Leading market research firm, Transparency Market Research (TMR) has released an exhaustive report on the global industrial protective footwear market for the forecast period 2014–2020. The report offers an iterative review of the demand and supply trends and other critical analysis.
With the dominance of key players, including Sofra, Jal Group, and Safetal, the Italy market is expected to support the Europe region alongside the U.K., Germany, Spain, and France. In terms of application, the market for industrial protective footwear in North America will thrive on the back of construction and oil and gas segments. Nations such as Africa, Brazil, Korea, China, Taiwan, India, and South America are predicted to demonstrate high growth, thus strengthening the Asia Pacific (APAC) and Rest of the World (RoW) markets.
Plastic Footwear to Outshine Other Segments by Type
The global value for industrial protective footwear market is envisaged to touch US$9.4 bn by 2020 at a CAGR of around 6.0% from US$6.3 bn in 2013. The plastic footwear segment according to product type is foreseen to grow at a rapid rate throughout the forecast period while maintaining an estimate 7.8% CAGR. Europe raked in a mammoth share in the international market in 2013, riding on a colossal value of the leather footwear product type segment achieved in the same year.
Safety Regulations for Industrial Workers by Governments Propel Growth
The application of industrial protective footwear is spanned across segments such as chemicals, pharmaceuticals, construction, mining, transportation, oil and gas, manufacturing, and food. Each of these industrial utilities necessitate a customized or specific make of industrial protective footwear to fulfill their workplace safety and other requirements. One of the key features of safety boots used as protective footwear across various industries is the protective reinforcement around the toe area.
In most countries, it is mandatory for industrial workers to be equipped with a protective gear for the feet while on duty. Safety boots are made compulsory for workers in almost all industries, owing to occupational health and safety regulations. Besides this, industrialists around the globe are looking forward to improve work standards while also keeping up with the safety measures laid down by the governments. Industrialists are also required to follow the safety shoe guidelines authored by the government of the country that the workers are functioning in. For instance, production of safety boots in the U.S. is expected to work in agreement with the standards of the American National Standard for Personal Protection-Protective Footwear (ANSI).
The rise in the incidence of worker safety issues and worker accidents is also anticipated to add to the growth of the global industrial protective footwear market apart from the elevating trend of environment friendly products.
Developing Segments to Make Up for Restraints
With a broad overview and in-depth evaluation of crucial market restraints, the report elaborates on the challenges that the industrial protective footwear businesses may face during the forecast period. The market growth may be impeded by the automation of the production process and low quality of products. However, market opportunities in emerging segments such as APAC and RoW are anticipated to compensate for the restraints.
Along with market trends, the report explains the future outlook of the global industrial protective footwear market. Interested buyers of the report can also have access to the financial and business information, business strategies, and recent development of each key player discussed.
The information presented in this review is based on a TMR report titled“Industrial Protective Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.”
Key Segments of the Global Industrial Protective Footwear Market
Industrial Protective Footwear Market: By Geography
- North America
- Asia Pacific
- Rest of the World
Industrial Protective Footwear Market: By Type
- Leather footwear
- Waterproof footwear
- Rubber footwear
- Plastic footwear
Industrial Protective Footwear Market: By Application
- Oil and Gas
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