Safety Helmets Market Size to Hit $6.56 Billion, Globally, by 2031 | Exclusive Report by The Insight Partners
US&Canada, Jan. 09, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, "the global Safety Helmets Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Polyethylene, Acrylonitrile Butadiene Styrene, Polycarbonate, and Others), Industry (Construction, Manufacturing, Mining, and Others) and Geography".
Safety Helmets Market research includes key company profiles like are 3M, Centurion Safety Products Ltd., Concord Helmet & Safety Product Private Limited, Polison Corporation, Honeywell International Inc., JSP Limited, Pyramex, and Schuberth.
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The report carries out an in-depth analysis of market trends, key players, and future opportunities. In terms of end-use industry, is categorized into construction, manufacturing, mining, and others. Among these, the construction segment held the largest share in the safety helmets market in 2023.
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Market Overview and Growth Trajectory:
Safety Helmets Market Growth: The safety helmets market valued at US$ 4,380.54 million in 2023; it is anticipated to register a CAGR of 5.2% during the forecast period. 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.
As mineral exploration requires the workforce to operate in a challenging environment, the use of safety helmets is mandatory. Governments of several countries are working on mineral exploration projects as one of the major parts of their economic advancement. Also, they are emphasizing the discovery of new mining sites, along with the upgradation and maintenance of already existing mining sites. For instance, in 2023, Irving Resources Inc. started diamond drilling at its East Yamagano high-grade epithermal gold-silver vein project in Kyushu, Japan. In 2023, Metal Tiger plc announced that Southern Gold Limited had initiated drilling at its Deokon Au-Ag project in South Korea. Southern Gold is anticipated to commence the drilling of the first two diamond drill holes of 500 meters at the untested extensions of the Deokon Main Mine in the Deokon Project. The rapid urbanization and rising government emphasis on infrastructure development that involves telecom network expansion in rural areas are a few factors increasing the infrastructure development work. In 2023, Grid Telecom and Exa Infrastructure collaborated to boost digital connectivity and offer infrastructure services anchored in Europe.
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Europe is the prominent market for safety helmets owing to its infrastructure development in construction, oil & gas, manufacturing, and petrochemicals. In addition, the mounting emphasis on occupational safety is boosting the application of workforce safety measures in construction sites, thereby positively favoring the Europe safety helmet market. The UK, Germany, France, and Italy are noteworthy markets for safety helmets. Despite high inflation rates and geo-political disturbances, including the Russia–Ukraine war, European countries have recorded steady growth in the construction and manufacturing industries. Residential construction activities in several countries have undergone sluggish growth due to high interest rates and low disposable income. However, the commercial and industrial sectors have shown a positive outlook due to growing government interventions.
Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. Asia Pacific is expected to register the highest CAGR during the forecast period. Factors such as the growing developments in the construction sector, rising government focus on infrastructure development, increasing demand for renovation and repair work, and rapid urbanization stimulate the growth of the safety helmet market in Asia Pacific. China, India, and Japan hold prominent positions in the safety helmet market in 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.
Safety Helmets Market Segmentation, Applications, Geographical Insights:
- Based on material, the safety helmet market is segmented into polyethylene, acrylonitrile butadiene styrene, polycarbonate, and others.
- Based on end-use industry, the safety helmet market is categorized into construction, manufacturing, mining, and others.
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Key Players and Competitive Landscape:
The Safety Helmets Market is characterized by the presence of several major players, including:
- 3M
- Centurion Safety Products Ltd
- Concord Helmet & Safety Product Private Limited
- Polison Corporation
- Honeywell International Inc.
- JSP Limited
- Pyramex
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Safety Helmets Market Recent Developments and Innovations:
- " As one of the most recognized and treasured pieces of firefighting safety equipment, the fire helmet stands as a point of pride and tradition in the fire service. Today, MSA Safety, Inc. (NYSE:MSA), launches the new MSA Cairns® 1836 Fire Helmet. In the North American fire service market, the Cairns 1836 is one of the lightest weight traditional-style fire helmets available that meets National Fire Protection Association (NFPA) standards."
- "BIBEE – a professional brand of helmets – will launch its all-new product, the LAVA-01, by the end of this month, brand owner China Hangzhou Bee Sports Co. Ltd."
- "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 workwe."
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Conclusion:
Growing urbanization and rising population promote the development of the construction industry, which subsequently delivers a positive impact on the safety helmet market. The increasing advancement 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. 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 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 report from The Insight Partners, therefore, provides several stakeholders—including component providers, safety helmets manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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