Published Date : May 27, 2016
Ensuring workers’ safety has become pivotal for industrial organizations worldwide hence the prospects of the global industrial protective footwear market seem promising. The market is expected to witness lucrative opportunities in North America, where the construction industry is reporting strong growth. Asia Pacific is also expected to exhibit lucrative prospects for the enterprises operating in the global industrial footwear market. Europe however will emerge as the largest regional market for industrial protective footwear.
According to a report published by Transparency Market Research, the global industrial footwear market is expected to exhibit a CAGR of 6.0% between 2014 and 2020. The market, which stood at US$6.3 bn in 2013, is expected to reach a valuation of US$9.4 bn by the end of 2020.
The materials, equipment, and debris found scattered in an industrial site can prove hazardous to workers’ health and safety. This makes it important for workers to wear protective gears. Protective footwear are designed particular to safeguard worker’s ankles and feet against injuries. Industrial footwear also provide support to a worker’s feet. A variety of products ranging from sneakers and clogs to formal footwear are offered by enterprises operating in the industrial protective footwear market. These footwear are designed based on stringent industry safety standards.
Demand for Leather Industrial Footwear to be Highest
The global industrial protective footwear market can be segmented on the basis of application, product type, and geography. In terms of product type, the market includes plastic, leather, rubber, and waterproof footwear. Of these, the leather footwear segment stood at US$1.8 bn in 2013, accounting for the largest share in the market. However, in the forthcoming years the market is expected to witness rising demand for plastic industrial footwear, which is poised to exhibit the fastest CAGR of 7.8% between 2014 and 2020.
Europe Emerges as Dominant Region in Global Industrial Protective Footwear Market
The dominance of Europe in the global industrial footwear market will be aided by the presence of a large number of manufacturing units in countries such as the UK. France, Italy, Spain, and Germany. In North America, the industrial protective footwear market will gain from the rising demand from the construction and the oil and gas industry.