Sep 12, 2022   SOURCE: BusinessWire

Outlook on the Industrial Workwear Global Market to 2028 - Increasing Number of Industrial Accidents are Driving Growth - ResearchAndMarkets.com

The "Industrial Workwear Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Category, and End Use" report has been added to ResearchAndMarkets.com's offering.

The industrial workwear market is expected to grow from US$ 10,956.69 million in 2021 to US$ 16,697.49 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2022 to 2028.

Cloths, helmets, gowns, and glasses are a few examples of industrial workwear used by workers to ensure safety while working. Good workwear helps increase the productivity as workers feels safe and work efficiently. Moreover, some industrial jobs demand certain clothing and equipment to offer a safe and secure environment for workers for performing critical industrial tasks. Over the past few years, factors such as trending work attires and rising industrial safety concerns from radiation, heat, and chemicals surged the demand for workwear.

Based on end use, the industrial workwear market is segmented into construction, oil & gas, chemicals, automotive, manufacturing, and others. The manufacturing segment accounted for the largest share of the market in 2020. However, the oil & gas segment is expected to register the highest CAGR during the forecast period.

The oil & gas industry workers often face the risk of fire and explosion due to the ignition of flammable vapors or gases. Hence, companies demand flame-resistant and insulated industrial workwear to protect workers from fire and explosion-related injuries. Moreover, industrial workwear manufacturers are continuously adopting new business expansion strategies such as mergers, acquisition, and collaboration to meet the workers' demand globally. On February 8, 2022, Tyndale USA expanded its services in Canada to cater to the demand for fire-resistance top wear and bottom wear from Canada-based oil & gas companies. Such strategic adoption by players is driving the demand for industrial workwear in the oil & gas industry.

Based on region, the industrial workwear market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2020, North America held the largest market share. However, Asia Pacific is estimated to register the highest CAGR during the forecast period. Increasing cases of occupational injuries and rising number of surgeries and occupational deaths propel the demand for safety apparel and increase expenditure on work safety by end-use industries, including oil & gas, food processors, manufacturing, automotive, mining, and agriculture, in North America.

In addition, stringent government regulations in the region regarding the safety of working professionals in factories and on-site workers, coupled with penalties for non-compliance with the standards, augmented the adoption of industrial workwear. The rise in demand for industrial workwear, mainly from oil & gas, chemical, construction, mining, and other industries, is fueling the market growth in the region. Workers across these industries are exposed to various risks owing to the nature of the job or task. Therefore, these industries require functional and high-performance protective workwear, which can endure extremities at the workplace.

Market Dynamics

Drivers

  • Increase in Number of Industrial Accidents
  • Introduction of Stringent Government Solutions

Restraints

  • Growing Adoption of Industrial Automation

Opportunities

  • Rising Demand from Emerging Economies

Future Trends

  • Increasing Product Innovation with Latest Technologies

Companies Mentioned

  • Carhartt, Inc.
  • Aramark
  • Alsico group
  • A. LAFONT SAS
  • Honeywell International, Inc.
  • Hultafors Group AB
  • Lakeland Industries, Inc.
  • VF Corporation
  • Ansell Ltd.
  • Mustang Workwear

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