Stream?

  • December 2013
  • -
  • Frost & Sullivan
  • -
  • 74 pages

Summary

Table of Contents

Snapshot of Opportunities in the PPE-related and General Safety Services Markets

This market insight analyzes the opportunities for services to offer a revenue stream in the global personal protective equipment (PPE) market. An overview of the PPE industry, which includes a revenue breakdown by product segment, is included. The reasons for market commoditization are analyzed, and the extents of commoditization for different PPE markets are assessed. Various safety services (PPE-related and general safety services) are examined, and both are benchmarked for qualitative market metrics. Recommendations and success factors are also provided. The base year for is 2012.

Executive Summary

• The global personal protection equipment (PPE) market was valued in the range of $Xto $X billion in 2012 and is expected to grow at a compound annual growth rate (CAGR) of X to X% between 2012 and 2017.
• Several market forces have impacted the PPE market, including an increase in safety awareness and the emergence of new applications and markets.
• Threats of commoditization remain a serious concern as developed markets mature and growth slows.
• Simpler products are easier to copy and thus are more susceptible to commoditization.
• Driven by the revival of economic growth and an increasing awareness of health and safety concerns, services are emerging as a growing revenue stream in the PPE market, as manufacturers combine value-adding services with products to offer unique and complete safety solutions.
• Safety services are segmented into PPE-related and general safety services. PPE-related services include product-related training, installation, PPE rental, inspection and certification, maintenance and repair, reconditioning and recycling, and other services. General safety services include consulting, training, and software.
• Barriers to entry and competitive factors differ with different types of safety service markets, and prudent decision making is required to assess the opportunities and risks for each type of service.
• PPE-related services are more closely oriented to PPE manufacturers and the value chain, and thus they are relatively easier for participants to gain traction in. However, opportunities for PPE market participants do exist within certain areas of general safety services, such as employee training.

PPE Market Overview

• PPE includes safety products used by workers to protect them from workplace-associated hazards.
• Participants in the PPE market range from small companies that focus on a single type of protective equipment to large, multinational corporations that manufacture and supply a wide range and sophistication of safety products.
• Customers heavily depend on PPE manufacturers to communicate the appropriate usage guidelines and other technical aspects (such as such as inspection, installation, and maintenance) for different kinds of PPE. Thus, products and services exist as interdependent aspects of the PPE market.
• PPE can be classified into X major product categories, depending on the type of protection offered.
• The global PPE market is mature and is forecast to grow at a CAGR of Xto X% between 2012 and 2017.
• Several factors drive the PPE market and have prompted manufacturers to upgrade and enhance product lines, ensuring market dynamism. These factors include the following:
- Changing workplace environments and types of hazards
- Updates in standards and regulations
- Globalization and changing workforce demographics
- Impact of fashion and changing customer preferences

PPE Market Overview—By Product Segment

• Above-the-neck Protection
• Fall Protection
• Protective Gloves
• Respiratory Protection
• Protective Footwear
• Gas Detectors
• Protective Clothing

PPE Market Overview by Region

• With well-defined safety regulations in place, North America and Western Europe are mature regional markets. However, they are still major revenue generators for PPE.
• Increasing safety consciousness and employer awareness of liabilities are among the main driving forces for improving safety compliance in developing countries, thereby promoting market growth.
• Head protection, protective gloves, and protective footwear are the PPE products with the highest rates of end-user compliance across the world.
• Products for respiratory and hearing protection, although mature in developed markets, have yet to attain true market potential in emerging economies.
• In terms of growth potential, Russia, followed by Latin America and China, holds the greatest market opportunity for PPE.

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