Global Industrial Protective Footwear Market Projected to Lead USD 9.8 Billion by 2021
The global industrial protective footwear market is segmented into raw material such as leather, plastic and rubber. Among these segments, leather segment accounted for the largest segment in overall industrial protective footwear market and is projected to seize a remarkable CAGR by the end of 2021. Likely, global demand is increasing for protective footwear as every nation is looking forward to increasing the export value based on manufacturing and mining activities. In addition to that, spiked demand of chemicals used for industrial purpose is on a continuous rise and having a safety in such working conditions, the demand for protective clothes and shoes is a pre-requisite.
The construction segment by application captured the biggest market of global industrial protective footwear. In terms of regional platform, North America and Europe region are the prominent regional markets of industrial protective footwear. Moreover, rising construction activity and safety guidelines during work hours would escalate the demand for industrial protective footwear in these regions. Apart from this, Asia-Pacific region is believed to be the most lucrative market of Industrial Protective Footwear owing to emerging economies such as India and China. Asia-Pacific construction market is expanding at a higher pace when compared to North America and Europe. Countries like China, India, South Korea are boosting the demand for employment in construction sector.
Global industrial protective footwear market is anticipated to post a noteworthy CAGR of 6.2 % during the forecast period i.e. 2015-2021. Moreover, the global industrial protective footwear market is projected to account exponential sales of USD 9.8 Billion by the end of 2021. Additionally, the market is riding on the back of spiked growth in construction and oil & gas industry. Moreover, strict rules concerning workers safety and protection and rising concerns towards workplace safety all over the globe.
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Spiked Construction Activity
U.S. Bureau of Labor Statistics reported employers added 2.8 million jobs from September 2014 to September 2015, with 1.8 million created in the first nine months of 2015. This factor is envisioned to foster the growth of industrial protective footwear market.
Rising development of smart infrastructure in developing and developed nations such as U.S., China, Japan, India and others is the key factor behind the positive growth of industrial protective footwear market. Furthermore, expansion in manufacturing capabilities would further increase the demand of safety equipment including protective footwear.
The report titled “Industrial Protective Footwear Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global industrial protective footwear market in terms of market segmentation by raw material, by type, by application and by region.
On the contrary, presence of un-organized manufacturers and lack of government standards are believed to hamper the growth of industrial protective footwear market across the globe.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global industrial protective footwear market which includes company profiling of Dunlop Boots, Honeywell Safety Products, Uvex Safety Group, Rock Fall, Wolverine, Anbu Safety, Rahman Group, Oftenrich Holdings Co. Ltd., VF Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial protective footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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