While negative effects of the 2008 Great Recession continue to ebb, ecommerce and foreign trade are rapidly gaining traction, in turn driving growth of the international trade and ecommerce sector. The need for product protection systems, currently representing a notable rise, has been driven by the upward trend of warehousing that is extremely popular among manufacturers. This is one of the key driving engine for the product fall protection systems market. High investments on the development of logistics infrastructure, particularly by governments of developing nations such as India, to improve the transportation network will further impact future expansion of the product fall protection systems market.
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The product fall protection systems market has been envisaged to exhibit a moderate 4.0% CAGR, in terms of volume, during the period of forecast (2018-2028). Rapid increase in urbanization and industrialization, particularly in developing nations of Asia-Pacific excluding Japan (APEJ), is further complimenting expansion of the product fall protection systems market. This is mainly because of the ripple effects of industrialization and urbanization on growing demand for FMCG and industrial goods, and their sales uptake in third party online channels.
To cater specific requirements of end-use industries, product fall protection systems manufacturers have introduced a wide range of equipment. Value sales of pallet rack safety nets and cargo bednet/stretch are set to remain higher, with the latter forecast to register a comparatively higher rate through 2028. However, slings will continue to be top-selling variant, in terms of volume, with the cargo bednet/stretch following the suit. Volume sales of slings are envisaged to surpass 73,767 thousand units by 2028-end.?
Product Fall Protection Systems Market: North America Prevails Ahead of Europe in Terms of Volume Sales
Product fall protection systems market in North America continues to illustrate higher volume growth than the market in Europe, albeit the latter continues to hold comparatively greater market value share. Increasing momentum of the warehousing industry, in line with the rapid rise in ecommerce, is likely to bode well for growth of the product fall protection systems market in North America. Rise in awareness on product safety measures, coupled with growing demand for commercial warehousing facilities, will further drive North America’s product fall protection systems market.
In Europe, widespread awareness about the imperativeness of product safety systems is a key factor driving expansion of the product fall protection systems market. Majority of the product fall protection systems’ adoption in Europe remains consolidated in the transportation & logistics industries, and for construction products. Volume sales of product fall protection systems in Europe are set to record a CAGR of 3.8% through 2028, which is relatively higher than that in North America.
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Product Fall Protection Systems Market: Rising Employment of Automated Product Transit Systems Paving Growth Opportunities
Prominent manufacturing industries are leveraging the drone technology, automated factory equipment, and autonomous vehicles for efficient & safe transportation of goods. Additionally, automation of warehouses is an emerging trend witnessed worldwide, with chemical and pharmaceutical industries automating their processes such as case picking, and handling products placed in shelves. Such automated systems require advanced product protection systems, which in turn will augur well for growth of the product fall protection systems market in the forthcoming years.
Stricter product safety norms and regulations imposed by national authorities across countries worldwide, such as Japan, has been positively impacting growth of the product fall protection systems market. The rise in trend of automating product transit systems and warehouses has led the product fall protection systems manufacturers to modify their production strategies. This will further bring changes in future dynamics of the product fall protection systems market, as these systems are integrated with various features that are technologically advanced.
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