Hemco Industries

Fall Protection Market Expected to Grow Over Next 5 Years

The global fall protection market, also known as the fall protective and personal protective equipment market, was valued at over USD 40 billion in 2017 an increase from 2016. Agencies that oversee safety, such as OSHA, continue to enforce, develop and uphold worker safety regulations across all aspects with the leading concern pertaining to falls in the workplace. The stringent focus of preventing falls is expected to drive the growth of the global fall protection market over the next five years. Market research analysis conducted by Technavio, predicts the global fall protection industry to increase at a CAGR of over 9% by 2021.

OSHA has said that slips, trips, and falls continue to be one of the leading causes of work-related injuries and fatalities. OSHA further stated that a little over 15 percent of all accidental deaths are related to slips, trips and falls, which are second only to motor vehicles as a leading cause of workplace fatalities. The increase in number of workplace fatalities and injuries only continues to raise awareness and forces employers to focus on employee safety by evaluating current procedures and ensuring the needed proactive solutions are in place; this will propel the markets growth for years to come.

The market continues to see an exponential increase in the number of safety trainings. Training is undertaken due to the growing awareness in industries such as oil & gas, specialty chemicals, energy, construction, and many others in the industrial sectors. A few years ago, OSHA conducted a National Fall Protection Stand-Down to raise awareness towards fall based injuries and fatalities. This helped promote training activities, and in turn, assisted in the growth of the fall protection industry.

Per OSHA, “falls from heights and on the same level (a working surface) are among the leading causes of serious work-related injuries and deaths. OSHA has issued a final rule on Walking-Working Surfaces and Personal Fall Protection Systems to better protect workers from these hazards by updating and clarifying standards and adding training and inspection requirements.

The rule incorporates advances in technology, industry best practices, and national consensus standards to provide effective and cost-efficient worker protection. Specifically, it updates standards addressing slip, trip, and fall hazards and adds requirements for personal fall protection systems.”

The leader in the global fall protection equipment market is the North American region, largely in part to the several safety standards that are set forth by government bodies. However, across the globe companies have made workplace safety a priority and have or continue to establish a process and set of safety guidelines to help reduce workplace hazards that would ultimately impact operational costs through settlements and/or compensation costs. The huge avoidable costs associated with the non-compliance of fall prevention safety measures is anticipated to increase the need and focus of fall protection by pushing companies to take immediate action, avoiding this concern all together. As the market continues to trend upward, we’re finding that more and more companies are making fall protection one of their leading priorities, organizations are more familiarized with all the changing regulations and the constant risks, and are not just content with the measures already in place. Fall prevention also requires a company-wide culture focused around safety as well as OSHA certified fall prevention measures.

It’s no surprise that one of the major ongoing concerns for companies is to improve the safety of their employees by evaluating best practices and their surrounding workspace. We all know how quickly accidents in the workplace can occur and just how devastating they can be. As workplaces grow and evolve fall prevention methods too are evolving and improving with the continual focus of providing your employees with the safest working environment.

For any questions, concerns or to learn more about what you can do to provide your workplace with the safest possible solutions feel free to give Hemco Industries a call. We’d be more than happy to assist you in your fall protection needs and help you avoid OSHA fines and to help keep all your workers safe from falls. Email us at sales@hemcoind.com or call at (713) 681-2426.