Construction Industry Trends: June 2023 Roundup

North America: The Leading Region of Growth

According to the same report, North America is one of the regions leading the way in the safety market with more cutting-edge work safety solutions. The Bipartisan Infrastructure Law passed in 2021 also includes funding that specifically addresses enhancing safety standards and buttressing government requirements for safety.

Companies that wish to win government contracts for funding from the Bipartisan Infrastructure Law will need to invest in worker safety. North America accounts for $881.1 million of the global construction worker safety market share.

Other regions experiencing population growth (many in Asia) have experienced increased demand for construction to both expand their municipal footprint and house more people. All of this means that the expectation of continued demand for employment in the construction industry will likely extend to increased demand for construction worker safety equipment as well.

Cost Constraints on the Worker Safety Market

There are significant costs involved in updating construction site safety, from installing and maintaining new state-of-the-art machinery to re-training employees to use the equipment. This is cost-prohibitive for many smaller companies, especially in smaller countries where there aren’t robust levels of government funding going to private enterprise.

Despite the cost, there is a substantial need for workplace safety to guard against a wide range of dangers on the job site, from ergonomic disasters to chemical or biological threats. There is a renewed focus on investing in dependable safety solutions to safeguard a contractor’s greatest asset: their workers.

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