Global Hand protection equipment Market Insights Forecasts to 2030
- The Global Hand Protection Equipment Market Size was valued at USD 30.0 Billion in 2021.
- The market is growing at a CAGR of 8.1% from 2021 to 2030
- The global Hand protection equipment Market is expected to reach USD 60.47 Billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global Hand protection equipment Market is expected to reach USD 60.47 Billion by 2030, at a CAGR of 8.1% during the forecast period 2021 to 2030. The demand for Hand protection equipment is increasing the product's effectiveness in preventing the spread of COVID-19 in a variety of end-use industries and the growing concern about hand cleanliness are both credited with driving up demand in the market. Companies have created safety regulations and given workers' safety first priority in an effort to prevent workplace dangers which ids adding the requirement of hand protection equipment in the market.
Hand protection equipment that describes both durable and non-durable hand safety gear, such as gloves, finger guards, and arm coverings, that are intended to shield the hands and arms from potential dangers like the ingestion of hazardous chemicals through the skin, thermal or chemical burns, electrical hazards, bruising, abrasions, cuts, punctures, fractures, or amputation. Employees are required to wear hand protection devices to shield them from hazards in the workplace. The hand protection equipment market is anticipated to be driven by the growing awareness among industry players regarding the significance of worker security and safety at workplaces as a result of the strict laws. Since infectious disease transmission occurs frequently in the healthcare sector, people's preferences for better hygiene goods, such as hand protection gear, are shifting. The demand for hand protection equipment goods, such as disposable and durable gloves, is rising as the prevalence of infectious diseases rises. Employers now use hand protection equipment to shield their personnel from numerous health hazards and infections due to strict government laws regulating the safety of doctors, patients, and other hospital workers, as well as severe fines for non-compliance. Companies have created safety regulations and given workers' safety first priority in an effort to prevent workplace dangers. In the form of arbitrated settlements or compensation, this has helped limit the detrimental effects on overall operational expenses. The healthcare sector now needs more hand protection equipment due to the growing prevalence of infectious diseases. To increase their market penetration, the product's manufacturers employ a number of techniques, such as joint ventures, mergers, and acquisitions. A major trend that is becoming more and more popular in the hand protection equipment market is the expansion of production. Since there has been a rapid increase in demand for gloves from medical consumers, businesses are expanding their production. Additionally, the COVID-19 pandemic's interruption of the supply chain has prompted governments all over the world to develop adequate domestic production capabilities for emergency goods like medical gadgets, PPE, and others.
Global Hand Protection Equipment Market Report Coverage
|Market Size in 2021:||USD 30.0 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||8.1%|
|2030 Value Projection:||USD 60.47 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||147|
|Segments covered:||By Product, By Raw Material, By End-use, by Region|
|Companies Covered:||Top Glove Corporation Bhd, Holdings Hartalega Berhad, Superior Gloves, Adenna LLC, MCR Safety, Atlantic Safety Products, Inc., Ammex Corp., Corp. Kimberly-Clark, Halyard Health, Inc., and Sempermed USA, Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global Hand protection equipment based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Hand protection equipment Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Hand protection equipment Market sub-segments.
- In 2021, the Disposable gloves segment dominated the market with the largest market share of 40.7% and market revenue of 12.21 Billion.
Based on the Product, the global Hand protection equipment Market is categorized into Disposable, Durable, and smart. In 2021, the Disposable gloves segment dominated the market with the largest market share of 40.7% and market revenue of 12.21 Billion. The sudden increase of COVID-19 cases has increased demand for disposable gloves while also reducing supplies. The need for the Disposable gloves is driven by the rising incidence of illnesses linked to hospital settings, such as COVID-19 and the swine flu, as well as rising demand for disease control. Disposable gloves are expected to provide a price advantage over durable gloves in industrial operations with a limited duration. The COVID-19 outbreak has nearly tripled the need for gloves in the market.
- In 2021, the Healthcare segment accounted for the largest share of the market, with 62% and a market revenue of 18.5 Billion.
Based on the End-Use, the Hand protection equipment Market is categorized into manufacturing, transportation, mining, chemicals, food, pharmaceuticals, healthcare, oil & gas, construction and others. In 2021, the Healthcare segment accounted for the largest share of the market, with 62% and a market revenue of 18.5 Billion. As workers in the Healthcare business come into touch with dangerous chemicals, solvents, and medications on the job, it is no surprise that this end-use category is the largest. For the protection of the employee's health, this segment completely depends on the market, leading to an increase in product demand in this industry.
- In 2021, the Natural Rubber Gloves segment accounted for the largest share of the market, with 37.3% and market revenue of 11.19 Billion.
Based on the Raw Material, the Hand protection equipment Market is categorized into Nitrile Gloves, Neoprene, leather gloves, Natural Rubber/Latexes and Others. In 2021, the Natural Rubber Gloves segment accounted for the largest share of the market, with 37.3% and market revenue of 11.19 Billion. There is increase in sale of Natural Rubber because Gloves they are adaptable and easy to wear and are perfect for handling delicate applications, like medical procedures and operations, the demand for Natural Rubber Gloves goods was relatively high in the market.
Regional Segment Analysis of the Hand protection equipment Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global Hand protection equipment Market, with a market share of around 33.1% and 9.93 Billion of the market revenue in 2021.
- North America emerged as the largest market for the global Hand protection equipment Market, with a market share of around 33.1% and 9.93 Billion of the market revenue in 2021. North America is expected to be the largest market for Hand protection equipment owing to the increasing consumer demand for Hand protection equipment coupled with the rising trend of Hand protection equipment for insurance proof purposes. Most countries have a high accident rate and unsafe road conditions, which increases the demand for Hand protection equipment s. Furthermore, most of the countries in the North America region have strict laws for the use of Hand protection equipment s, adding impetus to the growth of the market over the forecast period.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. Furthermore, Healthcare and Food market increase also contribute to the region’s growth. Hand protection equipment are popular in this region as most of the cities are heavily congested, increasing the chances of contagious diseases.
The report offers the appropriate analysis of the key organizations/companies involved within the global Hand protection equipment Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Top Glove Corporation Bhd
- Holdings Hartalega Berhad
- Superior Gloves
- Adenna LLC
- MCR Safety
- Atlantic Safety Products, Inc.
- Ammex Corp.
- Corp. Kimberly-Clark
- Halyard Health, Inc.
- Sempermed USA, Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In December 2021- Top Glove Corp. Bhd. announced boosting its presence in key strategic markets, utilising technological advancements to drive product innovation & production efficiency, and expanding its product line to include complementary & other non-glove products in order to increase production capacity to meet the demand for gloves around the world.
- In August 2020- A distribution agreement was reached between Ansell Ltd. and OneMed, a supplier of medical equipment and support services with a Nordic distribution network.
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global Hand protection equipment Market based on the below-mentioned segments:
Global Hand protection equipment Market, By Product
Global Hand protection equipment Market, By Raw Material
- Nitrile Gloves
- Leather gloves
- Natural Rubber/Latexes
Global Hand protection equipment Market, By End-Use
- Oil & gas
Global Hand protection equipment Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Hand protection equipment market?As per Spherical Insights, the size of the Hand protection equipment market was valued at USD 30.0 billion in 2021 to USD 60.47 billion by 2030.
What is the market growth rate of the Hand protection equipment market?The Hand protection equipment market is growing at a CAGR of 8.1% from 2021 to 2030.
Which country dominates the Hand protection equipment market?North America emerged as the largest market for Hand protection equipment.
Who are the key players in the Hand protection equipment market?Key players in the Hand protection equipment market are Top Glove Corporation Bhd, Holdings Hartalega Berhad, Superior Gloves, Adenna LLC, MCR Safety, Atlantic Safety Products, Inc., Ammex Corp., Corp. Kimberly-Clark, Halyard Health, Inc., and Sempermed USA, Inc.
Which factor drives the growth of the Hand protection equipment market?Increasing concerns about hand hygiene is expected to drives the market's growth over the forecast period.
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