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European Markets for Protective Gloves
Frost & Sullivan, Jan 2008, Pages: 147
Increasing End-user Focus on Safety and Product Innovation Support Expansion of European Protective Gloves Markets
The European industrial glove market is growing at a rapid pace, and has registered dramatic change over the past few years. More user-friendly gloves are gaining popularity, as are gloves that provide a wider range of protection to the wearer. As the market expands, it is witnessing unprecedented competition.
'The primary reason for growth in the western European industrial protective glove market is increasing end-user awareness about safety,' states the analyst of this research. 'End users are aware of their rights in terms of being protected at work, even as companies are keen to prevent law suits arising from potential injuries due to lack of protection.' End users are also demanding innovation, compelling manufacturers to constantly innovate and keep up with the competition. This factor is also driving market expansion. Despite such positive trends, there are other issues that threaten to limit market revenues. For instance, cheap imports from East Asia are restraining growth in the market. This is being accompanied by a decline in the Western European manufacturing base, which is moving towards the east.
Enhanced Market Penetration and Building High Brand Equity Key to Success
The growth and sheer size of the protective gloves market has taken many industry participants by surprise. The market will continue to grow under the influence of legislation and litigation from end users. Although there are many competitors within the marketplace, there is healthy competition among branded manufacturers, as they face the same major challenges emerging from East Asia.
Most companies favour market penetration to stimulate growth in the market place. This approach is generally less risky because incumbents are familiar with the market as well as available product offerings. Product differentiation is not enough and innovation is not the answer, although end users and distributors alike are pushing for innovation. 'The key is to reach end users and create push and pull strategies by utilising distributors, while not solely relying on them,' advises the analyst. 'Creating high brand equity should be every glove manufacturer's priority, accompanied by top-of-mind awareness in end-user markets.' Companies also have the option of expanding geographically, or diversifying into other personal protective equipment (PPE) markets, provided the right circumstances for entry exist. However, the latter strategies come with higher risk.
This Frost & Sullivan research service titled European Markets for Protective Gloves provides growth forecasts for the market from 2007 to 2014. Analysis of the industry is provided based on the type of glove, fabric used and hazards faced in use. It also provides a detailed discussion of market share in the relevant segments. In this research, Frost & Sullivan's expert analysts thoroughly examine the market for gloves made by all major manufacturing techniques, including support, unsupported, knitted and cut/sewn. It also analyses the most important special types of protective gloves, such as electrical insulation and anti-vibration gloves.
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