USD 3.9 billion
Report ID:
SQSG20C2006 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
62
|Figures:
75
Safety Helmets Market size was valued at USD 4.2 Billion in 2023 and is poised to grow from USD 4.52 Billion in 2024 to USD 8.07 Billion by 2032, growing at a CAGR of 7.6% during the forecast period (2025-2032).
The demand for safety helmets is expected to increase over the forecast period, particularly in the mining, manufacturing, and construction industries due to the rising number of workplace head injuries. Construction safety helmet demand is likely to be driven by the market's anticipated strong growth as a result of the booming construction and infrastructure sectors. Furthermore, the market is anticipated to be driven by growing worker safety awareness in nations like China and India. Safety helmet use has increased dramatically in recent years thanks to strict regulations concerning employee safety in the U.S. and severe penalties for violating safety norms.
Workers are at risk of a variety of hazards on the job, including falling heavy objects on them, colliding with large objects, and falling from high structures. These kinds of dangers are challenging to eliminate with group protective equipment because of the nature of such works. In light of this, wearing safety helmets is the only practical way to guarantee employees' safety. Using the right kind of safety helmet is essential for successfully reducing the risk of accidents and injuries. When choosing a safety helmet, keep in mind that it must meet a number of performance requirements, such as offering maximum user comfort and protection from penetration.
US Safety Helmets Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.9 billion
Largest Segment
Hard Hats
Fastest Growth
Bump Caps
Growth Rate
7.6% CAGR
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Global safety helmets market is segmented based on the Product, Material, and region. Based on the Product, the Global Safety Helmets Market is segmented as Hard Hats, and Bump Caps. Based on Material, the Global Safety Helmets Market is segmented as Polyethylene, Acrylonitrile Butadiene Styrene, and Polycarbonate. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Safety Helmets Market Analysis by Product
Based on the Product, the safety helmets market is bifurcated into hard hats and bump caps. The market share that belongs to hard hats is the largest because of increased demand for type I hard hats in mining, manufacturing, and construction industries in various economies including Europe and North America, led the market and accounted for more than 86.2% of global revenue share in 2021. Additionally, it is anticipated that the ability of these hats to shield workers who are close to exposed electrical conductors from the electrical shock will support growth.
Safety Helmets Market Analysis by Material
Based on Material the safety helmets market is segmented into Polyethylene, Acrylonitrile Butadiene Styrene, and Polycarbonate. The Polyethylene (PE) category held the most market share. Because PE is a cheap material, PE helmets are more affordable than helmets made of other materials. This is expected to lead to the segment's dominance remaining constant throughout the forecast period. Acrylonitrile Butadiene Styrene (ABS) and Polycarbonate (PC) are also used in the production of safety helmets. The market is likely to be driven by growing worries about worker safety and manufacturers' initiatives to create safety helmets with the best possible head protection using the aforementioned materials. The ABS helmet market is expected to grow at the fastest rate due to characteristics like high thermal stability and durability that reduce the need for frequent product replacement.
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Asia Pacific is expected to control the safety helmets market share. In order to ensure worker safety, safety helmet use is increasing in the Asia Pacific region, and organisations like ASTM, ANSI, and ISO are taking more aggressive measures, which will probably have a positive impact on market growth. A significant increase in mergers and acquisitions, integration activities, and site relocations has also aided the industrial growth of the area. The increased production of safety helmets in developing countries like India, Vietnam, Thailand, and Malaysia is anticipated to drive the Asia Pacific market. The use of personnel safety equipment, such as safety helmets in new construction as well as renovation activities, is anticipated to increase in Europe as a result of low mortgage rates. The EU, OSHA, and ILO have all worked to prevent workplace accidents, which has increased the demand for safety helmets. Due to the existence of numerous manufacturing facilities there, Germany is one of the major consumers of safety helmets in Europe. According to Germany Trade & Invest, Germany is the most industrialized nation in Europe with a diverse economy, with the automotive industry serving as the primary sector. The demand for safety helmets is likely to increase due to the fast expansion of the automobile manufacturing industry, which will help to reduce workplace accidents and improve worker safety.
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Safety Helmets Market Driver
Safety Helmets Market Restraint
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Global safety helmets market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Safety Helmets Market Top Player's Company Profiles
Safety Helmets Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Safety Helmets Market Analysis, in terms of product, the market share that belongs to hard hats is the largest because of increased demand for type I hard hats in mining, manufacturing, and construction industries in various economies including Europe and North America, led the market and accounted for more than 86.2% of global revenue share in 2021. In terms of material, The Polyethylene (PE) category held the most market share. Because PE is a cheap material, PE helmets are more affordable than helmets made of other materials.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 4.2 Billion |
Market size value in 2032 | USD 8.07 Billion |
Growth Rate | 7.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Safety Helmets Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Safety Helmets Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Safety Helmets Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Safety Helmets Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG20C2006
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