DUBLIN, Sept. 27, 2022 /PRNewswire/ -- The "North American Fall Protection Market Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
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% to 78% 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%), 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.
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on North American Fall Protection Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- Key Findings
- Scope of Analysis
- Segmentation
- Key Competitors
- Growth Metrics
- Distribution Channels
- Growth Drivers
- Growth Restraints
- OSHA - Most Frequently Cited Violations
- Occupational Injuries
- Macroeconomic Aspects - North America
- Market Overview - Major Standards and Regulations
- Regulatory Compliance Overview
- 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 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
3. Growth Opportunity Analysis - Soft Goods
- 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
4. Growth Opportunity Analysis - Hard Goods
- 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
5. Growth Opportunity Analysis - Installed Systems
- 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
6. Growth Opportunity Analysis - Access Systems
- 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
7. Growth Opportunity Analysis - Rescue Equipment
- 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
8. Growth Opportunity Analysis - Services
- 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
9. Growth Opportunity Analysis - US
- 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
10. Growth Opportunity Analysis - Canada
- 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
11. Growth Opportunity Universe
- Growth Opportunity 1: Digital Solutions for Enhanced Compliance Control
- Growth Opportunity 2: Mergers and Acquisitions for Market Penetration
- Growth Opportunity 3: Regulatory Updates to Boost End-users' Fall Protection Adoption
12. Appendix
Companies Mentioned
- 3M
- FallTech
- Guardian
- Honeywell
- MSA
- OSHA
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