Workwear Market Revenue to Surpass USD 45,743.96 Million by 2028 at 6.1% CAGR: Global Analysis by The Insight Partners

The workwear market is projected to reach US$ 45,743.96 Mn by 2028 from US$ 30,400.65 Mn in 2021. It is expected to grow at a CAGR of 6.1% from 2021 to 2028.

NEW YORK, UNITED STATES, November 2, 2022 /EINPresswire.com/ -- The scope of our recent study, titled "Workwear Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Topwear, Bottomwear, Coveralls), Category (Men, Women, Unisex), and End Use (Oil and Gas, Construction, Healthcare, Chemicals, and Others)" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

Global Workwear Market Growth Values, Regional and Industry Scope:

Market Size Value in- US$ 30,400.65 Million in 2021
Market Size Value by- US$ 45,743.96 million by 2028
Growth rate- CAGR of 6.1% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 157
No. of Tables- 86
No. of Charts & Figures- 81
Historical data available- Yes
Segments covered- Product Type, Category and End User
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Industrial accidents are one of the major concerns across various industrial sectors. These accidents have severe consequences on human health. There have been numerous cases of accidents at work globally in various industries, such as construction, oil & gas, and mining. According to the International Labour Organization (ILO), approximately 2.78 million work-related deaths are recorded yearly, of which 2.4 million are related to occupational diseases. Additionally, there are ~340 million occupational accidents and 160 million victims of work-related illness annually across the world.

Further, International Labour Organization (ILO) stated that work-related diseases caused the most deaths among workers. Hazardous substances alone are estimated to cause 651,279 deaths a year. Various industries, such as construction, mining, oil & gas, automotive, and healthcare, record numerous work-related deaths and injuries every year. The construction industry has a disproportionately high rate of recorded accidents. According to the International Journal for Research in Applied Science & Engineering Technology, construction-related deaths accounted for around 18.17% of fatalities across the US from 2009 to 2018. The rising rate of accidents at work has shifted the focus toward employee safety, which is increasing the demand for industrial workwear.

Workwear Market: Competitive Landscape and Key Developments

Key players operating in the global workwear market include Carhartt, Inc.; Aramark; Alisco Group; Alexandra; 3M; A. LAFONT SAS; Fristads Kansas Group; Hultafors Group; and Lakeland Industries, Inc. These companies have a widespread global presence, which allows them to serve a large set of customers from all over the world and subsequently increases their market share They heavily focus on new products launch and geographical expansion to expand their product range in specialty portfolios.

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Impact of COVID-19 Pandemic on Workwear Market

The COVID-19 pandemic brought unprecedented challenges for many industries, including construction, oil & gas, chemicals, and mining. Lockdowns, border restrictions, travel bans, plant shutdowns, and other government-led safety protocols disturbed the operations of manufacturing companies. The COVID-19 pandemic also created a shortfall in production due to the shortage of raw materials and labor, which hampered the market shares of small-scale and large-scale workwear manufacturers across different geographies. However, the demand for workwear increased due to its rising usage in the healthcare sector to ensure the safety of healthcare workers.

Workwear Market Insights

Based on product type, the workwear market is segmented into topwear, bottomwear, and coveralls. The topwear segment held the largest share in the workwear market in 2020, whereas the coveralls segment is projected to register the fastest CAGR during the forecast period. The growth of the corporate sector is a major driving factor for the topwear segment as internal policies allow an employer to set dress codes that the employees are required to follow.

The workwear market is segmented into five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). North America held the largest share in the workwear market in 2020, and Asia Pacific is expected to register the fastest CAGR during the forecast period. Increasing cases of occupational injuries, a rise in the number of surgeries and occupational deaths, high demand for safety apparel, growing expenditure on work safety by end users, such as oil & gas, food, and automotive, and the presence of major market players are some of the prominent factors propelling the workwear market in North America. In addition, stringent government regulations in the region regarding the safety of working professionals in factories and on-site workers, coupled with penalties for non-compliance with the standards, augmented the adoption of workwear.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Sameer Joshi
The Insight Partners
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