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The mining industry in China has been experiencing a decline in employment over the last 2-3 years, and the trend is likely to continue thus affecting the market growth
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Chinese mining PPE market generated revenue of $ 529.9 million in 2018 and is expected to grow at an estimated CAGR of 2.2 % during the forecast period. The region is expected to generate revenue of $ 590.7 million by 2023.China is the world’s leading producer of coal and many rare earth metals (approximately 95%). The country accounts for more than 50% of steel , aluminum and over 30% iron ore production globally.Strong domestic demand has made China the largest consumer of metal and minerals. Also, the country is one of the largest employers of mining workforce in the world. These factors are expected to support the demand for mining PPE during the forecast period.The country also has a presence of local PPE manufacturers who export their products in other geographies at cheaper costs. Owing to availability of cheap labour, major PPE manufacturers from mature markets have established their manufacturing facilities in the country.Rising competition for local PPE manufacturers and suppliers has resulted in price pressure which has affected the business of global PPE manufacturers. As Chinese mining companies expand globally in search of new mining sites, the local PPE manufacturers are expected to capitalize on this opportunity by collaborating with the mining companies to sell their PPE products.Slow economic growth, declining workforce in mining industry, lack of stringent work safety regulations and trade tensions with USA is expected to emerge as a key challenge for the mining sector growth during the forecast period. Environmental regulations are another major factor which is expected to pose a challenge to mining operations. Regulations to restrict environmental impact of mining activities has been gaining momentum .For mining projects which can have potentially major impact on the environment, the mining company is required to submit an environmental impact report and also has to hold a public hearing to understand the opinion of authorities and industry experts. This can often result in project delays which can further affect the possible employment opportunities and impact the PPE adoption rates.Honeywell, Drager, 3M, MSA, Baymro Safety, Xi'an Personal Protective Equipment Co.,Ltd, Zhejiang Dongya Gloves Co., Ltd, HXT Gloves, Shangyu Best, SAFETAK CO LTD, Sentek Electronics, Hanwei Electronics, Lida Helmets, Baymro Safety, Greateagle Safety Products Co., Ltd. ESAB are some of the major market participants in the Chinese mining PPE market.
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