Industrial Workwear Market Expected to Reach US$ 15,060.8 Mn by 2026

-
According to a new market report published by Transparency Market Research titled “Industrial Workwear Market [Product Type– Top wear, Bottom wear, Coveralls; End-use Industry – Oil & Gas, Construction, Manufacturing, Automotive, Chemical, Others (Food Processing, Mining etc.); Fit Type – Men, Women, Unisex; Distribution Channel-Online Distribution Channel, Offline Distribution Channel]– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global industrial workwear market is expected to reach a value of US$ 15,060.8 Mn by 2026. The market is estimated to expand at a CAGR of 6.5% during the forecast period from 2018 to 2026. In terms of volume, the market stood at around 173.4 million units in 2017. Europe dominated the industrial workwear market in 2017 by acquiring market share of approximately 34%. The market in the region witnessed considerable growth due to enforcement of stringent policies for workplace safety. Furthermore, the region is the hub of many global players for industrial workwear. In addition, continuous product innovation by key manufacturers as a result of intense competition from competitors has resulted in industrial workwear of premium quality at a competitive price.
The industrial workwear market is influenced by market dynamics with the prime driving factor being the increasing demand for safe and durable workwear due to increasing workplace accidents globally. Additionally, increasing working population coupled with rise in working women’s population across various industries globally has been one of the growth drivers for the industrial workwear market. However, variation in enforcement of stringent policies regarding workplace safety across various countries is one of the major drawbacks of the market. Spreading awareness regarding usage of industrial workwear is a growth opportunity for boosting the industrial workwear market. Additionally, advent of e-commerce sites for procurement of industrial workwear is also anticipated to proliferate the industrial workwear market.
Based on product type, the top wear segment dominated the market in 2017 and was valued at US$ 4,251.2 Mn at a CAGR of 6.8%. The segment dominated the market due to increasing demand for top wear clothing. Rising demand for top wear that can be used both as functional and casual wear has been one of the reasons for the growth of the top wear segment. Additionally, a wide product mix under the top wear segment used across various industries has been another key reason for the growing demand for top wear.In terms of end-use industry,manufacturing industry dominated the market in 2017 due to presence of more workforce in the industry globally, coupled with enforcement of stringent policies regarding workplace safety regulations.
Based on fit type, men’s segment dominated the market due to presence of more male workforce compared to female workforce globally across various industries. Offline distribution channel is still a preferred mode of distribution for supply of industrial workwear. Specialist distributors and super stockists who supply industrial workwear to end consumers are prevalent in the industrial workwear supply chain. By region, Asia Pacific is anticipated to be a lucrative market due to emergence of new industrial workwear manufacturers along with China being the manufacturing hub of industrial workwear.

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation ma...
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. ...
Read more

Architectural LED Products Market: Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2018 - 2026

-
  Global Architectural LED Products Market: Overview  Safety is one of the key concern in architectural spaces, which is important to recognize the need for acceptable architectural lighting. Proper architectural lighting has a vital role for people occupying the architectural space. Additionally, architectural lighting attracts the person’s attention and enables the architectures for serving its true purpose with enhanced features.  The  architectural LED products market  report involves some of the insightful predictions over the scope of the market and some prospects over growth. The new report from Transparency Market Research (TMR) on the architectural LED products market offers the thorough analysis of market segmentation and involves the past revenue and future forecasts. The report offers numerous key strategies adopted by key players coupled with some prominent trends, which are impacting on the growth. Along with this, it explains important information...
Read more