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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