Protective Footwear Market Analysis, Key Trends, and Top Manufacturers
Global
protective
footwear market is anticipated to witness an exponential
growth in the forecast period. Protective Footwear, also termed as “safety
shoe” or “boot”, is a defensive equipment that helps to defend foot from direct
compression threats and falling objects. The factors that propel the growth of
the market include rapid industrial development, increase in the number of
accidents, increasing consciousness among people, government rules and
regulations regarding workers safety, and introduction to innovative products.
On
the other hand, there are factors that may hamper the growth of the market
including lack of awareness among workers in emerging countries and cheaper
alternatives to safety shoes. Protective footwear market is anticipated to
expand at a significant CAGR in the upcoming period as the scope, product
types, and its applications are increasing across the globe.
Emerging
trend in the market is the usage of lighter compound material in the protective
footwear manufacturing. For e.g. Uvex i-genomics are innovative in their way.
Properties such as light weight, optimum fit, and exceptional temperature
regulation define Uvex I-genomics shoes. This product offers every type of
safety and comes in diverse styles. Key players are working in the production
of light composite materials and planning to come with new style, comfort, and
protection all in one shoe.
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Protective
footwear market could be explored by product type, application, end user, and
geography. Market could be explored by product type as Rubber Footwear, PVC
Footwear, Pu Footwear, and Other. The key applications that could be explored
in this market include Metallurgical, Building, Port, Mines and other.
Market
could be explored by end user as chemical industry, construction industry,
manufacturing industry, and oil and gas industry and mining industry. The
“Construction Industry” segment led the protective footwear market in 2017 and
will continue to lead in the forecast period. The key factors that may be
attributed to the growth of the sector include increasing number of workplace
coincidences and growing acceptance of safety shoes in order to develop
work-related safety.
North
America accounted for the major share of the protective footwear market in 2017
and will continue to lead in the forecast period. The factors that could be
attributed to the growth include rising demand for construction, oil & gas,
mining, and pharmaceutical companies and growing demand for women’s safety
footwear. North America is followed by Europe and Asia-Pacific.
Some
of the key players that fuel the growth of the protective footwear industry
comprise Rocky Honeywell, Lehigh Safety Shoes, Georgia Boot, Ariat, Durango,
Black Diamond, Baffin, Dan Post, Blundstone, Florsheim, Dr Martens, Kodiak,
Impacto, Reebok, Puma, Thorogood, Royer, Xtratuf, Terra, and Tingley. The
leading companies are taking up partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
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