Industrial Protective Footwear Market Research, 2031
The global industrial protective footwear market was valued at $4,217.30 million in 2020, and is projected to reach $11,027.00 million by 2031, growing at a CAGR of 7.9% from 2022 to 2031. A wide variety of industrial protective footwear such as rubber, leather, and plastic footwear are used by consumers to protect themselves from injuries due to falling objects, electrical contacts, moving machinery, and others during industrial work. Rapid industrial development, rise in health concerns, and increase in awareness toward workers’ safety in industrial sector fuel the growth of the industrial protective footwear market.
Protective footwear is designed to provide protection & comfort and avoid foot fatigue, thereby ensuring safety of workers and improving their working efficiency. Features such as improved slip resistance, reduction of foot fatigue, and increased support for the arch & heel are being incorporated in the industrial protective footwear, by the players operating in the market.
According to industrial protective footwear market analysis, the global industrial protective footwear market is segmented on the basis of type, application, distribution channel and region. On the basis of type, the market includes leather footwear, waterproof footwear, rubber footwear, and plastic footwear. By application, the market is categorized into construction, manufacturing, mining, oil & gas, chemicals, food, pharmaceuticals, and transportation. On the basis of distribution channel, it is bifurcated into offline and online. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Although leather footwear segment accounted for the highest market share in 2020, the plastic footwear segment is expected to witness the fastest growth during the industrial protective footwear market forecast. This is attributed to its resistance against low temperature, crack, UV radiation, and waterproof nature.
In 2020, the construction segment held the majority industrial protective footwear market share and is expected to hold a significant share in the global market during the forecast period. This is mainly due to rising number of construction and development projects.
In 2020, the offline distribution channel segment dominated the industrial protective footwear market owing to offline distribution channel being a preferred choice by consumers and industrial workers as this footwear protect feet while doing risky and heavy tasks.
In 2020, in terms of region, North America dominated the market share and is expected to grow at a steady pace in the industrial protective footwear market followed by Europe, mainly because of growing industrialization in the UK and Germany. Asia-Pacific region is expected to emerge as a leading market over the forecast period. The growth in this region is mainly driven by the introduction of regulations that mandate the usage of safety shoes in the work environment along with occupational safety standards. Growing adaptation of health and safety practices to reduce workplace fatalities, are expected to surge the product demand for protective footwear over the forecast period.
The significant growth of the construction industry in developing economies such as India and China, are supporting the market growth in the region. In North America, the rising demand for industrial safety shoes in the region can be attributed to growth of markets coupled with stringent legislations in the U.S.
Rapid development in various industries has increased the workforce globally. However, factory workers face extended work hours, poor working conditions, and job instability. This has a high impact on the growth of the market. Stringent government regulations regarding workplace safety have resulted in increased demand for protective shoes.
Key market players have implemented various strategies such as product launch, partnership & agreement, business expansion, and product innovation. Product launches accounted for 60% of the overall key strategies, whereas partnerships, business expansion, and product innovation together accounted for around 40%.
Key market players such as Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, and Rock Fall Ltd., enhance their product portfolios by launching industrial protective footwear with higher quality for different applications. For instance, in 2016, Rock Fall Ltd. launched Melanite, which is designed for uniform services, facility management, and security & patrol services.
The companies profiled for the industrial protective footwear industry are Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, and Rock Fall Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial protective footwear market analysis from 2020 to 2031 to identify the prevailing industrial protective footwear market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial protective footwear market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial protective footwear market trends, key players, market segments, application areas, and market growth strategies.
Industrial Protective Footwear Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Oftenrich Holdings Co. Ltd., Jal Group, Rahman Group, VF Corporation, Honeywell Safety Products, COFRA Holding AG, elten gmbh, Rock Fall Ltd., UVEX Safety Group, Saina Corporation Co. Ltd. |
Analyst Review
Europe has emerged as the largest market for industrial protective footwear. Health legislations and occupational safety mandates in countries such as the UK and Germany are the major factors that boost the growth of the industrial protective footwear market in the region. Moreover, industrialists focus on improving the safety standards of workers for better working environment. LAMEA is anticipated to be the fastest market over the next 5-6 years due to increase in safety concerns and rise in industrialization.
The penetration of industrial protective footwear is significantly less in the Asia-Pacific region as compared to developed markets, owing to lower awareness regarding safety and security of workers. However, the region is anticipated to show an increased demand in the coming years. Oil & gas segment would exhibit the highest growth rate in Asia-Pacific due to increase in safety regulations.
The established brands have adopted business expansion, and product innovation as their prominent growth strategies to strengthen their foothold in the market. For instance, in 2017, Uvex Safety joined forces with HexArmor. Uvex Safety would sell and market HexArmor safety products, adding high level cut, puncture, impact and abrasion resistant hand protection to its existing range.
The global industrial protective footwear market size was valued at $4,217.3 million in 2020, and is projected to reach $11,027.0 million by 2031, registering a CAGR of 7.9% from 2022 to 2031.
The forecast period in the industrial protective footwear market report is 2022 to 2031.
The base year calculated in the industrial protective footwear market report is 2020.
The top companies analyzed for global industrial protective footwear market report are Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, and Rock Fall Ltd.
The leather footwear segment is the most influential segment in the industrial protective footwear market report.
North America holds the maximum market share of the industrial protective footwear market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
The market value of the industrial protective footwear market in 2020 was $4,217.3 million.
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