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Closure of Coal Mines and Waning Mineral Exploration Activities are Expected to Affect the Mining PPE Adoption Rates and the Overall Market Potential during the Forecast Period
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This research service covers the personal protective equipment (PPE) used in the European mining industry. Coal and mineral mining operations have been included. Mining for oil and gas has been excluded from the scope of the research.The PPE market is covered in a total of 7 product segments—above-the-neck protection, respiratory protection, protective gloves, workwear, protective footwear, fall protection, and gas detection. The closure of coal mines in the region is expected to affect the employment rate in the mining industry which is further expected to affect the revenue growth for mining PPE during the forecast period. High labor and energy costs, especially in the metal mining industry have resulted in higher operating costs which further affect the profitability of the mining projects. PPE, being a cost-sensitive market, mining companies in such cases may cut down the safety budget which further negatively impacts the PPE adoption rates in the region. Even though Europe has well-developed transport and infrastructure facilities, environmental regulations, coupled with public opposition to mining activities, are expected to pose a major challenge for the mining industry growth.Another major factor which is likely to affect the mining PPE market is the declining number of active mines in the region. Countries such as but not limited to Austria, Ireland, Portugal, Sweden, UK, and Ireland have active mines in the region. Simplifying the regulatory process, addressing the energy costs, and initiatives by the government to provide funding for research and exploration activities, are likely to play pivotal roles in supporting the growth of mining industry in the region. This will further positively influence the employment rates in the mining industry and increase the adoption rates for PPE during the forecast period. However, factors such as a strong economic policy, a well-defined regulatory framework, and a mature work safety culture have been instrumental in ensuring that the investors have a good perception of the region. Such factors are expected to play a key role in ensuring stable growth for the mining sector in the region thus fostering the demand for PPE in upcoming years.Key Questions this Study will Answer• Is the market growing, how long will it continue to grow, and at what rate?• Are the existing competitors structured correctly to meet customer needs?• How do the dynamics of the industry and regional diversities affect the PPE market?• How will the structure of the market change with time?• Are the products/services offered today meeting customer needs, or is additional development needed?
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