This Protective Goggles market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Protective Goggles market.
Protective eye goggles market was enjoying a steady run until coronavirus struck. Strict regulations mandated by government and international bodies made the use of protective goggles compulsory across certain industries. In addition to this, the rising awareness regarding the importance of employee safety was driving the protective goggles market.
However, the prevalent market forces went topsy-turvy as the demand for personal protective equipment (PPE) shot up in response to the surging cases of coronavirus infection. The protective goggles market is put to test as leading manufacturers scramble to keep pace with the increasing demand.
Driven by the Notion - “Better be Safe than Sorry,” Consumers Exhibit High Demand for Protective Goggles
The sales of protective goggles have nearly doubled in Coronavirus or COVID-19 hit nations. Leading research firms took note of this unprecedented rise in demand for protective gowns, surgical and examination gloves, protective goggles and surgical masks in the last months and expect it to have profound impact on companies manufacturing them.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Supply chain disruptions are making the situation even worse. Lockdown enforced to contain coronavirus across various countries has in turn hampered day to day operations of several businesses. Protective goggles manufacturers are no exception to this. With the scenario forecast to persist in upcoming days, it might get even more difficult for companies to drive operations despite the surging demand.
The trend in ecommerce portals is no different.
High traffic portals such as Snapdeal and Amazon reported multifold increase in the sale of protective gears in the first week of March. Furthermore, several online supermarkets have run out of the supply as the demand for these products continues to rise. The increasing cases of coronavirus infections have made consumers around the world more cautious. They are more willing than ever before to spend on hygiene products, which is subsequently bolstering the sales of items such as protective goggles.
Maintaining Supply Could Emerge as Key Challenge
With more than a few sellers fearing they may run out of supplies soon, the protective goggles market is unlikely to witness a steady trajectory. Not that these companies had no contingency plans in place, but none of them could foresee looming COVID-19. Against the prevailing scenario it is very likely for companies to run out of stock as the demand for protective gear accelerates by the hour.
Such shortage has led to unscrupulous retailers selling protective goggles at inflated prices. However, if the demand continues to rise in the same pattern, even veteran market players soon may not have an option but to increase their product prices
To contain the situation several fast moving consumer goods companies are trying to ramp up their production. Despite the ongoing lockdown, these companies are using available resources optimally to increase production of essential protective gears.
Changing Consumer Preference to Impact Demand across Diverse Segments
Protective goggles find application across various industries. Until recently industrial manufacturing held dominance in the market. Factors such as rapid industrialization aided the surge in demand for protective goggles in this segment. Currently however there is a slight change in the scenario. As a result of COVID-19 outbreak, rise in demand is noticed in several other categories besides industrial manufacturing. For instance, the automotive industry will remain one of the key consumers of safety goggles to facilitate safety of workers involved in spraying chemicals, welding and cutting.
Catching up with it is the healthcare sector, which is currently exhibiting exponentially high demand for protective gear. In addition to this, the market will continue witnessing demand from military organizations, oil and gas industry, and construction sector.
Leading Players Likely to Adopt Innovative Strategies to Leg up Amidst Prevailing Crisis
Bolle Safety, 3M Company, and Honeywell Safety Products are among the leading producers of protective eye wear. Currently the market has a consolidated landscape with the presence of only a handful of players. This has made it even more difficult for the existing companies to keep pace with the surging demand. However, demand rises due to coronavirus outbreak have catapulted smaller regional players to the fore. These companies are mobilizing available resources amidst lockdown to cater to the surging demand for protective goggles and other gears.
The rising demand from healthcare sector and overly conscious consumers amidst coronavirus outbreak has compelled manufacturers to rethink their production strategies. While the market is yet to have ubiquitous measures to differentiate between daily patient care capacity and surge capacity, they can restructure their existing framework to approach inadequate supply. For instance, post COVID-19 outbreak it has become of utmost importance for these companies to have contingency plan in place to address crises like this.
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Report Highlights: Global Protective Eye Goggles Market
- An in-depth overview of parent market, covering PPE markets and the protective goggles market
- An overview of evolving market dynamics in the protective goggles industry
- Detailed segmentation of protective goggles market
- Historical, current, and prospective examination of market size in terms of value and volume
- Recent developments and influential trends in protective goggles
- Opportunity assessment of protective goggles market
- Competitive landscape analysis of protective goggles marketplace
- Key player developments in recent times to treat COVID-19 patients
- Niche and potential segments in protective goggles market that reflect promising immediate opportunities
- A neutral perspective on the entire market performance
- Must-have insights for existing and potential protective goggles market players
Frequently Asked Questions
What research methodology is used to develop the Protective Goggles Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Protective Goggles Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Protective Goggles Market report?
In addition to up-to-date market figures and customized of the Protective Goggles Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.