Global PPE Market for Oil and Gas Industry 2017-2021

Overview of the global PPE market for the oil and gas industry

As per the Technavio’s market research report, the global PPE market for the oil and gas industry is expected to grow at steady rate and post a CAGR of close to 8% during the forecast period. The rising enforcement of occupational safety regulations will drive the growth prospects for the global personal protective equipment (PPE) market for the oil and gas industry until the end of 2021. The market is witnessing a high rate of adoption of PPE equipment due to the growing number of occupational injuries and fatalities and stringent workplace regulations by the government. For instance, Occupational Safety and Health Act for laborers was introduced by the US government in 1970 to ensure the provision of a safe and healthy work environment. Occupational Safety and Health Administration (OSHA) provides a portal for the worker's safety, covers both the private and public sector employers, and addresses any employee grievances, which will fuel the demand for personal protective equipment in the oil and gas industry.

The provision of smart features in PPE will drive the growth prospects for the global PPE market for the oil and gas industry for the next four years. Since smart solutions in PPE provide timely backups of worker data, monitor the tasks carried out by the workers, and ensure worker protection, the coming years will witness a growing trend for equipping PPE with sensors and other wireless technologies such as Bluetooth.

Competitive landscape and key vendors

The global PPE market for the oil and gas industry is highly competitive, fragmented, and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly competing against each other based on factors such as performance, innovation in design and functionality, quality, compliance with key regulations, provision of support services, and cost.

Key vendors in this market are -

• 3M
• Honeywell
• MSA

Other prominent vendors in the market include Ansell, CarbonX, Drägerwerk, DuPont, Ergodyne, Magid Gloves, MCR Safety, Moldex, Portwest, Scott Safety, and VersarPPS.

Segmentation by product and analysis of the PPE market for the oil and gas industry

• Head, eye, and face protection
• Fall protection
• Foot and Leg Protection
• Protective clothing
• Hand and arm protection
• Respiratory protection
• Hearing protection

The head, eye, and face protection, and fall protection segments accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. The products in this segment range from safety spectacles to welding shields and face shields and incorporate cushioned materials at all points of contact and soft material-based nosepieces for enhanced comfort, which in turn, boosts the demand for these products.

Segmentation by geography and analysis of the PPE market for the oil and gas industry

• Americas
• APAC
• EMEA

According to this market research report, the Americas accounted for the majority shares and domiated the market during 2016. Though the decreasing prices of oil and gas will result in a reduction in this region’s market shares, it will continue to dominate the market during the predicted period as well.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global personal protective equipment (PPE) market for the oil and gas industry?
• What are the key market trends impacting the growth of the global personal protective equipment (PPE) market for the oil and gas industry?
• What are the challenges to market growth?
• Who are the key vendors in the global personal protective equipment (PPE) market for the oil and gas industry?
• What are the market opportunities and threats faced by the vendors in the global personal protective equipment (PPE) market for the oil and gas industry?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global personal protective equipment (PPE) market for the oil and gas industry?

Technavio also offers customization on reports based on specific client requirement.