The global safety helmets market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. The growing industrialization, infrastructure and manufacturing in emerging economies is boosting the global safety helmets market during the forecast period. Industrial development is of critical importance for sustained and general economic growth in developing countries. According to UN Industrial Development Organization data 2021, manufacturing production in developing and emerging industrial economies except China, registered an annual increase of 4.3% in the same quarter, following a growth rate of 7% in the third and of nearly 30% in the second quarter of 2021. Industrialized economies (IE) reported a growth rate of 3.2% in a year-over-year comparison, while China’s output rose by 3.1%. Industrialization generates employment, by introducing new equipment and new techniques. Industrialization, with strong linkages to domestic economies, can help developing countries achieve high growth rates, diversify their economies.
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According to Asian Development Bank (ADB) August 2022 data , it has approved additional grant financing of $38 million for a project restoring and expanding climate-resilient water supply and sanitation infrastructure in Dushanbe, Tajikistan. The additional financing will expand water supply and sanitation investments in the Shohmansur District, including restoration of additional wells, transmission and distribution networks, pumping stations, installation of smart meters, and rehabilitation and construction of collector sewer and sewerage networks, these construction works will create demand for safety helmets.
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Further, according to UNCTAD data 2022, foreign direct investment (FDI) to African countries increased to $83 billion in 2021. New investments in the country included a $4.6 billion clean energy project finance deal sponsored by UK-based Hive Energy and a $1 billion Greenfield project by US-based Vantage Data Centers to build its first African campus, investment in Mozambique grew by 68% to $5.1 billion. The country saw improvement in Greenfield projects, including UK-based Globeleq Generation’s plan to build power plants of cost $2 billion. Nigeria got FDI inflow double to $4.8 billion, mainly because of renewal in investments in the oil and gas sectors also, International project finance deals in the country increased to $7 billion which included the $2.9 billion Escravos Seaport project to construct an industrial complex. FDI to the Democratic Republic of the Congo increased by 14% to $1.9 billion, with investment trends remaining positive primarily because of flows to offshore oil fields and mining. Hence, this investment is increasing industrialization, and infrastructure which is further boosting the demand for safety helmets.
Market Coverage
- Segment Covered-
o By Material
o By Product
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including 3M, Bullard, Delta Plus Group, Honeywell International Inc., MSA and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Safety Helmets Market Report Segment
By Material
- Polyethylene (PE)
- Acrylonitrile Butadiene Styrene (ABS)
- Polycarbonate (PC)
By Product
- Hard Hats
- Bump Caps
By End-User
- Construction
- Manufacturing
- Mining
- Others
Global Safety Helmets Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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