Continued Online Sales of Electrical Safety Products To Push the Market Over US$ 3 Bn in 2021
A Fact.MR study offers insights into chief growth drivers and restraints impacting electrical safety products sales growth. The report also studies demand outlook in terms of application and end-use industries. It analyzes key strategies adopted by vendors to increase sales of electrical safety equipment
NEW YORK, July 22, 2021 /PRNewswire/ — Fact.MR – A Market Research and Competitive Intelligence Provider: The global electrical safety products sales outlook remains positive as Fact.MR Projects demand to rise at 6% CAGR between 2021 and 2031. The overall market valuation is expected to surpass US$ 6 Bn by 2031. Implementation of stringent workplace regulations will give tailwinds to growth, enabling electrical safety products sales to top US$ 3.3 Bn in 2021.
Consistent rise in construction projects and consequently increasing demand for flash testing will create opportunities for growth, especially in emerging nations. Electrical safety products are considered indispensable to prevent the risk of electrical hazards.
Focus on improving worker safety in adherence to regulations imposed by organizations such as Occupational Safety and Health Administration (OSHA) and others which will accelerate prospects for sales in the coming years.
Electrical safety components prices are rising at 15%, which have strengthened price points and offered sense of confidence among investors in the market. Coupled with this, manufacturers are focusing on reducing weight of products and are choosing quick-drying fabric to offer improved performance of electrical safety products.
Emphasis on improving product quality besides evolving safety standards for workplace and industrial safety will facilitate electrical safety products sales in the coming years. This also will create opportunities for product launches.
For instance, in 2019, DuPont launched Normex Comfort, a new fabric technology for personal safety products. The lightweight fabric adheres to international standards for heat and flame protection and offers body burn protection.
“Driven by evolving government policies and greater emphasis on maintaining safe work environment, manufacturers are likely to invest in breakthrough technologies to offer advanced products,” said a Fact.MR analyst.
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Key Takeaways from Electrical Protective Products Market Research Report
The market in the U.S accounted more than 38% of total global share in 2020 and is anticipated to increase 1.7X by 2031.
Sales of electrical safety products are projected to grow at 4.7% by 2031 in Russia.
Germany accounts for over 30% of Europe market and is anticipated to grow at 5.2%.
Demand in Saudi Arabia is estimated to grow at 1.9% CAGR.
China continues to remain most lucrative market owing to rising demand for arc flash safety products.
Demand for wearable rubber insulation is rising in industrial and commercial sector.
Increasing awareness regarding safety in workplaces and implementation of stringent government regulations will continue driving sales of electrical safety products.
Increasing urbanization is expected to propel sales of electrical safety equipment.
Rising application in power utility segment will continue driving growth opportunities.
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Key players profiled in the market are focusing on expansion of electrical protective products production capacities to increase market revenue. For instance,
In November 2019, Ansell Ltd, a leading player in safety facilities collaborated with ProGlove, a leading developer of industrial wearable to create protection solutions using technology which will ensure workplace safety compliance with advanced personal protective tool
Key players operating in the electrical safety tools sales outlook include
Aktywizacja, Ansell Ltd.
Chicago Protective Apparel
Honeywell International, Inc.
Key Questions Covered in the Electrical Safety Equipment Market Report
The report offers insight into electrical safety products demand outlook for 2021-2031
The market study also highlights projected sales growth for electrical safety products between 2021 and 2031
Electrical safety products market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Electrical protective products market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Flame Resistant and Retardant Fabric Market – Fabrics that are flame resistant and retardant are used to make furniture, apparel, and protective garments for use in a variety of industries, including chemical, military, mining, infrastructure & construction, and oil & gas. The need for flame resistant and retardant fabric has been fueled by stringent industrial safety standards that maintain workplace safety and govern worker protection rules.
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