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Increasing exploration activities and rising investment in these activities by major mining companies in emerging economies is expected to drive the adoption rates for PPE in mining during the forecast period
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India and Indonesia are the main mining countries and accounts for majority of the revenues reported in the RoW region. Indonesia is a large producer of tin, coal, copper, gold, nickel, bauxite, and phosphatesIndia holds the second largest share in mining employment and accounts for an almost 50.0% share of the mining PPE market reported in the RoW. Poor regulatory enforcement and low compliance hinder revenue growth in the market.Private investments have been permitted within India to explore and exploit iron ore, copper, manganese, lead, chrome ore, zinc, sulphur, molybdenum, gold, tungsten ore, diamond, nickel, and platinum group of metals. Increasing private investment in the Indian mining sector is the main market driver, as it is likely to bring about betterment of the safety culture and penetration of higher quality products. Increasing exploration activities and rising investment in these activities by major mining companies in emerging economies is expected to drive the adoption rates for PPE in mining during the forecast periodRest of the World mining PPE market generated revenue of $ 327.7 million in 2018 and is expected to grow at an estimated CAGR of 7.3 % during the forecast period. The region is expected to generate revenue of $ 465.5 million by 2023.Countries included in Rest of World have shown rapid economic growth and are considered to be emerging markets which have attracted increasing foreign investment in the regionLiberalization of mineral policies and availability of cheap labor has been a major driving factor for rising investment in mining activities in the region.Even though the region has witnessed rising investment in mining sector , the work safety practices in the region are not yet developed. This provides lucrative opportunities for mining corporations to implement a robust work safety culture. This is expected to support the demand for mining PPE during the forecast period.Lack of developed infrastructure is expected to emerge as a major hurdle for mining projects Resource nationalism , social license to operate can hinder the availability of adequate financing options for mining projects . This can further affect the employment rates and negatively affect the revenue growth of PPE during the forecast period.Protective footwear, workwear and respiratory protection are expected to drive the revenue growth for PPE in mining during the forecast period.Karam Industries, Udyogi, 3M,Bullard, Mallcom Safety, Honeywell, Draeger, Halma India, Tritech, Subtronics India, Venus Safety , Bata Industrial are some of the major market participants in the market
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