Global Protective Eyewear Market to Reach $2.7 Billion by 2026
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Protective Eyewear - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 12; Released: May 2021
Executive Pool: 4502
Companies: 56 - Players covered include 3M Company; Arena Tactical (Arena Industries, LLC); BartelsRieger Atemschutztechnik GmbH; Blueye Tactical (Blueye Eyewear Pty Ltd.); Bolle-Safety; Cardinal Health, Inc.; Draegerwerk AG & Co. KGaA; Eye Safety Systems, Inc. (Oakley, Inc.); Gateway Safety Inc.; Gentex Corporation; Honeywell International; JSP Ltd.; Kimberly-Clark Corporation; MCR Safety; MSA Safety Incorporated; Perriquest Defense Research Enterprises, LLC; Polison Corporation; Pyramex Safety Products LLC; Radians, Inc.; Wiley X, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Non-Prescription, Prescription); Design (Direct Vented, Indirect Vented, Non-Vented); Application (Industrial Manufacturing, Construction, Military, Oil & Gas, Mining, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Protective Eyewear Market to Reach $2.7 Billion by 2026
Personal Protective Equipment (PPE) refers to all work related accessories and garments designed to protect employees against hazardous environments in the workplace. Protective equipment and garments include eye protection devices, high visibility clothing, and other items which prevent harmful materials and environments from injuring the employees. While training of employees in ensuring personal safety and preventing injuries prepares them to deal with potentially dangerous situations at workplaces, they need to be physically protected against hazards and injuries that such situations are likely to pose/inflict. Eye protection devices or protective eyewear protect employees from flying particles, acids or caustics, liquid chemicals, vapors or chemical gases, or injurious light radiation. Popular eye protection equipment includes safety goggles, protective visors and laser protection eyewear. Eye and face protection devices are suitable for carpenters, electricians, machinists, mechanics, pipe fitters, sheet metal workers, sanders, grinders, welders, laboratory workers, rounds keepers, tractor operators and pesticide sprayers.
Amid the COVID-19 crisis, the global market for Protective Eyewear estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$2.7 Billion by 2026, growing at a CAGR of 3.7% over the analysis period. Non-Prescription, one of the segments analyzed in the report, is projected to record 3.4% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Prescription segment is readjusted to a revised 4.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $741.7 Million in 2021, While China is Forecast to Reach $390.8 Million by 2026
The Protective Eyewear market in the U.S. is estimated at US$741.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$390.8 Million by the year 2026 trailing a CAGR of 5.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.
The United States remains at the forefront of protective eyewear adoption and occupies an impressive estimated 33% share of the global market in 2020 owing to robust demand from end-use industries. The construction sector is one of the leading adopters of protective eyewear in the region due to high incident of worksite injuries. In 2017, the construction industry in the US witnessed a large number of worksite injuries, costing 971 lives. These incidents are driving operators in the industry to invest in high-quality protective gear to ensure worker safety. The regional market is also gaining from technological innovations and increasing use of smart PPE. The US holds the leading value share owing to high adoption rate along with enforcement of stringent regulations and heavy fines for non-compliance. The market is also propelled by rising awareness regarding workplace safety across industries like manufacturing, healthcare, automotive, chemical and food processing. Amid the COVID-19 crisis, demand from the healthcare sector is expected to exhibit tremendous growth over the next few years.
Europe is also one of the major protective eyewear markets globally, and estimated to post a modest growth of 2.8% in the coming years. The region is witnessing increasing requirement of sophisticated high-utility and wear-and-tear-resistant protective eyewear in core industries like oil & gas, metal manufacturing, refining and automotive. The trend along with rising incident of occupational injuries is bound to stimulate the market growth. On the other hand, increasing cases of industrial fatalities across emerging economies due to low level of awareness about workplace safety and lack of proper protective gear are driving protective eyewear demand in Asia-Pacific. The regional market is anticipated to also gain from ongoing technological advancements and changing preference of consumers for protective eyewear that combines style and safety. More
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