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New Opportunities Emerge in Global PPE Market, Product Differentiation Crucial to Success - Product differentiation at affordable pricing is the way forward
New Opportunities Emerge in Global PPE Market, Product Differentiation Crucial to Success

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2014/10/08 - Product differentiation at affordable pricing is the way forward.

   
 
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As most personal protective equipment (PPE) markets in developed countries are mature, PPE manufacturers are targeting developing economies, taking into account, product and service differentiation that suits the specific needs of each market. Robust differentiation strategies are particularly important in developing economies, which look for unique products from global manufacturers, especially in segments such as above-the-neck protection. In segments like protective gloves and fall protection, developing economies expect manufacturers to compete mainly on price.

New analysis from Frost & Sullivan, Is There a Need for PPE Product Differentiation for Developing Economies?, finds that Latin America (LATAM) ranked highest in PPE market revenues amongst developing economies in 2013, followed by China, Russia, Asia-Pacific, the Gulf Cooperation Council (GCC) and India. The study covers gas detectors, above-the-neck protection, protective gloves, respiratory protection, work wear and protective clothing, protective footwear and fall protection.

“Rising safety consciousness, greater end-user adherence to safety standards, and globalization of industrial sectors are key drivers for the PPE market in developing economies,” said Frost & Sullivan Chemicals, Materials & Food Senior Research Analyst Aparna Balasubramanian. “While demand generated from increasing compliance rates, infrastructure growth, better awareness, and shifting manufacturing bases will drive PPE volume growth, price growth is expected to come from the rising market penetration of higher-priced products offered by global companies.”

However, PPE manufacturers must overcome lax regulatory enforcement and dominance of private-labeled and generic local products in some developing economies to effectively tap the market.

“Ultimately, the success of any product differentiation strategy depends on whether the product aligns with customer requirements and expectations in the target market,” concluded Balasubramanian. “Although key market expectations or product selection criteria are applicable worldwide, the order of importance of these criteria varies between developed and developing economies.”

By entering developing economies, top PPE manufacturers can fuel global brand growth, take advantage of large untapped potential, and exploit the opportunity to meet needs for sophisticated products. Large PPE manufacturers have already invested in locations such as Russia, Central and Eastern Europe, GCC, Africa, LATAM and India. Their product differentiation strategy for each country varies to cover parameters including technological sophistication, product design, fashion and style, material and performance.

Is There a Need for PPE Product Differentiation for Developing Economies? is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan’s related studies include: Personal Protective Equipment in Marine Transportation, Analysis of the Global Mining Industry PPE Market, Strategic Analysis of the North American Above-the-neck Personal Protective Equipment Market, and Analysis of the Americas Oil and Gas Personal Protective Equipment Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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Is There a Need for PPE Product Differentiation for Developing Economies? / NE63-39

 
 
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New Opportunities Emerge in Global PPE Market, Product Differentiation Crucial to Success

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Global PPE Market | Frost & Sullivan
Publisher Contact: Ariel Brown - Frost.com 
210-247-2481 ariel.brown[.]frost.com
 
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