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Global Mining Industry Personal Protective Equipment Markets
Frost & Sullivan, Nov 2010, Pages: 256
This research service titled Global Mining Industry Personal Protective Equipment Markets provides an in-depth analysis of different product segments in the personal protective equipment (PPE) markets on a global scale. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: head above-the-neck protection, respiratory protection, protective gloves, protective footwear, fall protection, and gas detection.
Market Overview
Increasing Demand for Mineral Commodities Bodes Well for Employment and Personal Protective Equipment Sales in the Mining Industry
Expanding mining operations globally and the rising focus on safety standards have provided an impetus to the global mining industry PPE markets. There has been an influx of foreign and national investments and an increase in employment rates in the industry. This state of affairs is expected to persist with high demand for commodities from Brazil, Russia, India, and China (BRIC). The escalating awareness among both employers and employees about the importance of PPE has bolstered the sales of new equipment. The increase in awareness and enforcement of health and safety standards by local governments has also assisted to ease the pressure on the markets caused by the economic downturn. The drop in the demand for commodities led to a cut in global mining activities, due to which, companies incurred losses. This compelled mining companies to slash their budgets for many activities including purchase of PPE. A reduction in the overall employment scenario also affected the PPE industry. A gradual increase in lower-priced imports put immense pressure on products in the U.S., Canadian, and Australian markets and intensified the price wars among local manufacturers. Nevertheless, on the back of the economic recovery, the markets for metallurgical coal, gold, iron ore, copper, and other metal and mineral commodities are rapidly covering lost ground, implying a rise in employment and therefore, the demand PPE.
Even though the markets for PPE are expanding, health and safety standards in high-potential regions such as China, South America, South Africa, and other developing nations are generally low. There is little importance attached to health and safety, resulting in poor compliance and usage of PPE. However, this situation is changing, with the governments of many regions passing stringent safety regulations. 'Government initiatives aimed at improving mine safety will play a crucial role in increasing PPE compliance in the mining industry,' says the analyst of this research. To further consolidate their market advantage, participants must constantly look to innovate and provide products that deliver both price and performance value. In an extremely price-sensitive market in already straitened circumstances, mining companies are looking to purchase products that offer the best value for their money. End users desire more innovative solutions that meet their needs in addition to providing value.
'For instance, technological advancements in the relatively mature hearing protection market (ear muffs that incorporate active noise reducing (ANR) technologies) are now attracting a lot of interest among certain mining industries,' notes the analyst. 'The introduction of innovative products that are advanced in terms of comfort, performance, and functionality are likely to phase out existing ones, catalyzing the growth of the mining industry PPE market.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Head protection
- Eye protection
- Hearing protection
- Respiratory protection
- Protective gloves
- Protective footwear
- Fall protection
- Gas detection
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