South Korea Fall Protection Market Size & Outlook
South Korea fall protection market, 2018-2030 (US$M)
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South Korea fall protection market highlights
- The South Korea fall protection market generated a revenue of USD 34.2 million in 2023 and is expected to reach USD 56.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, individual protection was the largest revenue generating type in 2023.
- Collective Protection is the most lucrative type segment registering the fastest growth during the forecast period.
Fall protection market data book summary
| Market revenue in 2023 | USD 34.2 million |
| Market revenue in 2030 | USD 56.8 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Individual protection |
| Fastest growing segment | Collective Protection |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Individual Protection, Collective Protection, Access Equipment |
| Key market players worldwide | Werner Enterprises Inc, MSA Safety Inc, Honeywell International Inc, 3M Co, Giss, FallTech, Petzl, Skylotec, Guardian Fall, Gravitec Systems, Kee Safety, French Creek Production, SafeWaze, Tritech Fall Protection Systems |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.2% of the global fall protection market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China fall protection market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 98.9 million by 2030.
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Fall Protection Market Scope
Fall Protection Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea fall protection market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fall protection market will help companies and investors design strategic landscapes.
Individual protection was the largest segment with a revenue share of 56.43% in 2023. Horizon Databook has segmented the South Korea fall protection market based on individual protection, collective protection, access equipment covering the revenue growth of each sub-segment from 2018 to 2030.
Manufacturing is the key industry in the South Korea’s economy that accounted for 25.5% of GDP in 2022. According to international trade administration, the manufacturing sector of the country was valued at USD 437 billion in 2018 and expected to reach USD 678 billion by 2030.
Further, the South Korean government has introduced a noteworthy tax incentive of USD 66 billion to stimulate domestic car manufacturing, aligning with the nation's ambitious target of producing a combined 3.3 million electric vehicle (EV) units by 2030, thereby driving the growth for manufacturing industry.
According to the Ministry of Trade, South Korea received USD 32.7 billion worth of FDI commitment in 2023 compared to USD 30.4 billion in 2022. This substantial FDI influx has played a pivotal role in fueling the expansion of the manufacturing sector, where workers are frequently engaged in intricate tasks such as complex maintenance and inspection of assembly machines.
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Our clientele includes a mix of fall protection market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea fall protection market , including forecasts for subscribers. This country databook contains high-level insights into South Korea fall protection market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea fall protection market size, by type, 2018-2030 (US$M)
South Korea Fall Protection Market Outlook Share, 2023 & 2030 (US$M)
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