Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Introduction to Unbreakable Shoes
Unbreakable shoes are the work boots which are highly tech oriented and resembles to sneakers. They can be used by users who are working at manufacturing plants, factories, construction sites and places which demand work on heavy equipment. These shoes are well-suited for any type of activity which needs physical and rigorous effort. The important features of unbreakable shoes are that they render durability and protection of feet integrated with comfort and style of sneakers. Also, their utilization can be switched between work and play mode.
Market Size and Forecast
Increasing concern for physical injuries at industrial and construction sites along with the need amongst individuals and athletes to have a comfortable and stylish shoe are some of the significant factors boosting the market growth. The unbreakable shoes market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The unbreakable shoes market is segmented by design into safety work shoe and athletic shoe. Out of these, the safety work shoes segment is anticipated to hold the leading share in the market on account of high demand for safety work shoes by manufacturing and construction companies, as mandated by safety regulatory bodies to follow the safety guidelines. The athletic shoe, on the other hand, is anticipated to grow at the highest rate in the unbreakable shoes market as a result of rise in number of athletes and increasing safety concerns in their vigorous physical activities.
According to an article by the American Academy of Orthopaedic Surgeons (AAOS), stated that wearing the appropriate athletic shoe for specific sports activities can improve comfort and performance, and most importantly, prevent injuries. It also stated that sports can place tremendous pressure on the feet, ankles, and legs, and doing any physical activity generates an impact force through the legs that is three to five times a person's body weight. CLICK TO DOWNLOAD SAMPLE REPORT
Growth Drivers
Lack of Awareness Towards Safety to Drive the Market Growth
The industrial sector across the world is improving at a fast pace owing to the advancement in technologies and favorable government policies. Industries such as construction, mining and chemical etc. are more vulnerable to hazardous working environments. Also, they are bound to follow strict work safety guidelines and procedures, which comprises of putting on robust shoes and helmets. As per the National Safety Council (NSC), every 7 seconds, a worker is injured on the job. A minute negligence in obeying the safety guidelines results in accidents like oil slips, tripping off and sometimes even fatalities. On the back of these factors, the market is predicted to grow over the forecast period.
Rising Safety Concerns for Athletes to Boost the Market Growth
Increasing concern by sports athletes and gymnasts towards the prevention of their sports related injuries are fueling the demand for unbreakable shoes. Additionally, improving overall efficiency of the athletic trainees in increasing their agility by putting on lightweight and comfortable shoes is a major factor which further fuels the unbreakable shoes industry. Such a factor is anticipated to significantly expand the unbreakable shoes market.
Restraints
High Costs and Increase in Automation to Hamper the Market Growth
The potential factor that can affect the market of unbreakable shoes market is their price. A typical unbreakable shoe starts from 75 USD to 174 USD and higher. Additionally, increase in automation technology is leading to a corresponding decline in number of factory labors and site engineers in manufacturing and construction sites respectively, which is a major challenge to the growth of unbreakable shoes market.
Market Segmentation
Our in-depth analysis of the global unbreakable shoes market includes the following segments:
By Design
By Demographics
By Application
By End User
By Region
On the basis of regional analysis, the unbreakable shoes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for unbreakable shoes in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market unbreakable shoes. Moreover, the growing requirements for continuously improving the innovation and production of shoes are met in this region which further increases the product demand. The market in Latin America region is predicted to grow at the highest rate during the forecast period as a result of growing number of athletes and increase in their concerns regarding sports related injuries.
The global unbreakable shoes market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Market
The global unbreakable shoes market is dominated by market players such as Indestructible Shoes LLC and Diadora S.p.A. Moreover, several players in the footwear industry are increasingly expanding their product diversification by utilizing advanced technologies that help to design the shoes which are lightweight, comfortable, robust, stylish and can survive any poor working condition. Additionally, several players are also increasingly investing on research and developmental activities that help to advance the technologies in shoes.
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