Global Construction Worker Safety Market Size, Share & Industry Trends Analysis Report By Type, By Application (Worker Body Safety and Workplace Safety), By Construction Type (Residential, Commercial and Industrial), By Regional Outlook and Forecast, 2023 - 2029
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Market Report Description
The Global Construction Worker Safety Market size is expected to reach $5.6 billion by 2029, rising at a market growth of 9.9% CAGR during the forecast period.
North America is one of the leading regions in the construction worker safety market because the region is mostly linked to the most forward-thinking technical firms in the region as well as wealthy and tech-savvy clients looking for cutting-edge workplace safety solutions. Enhanced safety standards and government regulations on worker safety primarily drive the surge in North America’s market. Thereby, North America accounted for $881.1 million in 2022.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. In July, 2022, Radians unveiled Titanium, a climbing-style safety helmet. The dielectric cap mount earmuff fits Titanium and most other slotted hard hats. Additionally, The Titanium and earmuff attachment offers a dual safety solution when head and hearing protection is needed in moderate to high-noise environments. Additionally, In January, 2023, Hilti announced the launch of 30 new cordless tools in its available Nuron Range that provides 70 battery-powered tools for multiple industries, consisting of construction, engineering and mechanical, heavy industry, interior finishing, and steel and metal work applications.
KBV Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the KBV Cardinal matrix; 3M Company, Honeywell International, Inc. and DuPont de Nemours, Inc. are the forerunners in the Construction Worker Safety Market. In 2022-Dec: DuPont came into an extended partnership with Team Rubicon, a veteran-led humanitarian company. The partnership consists of supplying Tyvek protective apparel, safety-oriented content, and access to safety personnel and potential volunteers. Companies such as Hilti AG and MSA Safety Incorporated are some of the key innovators in the Construction Worker Safety Market.
Market Growth Factors
The growing construction sector
The population is expanding, cities are becoming more populated, and domestic manufacturing is rising. Governments all across the world are investing more money in infrastructure, which is boosting the construction industry’s growth. The development of the construction sector is further aided by rising private sector investments. One of the main factors fueling the market’s expansion is the government’s increasing investment in renovating various residential and commercial structures to boost the specific country’s economy. As the construction sector expands due to various reasons, the demand for construction worker safety equipment is anticipated to surge.
Advancement in the safety equipment
The development of technology has resulted in its incorporation into the marketplace. For example, intelligent PPE is gaining traction in the market for construction worker safety. Bluetooth-enabled smart PPE can communicate to the internet and other devices, providing real-time information on worker safety. Additionally, it aids in the collection of data on employees’ movements and provides notifications regarding potential positioning enhancements. In addition, the increasing development of automotive technology contributes to the delivery of greater safety benefits. Consequently, the advancement and use of modern technology in construction worker safety equipment are anticipated to increase their application in various end-use industries, thereby driving the market growth.
Market Restraining Factors
Difficulties in implementation and associated high cost
Installing workplace safety systems is needed to protect employees and equipment in an emergency. However, the considerable costs associated with construction site safety components, implementation, installation, and maintenance create a significant financial burden on the business. In addition, the deployed systems have substantial installation and subscription expenses. Small enterprises in low-income countries find it challenging to afford the expensive installation expenses of these solutions, whereas large organizations can. Therefore, it is anticipated that the complicated installation process and high implementation costs will restrain market growth.
By application, the construction worker safety market is classified into worker body safety and workplace safety. The workplace safety segment acquired a substantial revenue share in the construction worker safety market in 2022. This is due to the fact that the systems for workplace safety are made to guard against a variety of ergonomic, chemical, physical, and biological dangers. Thus, the need for workplace safety solutions is increased by the growing worries about occupational safety. The high need for dependable safety solutions to ensure asset and personal security is expected to drive the segment’s growth.
Based on type, the construction worker safety market is segmented into personal protective equipment, fall protection equipment and safe excess equipment. The personal protective equipment segment held the highest revenue share in the construction worker safety market in 2022. This is because using personal protection equipment (often called “PPE”) lowers exposure to risks that might result in severe workplace illnesses and injuries. In addition, personal protective equipment aids in preventing workplace emergencies among staff members brought on by inhalation, irritants, absorption, or other extended contact with a cleaning chemical.
Construction Type Outlook
On the basis of construction type, the construction worker safety market is divided into residential, commercial and industrial. The residential segment witnessed the largest revenue share in the construction worker safety market in 2022. This is due to the fact that none of these structures are used for business purposes but rather for habitation. Residential buildings include multi-family homes, apartments, and even mobile homes, even though many people primarily consider single-family homes when considering residential structures. The use of safety equipment for construction workers will increase along with the popularity of smart houses and multi-story apartments, supporting the segment’s expansion.
|Market size value in 2022||USD 2.9 Billion|
|Market size forecast in 2029||USD 5.6 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 9.9% from 2023 to 2029|
|Number of Pages||213|
|Number of Table||344|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Construction Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the construction worker safety market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region registered the highest revenue share in the construction worker safety market in 2022. This is due to automation and industrialization in Europe which is increasing the need for the market. The usage of worker safety equipment in both new building and refurbishment projects is anticipated to increase in Europe as a result of low mortgage rates. Also, the market is anticipated to be driven by demographic variables such as variations in economic activity and the distribution of income.
Free Valuable Insights: Global Construction Worker Safety Market size to reach USD 5.6 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Honeywell International, Inc., Hilti AG, MSA Safety Incorporated, DuPont de Nemours, Inc., Ansell Ltd., Mallcom Limited, Radians, Inc. (Safety Supply Corporation), ESC Consultants, Inc. (ERM Group Company), and Rock Fall Ltd.
Recent Strategies Deployed in the Market
» Partnerships, Collaborations and Agreements:
- Mar-2023: 3M today joined hands with Guardhat, an industry-leading connected safety software company. The collaboration would boost 3M's Safety Inspection Manager improvements during the time of evaluating the latest connected safety personal protection equipment to make sure more frontline workers are safe.
- Mar-2023: Hilti partnered with Canvas, a construction robotics company that has developed a robotic drywalling solution aiming to empower people to build in bold new ways. Under this partnership, Hilti would support Canvas in reimagining improved ways of working through the power of AI and robotics.
- Dec-2022: DuPont came into an extended partnership with Team Rubicon, a veteran-led humanitarian company. The partnership consists of supplying Tyvek protective apparel, safety-oriented content, and access to safety personnel and potential volunteers.
- Mar-2022: Honeywell International Inc. joined hands with OTTO Motors, a company with expertise in the development of intelligent and flexible mobile robots for automated materials handling. This collaboration would offer automation across North America to help with labour-intensive tasks that include moving pallets, totes, and carts.
- Jul-2021: MSA Safety Incorporated signed an agreement with Perspective Robotics AG of Zurich, Switzerland. Under this agreement, both companies would advance fire scene situational awareness, both locally and through the cloud, through the development of improved products and services that aligns with the crucial strengths of both companies.
- Mar-2021: 3M’s Personal Safety Division teamed up with Cority, a company engaged in offering environmental, health, and safety (EHS) software. Following this collaboration, the integration of 3M’s technology, advancements, and product platforms in Connected PPE and PPE with Cority's specialization in EHS and Quality software would help customers from a diverse range of industries.
» Product Launches and Product Expansions:
- Apr-2023: DuPont introduced Kevlar® EXO™ aramid fibre, the new technology platform innovated to serve limitless applications where both protection and performance is needed at the time of demanding and intense situations. The product would offer an unmatched combination of flexibility, lightness, and protection from aramid fibre.
- Jan-2023: Hilti announced the launch of 30 new cordless tools in its available Nuron Range that provides 70 battery-powered tools for multiple industries, consisting of construction, engineering and mechanical, heavy industry, interior finishing, and steel and metal work applications.
- Jul-2022: Radians unveiled Titanium, a climbing-style safety helmet. The dielectric cap mount earmuff fits Titanium and most other slotted hard hats. Additionally, The Titanium and earmuff attachment offers a dual safety solution when head and hearing protection is needed in moderate to high-noise environments.
- Mar-2021: Hilti North America launched ON! Track 3.0 Software, a solution that provides smart inventory checks, custom asset cost reports, and asset management. The product is a software solution that offers rapid clarity and efficiency to the business at the time of helping decrease operational and overhead costs.
» Acquisitions and Mergers:
- May-2021: MSA Safety Incorporated acquired Bacharach, Inc. and its affiliated companies from FFL Partners, a private equity firm based in California. Following this acquisition, Bacharach boosts its long-term growth strategy to broaden its addressable market in applications that line up with MSA's goals and core technologies.
» Geographical Expansions:
- Mar-2023: Ansell expanded its geographical presence by opening a Greenfield Manufacturing Plant in India. The facility would focus primarily on the manufacturing of surgical and life sciences products, with plans to produce a broad range of Ansell products.
Scope of the Study
Market Segments Covered in the Report:
- Personal Protective Equipment
- Fall Protection Equipment
- Safe Excess Equipment
- Worker Body Safety
- Workplace Safety
By Construction Type
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 3M Company
- Honeywell International, Inc.
- Hilti AG
- MSA Safety Incorporated
- DuPont de Nemours, Inc.
- Ansell Ltd.
- Mallcom Limited
- Radians, Inc. (Safety Supply Corporation)
- ESC Consultants, Inc. (ERM Group Company)
- Rock Fall Ltd.
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What would be the size of this Market by 2029?
The Market size is projected to reach USD 5.6 billion by 2029.
What are the key driving factors and challenges in this Market?
The growing construction sector are driving the Market in coming years, however, Difficulties in implementation and associated high cost restraints the growth of the Market.
What are the major top companies in the competitive landscape?
3M Company, Honeywell International, Inc., Hilti AG, MSA Safety Incorporated, DuPont de Nemours, Inc., Ansell Ltd., Mallcom Limited, Radians, Inc. (Safety Supply Corporation), ESC Consultants, Inc. (ERM Group Company), and Rock Fall Ltd.
At what CAGR is the Market estimate to grow in the forecast period?
The expected CAGR of this Market is 9.9% from 2023 to 2029.
Which segment shows a high revenue share of this Market in 2022?
The Worker Body Safety segment acquired maximum revenue share in the Market by Application in 2022 thereby, achieving a market value of $3.7 billion by 2029.
Which region dominated the Market in 2022?
The Europe market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.9 billion by 2029.