Global Industrial Workwear Market to Expand at CAGR of 2.4% between 2019 and 2027
According to anew market report published by Industry Probe titled ‘Industrial Work wear Market(Product Type: Top Wear [Shirts, Sweatshirts, Jackets, Bibs, Caps, Rain wear,and Others], Bottom Wear [Trousers, Shorts, Rain wear, and Others), Overalls,and Footwear; End-use Industry: Oil & Gas, Construction, Manufacturing,Automotive, Chemicals, Hospitality, Logistics & Transportation, Mining, and Others; Fit Type: Men, Women, and Unisex; Distribution Channel: Online and Offline [Direct, Wholesaler, and Retailer]) – Global Industry Dynamics 2018-19,Trends and Forecast, 2020–2027’,the global industrial work wear market was valued at US$ 5,763.4 Mn in 2018 and is expected to expand at a CAGR of 2.8% from 2019 to 2027. Various factors, such as rapid urbanization and industrialization, rise in expenditure on safety products, and concerns about safety of employees in harsh working environment are expected to boost the global industrial work wear market in then ear future. Europe held a prominent share of the global industrial work wear market in 2018 followed by Asia Pacific and North America. Asia Pacific region is expected to be a key market for industrial work wear during the forecast period.Rapid industrialization, along with improving economic conditions in emerging countries is responsible for the demand for industrial work wear in developing countries.Rise in working age population and women workers in various industries is also expected to contribute to the growth of the market.
As per the report, augment in working age population globally has resulted in rise in demand for industrial work wear. Countries, such as India,China, Hong Kong, Brazil, Kuwait, Myanmar, etc., have the highest percentage of working age population, according to World Bank data. According to the Labor Bureau of India, India, on an average, is adding a labor force of 4.75 million per year to various sectors, such as real estate, construction, and in small enterprises. The Regional Human Development Report of the United Nations Development Programme (UNDP), on April 26, 2016, suggested that India wouldsur pass China in terms of number of working age people in the Asia Pacific region, by 2050. Demand for industrial work wear is expected to grow at an exponential rate due to increase in labor force in various industries globally.Expansion of automotive industry, chemical industry, oil & gas industry,etc., in China, where protective clothing is obligatory due to enforcement of safety norms, is driving the demand for industrial work wear.
Top wear industrial work wear are preferred by most end-use industries,as protective top wear clothing is an integral part of employee safety. Industrial work wear has highest adoption in the manufacturing sector, as these industries are labor-intensive, with stringent workplace safety policies. Thus, the demand for industrial work wear is anticipated to grow during the forecast period. In terms of fit type, the men segment accounted for a major market share of approximately 77% in 2018. The segment is expected to expand at a CAGR of 6.3%during the forecast period. Based on distribution channel, offline is likely to be the most attractive segment during the forecast period, as distributor and wholesalers are preferred by end consumers, owing to the choice of a wide range of products of several manufacturers. In terms of region, Europe holds a major share of the global industrial work wear market, followed by North America. The presence of prominent manufacturers coupled with extensive research &development activities in Europe is resulting in its dominance. Some of major players covered under the scope 3M, Hultafors Group, Ansell Ltd. Lakeland Inc., DuPont, Totally Work wear, First ads Kansas Group,VF Corporation, Honeywell International Inc, and Williamson-Dickie Manufacturing Co.
Originally published on- https://industryprobe21.wordpress.com/2020/05/12/global-industrial-workwear-market-to-expand-at-cagr-of-2-4-between-2019-and-2027-industry-probe/
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