
Published On: Oct 2022
Published On: Oct 2022
At 5.9% CAGR, the South & Central America Industrial Workwear Market is projected to be worth US$ 882.46 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America industrial workwear market was valued at US$ 623.93 million in 2022 and is expected to reach US$ 882.46 million by 2028, registering an annual growth rate of 5.9% from 2022 to 2028. Increase in number of industrial accidents and introduction of stringent government regulations are the critical factors attributed to the market expansion.
Industrial accidents are one of the major concerns across various industries. The accidents can lead to severe consequences on human health. Owing to the increasing number of industrial accidents, employers are adopting several standards defined by national and international organizations to ensure the well-being and safety of their employees at the workplace. Industrial workwear is designed to provide protection, durability, and comfort to employees while working across diversified industrial bases and helps them avoid severe casualties at the workplace, thereby improving the working efficiency of the workers. Thus, an increase in industrial accidents and work-related mortality propel the demand for the industrial workwear to ensure the workers’ safety, which, in turn, drives the market growth.
On the contrary, growing adoption of industrial automation hampers market South & Central America industrial workwear market.
Key players dominating the South & Central America industrial workwear market are ARAMARK; Honeywell International Inc.; Lakeland Industries Inc. and Ansell Ltd.
In May, 2021; Aramark announced plan to separate uniform services business into independent publicly traded company.
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