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High Visibility Products Market Report
High Visibility Products Market Trends, Dynamics & Market Insights
The High Visibility Products Market is estimated to grow from USD 1.5 billion in 2020 to USD 2.0 billion by 2026 at a healthy CAGR of 5.2% during the forecast period.
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The high visibility products mainly engage in designing, manufacturing, and marketing of accessories and apparels, which improve the visibility of workers on site or in situations where they are at a potential risk of being struck by moving vehicles or equipment. High visibility products include jackets, vests and shirts, coveralls, pants, gloves and hats and accessories worn by workers that make them visible at night.
Key players operating in the high visibility products market are-
The rising demand for high visibility products in a working environment which is heavily trafficked is one of the key factors driving the high-visibility clothing market growth rate. Also, the rapidly growing awareness regarding the road safety for school going children has attracted the investor sentiment where manufacturers are designing innovative bag covers and jackets at reasonably priced prices which further augments the product demand.
Based on application, the high visibility products market is classified into industrial, road construction and maintenance, police, utilities, airport personnel, and others. The road construction and maintenance segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed imposition of stringent rules and regulations for workers to wear high visibility clothing in order to reduce the risk of on-the-job accidents, which further bolsters the segment growth.
By region, the Asia Pacific market accounted a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to high economic growth, growing manufacturing sector in the region, increasing road accidents, and stringent safety regulations for workers, further proliferates the regional market growth.
The COVID-19 outbreak has significantly affected the high visibility products industry. The pandemic has turned the lives of people worldwide, with number of cases increasing rapidly. The coronavirus pandemic has resulted in strict lockdown measures and partial and complete shutdown of manufacturing sector and shift of service sector to work from home, which are the prominent end-users of industrial clothing. Thus, the shutdown of operations resulted in decline in the product demand.
Here is the list of the group of customers that the high visibility products market hopes to have the greatest opportunity to convert-
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3M Company (US), Ansell (Australia), ASATEX (Germany), Bulwark (US), Honeywell International Inc. (US), Kermel (France), Lakeland Industries (US), Nasco Industries (US), National Safety Apparel (US), and OccuNomix (US) are among the key players in the high visibility products market.
The high visibility products market size is expected to reach USD 2.0 billion in the foreseeable future.
The high visibility products market is expected to witness an impressive growth of 5.2% CAGR in the coming years.
The road construction and maintenance segment is expected to register healthy CAGR in the high visibility products market in the next five years.
Asia-pacific is expected to grow at a substantial CAGR in the high visibility products market during the forecast period.
High visibility products vendors, High visibility products retailers, Industrial companies, Road construction companies are the target audience in the high visibility products market.
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