Industrial Protective Footwear Market Is Predicted To Reach $6.56 Billion By 2024: Grand View Research, Inc.
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.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/industrial-protective-footwear-market
Further
key findings from the study 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.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/smart-textiles
Grand View Research has segmented the global industrial
protective footwear market on the basis of product, application, and region:
Industrial Protective Footwear Product Outlook (Revenue, USD Million,
2012 - 2024)
- Leather Footwear
- Waterproof Footwear
- Rubber Footwear
- Plastic Footwear
Industrial Protective Footwear Application Outlook (Revenue, USD
Million, 2012 - 2024)
- Construction
- Manufacturing
- Mining
- Oil and gas
- Chemicals
- Food
- Pharmaceuticals
- Transportation
Industrial Protective Footwear Regional Outlook (Revenue, USD Million,
2012 - 2024)
- North America
- Europe
- Asia Pacific
- RoW
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-industrial-protective-footwear-market
About Grand View Research
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, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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