- Published on 20 September 2016
The Market Reports Center has released a new analysis of the hearing protection sector and forecasts that the market will grow at a rate of 10.05% over the 2016-2020 period.
The forecast of + 10.05% corresponds to the compound annual growth rate (CAGR), based on the organization’s calculations. The reports cites the industry leaders as Honeywell, 3M, and Phonak, while other companies playing a role in the market include Etymotic Research, Hellberg Safety, Hunter Electronic, NoNoise, Sensear, SensGard, Silenta, and Starkey Hearing Technologies.
According to the report, one of the major drivers for the sector will be demand from the energy industry, particularly companies involved in offshore oil platform operations. This specific area is expected to grow and is characterized by significant needs in terms of hearing protection for workers.
The report highlights that technological advances and product improvements will likely also support market growth. The current trend in the industry is to move toward lighter and more efficient solutions, since conventional devices are often considered heavy and uncomfortable by users.
One of the challenges to the industry is expected to be the development of alternative solutions. Two main focuses in this area are organizational changes that are aimed at reducing worker exposure, and technical control measures such as low-noise machinery or the development of sound barriers around particularly noisy equipment.Source: MedGadget; Market Reports Center