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.
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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.
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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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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