North American Fall Protection Growth Opportunities

North American Fall Protection Growth Opportunities

Stringent Regulations and End user Safety Awareness to Foster Product Penetration

RELEASE DATE
05-Aug-2022
REGION
North America
Research Code: K783-01-00-00-00
SKU: PP00224-NA-MT_26773
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Description

The North American fall protection market generated $820.7 million in 2021. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% to $993.8 million in 2026, driven by regulatory updates, growth resurgence in end-use industries, better end-user safety awareness, and greater adoption of improved fall protection equipment.

The top 5 participants in the market—3M, Honeywell, MSA, Guardian, and FallTech—accounted for 68.0% to 78.0% of the total fall protection market revenue in 2021. Fall protection manufacturers are trying to gain market presence through Mergers and Acquisitions (M&As) as well as organic growth.

The construction industry accounted for 32.7% of the revenue in 2021 and is expected to remain a major end-user segment for fall protection equipment and services. Other major end-use industries are manufacturing (21.4%), telecom (13.4%), utilities (13.0%), and oil and gas (9.8%).

Wind energy is expected to witness the highest revenue growth with a CAGR of 6.3%. This is because of the large number of ongoing and expected on-shore and offshore wind farm projects in the region. According to the Bureau of Labor and Statistics (BLS), 'wind turbine service technician' is expected to be the second-fastest growing occupation in the US between 2020 and 2030.

Soft goods generated the highest revenue share of 41.6% in 2021. This segment is also expected to grow more than the average, given the high demand for soft goods in end-user industries, such as construction, manufacturing, and utilities. The higher adoption of soft goods is also because of the relatively cost-effective prices of soft goods.

The services segment is expected to witness high growth at a CAGR of 5.6%, driven by increasing end-user safety awareness, enhanced regulatory enforcements, and increasing investments in training facilities by major end-user industries to reduce fall injuries.

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on North American Fall Protection Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Scope of Analysis

Segmentation

Key Competitors*

Key Competitors (continued)*

Growth Metrics

Distribution Channels

Growth Drivers

Growth Restraints

OSHA—Most Frequently Cited Violations

Occupational Injuries

Occupational Injuries (continued)

Macroeconomic Aspects—North America

Market Overview—Major Standards and Regulations

Market Overview—Major Standards and Regulations (continued)

Regulatory Compliance Overview

Regulatory Compliance Overview (continued)

Regulatory Compliance Overview (continued)

Regulatory Compliance Overview (continued)

Regulatory Compliance Overview (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Product

Percent Revenue Forecast by Product

Revenue Forecast Analysis

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Revenue Forecast Analysis by Industry Vertical (continued)

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast Analysis by Country

Competitive Environment

Notable Merger and Acquisitions Activity

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast—Soft Goods

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast Analysis

Revenue Forecast by Country

Forecast Percent of Revenue by Country

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis by Industry Vertical

Competitive Environment

Revenue Share

Revenue Share Analysis

Key Statistics

Growth Metrics

Revenue Forecast

Revenue Forecast by Product

Forecast Percent of Revenue by Product

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis

Key Statistics

Growth Metrics

Revenue Forecast

Revenue Forecast by Product

Forecast Percent of Revenue by Product

Revenue Forecast by Industry Vertical

Forecast Percent of Revenue by Industry Vertical

Revenue Forecast Analysis

Growth Opportunity 1: Digital Solutions for Enhanced Compliance Control

Growth Opportunity 1: Digital Solutions for Enhanced Compliance Control (continued)

Growth Opportunity 2: Mergers and Acquisitions for Market Penetration

Growth Opportunity 2: Mergers and Acquisitions for Market Penetration (continued)

Growth Opportunity 3: Regulatory Updates to Boost End Users’ Fall Protection Adoption

Growth Opportunity 3: Regulatory Updates to Boost End-Users’ Fall Protection Adoption (continued)

Partial List of Companies in “Others”

List of Participants by Product Segment

List of Participants by Product Segment (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

The North American fall protection market generated $820.7 million in 2021. It is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% to $993.8 million in 2026, driven by regulatory updates, growth resurgence in end-use industries, better end-user safety awareness, and greater adoption of improved fall protection equipment. The top 5 participants in the market—3M, Honeywell, MSA, Guardian, and FallTech—accounted for 68.0% to 78.0% of the total fall protection market revenue in 2021. Fall protection manufacturers are trying to gain market presence through Mergers and Acquisitions (M&As) as well as organic growth. The construction industry accounted for 32.7% of the revenue in 2021 and is expected to remain a major end-user segment for fall protection equipment and services. Other major end-use industries are manufacturing (21.4%), telecom (13.4%), utilities (13.0%), and oil and gas (9.8%). Wind energy is expected to witness the highest revenue growth with a CAGR of 6.3%. This is because of the large number of ongoing and expected on-shore and offshore wind farm projects in the region. According to the Bureau of Labor and Statistics (BLS), 'wind turbine service technician' is expected to be the second-fastest growing occupation in the US between 2020 and 2030. Soft goods generated the highest revenue share of 41.6% in 2021. This segment is also expected to grow more than the average, given the high demand for soft goods in end-user industries, such as construction, manufacturing, and utilities. The higher adoption of soft goods is also because of the relatively cost-effective prices of soft goods. The services segment is expected to witness high growth at a CAGR of 5.6%, driven by increasing end-user safety awareness, enhanced regulatory enforcements, and increasing investments in training facilities by major end-user industries to reduce fall injuries.
More Information
Author Nils Schaefer
Industries Personal Protective Equipment
No Index No
Is Prebook No
Keyword 1 North American Fall Protection Market
Keyword 2 Fall Protection Equipment Market
Keyword 3 Global Fall Protection Equipment
Podcast No
WIP Number K783-01-00-00-00