CONSTRUCTION SAFETY NET MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The construction safety net market size is expected to reach US$ 5.88 Bn by 2030, from US$ 3.45 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.9% during the forecast period. Construction safety nets are protective mesh nets that are used in construction sites to safeguard workers against potential fall hazards. They prevent severe or fatal injuries by providing a secondary means of fall protection. Safety nets find widespread usage across building construction, bridge erection, tower installation, scaffolding, and other elevated work areas for fall prevention. The key market drivers are rising construction activities, stringent safety regulations, and increasing awareness.

The construction safety net market is segmented into product type, material type, end user, position/placement, and region. By product type, the market is segmented into safety nets, debris nets, virus protection nets, fire escape nets, trampoline nets and others. Debris containment nets are the largest segment and will continue to dominate due to extensive usage in high-rise and bridge construction projects to avoid accident risks from falling objects.

Construction Safety Net Market Regional Insights

• North America is expected to be the largest market for construction safety net market during the forecast period, accounting for over 38% of the market share in 2023. The market growth in North America is due to stringent safety standards, established construction industry, and investments in infrastructure.
• The Asia Pacific market is expected to be the second-largest market for construction safety net market, accounting for over 25% of the market share in 2023. The market growth in Asia Pacific is due to rapidly expanding construction sector and government investments in China, India, Thailand, Indonesia, and other countries.
• Europe is another major market for construction safety nets, due to the strict safety regulations in place in the region. The increasing investments in infrastructure development in countries such as Germany, France, and the U.K. are also expected to boost the market growth.

Figure 1. Construction Safety Net Market Share (%), By Region, 2023

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Analyst Viewpoint

The construction safety net market is expected to grow at a steady pace over the next five years. The rapid pace of infrastructure development across Asia Pacific region especially in China and India will drive the demand for safety nets significantly. The implementation of strict worker safety regulations worldwide is also compelling construction companies to focus more on fall protection equipment which will propel the safety nets market. However, budget constraints of small construction contractors can negatively impact the market growth.

North America dominates the construction safety net market due to stringent workplace safety compliance and high infrastructure expenditure. Europe holds the second largest market share led by Germany, U.K. and France. However, Asia Pacific region is expected to witness the fastest growth and emerge as the new hotspot for construction safety net manufacturers. Thriving real estate and highway construction industry in emerging nations like India and Indonesia will create a lot of opportunities.

Manufacturers should focus on developing lightweight yet durable safety nets that reduce the deployment time on sites. They must also offer rental and servicing options to tap the opportunities from infrastructure projects of short duration. Innovation in self-fastening and self-retracting net systems can boost their adoption across low and mid-rise construction sites. Overall, despite restraints, the future outlook for construction safety net market is promising if manufacturers align their offerings, according to the industry and regional dynamics.

Construction Safety Net Market Drivers

• Stringent safety regulations and compliance: The implementation of stringent safety regulations by regulatory bodies such as the Occupational Safety and Health Administration (OSHA) in the U.S. and similar organizations, globally, is compelling construction companies to adopt adequate fall protection systems including safety nets. For instance, from May 16, 2023, OSHA will prioritize inspections for falls from heights across all industries. This nationwide program allows inspectors to open investigations at elevated levels. Each OSHA office will develop inspection lists targeting construction projects in the area. Falling hazards are weighted more heavily in OSHA's performance evaluations.
• Increasing construction activities and investments: The gradual recovery across construction sectors from the economic downturn coupled with large-scale investments in infrastructure development, housing, and commercial real estate projects globally are contributing to the rising adoption of construction safety nets. For instance, on April 24, 2023, according to the new World Bank Data, private investment in infrastructure projects in developing countries made a strong comeback in 2022, with a 23% jump in commitments as compared to 2021. However, the number of projects remains below pre-pandemic levels, thus indicating a potential need for further encouragement of private involvement.
• Rising demand from developing economies: The expanding construction and infrastructural development activities in developing countries of Asia Pacific, Latin America, and Middle East & Africa are creating significant opportunities for construction safety net vendors. Countries such as India, Brazil, U.A.E., Saudi Arabia, Thailand, Indonesia, and Mexico are undertaking large-scale residential, commercial and infrastructure projects to accommodate their rising urban populace.
• Increased safety awareness among workers: There is a growing awareness among construction workers regarding workplace accidents, which account for around 60,000 fatalities every year worldwide as per ILO (International Labour Organization) estimates. Construction associations are conducting training programs to educate workers about potential fall hazards and prevention strategies including the proper installation and use of safety nets and barriers.

Construction Safety Net Market Opportunities

• Innovation in smart safety technologies: Construction companies are seeking safety solutions that can provide real-time monitoring and surveillance. Safety net manufacturers have an opportunity to integrate their products with Internet of Things and sensor based technologies to provide intelligent and automated safety systems. For instance, Teijin Limited, a global technology leader in various fields, launched its new Teijin Smart Safety website on November 10, 2020. This website showcases the company's innovative safety solutions that are designed specifically for firefighters, police, emergency personnel, and other first responders who regularly face hazardous situations.
• Growing demand for modern agriculture: The agriculture industry is creating lucrative opportunities for safety net manufacturers, with the growth in commercial greenhouses and vertical farming installations globally. Safety nets are used in greenhouse cladding and shading while vertical farms utilize protective netting.
• Infrastructural development in emerging economies: Rapid urbanization in emerging economies is leading to massive investments in infrastructural projects to build new mega cities, highways, railways, ports, power plants and dams. According to Price Waterhouse Coopers, the annual expenditure on infrastructure in emerging markets will rise to around US$2.2 trillion per year by 2025.
• Mergers and acquisitions: The safety net market is fragmented with the presence of several regional and local manufacturers. Larger global players can expand their market share and distribution network rapidly through strategic mergers and acquisition deals with smaller companies.

Construction Safety Net Market Trends

• Customized safety solutions: Construction companies are increasingly seeking customized or purpose-built safety nets that are suitable for unique applications like inclined surfaces, circular structures, railings, temporary roofs and open trenches on sites. Manufacturers are thus offering made-to-order nets for specific projects as opposed to standardized products.
• Multi-purpose safety nets: Construction firms prefer versatile multi-use safety nets that can serve various applications throughout different stages of projects to maximize Return on Investment. For instance, debris containment nets that are used during facade work can be repurposed as horizontal lifesaving nets later.
• Sustainable and eco-friendly materials: Due to rising environmental awareness, the construction industry is transitioning towards sustainable materials and processes. This green trend is driving safety net manufacturers to utilize recycled, lower carbon footprint, and biodegradable materials in their products
• Lightweight nets and accessories: Advanced polymer and composite technologies are enabling manufacturers to develop lightweight and high-strength safety netting systems. Lightweight nets are faster and easier to install while new engineered rope border materials like dyneema are remarkably durable despite being thinner.

Construction Safety Net Market Restraints

• High installation and maintenance costs: While safety nets are essential for worker safety, it involves significant installation and maintenance expenses which can deter smaller contractors. The procurement and specialized installation using cranes or temporary platforms, and ongoing inspection/repairs of nets entails sizable costs.

Counterbalance: The market players should focus on keeping the installation and the maintenance cost affordable for the contractors in the market.

• Price volatility in raw materials: The raw materials used in safety net manufacturing including polypropylene, polyethylene, nylon, steel, and polyester are primarily petroleum derivatives. Their prices thus fluctuate corresponding to the global crude oil price volatility.
• Lack of safety regulation awareness in emerging nations: While advanced regions like North America and Europe have defined safety norms, developing countries often lack stringent and well-enforced regulations for construction sites. This leads to low awareness about safety threats and prevention measures like proper net installation among contractors.

Counterbalance: Developing countries need to take part in awareness programs of the usage and installation of the construction safety nets.

New product launches

• In August 2022, Doka is a provider of innovative formwork, solutions and services in all areas of construction launched the Xsafe Catch Fan, an innovative safety solution that is designed to improve worker safety and efficiency on construction sites. The system features square-shaped vertical extensions that simplify assembly and make repositioning easier.
• On April 12, 2023, Safety equipment manufacturer Karam Group unveiled its new product, the safety fan net, at the 13th National Conference & Expo SHECON 2023. This innovative product offers 360-degree protection for workers at industrial and construction sites.

Figure 2. Construction Safety Net Market Share (%), By Product Type, 2023

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Top Companies in Construction Safety Net Market

• Safeway Safety Step
• UL Workplace Safety
• Safety Rail Company
• Guardian Fall Protection
• Ahlsell Fall Protection
• FallTech
• MSA Safety
• Honeywell Miller
• Buckeye Fall Protection
• Fall Protection Group
• 3M
• Cresto Safety Ab
• Buckingham Manufacturing Co
• Pure Safety Group
• Protecta Systems
• Safety Mech Sona
• POWER CLIMBER WIND
• Reliance Industries
• Super Anchor Safety
• ABS Safety

Definition: Construction safety nets refer to protective mesh netting systems that are designed to safeguard workers against potential fall and injury hazards at elevated construction sites. They provide passive fall prevention and secondary protection when used along with primary equipment like safety harnesses. Safety nets are installed below work areas across various structures like buildings, bridges, towers, and dams to mitigate risks that are involved in activities like scaffolding, maintenance, assembly, and material handling. Nets come in various durable materials like polypropylene, nylon, polyethylene, polyester and steel. They can be customized for specific applications and reused. Safety nets are crucial equipment ensuring construction site safety.

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