Million Insights - World's Fastest Growing Market Research DatabaseAccording to new report available with Million Insights, the global safety eyewear industry report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
The global Safety Eyewear Market was valued USD 3.0 Billion by 2025, according to Million Insights, registering a 4.1% CAGR over the forecast period. Increasing demand for protective eyewear equipment from various industries is expected to boost demand for this market. In addition, strict government regulations by the government in various countries are fueling the market growth. For example, the Department of Occupational Safety and Health Administration (OSHA) laid down strict regulations in the U.S which is again expected positive impact on this market.
Application wise, industrial manufacturing held the largest market share due to the high chances of eye injury accidents. Hence, strict precautionary regulations have been laid for employees and employers resulted in the adoption of eye protective equipment across the globe. The military segment is expected to grow with the highest CAGR over the forecast period 2019 to 2025. Manufacturers are focusing on customization of products and product offerings, as governments are investing highly in the military industry for the safety of soldiers.
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Among product types, the non-prescription segment accounted for the largest safety eyewear market share. However, the prescription segment is expected to grow highest owing to the increasing demand for customizing eyewear among consumers for regular vision. Moreover, manufacturers are providing trials and consulting services before buying products, thereby fueling market growth.
The Asia Pacific is expected to witness significant growth during the forecast period due to the rising industrialization in emerging countries such as China and India. The U.S. is the largest consumer for safety eyewear across the globe, followed by Europe, due to the implementation of strict regulations by the government.
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Further key findings from the report suggest:
• By application, the construction industry is expected to grow at a CAGR of more than 4.0% over the forecast period, 2019-2025.The industrial manufacturing segment accounted more than 30% share of the total revenue.
• Product is expected to grow in developing countries such as China, India and South Korea due to high expenditure on the defense industry and protection of personnel.
• The market is highly competitive in nature owing to the presence of the key players such as Bolle Safety, 3M Company, and Honeywell Safety Products
• Market players are focusing on R&D to augment product offerings and product innovations
Million Insights has segmented the global safety eyewear market on the basis of product type, application, and region:
Product Type Outlook (Revenue, USD Million, 2015 - 2025)
Application Outlook (Revenue, USD Million, 2015 - 2025)
• Oil & Gas
• Industrial Manufacturing
Safety Eyewear Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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