According to a new
market report published by Transparency Market Research “IndustrialProtective Footwear Market - South America Industry Analysis, Trend,Size, Share and Forecast, 2014 - 2020,” the south america
industrial protective footwear market in was valued at USD 856.7
million in 2013, which is expected to reach USD 1321.8 million by
2020; growing at a CAGR of 6.5% from 2014 to 2020.
Increasing awareness
of workplace safety, government regulations and rapid industrial
development are the major factors driving the demand for industrial
protective footwear in South America. Apart from this, increasing
number of people employed in various business utilities is also
fuelling the demand for industrial protective footwear. In addition,
the stringent government regulations are also expected to boost the
demand for industrial protective footwear in this region.
Browse the full
Industrial Protective Footwear Market Report @ :
The large potential
of industrial protective footwear market in developing countries such
as Brazil, Chile, Peru, Colombia, Uruguay and Venezuela is expected
to attract new business utilities entering these markets. However,
the duties and regulations are expected to act as barriers for new
entrants. In order to sell the products in these regions, it is
mandatory for foreign manufacturing utilities to abide by these
government regulations.
The application of
industrial protective footwear held the largest share for industrial
protective footwear in Brazil. However, the pharmaceutical segment is
the fastest growing segment, growing at a CAGR of 8.2% from 2014 to
2020. The increasing demand for fast and early diagnosis and
sophisticated medical procedures is one of the major factors boosting
the growth in this segment. Apart from this, Brazil is one of the
major exporters of leather at the global level and employs a major
portion of the workforce in Brazil fuelling the demand for industrial
protective footwear in this country.
Browse the full
Industrial Protective Footwear Market Press Release @ :
The application of
industrial protective footwear in manufacturing segment held the
largest share in Colombia. However, pharmaceuticals segment is
expected to be the fastest growing application segment for industrial
protective footwear in Colombia, growing at a CAGR of 7.3% from 2014
to 2020. The increasing awareness about workplace safety and
government regulations are the major factors fuelling the growth in
this region.
Apart from this,
others held the largest application segment for industrial protective
footwear in Venezuela, Peru and Uruguay. However, pharmaceutical is
the fastest growing application segment for industrial protective
footwear in Uruguay growing at a CAGR of 10.4% from 2014 to 2020. In
Peru the application of industrial protective footwear in the others
segment is expected to grow at a fastest CAGR of 8.1% from 2014 to
2020. However, in Venezuela construction is the fastest growing
segment growing at a CAGR of 5.4% from 2014 to 2020.
However, for foreign
manufacturers to sell their products in South America there are
certain mandatory government regulations pertaining to labeling
requirements and documentation that are to be followed. Apart from
this, there are most favored nation rates and other duties such as
customs and sales tax to be paid affecting the prices of the products
and affecting their competitive proposition in the local markets.
These duties and regulations act as tariff and non-tariff barriers
for foreign players entering the industrial protective footwear
market in this region.
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Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=s&rep_id=3283
Major industry
participants include Jal Group (Italy), Cofra Holdings AG
(Switzerland), Elten GmbH (Germany), Honeywell Safety Products
(U.S.), VF Corporation (U.S.) and Rock Fall Ltd. (England) among
others. The report studies the industrial protective footwear market,
and provides estimates in terms of revenue (USD Million) from 2014 to
2020. Market estimates on the basis of application have also been
provided for Brazil, Chile, Peru, Colombia, Uruguay and Venezuela.
The market has been segmented as follows:
- Construction
- Manufacturing
- Oil and gas
- Chemicals
- Food
- Pharmaceuticals
- Transportation
- Others
- Brazil
- Chile
- Peru
- Colombia
- Uruguay
- Venezuela
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