With workers’
safety emerging as utmost priority in industrial operations, the
prospects of the global industrial protective footwear market seem
promising. According to a report published by Transparency Market
Research (TMR) titled “Industrial
Protective Footwear Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2014 - 2020,” the market is
poised to surge at a CAGR of 6.0% from 2014 to 2020. The market stood
at US$6.3 bn in 2013 and is expected to reach a valuation of US$9.4
bn by the end of 2020.
Debris, equipment,
and other materials usually found strewn at an industrial site can
prove hazardous to workers’ health and safety. This makes wearing
protective gear imperative in industrial places. Protective footwear
designed particularly for workers helps safeguard their feet and
ankles against injuries. Industrial footwear provides both protection
and support to a worker’s feet. The global market for industrial
protective footwear features a wide range of products ranging from
sneakers and clogs to formal footwear, all of which are designed
based on stringent industry safety standards.
The report segments
the global industrial protective footwear market in terms of
application, product type, and geography. Based on product type, the
market constitutes leather, plastic, waterproof, and rubber footwear.
Of these, leather footwear led the market in 2013, with a valuation
of US$1.8 bn. However, the report projects the plastic industrial
footwear segment to exhibit a robust CAGR of 7.8% during the forecast
period, thereby emerging as the fastest growing product segment in
the market.
By application, the
industrial protective footwear market is segmented into mining,
manufacturing, construction, oil and gas, chemical, transportation,
pharmaceutical, and food. In North America, where a sizeable demand
for industrial protective footwear has been noted, the construction
industry reports the highest demand. The TMR report pegs the overall
valuation of the construction segment at US$668.6 mn in 2013. In the
forthcoming years, a change in the prevailing scenario is expected
with the oil and gas industry in North America reporting massive
demand for industrial protective footwear. The shale gas boom is
expected to be the key demand stimulator in the segment. According to
the TMR report, the value of the oil and gas segment stood at
US$158.4 mn in 2013.
The regional
segments of the global industrial footwear market include North
America, Asia Pacific, Europe, and Rest of the World. Among these
regions, Europe accounted for the largest share in the market in
2013. The region’s dominance is aided by the presence of numerous
shoe manufacturing enterprises in countries such as France, Germany,
Spain, Italy, and the UK.
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Furthermore, the
tightening industrial safety regulations in Asia Pacific, will prove
favorable for the expansion of the industrial protective footwear
segment in the region. Countries encompassed within the Rest of the
World, such as South America, will also exhibit a substantial rise in
the demand for industrial protective footwear.
To present insights
into the prevailing competition in the global industrial protective
footwear market, the report also profiles companies such as Honeywell
Safety Products, ELTEN GmBH, JAL Group, and COFRA Holding AG.
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Transparency Market
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blend of quantitative forecasting and trend analysis provides
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