Product Fall Protection Systems Market to hit USD 9.9 Billion by 2032
The market for product fall protection systems is expected to reach USD 9.9 billion by 2032, growing at a CAGR of 5.1% from 2022 to 2032. The market is expected to reach USD 6.1 billion in 2022.
About 12% of the global secure logistics market is accounted for by the market for product fall protection systems.
Forecast for the global market for product fall protection systems from 2017 to 2021 compared to 2022 to 2032
In the past, the market size of the industry for product fall protection systems increased at a 3.2% CAGR between 2017 and 2021. Over the past few years, the market for product fall protection systems has generated an absolute dollar opportunity of more than USD 789.1 million. Absolute dollar opportunity is expected to be around USD 1.9 billion in the short term and USD 2.5 billion in the long term, respectively.
Additionally, the market for product fall protection systems in Europe holds the second-largest market share in the global market, which is predicted to decline by 63 BPS at a CAGR of 4.3%. In addition, the Germany product fall protection systems market has more than a third of the regional market share and is both the top producer and consumer of these systems.
Additionally, the market for fall protection systems in South Asia & Oceania has significantly expanded over the past five years. It has gained a sizeable market share, and during the forecast period, that share is expected to increase at a CAGR of 6%.
Competitive Landscape:
Leading manufacturing companies in the world are making use of deliver drones, autonomous vehicles, and automated factory equipment to transport goods efficiently and safely. Also, automating a warehouse is among the leading trends in the industrial sector, as a majority of industries including chemical and pharmaceutical industry are automating a variety of processes such as case picking, pulling items from shelves, and delivering them to desired locations.
Also, the key companies have adopted numerous strategies including partnership, merger & acquisition, expansion etc. product development is the key strategy to upscale their market presence among consumers.
Fact.MR has provided detailed information about price points of top manufacturers of product fall protection systems market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance:
On January 2022, w.w. Cannon, Inc. have received MHEDA MVP (Material Handling Equipment Distributor’s Association) (Most Valuable Partner) Award for their achievements in 2021.