Improving Construction Industry and Rising Female Workforce are Boosting Revenues for the Alpine PPE Market
This research service analyses the Alpine personal protective equipment (PPE) market covering Austria and Switzerland. The main segments covered by product type are above the neck (including head protection, hearing protection, eye and face protection), foot protection, hand protection, protective apparel, respiratory protection, gas detection, and fall protection.
Work safety policies are on the rise and are now being regulated more strictly to ensure proper compliance. The Alpine PPE market generated a revenue of €400.4 million in 2018. This market is expected to experience a moderate growth rate, generating €456.2 million by 2023, at a compound annual growth rate (CAGR) of 2.6% from 2018 to 2023.
Automotive, chemicals, pharmaceuticals, MEM, and construction industries are helping generate higher demand for PPE in the region. Improving employment numbers, especially women workforce, is also driving larger revenues in the market. Hand protection, protective footwear, and protective apparels are the largest product segments in the Alpine PPE market, accounting for 72.0% of the total revenues generated in 2018. The market is expected to show similar trends in the forecast period.
Austria is a well-developed industrialised country. Apart from its main service sector, the key industries are mechanical engineering, steel construction, real estate, chemicals, and vehicle and parts manufacturing. It also has a few natural resources such as iron ore and non-ferrous metals. Constant growth in the industrial sectors also requires supplementary imports in the country. The construction sector has rebound in the country with a rising population and increasing demand for houses, suggesting a favourable condition for labours. With a strong increase in disposable income, the outlook for private sector looks promising. High capacity utilisation suggests that PPE investment will remain firm. Switzerland employs the largest number of people in chemicals and pharmaceuticals. Chemicals and pharmaceuticals industry directly employs 70,000 people, with all major global companies having their setups in the country. Chemicals, pharmaceuticals, MEM, construction, general manufacturing, textile, and agriculture are important end-user applications for the PPE market in Switzerland.
As the Alpine market is one of the safety-conscious markets, it has high acceptance for innovative products. Hence, manufacturers offering premium products are well adopted in the region Revenue growth is fuelled by improving construction industry, decreasing the unemployment rate, increasing participation of women across industries, and rising regulations to improve safety and health of workers in the region. All these factors contribute to expected market growth at a CAGR of 2.6% from 2018 to 2023.
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