Gas Masks Market to Witness Heightened Revenue Growth in the Next Decade
Added: (Tue Jan 01 2019)
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Industries exploring their potential through complex manufacturing processes continue to face strict opposition from environmental regulatory authorities. The “less eco-friendly” and “more physically hazardous” nature of these processes is what comes in the way of maintaining an environmental equilibrium. When it comes down to workers and industrial professionals being exposed to toxic gasses, gas masks are being actively deployed at such manufacturing plants. Fortunately, rising implementation of automation in manufacturing units has limited the presence of laborers, and with it, curbed the need for gas masks. According to Persistence Market Research, the global demand for gas masks is likely to lose traction in the years to come. In its latest report, Persistence Market Research estimates that by the end of 2026, the global gas masks market will have reached a market value of a little over US$ 2,800 Mn.
Considering this value assessment, the global market for gas masks, which is presently valued at US$ 2,238 Mn, will incur a much decelerated growth and exhibit a value CAGR of just 2.3%. The report, titled “Gas Masks Market: Global Industry Analysis and Forecast, 2016-2026,” has enlisted several factors that will impact the market’s growth during the ten-year forecast period.
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Firstly, government-regulated mandates that compels industries to provide highest safety to their employed workforce indirectly prompts the adoption of gas masks as they are observed to be foremost tools used in precautionary measures to avoid respiratory damage. Advent of innovative gas masks, rising industrialization, and growing awareness regarding benefits of using gas masks are other factors impacting the demand for gas masks. However, the report also predicts that in years to come the demand for gas masks will diminish as hazardous industrial procedures will be replaced by eco-friendly alternatives, and human workforce will remain less exposed to life-threatening situations due to rising adoption of industrial automation solutions.
Companies such as 3M Company, Mine Safety Appliances, Johnson Controls International Plc., Dragerwerk AG & Co. KGaA, Avon Protection Systems, Inc., AirBoss Defence Inc., and Honeywell International Inc. are recognized as leading manufacturers of gas masks across the globe. The report further reveals that out of several gas masks products available in the market, the demand for powered air purifying respirators (PAPRs) and self-contained breathing apparatus (SCBA) is expected to remain higher through 2026. More than 80% of the market’s revenues throughout the forecast period will be accounted by the global sales of PAPRs and SCBAs.
According to the report, application of gas masks will remain majorly concentrated in industrial sectors, military defense & aerospace, and in healthcare settings across the globe. The report also anticipates Europe to remain the largest market for gas masks in the world, procuring nearly 40% of global revenues. On the other hand, the Asia-Pacific gas masks market is estimated to exhibit revenue growth at 2.8% CAGR.
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