Energia
Asia-Pacific to Lead Growth of the Personal Protective Equipment Market in the Wind Energy Industry by 2025
Wind energy PPE includes above-the-neck, respiratory, hand, foot, and fall protection, along with protective clothing. Among these, is the largest and fastest-growing product segment. It is expected to have a CAGR of 5.1% from 2020 to 2025.
, The Global PPE Market in the Wind Energy Industry is being Driven by Government Incentives and Initiatives,
"COVID-19 stalled the demand for PPE in the wind energy industry due to the temporary delay in wind farm installations. With economies expected to slowly recover and a renewed interest in environment-friendly and sustainable sources of electricity generation, the demand for PPE in the wind energy industry is expected to rise," said , Senior Research Analyst, Chemicals, Materials and Nutrition Practice, Frost & Sullivan. "Offshore wind farms and electric power grids are expected to further enhance PPE usage. Offshore wind turbines can produce more electricity, owing to the steady wind, but the construction, repair, and maintenance require more manpower than the traditional onshore wind turbine, thus driving the usage of PPE in the industry."
Roy added: "Tax and financial incentives along with favorable renewable portfolio standards (RPS) play a critical role in driving wind energy, correspondingly increasing the PPE usage across the world. In the , all construction on wind energy systems started by December 31, 2020 , can either receive the federal Business Energy Investment Tax Credit (ITC) or the federal Renewable Electricity Production Tax Credit (PTC). In , regulators approved subsidy-free projects of 11.4 GW of wind energy in 2020. And has lifted its ban on subsidizing new onshore wind farms, allowing floating offshore wind projects, in a new auction scheme announced in June 2020 ."
To expand revenue generation prospects, PPE manufacturers should explore these strategic recommendations:
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