Hearing Protection Devices Market is expected to grow at a CAGR of 12.4% through the forecast period 2019-2029

Growing Investments in North America for Hearing Protection Devices to Drive the Market

North America is one of the leading destinations for hearing protection devices market players. Key players in the market are strengthening their sales channel to further capitalize on the rising demand for hearing protection devices. Increasing awareness about hearing protection devices among personnel, along with rise in the FDI in regions such as Europe and Asia Pacific, is boosting the demand for hearing protection devices. North America is expected to witness a significant increase in its share in the global hearing protection devices market by the end of the forecast period.

hearing protection devices market

Mergers and Acquisitions are among the Leading Strategies of Key Players for Strengthening their Product Portfolio and Increasing their Geographical Footprint

Key players in the hearing protection devices market are focused on mergers and acquisitions with local players to strengthen their product portfolio as well as their distribution network channel. The strategy also is used to expand their footprint in emerging markets. For instance, in April 2015, 3M acquired Capital Safety to expand its presence in the hearing protection devices market.

Similarly, in July 2018, Amplifon acquired hearing care retailer Gaes Group to gain a foothold in Spain. The acquired company has over 500 stores in Spain, as well as a number of stores in Portugal and Latin American countries such as Argentina, Chile, Panama, Colombia, Ecuador, and Mexico.

Request for Sample Report : https://www.persistencemarketresearch.com/samples/3036

Increasingly Stringent Government Regulations to boost the Hearing Protection Devices Market

Increasing number of stringent safety regulations related to occupational safety at workplaces with high level of noise exposure in several industrial processes is expected to drive the sales of hearing protection devices during the forecast period. Several safety standard regulations have been implemented in various developed countries to ensure the safety of workers in industries where there is the risk of exposure to high levels of noise.

The Health and Safety in Employment Act 1992 and its amendment passed in 2002 in Australia/New Zealand requires employers and employees to take steps to ensure a safe and healthy workplace, which creates the need for the use of personal protective devices such as hearing protection devices. The OSHA Hearing Conservation Amendment (OSHA 1983) enforces the use of hearing protection devices in industrial workplaces in the U.S. The Noise-Induced Hearing Loss Regulation 2003, which is accredited by the South African National Standard (SANS), applies to all employers, self-employed, and employees working in an atmosphere exposed to noise levels that exceed 85db.

Demand for Next-generation Hearing Protection Devices in the Military Sectors to Drive the Market

Over the past few years, joint military exercises have increased substantially across the globe due to an increase in the number of international defense agreements between various nations. This has led to a significant increase in the sales of hearing protection devices targeting the defense sector. These exercises have gained greater prominence in Europe and North America.

Moreover, developing economies in APAC, such as India, are witnessing an increase in military spending. For instance, India increased its defense budget by 11% in 2015, as compared to that in 2014. On May 18, 2015, Dynamic Ear Company announced a strategic agreement with the U.K. Ministry of Defense to supply tactical in-ear protection plugs to the U.K. armed forces. Moreover, 3M supplied tactical communication and protective system devices to the U.S military in early 2015. Companies are targeting the military sector to widen their HPD customer base.

Request for methodology : https://www.persistencemarketresearch.com/methodology/3036

Lack of Awareness to Hinder the Growth of the Hearing Protection Devices Market

Majority of the people working in mining, construction, and manufacturing sectors come from low socio-economic backgrounds. Most of these workers are unaware about the safety benefits of hearing protection devices. They are either not trained properly or are not aware about the risks associated with excessive exposure to high noise levels and hence, lack sufficient motivation to use these hearing protection devices.

This low motivation can be attributed to the discomfort caused by these devices, their improper fitting, improper communication while wearing such devices, and other associated secondary effects such as ear infection or excessive sweating. Thus, lack of awareness is expected to hinder the growth of the hearing protection devices market, especially in the developing nations.

Definition

Hearing protectors are devices used to prevent noise-induced hearing loss. These devices are recommended when a user is exposed to noise levels of over 80 dB for 8 hours. These devices find major applications in the military, construction, generator, compressor rooms, and other similar noise-affected industries. Hearing protection devices are available in four types: earmuffs, earplugs, hearing bands, and uniform attenuation earplugs.

About the Report

The report offers a comprehensive evaluation of the business opportunities in the hearing protection devices market, along with insights on the competition blueprint, market trends, and the regulatory analysis of the hearing protection devices market for the duration 2019 to 2029.

Additional Questions Answered

Some of the additional questions addressed in this report on the hearing protection devices market are-

  • What is the revenue potential of the hearing protection devices market across emerging economies?
  • What are the major trends influencing the growth of the hearing protection devices market?
  • What are the major drivers contributing to the growth of the hearing protection devices market?

Research Methodology

A supply-demand approach has been used to estimate the hearing protection devices market. The sales of hearing protection devices were first calculated for arriving at the value of the hearing protection devices market in different regions and countries. Some of the qualitative factors considered for the estimation of the market value include government funding, regulatory support, adoption, and similar other factors.

Primary research was conducted to validate the information. Primary research includes interviews, surveys, in-person interactions, and the viewpoints of seasoned analysts. Secondary research, such as verified paid sources, authentic trade journals, and resourceful databases, was also used for validating the information. Top trends as well as macro and microeconomic factors were assessed to shape the hearing protection devices market. The report on hearing protection devices projects the industry attractiveness of all the major segments over the forecast period.

Leave a Reply

Your email address will not be published. Required fields are marked *