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The safety helmets market size is projected to reach US$ 6,566.58 million by 2031 from US$ 4,380.54 million in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. As technological advancements help enhance safety and improve productivity, smart safety helmets will continue to remain key trends in a host of industries.
Safety Helmets Market Analysis
Labor-intensive industries mandate the incorporation of proper workforce safety measures to mitigate the level of risks; if ignored, it can lead to various hazardous situations that can impact the overall project timeline and operational efficiency. Therefore, safety measures are highly emphasized to avoid any unwanted challenges related to workforce health and safety.
Growing urbanization and rising population promote the construction industry growth, which subsequently delivers a positive impact on the safety helmet market. The increasing advancements in the oil & gas sector for fueling oil production and mining excavations and the rising number of wind farms for power generation also drive the safety helmet market expansion.
Safety Helmets Market Overview
The acceptance of safety helmets has intensified over the years as a basic necessity for protecting the workforce. The industries that demand workers to operate in heights or high-risk environments are propelling the demand for safety helmets globally. Likewise, the mining and telecommunication industries invest a substantial amount in safety measures, which, in turn, accelerate the need for safety helmets. The growing government initiatives and the integration of stern regulations to incorporate high standards of workforce safety measures are other major growth drivers of the safety helmet market at the global level. The safety helmet market outlook continues to be positive as these helmets are well-positioned to serve the safety requirements of end-user industries such as construction, manufacturing, oil & gas, utilities, telecommunication, and mining.
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Safety Helmets Market: Strategic Insights
Market Size Value in US$ 4.18 billion in 2022 Market Size Value by US$ 7.28 billion by 2030 Growth rate CAGR of 7.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Safety Helmets Market: Strategic Insights
| Market Size Value in | US$ 4.18 billion in 2022 |
| Market Size Value by | US$ 7.28 billion by 2030 |
| Growth rate | CAGR of 7.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Safety Helmets Market Drivers and Opportunities
Developments in Construction Industry
As the construction industry expands and evolves, the requirement for safe operation becomes crucial. There is an increase in various types of infrastructural development projects, such as commercial complexes, residential buildings, and industrial facilities. Each project needs a workforce for construction, repair, maintenance, and renovation. Rapid urbanization and population outburst drive the requirement for new housing, commercial spaces, and infrastructure. For instance, Saudi Arabia is anticipated to become one of the largest construction sites in the world, with approximately ~US$ 1.1 trillion of investment in infrastructure and real estate projects. These infrastructure and real estate development projects include King Salman Park, Neom Super City, Diriyah Gate, The Red Sea Projects, and Jeddah Central and Jeddah Economic City Projects.
As cities develop, the construction of high-rise buildings and large-scale projects demands safety measures for safe and efficient construction. Unique projects with challenging architectural designs or specific requirements require custom-designed safety measures. For instance, in March 2023, the Canadian Kelowna City Council stated authorization for funding US$ 90 million for the expansion project of the Kelowna Airport terminal. Also, in 2022, the Government of India started its projects to build 220 airports by the end of 2025. The growing infrastructure development and real estate progress, including commercial, residential, and mixed-use projects, drive the demand for safety tools, including helmets, during construction and maintenance activities.
Increasing Government Focus on Workforce Safety
The growing instances of occupational accidents are one of the prime factors that hinder the smooth operation of any construction project. The proper workforce management and growing adoption of standard safety measures to prevent workplace mishaps are anticipated to favor the safety helmet market globally. Governments of several nations are focusing highly on workforce safety regulations to avoid accidents. The Occupational Safety and Health Act of 1970 mentioned proper working standards and conditions to ensure workforce safety. The Health and Safety Executive (HSE), The Health and Safety at Work Act 1974, also describes the measures to prevent work-related injury, ill health, and death. In India, workplace safety is primarily managed by the Factories Act (1948) and the Mines Act (1952). Furthermore, numerous other laws, policies, regulations, and guidelines are related to specialized industries and sectors. Thus, the growing government initiatives and the introduction of strict regulations to protect workforce safety measurements are anticipated to offer lucrative opportunities for the safety helmet market during the forecast period.
Safety Helmets Market Report Segmentation Analysis
Key segments that contributed to the derivation of the safety helmets market analysis are material and industry.
- Based on material, the safety helmet market is segmented into polyethylene, acrylonitrile butadiene styrene, polycarbonate, and others. Among these, polyethylene held the largest share in 2023, owing to its increasing demand in the growing construction sector.
- In terms of industry, the market is categorized into construction, manufacturing, mining, and others. Among these, the construction sector acquired the largest share in 2023 due to the significant demand for safety helmets at residential and commercial construction projects across the world.
Safety Helmets Market Share Analysis by Geography
The geographic scope of the safety helmets market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.
Asia Pacific dominated the safety helmets market in 2023; it will continue to dominate the market during the forecast period due to factors such as growing developments in the construction sector, rising government focus on infrastructure development, increasing demand for renovation and repair work, and rapid urbanization. China, India, and Japan hold prominent positions in the safety helmet market in Asia Pacific.
Safety Helmets Market Report Scope
Safety Helmets Market News and Recent Developments
The safety helmets market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the safety helmets market are listed below:
- STUDSON, a safety helmet developer that recently launched the first-of-its-kind Full Brim ANSI Type II Safety Helmet, announced the completion of a US$ 2.48 million funding round and a strategic collaboration with Blaklader, one of Europe’s largest producers of workwear. (Source: STUDSON, Company Press Release, March 2024)
- Lakeland Industries, Inc. (NASDAQ:LAKE) (the "Company" or "Lakeland"), a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels, announced today the acquisition of New Zealand-based Pacific Helmets NZ Limited ("Pacific") in an all-cash transaction valued at approximately $8.5 million subject to post-closing adjustments and customary holdback provisions. (Source: STUDSON, Company Press Release, November 2023)
Safety Helmets Market Report Coverage and Deliverables
The “Safety Helmets Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Safety helmets market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Safety helmets market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Safety helmets market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the safety helmets market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Material Type, End-user Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
3M, Centurion Safety Products Ltd., Concord Helmet & Safety Product Private Limited, Polison Corporation, Honeywell International Inc., JSP Limited, Pyramex, and Schuberth are the key market players operating in the global safety helmets market.
Growing adoption of advanced materials drives the market growth. Safety measures are being revolutionized with the use of advanced materials to address challenges associated with workforce safety. Advanced lightweight materials such as polyamide, polyethylene, nylon, and Acrylonitrile Butadiene Styrene can improve the strength-to-weight ratios of safety helmets in order to ensure long-term performance and resistance to wear and tear.
The Asia Pacific safety helmets market is segmented into China, India, South Korea, Australia, and the Rest of Asia Pacific. The increasing developments in commercial and industrial spheres are among the prime reasons accelerating the safety helmet market growth in North America. The US dominates the market for safety helmets in North America. The rising focus on worker safety and health for proper project completion in manufacturing and construction sites is fueling the demand for safety helmets in the region.
Increasing government focus on workforce safety drives the market growth. The growing instances of occupational accidents are one of the prime factors that hinder the smooth operation of any construction project. The proper workforce management and growing adoption of standard safety measures to prevent workplace mishaps are anticipated to favor the safety helmet market globally.
Increasing developments in the construction industry drives the market growth. As the construction industry expands and evolves, the requirement for safe operation becomes crucial. There is an increase in various types of infrastructural development projects, such as commercial complexes, residential buildings, and industrial facilities. Each project needs a workforce for construction, repair, maintenance, and renovation. Rapid urbanization and population outburst drive the requirement for new housing, commercial spaces, and infrastructure.
The List of Companies - Safety Helmets Market
- 3M Co.
- Centurion Safety Products Ltd.
- Concord Helmet & Safety Product Private Limited
- Polison Corporation
- Honeywell International Inc.
- JSP Limited
- Pyramex
- Schuberth
- VOSS-HELME GmbH & Co. KG
- Uvex Arbeitsschutz GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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