Mature Western European Fall Protection Market Still Provides Growth Opportunities, Says Frost & Sullivan
LONDON, Dec. 5, 2012 /PRNewswire/ -- The fall protection market in western Europe is mature, although not yet saturated. Specific product segments, such as confined space access systems and rescue equipment, offer higher scope for growth as employers recognise the need for an appropriate fall protection regime for their employees. With the European construction and industrial sectors still in recovery mode, opportunities for growth are expected to arise from wind energy and transportation sectors.
New analysis from Frost & Sullivan ( http://www.chemicals.frost.com), Analysis of the Western European Fall Protection Market, finds that the market earned revenues of €289.2 million in 2011 and estimates this to reach €333.6 million in 2016, boosted by stricter safety regulations and the expanding market for training and other fall protection services. The product types covered in this research include soft goods, hard goods, installed systems, access systems and rescue equipment.
"Training services, in particular, have been gaining importance as end-user education is seen as critical to ensuring correct equipment usage," noted Frost & Sullivan Chemicals & Materials Research Analyst Aparna Balasubramanian. "This has paved the way for improved awareness and compliance, while encouraging the adoption of fall protection equipment."
Strategic partnerships with training organisations and other service providers have, moreover, helped manufacturers to enhance customer relationships and promote brand loyalty.At present, awareness and compliance at the end-user level on fall protection are still not optimal. Hence, the market is yet to realise its true potential. Increasing employment in the wind energy sector and improved compliance in the transportation sector offer opportunities for further market growth. However, this crowded, highly price-sensitive market is currently flooded with low-cost Asian imports. Pricing pressures are lowering the average selling price and, in turn, overall market revenues.
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