Market Research Report
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 728 Pages
Delivery time: 1-2 business days
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Global Protective Eyewear Market to Reach $3.1 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$2.4 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 4.4% over the analysis period. Non-Prescription, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$1.9 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 5% CAGR for the next 7-year period. This segment currently accounts for a 38.5% share of the global Protective Eyewear market.
The U.S. Market is Estimated at $822.4 Million in 2021, While China is Forecast to Reach $460.3 Million by 2026
The Protective Eyewear market in the U.S. is estimated at US$822.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$460.3 Million by the year 2026 trailing a CAGR of 6.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$119 Million by the end of the analysis period. The United States remains at the forefront of protective eyewear adoption 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. The regional market is also gaining from technological innovations and increasing use of smart PPE. 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 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.
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