According to an analysis by Future Market Insights (FMI), the industrial safety footwear market size is expected to be valued at US$ 18.99 Mn in 2032, with a 6.3% CAGR during the forecast period.
Rapid industrialization, combined with expanding end-user sectors such as construction, mining, food, pharmaceuticals, and oil & gas, as well as rising government measures to improve worker safety, will drive the industrial safety footwear market forward.
Furthermore, over the projection period, exceptional training programs in conjunction with new severe safety regulations will improve the safety equipment device.
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The global market for industrial safety footwear is exploding as a result of technological advancements and the strengthening of current safety regulations and standards. Among the national organisations that adhere to a set of safety recommendations are BSI, ILO, and OSHA.
The authorities mandate that firms provide their staff with approved safety equipment while they are at work.
Additionally, because of the COVID-19 epidemic, consumers put off or delayed purchasing non-essential goods and services like clothing, footwear, and home appliances during the lockdown period, which decreased demand for footwear.
The market for industrial safety footwear was also impacted by the temporary closure of manufacturing facilities and the manufacturing industries.
However, after gaining a better grasp of the problem, the government has enacted several regulations to prevent duplication and maintain product quality. As a result, safety products must pass a rigorous quality check without jeopardizing the safety criteria.
For example, the American National Standards Institute (ANSI) develops and oversees industry safety footwear standards, assisting in removing the aforementioned impediment.
There is a slight chance that low-quality products will be prevalent, which will indirectly increase workplace dangers due to poor product quality.
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Key Takeaways:
- With a market size of over USD 8.50 billion and a CAGR of over 6.5% over the forecast period, the leather industrial safety footwear market is expected to hold the largest share in 2020.
- In 2027, the construction industry’s industrial safety footwear market is estimated to exceed USD 4.95 billion.
- By 2027, the North American market is estimated to reach USD 5.40 billion, with a CAGR of over 6% during the forecast period. In North America, manufacturing is the fastest expanding application segment for industrial safety footwear.
- Over the forecast period, the rising adoption of health and safety standards to prevent workplace fatalities is predicted to boost the demand for safety footwear.
Competitive Landscape:
Manufacturers are investing in innovative technology and product development to capitalize on the increased demand for industrial safety footwear in the coming years.
Honeywell International, Inc, JAL Group France SAS, COFRA S.r.l, Rock Fall Ltd, Uvex Group, Anbu Safety Industrial Co., Ltd, Hillson Footwear Pvt. Ltd, Bata Industrials, and Williamson-Dickie Manufacturing Co. are all significant players in the industrial safety footwear market.
- At a safety show in Dubai in February 2020, Rock Fall Ltd introduced new safety footwear designs from its firefighting, electrical hazard, and extreme heat protection boots. This release has the world’s first arc-rated electrical hazard boot. As a result, the company’s launch supports them in improving their portfolio and raising more revenue in the following years.
- Major market competitors are working on lightweight composites to reduce the pain associated with typical PVC, such as heaviness and difficulties walking. In addition, expansion is one of the most common tactics businesses use to expand their global reach.
Key Market Segments
By Material:
- Leather
- Rubber
- Plastic
- Waterproof
By Application:
- Construction
- Manufacturing
- Oil & Gas
- Chemicals
- Transport
- Mining
- Food
- Pharmaceuticals
By Product:
- Shoes
- Boots
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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