Fall-protection equipment use predicted to grow
Inadequate awareness among workers about different fall protection products and their application is one of the factors that have considerably restrained the market for this type of equipment, according to analysis from Frost & Sullivan (www.materials.frost.com) – North American Fall Protection Equipment Market. The study analyzed the North American (United States and Canada) fall protection equipment market for the period 2010 to 2017. The report suggests that to increase product acceptance, equipment companies should conduct marketing campaigns and strategies related to fall protection awareness.
Compliance with health and safety regulations is an even greater problem as it has been low to moderate, and this has restricted growth of the market for fall protection equipment.
However, with regulatory bodies cracking down on non-compliant companies, the market for fall protection gear is set to accelerate. More stringent enforcement of safety regulations by the government, oil and gas commissions, the Occupational Safety and Health Act (OSHA), American National Standards Institute (ANSI), and Canadian Standards Association (CSA), is expected to continue during the next five to seven years.
“Government regulators form industry standards across the North American fall protection equipment market by emphasizing the need for personnel working in an unprotected area to wear fall arrest equipment,” said a Frost & Sullivan Research Analyst. “As the legislation becomes more rigorous, the number of workers affected by the requirements will increase, giving a boost to equipment sales.”
The study shows that revenues were just over $450 million in 2010 for this market and estimates that it will reach about $670 million in 2017, which is a compound annual growth rate of 5.7 percent.
It is expected that greater knowledge of safety regulations will prompt companies to invest in additional fall protection products for the employees who are at risk of fall injuries.
There is also an increasing interest among end-users for first-hand expertise and single-source supply.
“Novel technologies and improvements in ergonomics, comfort and convenience are expected to increase equipment reliability and use,” according to the Frost & Sullivan Research Analyst.
An aging labour force and obsolete infrastructure has not only intensified the requirement for fall protection but also heightened the competition. Participants range from small companies focusing on a single type of equipment to large multinational corporations that manufacture and supply many types of sophisticated safety products.
Tighter governmental control, higher penalties for noncompliance and fear of liability will continue to drive the market.
In the end, greater safety will be the net result. Injuries will be reduced and lives saved. And that is good for everyone.