Personal Protective Gear Industry Will Hike to $7.2 Billion by 2012
A new report from SBI, entitled Personal Protective Equipment in the U.S., forecasts the U.S. Personal Protective Equipment (PPE) market will hit $7.2 billion by 2012, after a steady 3% year-over-year incline. This growth rate is rather conservative compared to the double-digit growth experienced in 2002, which was almost 25% year-over-year. Accounting for 44% of the market, the 'body, clothing, and other' protective gear category has led the industry in recent years, adding more than $1 billion to the market since 2002.
Several factors have affected the growth in the PPE market including concern for employee safety on the corporate level; a stronger, more knowledgeable workforce than in years past; manufacturers' continued innovation; a solid economy and the ever important-diverse customer base.
While the PPE market is expected to continue to grow, a possible 2008-2009 economic recession, though mild, could negatively impact the industry short-term. Slowing residential construction has created a drag on the economy. With that, the U.S. is anticipating higher unemployment rates and tighter consumer household budgets. These growth inhibitors will lead to less personal protective gear needed.
"The rate of growth for this industry is dependant on both U.S. and International economies." comments Tatjana Meerman, Publisher of SBI. "However, OSHA's
continuing PPE purchase mandates for employers may offset this potential slowdown."
Personal Protective Equipment in the U.S. provides data on shipments, imports and exports for the personal protective equipment market. It also identifies key economic and market trends affecting the industry, and profiles key manufacturers.
The report is available from SBI by visiting: http://www.sbireports.com/Personal-Protective-Equipment-1487862/.
About SBI
SBI, Specialists in Business Information, publishes research reports in the industrial, construction, materials, and consumer goods markets. For more information visit http://www.sbireports.com.
Wed Jan 16 09:25:00 CST 2008
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