The industrial protective footwear market was valued at USD 3.29 billion in 2015. The implementation of workplace standards and stringent regulations across the globe, mandating a high standard of worker safety and health across industries, is driving the global industrial protective footwear market.
The global industrial protective footwear market is anticipated to witness a significant growth over the forecast period, owing to the compliance with stringent regulations, mandating an elevated standard of worker and workplace safety across organizations, along with the growing concerns regarding workplace safety across the world.
The industry includes products that are designed to enhance occupational safety in industries. The demand for such products is primarily high in various industries encompassing a high rate of occupational fatalities, including manufacturing, pharmaceuticals, oil & gas, construction, transportation, and chemical industries.
An emerging trend in the industry is the use of lighter composite materials in the manufacturing of shoes. Key manufacturers are working on the development of materials and footwear that incorporate protection, comfort, and style, all in the same footwear. These developments in the industry are envisioned to persuade both men and women to use proper shoes at workplace
However, there exists a high sale volume of low-quality, inexpensive products in the industry. A large number of local manufacturers are producing cheap safety shoes by using spurious and low-quality materials. The key premium brands are facing strong competition, owing to the rising adoption of these inexpensive shoes, which in turn, is anticipated to challenge the industry growth over the forecast year.
Europe industrial protective footwear market by application, 2012 - 2024 (USD Million)
The application of industrial protective shoes in construction is anticipated to emerge as the leading segment over the next eight years. It accounted for close to 35% of the overall market share in 2015. The growth in this segment can be attributed to an increase in the number of fatal accidents that has driven the increase in the adoption of safety shoes among builders to enhance worker safety.
The market for industrial protective shoes in the manufacturing application was valued at close to USD 550 million in 2015, which is presumed to grow at a significant rate over the next eight years. The growth in this application segment can be attributed to the intensive use of flammable liquids, considerable fire hazards, and the widespread use of assembling machines and presses in the manufacturing industries, which increases the risk of accidents at workplace.
The oil & gas application segment is expected to witness considerable growth, growing at a CAGR of close to 9.0% from 2016 to 2024
Products analyzed in the report include leather, waterproof, rubber, and plastic footwear. Leather boots and shoes dominated the global market share in 2015 and are expected to retain their dominance over the forecast period. Leather is a non-conductive material and is, thus, significantly used in protective footwear to offer safety against hazardous electric shocks.
The demand for waterproof boots is expected to witness considerable growth in the recent future, owing to its features such as slip-resistance and water-resistance. The market for waterproof shoes is expected to grow at a CAGR of close to 7.5% over the forecast period.
The market for rubber safety shoes was valued at close to USD 120 million in 2015, which is presumed to witness a considerable growth over the next eight years. An emerging trend in the industry is the use of bright-colored rubber material for the manufacture of safety shoes. Rubber safety shoes are water resistant, lightweight, and can be easily cleaned, thereby making them a preferred option across several industry verticals.
Europe is anticipated to emerge as a predominant region over the forecast period. The growth in this region is largely driven by the introduction of occupational safety standards and compliance with stiff regulations that mandate the usage of safety shoes in the work environment. The region encompasses a large presence of such manufacturers in various countries across the region.
North America accounted for over 30% of the overall industry share in 2015 and is envisioned to grow at a considerable rate over the next eight years. The growing demand for safety shoes in the region can be attributed to the growth of niche markets coupled with stringent legislations in the U.S. In addition to this; the region encompasses an increasing demand for women’s safety shoes, which, in turn, is anticipated to fuel the growth in the years to come.
Asia Pacific is estimated to witness a substantial growth over the forecast period, growing at a CAGR of over 8.5% from 2016 to 2024. The increasing health and safety practices, in order to reduce workplace fatalities, are expected to surge the product demand over the forecast period. The growing construction industry in China and India is presumed to drive the market in the near future.
Competitive Market Share Insights
Key companies in the industry include Dunlop Boots, Honeywell Safety Products, JAL Group, Uvex Safety Group, Rock Fall, VF Corporation, Wolverine, Anbu Safety, and Hewats Edinburgh. Manufacturers are increasingly working on the development of low-cost, comfortable, static-dissipative, slip-resistant, lightweight, and durable safety shoes for use in industries. Companies are developing lightweight composites to minimize the problem of discomfort, such as heaviness and difficulty in walking, associate with traditional Polyvinyl Chloride (PVC).
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