Personal protective equipment (PPE) includes the tools that are utilized in organizations to ensure workplace safety and prevent personnel from being exposed to various hazards. The PPE market has been experiencing consistent growth over the past few years and is expected to reach the GAGR of 6.2% by 2023 (“Global personal protective equipment market,” 2017). The identified trend implies that the significance of workplace safety has risen and that organizations are ready to invest in the staff members so that the loyalty levels among the latter could remain consistently high, therefore, creating the environment for a regular performance improvement.
We will write a custom Critical Writing on Global Personal Protective Equipment Market specifically for you
301 certified writers online
Furthermore, the fact that the PPE market has been expanding shows that organizations have recognized the importance of safety regulations as the means of reducing costs. Particularly, the current trends point to the fact that global companies are ready to invest in the further reduction of expenses by facilitating a safe and secure work environment for their personnel. Additionally, the rise in the demand for PPE indicates that the companies supporting it are ready to penetrate the market even further and make their position in it even more secure.
The identified attitudes among the companies working in the global economy are easily understandable. By investing in the enhancement of workplace safety, organizations position themselves as people-oriented and concerned with the well-being of their stakeholders. Furthermore, the focus on PPE usage will allow cementing the trust-based relationships between the organization and its staff, leading to an increase in employee loyalty and performance rates. Therefore, the purchase and regular upgrade of PPE should be deemed as a necessity for all companies. Consequently, the exponential growth of the PPE market can be viewed as the future trend.
Global personal protective equipment market is estimated to grow by ~6.2% of CAGR by 2023. (2017). New Jersey News. Web.