The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s hand protection equipment market report forecasts the hand protection equipment market size to grow to $44.17 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Hand Protection Equipment Market Size Forecast
The global hand protection equipment market is expected to grow from $29.58 billion in 2022 to $31.99 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hand protection equipment market size is expected to grow to $44.17 billion in 2027 at a CAGR of 8.4%.

North America held the largest hand protection equipment market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Hand Protection Equipment Market Driver ­– Increase In Awareness About The Safety And Health Measures
For instance, In September 2020, Office of the federal safety commissioner, Australian government, in their article has sought the rising awareness and importance of hand safety being adopted by many companies under the various awareness program such as Five Steps to Hand Safety by Sarah construction, Take 5 to Keep 5 by Lipman to prevent hand and arm injury. Therefore, the increasing awareness about safety and health measures is driving the growth of hand protection equipment.

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Key Hand Protection Equipment Market Trend – Expanding Production Capacities
Companies are expanding their production to fulfil the sudden upsurge in demand for gloves from medical customers. Additionally, supply chain disruption during the COVID-19 pandemic has forced governments across the globe to build sufficient domestic production capabilities for emergency products such as medical devices, PPE, and others. For instance, in February 2022, SHOWA Group, a USA-based fully integrated manufacturer of medical and industrial PPE hand protection tripled its production capacity to meet the growing demand for made-in-America gloves from both government and industrial customers. The two new production facilities of the company are expected to increase company production of hand gloves to 1.2 billion units by the end of 2022 and 2.8 billion by the end of new facility construction. In March 2020, Hartalega, a Malaysia-based company specializing in making gloves for healthcare practitioners, purchased 38.49 hectares of land in Sepang. The acquisition would allow the company to increase its capacity to satisfy expanding global glove demand gradually.

Hand Protection Equipment Market Segment
1) By Hand Protection: Durable Gloves, Disposable Gloves
2) By Material Type: Natural Rubber Gloves/Latex, Nitrile Gloves, Vinyl Gloves, Other Material Types
3) By End-User Industry: Healthcare, Industrial Safety & Chemical, Construction, Automotive, Other End-Users

Hand Protection Equipment Market Major Players and Strategies
Major players in the hand protection equipment market are Top Glove Corporation Bhd, Hartalega Holdings, Honeywell International Inc., 3M Company, Alpha Pro Tech, MCR Safety, Ansell Limited, Kossan Rubber Industries Bhd, Kimberly Clark Corporation, Adenna LLC, Superior Gloves, Atlantic Safety Products, Inc., Ammex Corporation, Cardinal Health, Protective Industrial Products, Inc., Globus (Shetland) Ltd., and Midas Safety Inc.

In November 2021, Ardian, a UK-based private investment house, acquired Groupe RG for an undisclosed amount. Through this acqusition, Ardian will give the Groupe’s management team more resources so they can continue to enhance their product while also taking advantage of outside growth potential in a consolidating European market. Groupe RG is a France-based company dealing in personal protective equipment.

The Hand Protection Equipment Global Market Report 2023 covers regional data on hand protection equipment market size, hand protection equipment market trends and drivers, opportunities, strategies, and hand protection equipment market competitor analysis. The countries covered in the hand protection equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Hand protection equipment is any equipment that is used to protect the user’s hands from potential injury or damage due to handling of chemicals or any physicals injury.

View More Reports Related To The Hand Protection Equipment Market –
Handheld Surgical Devices And Equipment Global Market Report 2023
Hand Sanitizer Dispenser Global Market Report 2023
Hand Held Surgical Instruments Global Market Report 2023

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