According to the latest report published by Credence Research, Inc. “Hearing Protection Devices Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global Hearing Protection devices market was valued at US$ 1.05 Bn in 2016, and is expected to reach US$ 2.31 Bn by 2025, expanding at a CAGR of 9.02% from 2017 to 2025.
Browse the full report Hearing Protection Devices Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report athttp://www.credenceresearch.com/report/hearing-protection-devices-market
Noise pollution is the most common issues in developed as well as in developing countries which causes severe outcomes like permanent hearing impairments. Increasing prevalence of hearing loss draws attention to hearing protection devices for the betterment of workers safety and health. The huge demand of hearing protectors in workplaces to protect from noise over 85 dB drives the hearing protection devices market worldwide.
Increasing trend of noise induced hearing loss (NIHL) by occupational noise positively influences the growth of hearing protection devices market by rising the demand of hearing protection devices. The rise in employee number in industrial sectors like manufacturing industry and construction is anticipated to impact the hearing protection devices market. Innovative products utilizing advanced technologies and modified hearing device support the lucrative market growth. However, the cost associated with customized hearing protection device might impede the growth of hearing protection devices market.
Ear plugs spearheaded the hearing protection devices market because it is easy to carry, convenient to use and comfortable in adverse environment. Introduction of bio-degradable and user-friendly alternatives of conventional earplugs will actively contribute growth to the hearing protection devices market. Among application area, manufacturing segment is estimated to be the leading segment of hearing protection devices market as a result of global industrialization.
Geographically, in the year 2016, North America dominated the hearing protection devices market followed by Europe. Stringent implementation of workplace safety guidelines and high awareness rate among public are the primary factors contributing growth to the hearing protection devices market in these regions. Affordable cost, easy accessibility and adoption of these devices boost up the market growth in developed countries. Asia-Pacific region is predicted to witness significant growth in hearing protection devices market due to increasing awareness and developing research infrastructure.
Market Competition Assessment:
The hearing protection devices market presently comprises various companies having their products marketed. The manufacturers are developing new innovative products and the market is growing as a result of increasing adoption and accessibilities of these products. The key industry players include 3M, Westone Laboratories, Precision Laboratories, Inc., E.A.R. Inc., Sensear Pty Ltd., Elvex Corporation, Honeywell International Inc., Moldex-Metric, Inc, Tasco Corporation, SonoLab and other notable players.
Key Market Movements:
- The increasing awareness of occupational health, technological advancement, growing government initiatives, and cost-effective products propel growth of hearing protection devices market.