Fall Protection Market Size, Share & Trends Analysis Report By Type (Soft Goods, Hard Goods), By End-use (Construction, Manufacturing), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global fall protection market size was estimated at USD 2.61 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Favorable occupational safety legislations, together with the growing relevance of workplace safety and security, are expected to fuel industry expansion during the forecast period. Strict lockdowns implemented by governments across the globe, in light of the onset of the COVID-19 pandemic in 2020, had adversely affected the industry due to the partial and complete closure of industries, such as construction, mining, oil & gas, and manufacturing.

Furthermore, the supply chains of essential components and finished products had been severely disrupted by compulsory quarantines, lockdowns, and lack of raw materials & labor. The market in the U.S is undergoing a transformation as a result of the COVID-19 pandemic, with businesses in this field making strategic acquisitions and expanding capacity to meet the rising demand after the governments and banks moved rapidly in 2020, assisting people, bringing job protection measures, and fiscal transfers to businesses to avert defaults.

Furthermore, the passing of the Infrastructure and Investment Jobs Act in November 2021 has created upswings for the construction sector, thereby boosting the demand for fall protection. Fall protection devices are mainly used to protect workers from injuries that are caused due to free falls. Falls are the common causes of accidents in the construction, manufacturing, and mining industries, which have resulted in a majority of injuries and deaths. This product is used to safeguard employees who work at elevated locations. Emerging economies in the Asia Pacific, including China and India, have experienced rapid urbanization and industrialization during the past few years and are projected to have an increased blue-collar workforce.

The growth and evolution witnessed by leading industrial verticals, such as manufacturing, construction, and mining, have subsequently boosted the demand for these products. The global supply chain disruptions caused by the COVID-19 outbreak in 2020, along with the ongoing Russia-Ukraine war, have resulted in increased steel prices across the world. Russia and Ukraine are key steel producers, as well as providers of natural gas and coking coal used as key raw materials. Thus, the ongoing supply chain disruptions are projected to result in a shortage of raw materials and a rise in steel prices, and an increase in the prices of these products.

Type Insights

The soft goods product segment led the industry in 2021 and accounted for the highest share of more than 33.00% of the global fall protection revenue. The demand for soft goods is predicted to rise owing to increasing onshore and offshore drilling activities, coupled with rising shale gas production and an increase in construction activities globally. This is anticipated to augment the demand for these products to protect employees from workplace hazards. Harnesses, body belts, lanyards, and ropes are examples of soft products that are intended to keep personnel from falling or, if they do fall, prevent them from inflicting significant injury. A complete body harness is a type of body support system that spreads fall arrest forces across the shoulders, pelvis, and thighs.

Body harnesses have a fall arrest connector in the back for attaching to the fall arrest device. The demand for hard goods is expected to witness a significant CAGR during the forecast period. Anchors, karabiners, rope grabs, and retractable blocks are examples of hard products. OSHA defines anchoring as a secure place of connection for lifelines, lanyards, or deceleration devices. Fall protection is typically used when working at heights; however, it may be useful when working on any edge, such as in a pit or hole, or when performing work on a steep slope. This product is commonly utilized on high-rise building sites. Various strategies are used to protect against falls. Workers, for example, employ a fall arrest system, which is a collection of anchoring, lanyard, body harness, and deceleration device, in specific areas to accomplish fall protection.

End-use Insights

The construction segment led the industry and accounted for the largest revenue share of 38.35% in 2021. The rising number of infrastructure projects, increasing preference for home renovation, and a growing market for green buildings globally are expected to boost the demand for fall protection in the construction sector. The mining industry is anticipated to remain the key end-use sector for this product globally, as Slip, Trip, and Fall (STF) dangers have increased in mining areas, posing safety threats to mine employees. Furthermore, the rising need for mining operations to meet the growing energy demand, along with increased infrastructure construction in transition countries that require metals & cement, is boosting the demand for fall protection products.

The oil & gas segment is likely to witness a significant CAGR during the forecast period, owing to factors such as deals by the Organization of Petroleum Exporting Countries (OPEC), increasing popularity of natural gas, and landmark shale oil discovery. Furthermore, rapid technological advancements in the oil & gas industry are expected to boost the global demand for fall protection equipment during the forecast period. Transportation is one of the major sectors responsible for work-related hazards. The weight and size of the equipment and machinery that is used in the industry generate the need for worker safety from life-threatening injuries. The importance and requirement for fall protection equipment in the transportation industry are increasing owing to the risks involved in various activities, including manual freight handling and climbing on heights, such as truck and container tops.

Regional Insights

Asia Pacific is estimated to register the fastest CAGR of 8.1% during the forecast period. The region’s need for industrial development is being driven by a significant increase in mergers and acquisitions, integration activities, and site relocations. Economic expansion in India, China, and Southeast Asian countries has increased the need for improved public infrastructure, such as roads, harbors, airports, and rail transportation networks. Furthermore, due to cheap manufacturing costs, multinational corporations are likely to construct production facilities in emerging countries of Asia Pacific. These factors are projected to support the region’s growth.

North America is anticipated to dominate the market and held 29.4% of the global revenue share in 2021. The major revenue contributors to this market in the region are the U.S. and Canada. The market in this region is experiencing revenue growth as a result of rising worker safety concerns, early adoption of cutting-edge technology, and the existence of tight rules that require the use of fall protection equipment in many industries such as construction, oil & gas, manufacturing, and others.

In the construction sector, Europe is one of the most important regions. The fall protection sector is governed by stringent regulations from the European Commission. The Regulation (EU) 2016/425 covers the design, manufacturing, and marketing of Personal Protective Equipment (PPE). Germany is the leading construction-focused economy in Europe due to heavy investments as a result of favorable government incentives, digitization, and economic confidence. These factors are expected to propel the product demand in the region. Central & South America is expected to witness significant growth during the forecast period.

Rapid urbanization and increased consumer spending capacities in countries, such as Brazil, Argentina, and Chile, have contributed significantly to the growth of the manufacturing, construction, and mining industries, which are expected to create product demand. The growing oil & gas industry in the Middle East region is expected to drive the product demand during the forecast period. A rise in the number of ongoing investments in Exploration & Production (E&P) activities by various companies, including National Drilling Co. and Abu Dhabi National Oil Co., are expected to boost the growth of the oil & gas industry. Furthermore, ongoing investments by industry participants, such as SeaDrill and ADNOC, in E&P activities are expected to propel the region’s growth.

Key Companies & Market Share Insights

To increase market penetration and cater to changing technological requirements from various end-uses, such as manufacturing, mining, and construction, product manufacturers use a variety of strategies, such as joint ventures, mergers, acquisitions, new product launches, and geographical expansions. Manufacturers are undertaking strategic acquisitions to gain an edge in the industry and increase their geographic presence. For instance, in January 2021, Cresto Group acquired Safetime, a fall protection manufacturer in Slovakia. This acquisition will accelerate Cresto Group’s internationalization and further strengthen its manufacturing capability as well as position it towards its core business segments. Some prominent players in the global fall protection market include:

• FallTech

• Petzl

• SKYLOTEC

• WernerCo.

• Guardian Fall

• MSA Safety

• Honeywell International

• 3M

• W.W. Grainger, Inc.

• Gravitec Systems, Inc

Fall Protection Market Report Scope

Global Fall Protection Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global fall protection market report on the basis of type, end-use, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Soft Goods

  • Hard Goods

  • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Construction

  • Manufacturing

  • Oil & Gas

  • Chemicals

  • Food

  • Pharmaceuticals

  • Healthcare

  • Transportation

  • Mining

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • U.K.

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Indonesia

    • Thailand

    • Malaysia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • UAE

    • Saudi Arabia