April 08, 2022 05:00 ET | Source: GreyViews GreyViews
Pune, India, April 08, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the hand protection equipment market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the hand protection equipment market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product category, application, technology, end-users and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
Global Hand Protection Equipment Market Size by Product Type (Reusable and Disposable), Raw Material (Neoprene, Nitrile, Natural Rubber/Latex, Vinyl and Others), End-user (Manufacturing, Construction, Chemicals, Food, Oil and Gas, Mining, Transportation, Healthcare, Pharmaceuticals and Others), Distribution Channel (Online and Offline) Regions, Segmentation, and forecast till 2028.
The significant players operating in the global hand protection equipment market are Adenna LLC, MCR Safety, Top Glove Corporation Bhd, Superior Gloves, Ammex Corporation, Halyard Health Inc., Cardinal Health, Globus Ltd., Hartalega Holdings Berhad, Atlantic Safety Products Inc., Kimberly Clark Corporation, Medline Industries, Sempermed USA Inc., Kossan Rubber Industries Bhd, and others. To achieve a substantial market share in the worldwide hand protection equipment market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Adenna LLC and Cardinal Health are one of the most significant manufacturers and distributors present in the global hand protection equipment market.
Hand protection equipment is referred to a wide group of products, which are designed with an objective to protect against various hazards. The hand, fingers and arms, are often injured, during working hours, which requires to wear protection equipment for the employees. This hand protection equipment ensures protection from vibrations, heat, cold, burns, bacterial infection, chemical contamination, etc. The use of hand protection equipment are specially done in construction work, vibrating apparatus, cold or hot environment, chemicals, hazardous elements, manual handling of sharp objects, etc. Safety gloves are a major type of protective equipment which can be worn across multiple industries.
The increasing concern for safety of workers in healthcare and manufacturing industry will drive the growth of the market. The rising demand has propelled the use of hand equipment across industries. Thus, the manufacturers are trying to fulfil the demand by expanding their production. The awareness regarding hygiene is increasing drastically especially due to the prevalence of covid-19. During the pandemic, many regional and global agencies has provided stringent regulations for the safety of workers especially in healthcare sector. Thus, these regulations have positively impacted the hand protection equipment.
The number of players present in the hand protection equipment market has increased especially in the last couple of years. These players are adopting various strategies such as increasing product portfolio, expansion of distribution network, and penetration in different geographies. The manufacturers are integrating various operations in value chain process and also partnering with different manufacturers and suppliers to increase their consumer base. However, the fluctuating prices of raw material is influencing the growth of hand protection equipment market.
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Disposable gloves segment is expected to be the fastest growing product type segment in 2021.
The product type segment includes reusable and disposable. Among these, disposable segment is expected to be the fastest growing product type segment. Disposable gloves are majorly used in healthcare facilities. They are used to prevent cross-infection in such facilities, as they are thrown away after one use. Disposable gloves are widely used in food service and general industries. The use of disposable gloves is vital in laboratories, in order to handle volatile chemicals.
Neoprene segment is expected to be the fastest growing raw material segment in 2021
The raw material segment includes neoprene, nitrile, natural rubber/latex, vinyl and others. Out of these, neoprene is expected to be the fastest growing raw material segment. Neoprene is a material that resists stretches and allows a more stable fit as compared to other raw material such as nitrile and latex. The grip of neoprene is way better than other materials and also keeps the worker’s hand dry.
Construction segment is expected to be the fastest growing end-user segment in 2021
The end-user segment includes manufacturing, construction, chemicals, food, oil and gas, mining, transportation, healthcare, pharmaceuticals and others. The construction segment is the fastest growing end-user segment. Construction industry requires the use of heavy equipment, which is operated manually by the workers. Thus, the worker can be injured while doing the daily operations, and thus the use of hand protection equipment is necessary for them. The cost of injuries is one of the major reasons for the companies to adopt such equipment in their facilities.
The offline segment led the hand protection equipment market with a market share of around 78.45% in 2021.
The distribution channel segment includes online and offline. The offline segment registered leading shares in 2021. Offline distribution channel includes retail shops, specialized shops and hardware stores. The consumers have an option to visit the physical stores and choose from the diverse options of product type, category, etc. The consumers will also want to choose from different quality of the material.
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the hand protection equipment include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Europe region dominated the hand protection equipment market and held 34.93% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as presence of many global and regional manufacturers, availability of the required technology for the manufacturing of hand protection equipment and abundance of raw materials. The higher pace of industrialization and urbanization has brought tremendous growth in end-user sectors. However, Asia-Pacific region is projected to register higher growth rate during the forecast period of 2022-2028. The improving standards for safety in manufacturing facilities, is providing lucrative opportunities to the market growth. The countries such as China, Japan, India, etc. is imposing stringent regulations for maintaining hygiene standard in pharmaceutical industry.
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for hand protection equipment has increased during the period owing to the regulations on social distancing and increasing focus on safety and hygiene. In most of the regions, the healthcare sector was experiencing tremendous pressure by the regional and global agencies for maintain hygiene standards in order to prevent cross contamination. Thus, the use of hand protection equipment such as safety gloves has increased greatly owing to the adoption of preventive measures. The agencies such as Centers for Disease Control and Prevention, had issued safety guidelines for the use of such equipment.
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