Global Insulating Gloves Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2015 to 2031

Insulating gloves are rubber gloves used to prevent electric shock. These gloves are used in electrical equipment such as switchboards, circuit breakers, circuit breakers, electric meters, transformers, and other electronic equipment. There are three main types of insulating gloves: high voltage, medium voltage, and low voltage.

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Demand for Insulating Gloves from 2015 to 2020 Vs Future Market Projections for 2021-2031

From 2015 to 2020, insulating gloves sales were significantly high, owing to growing awareness for worker safety in several industrial and commercial sectors.

Increasing demand for workers' safety leads to the development of innovative gloves that are more resistant to electricity, hazardous chemicals and have better elasticity, which has gained significant traction over the years. This trend is likely to continue in the next few years, conducive to market growth during the forecast period.

Global Insulating Gloves Market Revenue Outlook:

The Insulating Gloves Market was valued at US$ 247.8 Mn in 2020 and is projected to register а САGR of 5.2% by 2031.

Nonetheless, various industry players in the global insulating gloves market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. The major industry players are also increasing their supply capabilities to meet customer requirements locally and globally. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Fatal injuries to workers in the UK by industry (2020/21)

The increasing industrialization and need for worker safety is expected to have a positive effect on the market

Increasing industrialization has led to a substantial increase in the global workforce. The growth of industries that use electrical equipment and the unexpected risks associated with it are rising. Moreover, lack of awareness about handling electrical equipment, particularly in small industries resulting in damage and may even cause a severe medical condition. In addition, increasing regulations towards workers' safety in industries in developed countries and its growing influence on developing countries is also expected to significantly benefit the target market growth.

• OSHA (Occupational Safety & Health Administration) mandates the use of insulating gloves and sleeves as essential Personal Protective Equipment used for electrical work on or near exposed energized parts and conductors.

Classification of Electrical Safety Gloves as per OSHA Outlines

COVID-19 Impact Analysis

The outbreak of COVID-19 has negatively impacted almost every industry, particularly the manufacturing and production industries were severely affected. Substantial disruptions in the global supply chain of raw materials, intermediates and end-products have been felt across the globe. The closure of manufacturing sectors has led to a decline in the demand for safety equipment of workers, thus affecting the revenue growth of these manufacturers. This had led to price fluctuations and sudden shortages of raw materials, as well as end-products. Moreover, halts in production and trade activities led to a muted supply of these products for a certain period during the initial lockdown. Nonetheless, relaxation in trade activities and increasing demand for food & beverages, pharmaceuticals, other essential products and their packaging requirements stabilized the market back to normalcy.

Opportunities for the manufacturers operating in this target sector

Increasing workers' safety regulations in developing countries such as India, China, Brazil, and Mexico, which have become vital manufacturing hubs, is expected to augment the demand for insulating gloves further. Traditionally, industrial regulations in these countries were significantly relaxed; however, with a growing influence from developed economies where these regulations are followed strictly, it has also had an impact on the industrial sector of these emerging economies, which is expected to provide lucrative opportunities to the key players in the market.

Market Analysis

The Global Insulating Gloves Market is segmented based on – Product Type, Industry Vertical, and Region. The medium voltage insulating gloves segment accounts for the largest revenue share in the global insulating gloves market based on the product type. With respect to the industry vertical segment, the electrical and electronics segment is expected to account for a significant revenue share in the worldwide market.

The market is segmented region-wise into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Based on the region, the Asia-Pacific market is estimated to account for major revenue share and is projected to dominate the global insulating gloves market in the next coming years. This is due to well-developed manufacturing industries, increasing industrialization, and a rapidly growing population in countries in the region. In 2020, the APAC market is valued XX Mn, and the market share was XX%, and it is expected to be US$ XX Mn in 2030, with a CAGR of 5.7%. In addition, the North American market is estimated to contribute XX% revenue share in 2020, and it is expected to grow at a CAGR of XX% over the forecast period.

Competitive Landscape

The Insulating Gloves landscape appears highly consolidated, with a major chunk of it being dominated by below players.

• Honeywell International Inc.
• Ansell
• Carhartt Inc.
• Magid Glove & Safety
• MCR Safety
• Secura
• Showa
• GB Industries Sdn Bhd
• Cementex Products, Inc.
• Sicame Australia
• YOTSUGI
• Deco Industrial Gloves
• Macron Safety Inc.
• BINAME Electro glove
• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Segments Covered

Insulating Gloves Market, By Product Type

• Low Voltage Insulating Gloves
• Medium Voltage Insulating Gloves
• High Voltage Insulating Gloves

Insulating Gloves Market, By Industry Vertical

• Electrical and Electronics
• Automotive
• Power Utilities
• Other Industry Verticals