In a somewhat consolidated market for personal protective equipment
in Saudi Arabia, where the top three companies accounted for over
half the share in the overall market in 2014, competition is intense.
The key players, namely Honeywell International, 3M Corporation, and
MSA Safety, compete on the basis of the range of product offerings.
They also bank on brand recall to bolster their sales – something
that gives them an edge over smaller local companies.
However, local vendors steal a march over prominent ones with cheaper
products in the Saudi Arabia personal protective equipment. This has
served to dent the shares of big players, who thereby have had to
scale back their research and development budgets to cut costs.
A report by Transparency Market Research finds that the
Saudi
Arabia personal protective equipment market will rise at a steady
7.0% CAGR during the period between 2015 and 2021. Expanding at this
rate, the market which was worth US$318.7 mn in 2016 will likely
become worth US$444.2 mn in 2021.
The different types of products available in the Saudi Arabia market
for personal protective equipment are hearing protection, eye and
face protection, head protection, protective clothing, disposable
respirator, respiratory protection, professional footwear, re-usable
respirator, hand protection, fall protection, etc. Of these, the
segment of professional footwear held the maximum market share of
25.0% in 2014 on the back of solid demand from the oil and gas
sector
Region-wise, the key segments of the Saudi Arabia market for personal
protective equipment are Eastern Province, Western Province, Central
Province, and others. Among them, the Eastern Province accounts for
maximum demand due to the presence of numerous boroughs in the
regions. By 2021-end, the Eastern Province is slated to generate
about US$233.6 mn in revenue.
Workers’ Accidents Result in Pushing up Demand
Workers accidents in Saudi Arabia in the past has been primarily
pushing up demand for personal protective equipment in the region.
This is because the casualties resulting from such accidents has
forced the authorities to impose strict safety rules for industrial
entities. Personal protective equipment are used in several
industries such as manufacturing, construction, oil and gas,
chemicals, food, healthcare, etc. At the forefront of driving demand
in the market, however, is the oil and gas industry in the region.
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Automation Posing Challenge to Market
One factor that is expected to prove detrimental to the Saudi Arabia
market for personal protective equipment, on the other hand, is the
rising automation. Large scale automation of various production
processes is gradually bringing down the size of labor force and this
will negatively affect the demand for personal protective equipment.
The market for personal protective equipment in Saudi Arabia is also
being deterred by the presence of numerous local manufacturers
producing cheap safety products. This has forced the big players to
reduce their prices, which in turn is squeezing their profits.
In order to overcome such challenges, manufacturers of personal
protective equipment can look to the more attractive markets Northern
and Southern provinces of Saudi Arabia where industrialization is
progressing at a rapid pace. “Both regions are witnessing
impressive industrial growth and are comparatively untapped,”
explains the lead analyst of the TMR report.
This review is based on the findings of a TMR report, titled,
“Personal Protective Equipment Market – (Types - Eye and Face
Protection, Head Protection, Hearing Protection, Protective Clothing,
Respiratory Protection (Disposable Respirators and Re-Usable
Respirators), Fall Protection, Professional Footwear, and Hand
Protection; Application - Construction, Manufacturing, Oil and Gas,
Chemicals, Food, Pharmaceuticals, Transportation, and Healthcare) -
Saudi Arabia Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2015 – 2021.”
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