Europe Industrial Protective Footwear Market to Reach US$2.59 bn by 2020 owing to Rising Workplace Accidents

Transparency Market Research has published a new report on the Europe industrial protective footwear market. The report, titled ‘Industrial Protective Footwear Market - Europe Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020,’ states that this market was valued at US$2.24 bn in 2013. Factors such as stringent government rules and the increasing number of workplace accidents are expected to boost the Europe market to reach US$2.59 bn by 2020. As per the report, the Europe industrial protective footwear market is expected to exhibit a steady 2.10% CAGR from 2014 to 2020.

Workers in the construction industry, manufacturing units, chemical laboratories, oil and gas plants, and other such industries are exposed to hazardous objects. Moving machinery in the manufacturing industries, chemical spills in the oil and gas industries, and falling objects at the construction projects typically pose a threat to the workers. The Europe industrial protective footwear market is primarily driven by the constant rise in the number of workplace accidents. The rise in the number of construction projects in the pipeline and the increasing number of oil and gas industries are further expected to propel the Europe industrial protective footwear market in the years to come.

For a better understanding of the market, it has been segmented on the basis of country and application. Italy, France, the U.K., and Germany are the major countries covered in the Europe industrial protective footwear market. Some of the leading players operating in the Europe industrial protective footwear market are Jal Group (Italy), Saina Group Co. Ltd. (China), Cofra Holdings AG (Switzerland), Rahman Group (India.), and Oftenrich Holdings Company Limited (Taiwan).

The Europe industrial protective footwear market serves various industries such as construction, oil and gas, chemicals, food, transportation, manufacturing, pharmaceuticals, and others. Currently, the manufacturing application segment dominates the industrial protective footwear market in Italy. However, the others application segment is predicted to exhibit a 3.20% CAGR from 2014 to 2020 owing to rapid industrialization.

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In 2014, the construction application segment held a dominant share in the U.K. industrial protective footwear market. Going forward, the food segment is predicted to exhibit the fastest growth in the U.K., progressing at a 3.50% CAGR from 2014 to 2020. The food application segment in the U.K. is primarily driven by changing government rules and the rising workplace safety awareness.

In Germany, currently, the manufacturing segment leads the demand for industrial protective footwear. The presence of many leading players operating in Germany is predicted to propel the manufacturing application segment in Germany throughout the forecast period.

The Europe industrial protective footwear market is highly competitive in nature. With regular advancements in technology, leading players are able to introduce new industrial protective footwear. The entry of new companies will also invite new product varieties. However, stringent government policies will act as barriers for new companies entering the Europe industrial protective footwear market. The availability of affordable industrial protective footwear is a threat to branded products. These factors are expected to restrict the growth of the Europe industrial protective footwear market in the near future.

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