The Global Industrial Protective Footwear Market Will Be Driven by Rising Awareness of Strict Regulations During the Forecast Period 2022-2027
Expert Market Research’s new report titled “Global industrial protective footwear market Report and Forecast 2022-2027′, gives an in-depth analysis of the global industrial protective footwear market, assessing the market based on its segments such as material, end-use, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.3%
Increased awareness of stringent rules and higher standards of worker and workplace safety across all organizations are expected to propel the growth of the market. Growing concerns and awareness of workplace safety are expected to further drive growth. Favorable conditions, such as low-cost labor, capital and raw materials, as well as low-interest loans and tax incentives, have led to the displacement of industrial production facilities from economies. developing from North America and Europe to Asia-Pacific, especially China. Rapid industrialization, along with the growth of end-user industries, such as construction, mining, food, pharmaceuticals, oil and gas, and the increase in government initiatives to improve the safety of employees in the workplace will support the growth of the industrial safety footwear market. Moreover, special training programs with the development of new stringent safety standards would further increase the demand for safety equipment during the forecast period.
Industry definition and major segments
Worker safety is ensured by using protective footwear in a variety of industries. Splinters, heavy falling or rolling objects, smooth surfaces, pinch points, rotating equipment, sharp edges, hot objects, energized loops of rope, electricity, chemicals, weather and other hazards protect the foot of the wearer. Safety footwear has seen various technological developments over the years, which has contributed to its growing demand.
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By Material, market is segmented into:
Market end uses include:
• Oil and gas
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The use of lighter composite materials for footwear is a growing trend in the industry. Leading shoe manufacturers focus on developing materials and solutions that combine protection, comfort and style in one shoe. These advancements in the industry are meant to inspire both men and women to use appropriate footwear at work. This is expected to further propel the growth of the market. The risk of electrocution increases as the importance of hybrid and fully electric vehicles continues to grow, influencing the demand for high quality safety footwear. In addition, industrial protective shoes help reduce strain and provide ample support for the feet. This directs the industrial approach towards the design and manufacture of safety footwear, influencing the growth of the market.
Main market players
The major market players are Honeywell International Inc, Wolverine World Wide Inc., Cat Footwear (Caterpillar, Inc.), Dunlop® Protective Footwear, Rock Fall (UK) LTD, Bata Corporation, and Hilson Footwear Pvt. Ltd, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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