Growth in Demand from Consumers to Heighten Sales of Hearing Protection Devices Market

10/giu/2020 10:18:53 persistencemarketresearch Contatta l'autore

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New York City, United States -- Since the COVID-19 infection flare-up in December 2019, the malady has spread to right around 100 nations around the world with the World Health Organization proclaiming it a general wellbeing crisis. The worldwide effects of the coronavirus sickness 2019 (COVID-19) are now beginning to be felt, and will essentially influence the Healthcare Industry in 2020.

Growth in the construction, mining, and manufacturing industries, and advancements in technology are some of the factors that are driving the hearing protection devices market. According to the latest research by PMR, the global hearing protection devices market is expected to account over US$ 4,900 Mn by the end of 2029. The hearing protection devices market is expected to grow at a CAGR of 12.4% through the forecast period 2019-2029.

Increasing employment in the construction industry is expected to drive the hearing protection devices market. Asia Pacific is expected to account for a 60% share of the global construction spending by 2025, which is primarily driven by growing infrastructure development in China and India. Increasing Y-o-Y (%) growth in GDP (at constant prices), coupled with growing urbanization in certain countries, such as China, India, and Indonesia, is expected to boost the spending on public infrastructure, and, in turn, boost employment in the construction sector in the region.

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Companies Profiles

  • 3M Company
  • Amplifon
  • Centurion Safety Products Limited
  • Dynamic Ear Company B.V.
  • Elvex Corporation (Delta Plus Group)
  • Etymotic Research
  • Hellberg Safety (Hultafors Group AB)
  • Honeywell
  • Moldex-Metric Inc.
  • Cotral Lab

Get To Know Methodology of Report @ https://www.persistencemarketresearch.com/methodology/3036

The hearing protection devices market is a very lucrative market that offers new players high return on investment. Increasing awareness and rising demand for hearing protection devices among end users has led to the emergence of various new small players that offer earplugs at competitive rates. The low-cost strategies adopted by local players is expected to be a key factor driving the hearing protection devices market, especially in the Asia Pacific region.

Furthermore, over the past few years, the global manufacturing sector has witnessed sluggish growth rates. However, favorable government policies for the expansion of manufacturing sectors, particularly in emerging economies, is expected to fuel the overall demand for hearing protection devices during the forecast period. Stringent regulatory compliances for the prevention of noise-induced hearing loss across industries, especially in developed regions, and growing construction spending worldwide, is expected to boost the overall demand for hearing protection devices in the near future.

Other factors, such as increasing FDI in developing regions, demand for advanced hearing protection devices in the military sector, increasing development activities & urbanization, and the availability of low-cost earplugs, are also expected to boost the market during the forecast period. However, improper hearing attenuation and lack of awareness are among the factors that are likely to hinder the growth of the hearing protection devices market.

The North America and Europe Hearing Protection Devices are expected to have a combined share of over 65% of the global hearing protection devices market during the forecast period. This can be primarily attributed to the high adoption of personnel protection gears driven by government regulations and advancements in technology. The development of manufacturing and construction in the Asia Pacific region is also expected to drive the hearing protection devices market in this region.

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