Floor Safety Products: Stable CAGR Growth

Floor safety product refers to different safety equipment used in industrial and commercial spaces to prevent fatalities and accidents. Safety can’t be an afterthought. You need safety products that will keep your employees, your equipment, and your business safe, even in the face of hazards. That’s why we carry a wide variety of safety products to help you construct an effective safety program. You’ll find everything from personal protective equipment to spill kits to keep operations running smoothly without putting people at risk of injury or illness.

Rising industrialisation all around the world will fuel the market for floor safety products for the forecast period.

The global Floor Safety Products Market is primarily driven by rising manufacturing all around the world owing to increasing consumer demand. The industries like automotive, electronics, consumer goods and others are gaining pace in terms of high demand in market. The rise in manufacturing in these factories have to increase production by keeping in mind the safety of employee working in the industries. So, the rise in manufacturing will directly impact the market for floor safety products 

For instance, according to the Indian Cellular Association (ICA), the annual production of mobile phones within the country has increased from 3 million devices in 2014 to 11 million devices in 2017. India now accounts for 11 per cent of global mobile production, which was only 3 percent in 2014.

Lack of awareness leading to incorrect selection of safety products will Hinder Market Progress

Lack of awareness of the floor safety products coupled with the incorrect selection of safety products will be the major restraint for the floor safety product market. Negligence of floor safety products by the manufacturing units in the developing countries is the other reason that will affect the market. And these are the major two restraints for the market in the forecast period.

Hybrid self-checkout terminals dominate the Floor Safety Products market

By Product, the global Floor Safety Products market is segmented into Safety mats, Floor safety cones and signage, and anti-slip tapes. Safety mats have the dominant position in the Floor Safety Products market due to the rising demand from the manufacturing industries. And also, will be growing in the forecast period with the higher CAGR.

By Application, the global Floor Safety Products Market is segmented into Household and Commercial. The commercial has higher dominance in the application segment of Floor Safety Products market due to the rise in industrialization all around the world coupled with the various government stringent regulations.

By Distribution Channel, the global Floor Safety Products Market is segmented into Online Distribution Channel and Offline Distribution Channel. Offline distribution channel includes hardware stores, exclusive stores, and hypermarkets, while an online distribution channel includes distribution through e-commerce platforms.

Asia-Pacific is expected to grow with the higher growth for Floor Safety Products Market

DMI segments the global Floor Safety Products market into – North America, South America, Europe, Asia-Pacific (APAC), and the Middle East and Africa.

North America accounted for the largest share of the market in 2018 due to the growth of the end-user industries such as construction and manufacturing. Introduction of strict safety regulations by governments will drive the growth of the market in this region.  For instance, OSHA Regulations (Standards - 29 CFR) from US government provides the safety regulation for employee at workplace. According, to Section 6(a) of the Williams-Steiger Occupational Safety and Health Act of 1970 (84 Stat. 1593) the main goal is to ensure that employers provide employees with an environment free from recognized hazards, such as exposure to toxic chemicals, excessive noise levels, mechanical dangers, heat or cold stress, or unsanitary conditions.

With the growing industrialization and urbanization in Asia-Pacific will be driving the market for floor safety products. The major growth in the region will have a contribution from the countries such as China, India, Japan and others. The growing investments in the manufacturing sector are expected to grow the market with higher CAGR in the forecast period.

Highly Concentrated Competitive Market with Few Major Contributors

The global Floor Safety Products market is highly competitive. Key market players include – 3M, Emedco, American Mat & Rubber Products, Jessup Manufacturing Company, and Safety Grip Solutions. Other key players in the market Wearwell, Notrax, Safe Tread, Heskins, and INCOM Manufacturing Group. Key players are adopting strategies such as investing in R&D, new product launches, development of innovative products to stand out as strong competitors in the market.

Floor Safety Products Market Taxonomy:

By Products

• Safety mats
• Floor safety cones and signage
• Anti-slip tapes

By Application

• Household
• Commercial

By Distribution Channel

• Online Distribution Channel
• Offline Distribution Channel

 

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