The global industrial protective footwear market size is
expected to reach USD 6.56 billion by 2024, according to a new report by Grand
View Research, Inc. The substantial growth prospects of the market can be
attributed to the rising number of worker accidents across global
organizations.
Comfort, innovation, safety, and
aesthetic value are the key characteristics of the industrial safety footwear.
The global shoe manufacturers over the years have been striving to integrate
these features into their products in order to offer improved safety in the workplace
as well as provide comfort to workers. Industrial protective shoes have been
facing a substantial demand from various industries to avoid fatalities and
accidents in the workplace.
With a paradigm shift towards
worker safety instead of maximizing profits, a huge demand has been created for
protective footwear in hazardous work environments and is anticipated to drive
the industry over the forecast period.
In the recent years, safety wear
has emerged as an increasingly preferred choice for many companies. These
safety products are essential for the prevention and protection against
occupational fatalities to workers as well as for the prevention of legal
action towards organizations.
However, the high sale volume of
spurious and cheap products in the industry is envisioned to challenge the
industry growth in the near future. Furthermore, due to the increasing
popularity and rising demand for premium branded safety shoes, these products
become the sole target for counterfeiting. Thus, high sales volume of
counterfeit and low-quality products are expected to challenge the industry
growth.
Europe industrial protective
footwear market by application, 2012 - 2024 (USD Million)
Browse full research report on
Industrial Protective Footwear Market
Further key findings from the
report suggest:
- Leather
footwear is presumed to emerge as a predominant product over the forecast
period. Leather is increasingly used in safety shoes to provide protection
against fatal electric shocks due to its non-conductivity. Moreover, a
genuine leather provides protection against falling objects, punctures,
cutting hazards, burns, and extreme weather.
- The rubber
safety shoe market was valued at over USD 120 million in 2015 and is
expected to grow at a considerable rate over the forecast period. With the
emerging use of intense colored rubber materials, safety shoes have now
become ergonomically enhanced, water resistant, and lightweight, thereby
making them a good choice for various industries.
- Construction
is expected to emerge as a predominant application segment over the next
eight years. Growth in this segment is primarily driven by the rising
number of workplace accidents, which has, in turn, fueled the adoption of
industrial shoes among infrastructure developers to improve occupation
safety.
- Europe led
the industry in terms of market share in 2015 and is expected to retain
its dominance over the forecast period. The demand in this region is
mainly driven by the implementation of standards and compliance with
stringent regulations that mandate the use of safety shoes at the
workplace. The widespread presence of safety shoe manufacturers in the
region is anticipated to drive the industry growth in the region.
- Low-cost
labor, capital, and raw materials, as well as low-interest loans and tax
incentives, have forced footwear manufacturers to migrate from North
America, UK, and Italy to Asia, especially China. Moreover, the Chinese
government is presently attracting footwear manufacturers with various
incentives and is working to shift the footwear production sites from the
coastal regions to internal territories.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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