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Technavio’s market research analyst predicts the global safety harness market to grow steadily at a CAGR of above 7% by 2021. One of the primary drivers for this market is the increase in demand from the wind energy industry. Fall protection is a crucial aspect that has been adopted by the wind energy industry to enhance the safety of workers. A full body harness is the most common equipment that is used for fall protection in the wind energy industry. Occupational safety and health administration (OSHA) mandates the protection of workers from falls when working at heights more than four feet. Working above these elevations is common in the wind industry. Hence, compliance with OSHA becomes mandatory. It has been observed that the wind energy industry has witnessed an exponential growth in the past few years, this, in turn, will augment growth in the global safety harness market during the forecast period.
In terms of geography, North America accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The key factors contributing to the growth of the safety harness market in North America are the presence of top vendors in the US and strict implementation of regulations regarding the safety of workers who work in heights. Stringent worker safety regulations and the high cost of worker compensation in case of injuries have facilitated the greater demand of safety harnesses. For instance, the OSHA mandates the use of safety harness in construction and various other industries that are prone to hazards. This has made North America, especially the US, the innovation hub for the safety harness, which in turn will propel the growth of the global safety harness market in the coming years.
The global harness market is getting highly consolidated due to an increasing number of mergers and acquisition. Competition is intense in the body harness market as there are several fall protection equipment vendors that are competing to gain a greater market share. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are the significant risks for vendors. In order to survive and succeed in this intensely competitive body harness market, it is imperative for vendors to distinguish their product and service offerings through a clear and unique value proposition
Leading vendors in the market are –
Other prominent vendors in the safety harness market include Acme Safety, BUCKINGHAM MANUFACTURING, Petzl, Pigeon Mountain Industry, P&P Safety, Rigid Lifelines, SKYLOTEC, and Ultra Safe.
During 2016, the industrial harness segment dominated the safety harness market and accounted for a major part of the overall market share. Safety harnesses are commonly deployed in industries such as oil and gas, construction, and manufacturing. Factors such as the high risk of accident in industries and strict government regulations in the industrial sector are the key contributors to the dominance of this segment in the body harness market.
In this market study, analysts have estimated the construction industry to dominate the safety harness market during the forecast period. Factors such as the high rate of fall and the rapid growth of the construction industry are the major attributors to the rise of this segment in the body harness market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market landscape
PART 07: Market segmentation by application
PART 08: Market segmentation by end-user
PART 09: Geographical segmentation
PART 10: Decision framework
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
Tags: fall protection, safety glasses, oil and gas industry, oil and gas companies, energy industry trends, power market analysis,
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