Growing demand from the oil and gas industry to catalyze the sale of personal protective equipment.
Oil and gas workers face hazards throughout their daily duties and encounter situations like being struck or caught between equipment, fire, falls, chemical exposure, etc. In fact, the oil and gas sector's average fatality rate is much higher than any other sector in the United States. Such factors prompt the growth of PPE in the oil and gas sector, promoting the health and well-being of workers in the workplace.
The personal protective equipment (PPE) market has helped act as a strong defense to protect from hazards in the workplace of the oil and gas industry. For instance, flame-resistant protective clothing can protect workers from fire injuries, resist ignition, and provide insulation against heat and flames. Another PPE widely used in the sector includes respiratory protection, as the workers may encounter any deadly gas explosion, fumes, or airborne particles on the field. These respiratory protective gear can not only protect the workers from sudden death in the workplace but can also save them from any long-term illness from the contaminated air.
Key Factors Prompting the Growth of Personal Protective Equipment (PPE) Market in Oil & Gas Sector:
With the growing demand for oil and gas, companies have significant pressure to comply with the health and safety of the workers in this sector. Some of the key factors that promote the usage of PPE in this industry are listed as follows:
Emphasis on Worker Well-being
The well-being of the workers in the oil and gas sector has paved the way for employers to put more stress on using PPE in their environment. It can protect workers from various workplace hazards and significantly encourage employers' commitment toward their employees, helping create a good workplace environment. Such factors can help boost morale and encourage productivity in the workers.
Government bodies of various nations and companies have come up with various regulations for the safety of workers in the oil and gas industries. Companies need to meet up with these regulations to work in this sector. Some of these regulations also emphasize using personal protective equipment (PPE) such as helmets, protective gear, and more. Furthermore, Occupational Health and Safety Administration (OSHA) Act stresses the welfare of employers working in such sectors to avoid any harm of being killed at the workplace. Companies need to follow these regulations to avoid any penalties, thereby projecting the sales of PPE from the oil and gas sector.
With the growing technological developments, the PPE sector has significantly developed. For instance, companies can invest in smart tech helmets, including GPS chips. These helmets can help companies to monitor their workers on large fields or at a sparsely populated oil refinery. Helmets can also be programmed to identify hazards around them and equipped with hazard alarms. Smart safety eyewear collecting data on the field or smart tech gloves boosting workers' safety are other advancements in the sector.
Global Events and Pandemics
The uncertainty of global events and pandemics such as COVID-19 has emphasized the usage of PPE in the workplace environment more than ever before. Personal protective equipment not only can protect from any workplace hazards but can also protect the workers from any significant diseases spreading. Like other sectors, the oil and gas sector must adapt to health and safety protocols, including masks, gloves, and sanitization stations, to provide a safe workplace environment to its employees. As a result, the personal protective equipment market has seen significant growth from the oil and gas sector with the advent of various global events and pandemics.
Risk management is essential for any industry, but it becomes even more important for the oil and gas sector due to the nature of work in this sector. Risk management can help predict risks, analyze risks, choose the best methods to avoid any risks, and more. The industry is already highly risky, with potential hazards from physical to chemical exposure and fire incidents. To mitigate these risks, companies must use appropriate PPE for the workers to minimize the risk prevailing on employees.
All the factors certainly highlight the ever-growing demand for PPE from the oil and gas industry. Still, the personal protective equipment market is not only confined to the oil and gas sector and is widely used in sectors like chemical, pharmaceutical & healthcare, aerospace & defense, automotive, food & beverage, and other industries.
According to analysts at Arizton.com, the global personal protective equipment market is projected to cross USD 34.38 billion by 2028 and grow at a CAGR of 7.73% from 2022-2028.
Get a decisive making overview of the personal protective equipment market here: https://www.arizton.com/market-reports/personal-protective-equipment-market/
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