How Much Revenue Industrial Protective Footwear Market Will Generate Globally Till 2024? |Grand View Research, Inc.



The global industrial protective footwear market size is expected to reach USD 6.56 billion by 2024, expanding at a CAGR of 6.9%, 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.
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.
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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 industrial protective footwear 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.
The Europe industrial protective footwear market is expected to witness significant growth over the forecast period on account of the widespread presence of safety shoe manufacturers in the region. Implementation of standards and compliance with stringent regulations mandating the use of safety shoes at the workplace is anticipated to drive the regional product demand over the forecast period.
The market includes products 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, such as manufacturing, pharmaceuticals, oil and gas, construction, transportation, and chemical industries.

An emerging trend in the industry is the use of lighter composite materials for manufacturing shoes. Key manufacturers are working on the development of materials and products 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.
A large number of local manufacturers engage in producing cheap safety shoes by using spurious and low-quality materials, which has resulted in augmenting the sale of low-quality, inexpensive products. Key premium brands are facing strong competition, owing to the rising adoption of these inexpensive shoes, which, in turn, is anticipated to challenge the market growth over the forecast period.
Comfort, innovation, safety, and aesthetic value are the key characteristics of industrial safety footwear. Over the years, the global shoe manufacturers have been striving to integrate these features into their products to offer improved workplace safety as well as provide comfort to workers. Industrial protective shoes have been facing substantial demand from various industries to avoid fatalities and accidents in the workplace.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-industrial-protective-footwear-market
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
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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