The new report by Expert Market Research titled, ‘Global Industrial Protective Footwear Market Share Report and Forecast 2022-2027’, gives an in-depth analysis of the global industrial protective footwear market, assessing the market based on its segments like materials, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.3%
Increased awareness of severe rules and enforced higher standards of worker and workplace safety across organisations are projected to propel the market growth. Rising concerns and awareness regarding workplace safety are anticipated to further drive the growth. Favourable conditions, such as low-cost labour, capital, and raw materials, along with low-interest loans and tax incentives, has resulted in the shifting of industrial production facilities from the developing economies of North America and Europe to the Asia Pacific, especially China.
Rapid industrialisation, along with growing end-user industries, such as construction, mining, food, pharmaceutical, and oil and gas, and rising government initiatives to enhance employee safety in the workplace will support the industrial safety footwear market growth. Moreover, special training programs with the development of new strict safety standards would further increase the safety equipment demand over the forecast period.
Industry Definition and Major Segments
Worker safety is ensured using protective footwear in a variety of industries. Splinters, heavy falling or rolling things, slick surfaces, pinch points, rotational equipment, sharp piercing edges, hot objects, rope loops under strain, electricity, chemicals, severe weather, and other hazards protect the wearer’s foot. Safety footwear has seen various technological developments over the years, which has aided its growing demand.
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By material, the market is segmented into:
The end uses of the market are as follows:
• 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 shoe manufacturing is an increasing trend in the industry. Key footwear manufacturers are concentrating on developing materials and solutions that combine protection, comfort, and style in a single shoe. These advancements in the industry are intended to urge both men and women to use appropriate footwear at work.
This is expected to propel the market growth further. The risk of electric shocks is increasing as the importance of hybrid, and fully electric vehicles continue to grow, influencing the demand for high-quality safety shoes. Additionally, industrial protective footwear helps to reduce strain and lead to sufficient support for the feet. This is driving the industrial approach toward designing and manufacturing safety footwear, influencing the market growth.
Key Market Players
The major players in the market 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 the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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