Innovative product development and use of eco-friendly materials will trigger market growth, finds Frost & Sullivan
SANTA CLARA, California, Oct. 1, 2019 /PRNewswire/ -- Frost & Sullivan's recent analysis, North American (NA) Industrial Hand Protection Market, reveals that new product innovations, heightened emphasis on regulations, use of eco-friendly materials, and the incorporation of new material technology to manufacture products that provide a better fit, dexterity, and comfort will play a pivotal role in the adoption of industrial hand protection gloves across key end-user industries. Frost & Sullivan expects the mature NA hand protection market to grow at a compound annual growth rate (CAGR) of 3.1% to reach $2.853.5 million by 2023.
"Market participants are working closely with technology providers to develop gloves that match particular needs for specific end-use applications. For example, the market has witnessed the introduction of gloves for the oil and gas industry that offer a high level of protection against impact temperature and abrasion and also facilitate better grip, especially on wet and oily surfaces," said Arun Ramesh, Research Manager, Personal & Protective Equipment, Frost & Sullivan. "To harness growth prospects and achieve a competitive advantage in a consolidated market, manufacturers should invest in enhanced material technology for innovative product development and differentiation."
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"Quality, ergonomics, and cost are the key competitive factors in the regional market. Market participants should collaborate with end users through voice-of-customer forums to develop new products that help address unmet needs, enhance brand loyalty, and aid customer retention," observed Ramesh.
Further strategic imperatives for success that vendors should tap into include:
- Developing vend-packed gloves that can accommodate different styles of gloves.
- Harnessing technology development to incorporate new materials for product differentiation.
- Focusing on new regulations that will propel the need for specific types of gloves. For instance, the glove impact standard will create pressure for gloves that offer protection against dorsal impact.
- Advancing the development of multi-functional gloves that provide a combination of cut and chemical protection or gloves that offer durability, along with flexibility and breathability.
"Low-cost imports have, in some cases, caused end users to compromise on the safety of the workforce by acquiring products that do not provide adequate safety," said Ramesh. "However, recent upgrades in regulations such as the American National Standards Institute (ANSI)/International Safety Equipment Association (ISEA) 105-2016 (which enhances the level of cut protection) and ANSI/ISEA 138 (which focuses on dealing with back-of-hand (dorsal) impact protection) have helped safety managers select proper equipment. They have also raised the standards of safety across end-use industries."
The North American Industrial Hand Protection Market, Forecast to 2023 analysis explores the factors and trends that have shaped the NA industrial hand protection landscape, the challenges that lie ahead, and the opportunities that can be tapped. The market analysis is segmented into mechanical, chemical, thermal, and special protection gloves with end-user industries focusing on construction, manufacturing, mining, oil and gas, transport, and others, including utilities, food, general maintenance, agriculture, and forestry.
North American Industrial Hand Protection Market, Forecast to 2023 is part of Frost & Sullivan's global Future of Personal Protective Equipment (PPE) Growth Partnership Service program.
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North American Industrial Hand Protection Market, Forecast to 2023
SOURCE Frost & Sullivan