Market Research Report
Hand Protection Equipment Global Market Report 2022
|Hand Protection Equipment Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Hand Protection Equipment Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global hand protection equipment market.
This report focuses on hand protection equipment market which is experiencing strong growth. The report gives a guide to the hand protection equipment market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the hand protection equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Hand Protection Equipment market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider hand protection equipment market, and compares it with other markets.
Major players in the hand protection equipment market are: Top Glove Corporation Bhd, Hartalega Holdings, Honeywell International Inc, 3M Company, Alpha Pro Tech, MCR Safety, Ansell Limited, Kossan Rubber Industries Bhd, Kimberly Clark Corporation, Adenna LLC, Superior Gloves, Atlantic Safety Products, Inc., Ammex Corporation, Cardinal Health, Protective Industrial Products, Inc, Globus (Shetland) Ltd., and Midas Safety Inc.
The global hand protection equipment market is expected to grow from $27.49 billion in 2021 to $29.44 billion in 2022 at a compound annual growth rate (CAGR) of 7.09%. The hand protection equipment market is expected to reach $38.72 billion in 2026 at a CAGR of 7.09%.
The hand protection equipment market consists of sales of hand protection equipment by entities (organizations, sole traders, and partnerships) that refer to durable and non-durable hand protection equipment such as gloves, finger guards, and arm coverings, designed to protect hands and arms from a potential hazard such as skin absorption of dangerous chemicals, chemical or thermal burns, electrical hazards, bruising, abrasions, cuts, punctures, fractures, or amputations. Hand protection equipment's are mandatorily worn by employees to protect them from the risks in their work environment.
The main types of hand protection equipment include durable gloves and non-durable gloves. The durable gloves refer to cut-resistant gloves that are used to safeguard the user's hand cuts while working with sharp things. These gloves are made from special composite material such as stainless-steel mesh, fiberglass, synthetic fiber yarns, and others. This hand protection equipment's are made from natural rubber or latex, nitrile, vinyl, and others. The end-users of hand protection equipment include healthcare, industrial safety & chemical, construction, automotive, and others.
North America was the largest region in the hand protection equipment market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hand protection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hand protection equipment market research report is one of a series of new reports from The Business Research Company that provides hand protection equipment market statistics, including hand protection equipment industry global market size, regional shares, competitors with a hand protection equipment market share, detailed hand protection equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hand protection equipment industry. This hand protection equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing awareness about the safety and health measures are propelling the growth of the hand protection equipment market. The proper use of safety measures prevents and reduces the variety of health, hands, and arms hazards that are exposed during the operational work. The stringent company policy and government regulation towards the safety and health of employees are safeguarded to eliminate workplace risks at the source, through technical or organizational means. For instance, In September 2020, Office of the federal safety commissioner, Australian government, in their article has sought the rising awareness and importance of hand safety being adopted by many companies under the various awareness program such as Five Steps to Hand Safety by Sarah construction, Take 5 to Keep 5 by Lipman to prevent hand and arm injury. Therefore, the increasing awareness about safety and health measures is driving the growth of hand protection equipment.
Expansion of production capacities is a key trend gaining popularity in the hand protection equipment market. Companies are expanding their production to fulfil the sudden upsurge in demand for gloves from medical customers. Additionally, supply chain disruption during the COVID-19 pandemic has forced governments across the globe to build sufficient domestic production capabilities for emergency products such as medical devices, PPE, and others. For instance, in February 2022, SHOWA Group, a USA-based fully integrated manufacturer of medical and industrial PPE hand protection tripled its production capacity to meet the growing demand for made-in-America gloves from both government and industrial customers. The two new production facilities of the company are expected to increase company production of hand gloves to 1.2 billion units by the end of 2022 and 2.8 billion by the end of new facility construction. In March 2020, Hartalega, a Malaysia-based company specializing in making gloves for healthcare practitioners, purchased 38.49 hectares of land in Sepang. The acquisition would allow the company to increase its capacity to satisfy expanding global glove demand gradually.
In March 2019, Protective Industrial Products Inc. (PIP), a subsidiary of Audax and a New-York based supplier of hand protection equipment and personal protection equipment acquired West Chester Protective Gear for an undisclosed amount. The acquisition by PIP is focused on expanding its product portfolio and strengthening its market presence across the globe. West Chester Protective Gear, is a Cincinnati-based company involved in the manufacturing and distribution of high-performance gloves, personal protection equipment, workwear and raingear.
The countries covered in the hand protection equipment market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.