Industrial Eye Protection Market Size

Industrial Eye Protection Market Size

Global Industrial Eye Protection Market size was worth over USD 1.92 billion in 2016 and will surpass 270 million units by 2024. 

Rising workplace injuries due to lack of safety precautions has enhanced the necessity for eye protection in end-use industries. As per ISHN, the U.S. reports more than 300,000 workplace eye injuries per year. Construction, manufacturing and mining industries together account for 40% of these injuries. As per WHO, occupational accident are the second most dangerous hazards causing blindness after cataracts. 

Stringent regulatory framework regarding worker safety particularly in developed countries will propel the product demand. Increasing adoption of OSHA & NIOSH regulated products to minimize impact of harmful hazards are the key factors supporting the industry growth.

Growing construction and manufacturing projects has influenced increase in blue collar workforce particularly in Asia Pacific and MEA. Inclination towards infrastructure development along with rising government spending on construction will propel the industry demand. Global construction industry is estimated to worth over USD 15.5 trillion by 2030.

Favourable regulations, easy availability of workforce and other resources encouraged the manufacturing industry particularly in China and India. Manufacturing industry accounted for more than 40% of the China GDP in 2016. India manufacturing industry is anticipated to worth over USD 1 trillion by 2025.

Shifting employer focus on occupational safety along with increasing consumer awareness about importance of protective equipment has enhanced the product scope. Industrial eye protection equipment can avoid more than 90% of the vision injuries through effective usage. Superior protection against impact, heat, chemicals, and harmful radiation are the key properties driving the industrial eye protection market. 

Technological advancement coupled with emergence of innovative products including laser protective goggles will propel the business growth. Increasing raw material prices including plastic and polycarbonate are the major factors affecting the price trend. Lack of mandatory regulations along with low importance for employee safety in some regions are the major restraints for the industry growth.