The Europe Construction Worker Safety Market would witness market growth of 9.1% CAGR during the forecast period (2023-2029).
A rise in expenditure on employee safety is anticipated to help leading players in the construction worker safety market create growth prospects in the next years. Additionally, major industry players are using acquisition methods to grow their businesses. A platform in a market with high growth potential that is regionally fragmented is provided by such an acquisition to the organizations. As a result, the market employed in the construction industry is anticipated to propel market expansion. The manufacturing and construction sectors have experienced strong revenue growth in recent years, which is anticipated to continue during the projected period.
Rapid urbanization, industrialization, and technological developments in manufacturing processes promote market revenue growth. Additionally, due to growing environmental concerns, there has been a significant increase in demand for smart buildings and smart houses, and customers are leaning toward green energy and eco-friendly construction practices. In addition to these factors, the most recent trend in remodeling, improved flooring for aesthetic appeal, and increased adoption of automation across the region are all contributing factors that are driving market advancement. Furthermore, it is anticipated that government initiatives and rising investment in the creation of improved products will create positive growth opportunities in the future.
The volume of housing construction in Germany increased to EUR 264 billion in 2020 from EUR 245 billion the year before, according to the report of the Germany Trade and Investment (GTAI) organization, while the public and commercial sectors increased to EUR 65 billion and EUR 130 billion, respectively, in 2019. In the coming ten years, the German government and rail company Deutsche Bahn has pledged to spend EUR 86 billion on trains, switching stations, and other infrastructure. Thus, the market in the region will be boosted by increased construction work and government investment in infrastructure development, which will surge the demand for efficient safety equipment to ensure minimal safety hazards during the work.
The Germany market dominated the Europe Construction Worker Safety Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $448.8 Million by 2029. The UK market is estimated to grow at a CAGR of 8.3% during (2023 - 2029). Additionally, The France market would showcase a CAGR of 10% during (2023 - 2029).
Based on Type, the market is segmented into Personal Protective Equipment, Fall Protection Equipment and Safe Excess Equipment. Based on Application, the market is segmented into Worker Body Safety and Workplace Safety. Based on Construction Type, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Construction Worker Safety Market is Projected to reach USD 5.6 Billion by 2029, at a CAGR of 9.9%
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.
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