FactMR has actively published a new research study titled "Product Fall Protection Systems Market Value Projected to Expand by 2018 to 2028 | Key Players are w.w. Cannon Inc., CERTEX USA Inc., US Cargo Control, etc." to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the product fall protection systems market during the period from 2018-2028. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global product fall protection systems market is expected to showcase impressive growth at 4.2% CAGR during the period until 2028.
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Transportation service providers are analyzing damage risks for products at the time of transit to develop risk-specific equipment, which in turn is likely to pave new opportunities in the product fall protection systems market. Various industries including manufacturing, pharmaceutical, chemical, and food & beverage, are employing product fall protection systems for optimizing procedures to secure products during shipping.
FactMR recent study foretells that the product fall protection systems market will record a modest 4.2% value CAGR over the period of forecast, 2018 to 2028. Improving product safety along with aiding productivity enhancement in various manufacturing process are key benefits of product fall protection systems that have driven their market expansion. The product fall protection system market will also remain influenced by robust application in flat rack securing, warehousing and railcar securing.
With the warehousing industry’s uptake, fuelled by expansion of ecommerce and proliferation of online trading platforms, rack safety products such as pallet rack safety nets have observed significant adoption in recent years. With employees and goods protection being one of the primary agenda of the warehousing industry, pallet rack safety nets are extensively employed. Manufacturers of rack safety products are mandated to comply with regulatory standards such as the National Fire Protection Association’s longitudinal flue space requirements. These standards have further improvised equipment development.
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Most of the product fall protection systems such as cargo bednet, cargo stabilization bar, and cargo load bags find numerous applications in the transportation and logistics industry. The increasing growth of the world trade industry and e-commerce sector has therefore been driving growth of the transportation and logistics industry. It has further created maximum demand for goods protection equipment, thereby fostering expansion of the product fall protection systems market.
However, recent changes in the foreign trade policy are likely to impact the import and export activities, which may hamper the demand for warehousing and transportation services. This will further inhibit expansion of the product fall protection systems market to a certain extent. For example, border tax adjustments, or BTAs is an important part of the changes trade policies, which imparts taxes on goods imported from countries and do not impose any rules or regulations to control emissions from various manufacturing companies. This might impact the transportation & logistics industry in various countries, impeding the overall growth of the product fall protection systems market.
Absence of laws and regulations apropos of product safety in most of the developing as well as underdeveloped nations is another key factor impeding growth of the product fall protection systems market. Additionally, lack of awareness on availability of advanced product safety equipment among manufacturing facilities has hindered adoption, thereby curbing the growth potential of the product fall protection systems market. With the primary focus of warehouses being dedicated to pallet storage, risks of product damage against the backdrop of falls remains high in warehouses. This is paving requirements among warehouse owners to prevent products from being damaged.
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Product Fall Protection Systems Market Value Projected to Expand by 2018 to 2028
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