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Industrial Protective Footwear Market : Global Demand Analysis & Opportunity Outlook 2029

Industrial Protective Footwear Market Segmentation by Material (Leather, Rubber, Waterproof, and Plastic); by Application (Manufacturing, Construction, Oil & Gas, Mining, Transportation, Chemical, Pharmaceutical, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Report ID: 61 | Published On: Feb 14, 2023
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Market Segmentation

Our in-depth analysis of the industrial protective footwear market includes the following segments:

By Material

  • Leather
  • Rubber
  • Waterproof
  • Plastic

By Application

  • Manufacturing
  • Construction
  • Oil & Gas
  • Mining
  • Transportation
  • Chemical
  • Pharmaceutical
  • Others


Industrial Protective Footwear Graph
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Global Industrial Protective Footwear Market Regional Synopsis

Regionally, the industrial protective footwear market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Europe is estimated to witness noteworthy growth over the forecast period on the back of introduction of standards and compliance by government to curb the risks associated with occupational dangers. The growing presence of protective footwear manufacturers is also anticipated to drive growth to the market in this region. Furthermore, the market in Asia Pacific is projected to occupy the largest share in the market during the forecast period owing to the rising demand for industrial safety shoes and the rapid expansion of construction sector, especially in developing nations. For instance, China is the largest market for construction in the world, amounting to more than $ 1 billion in 2020. Growing consciousness of employers to improve working conditions is another factor evaluated to fuel the progress of the market in this region. 

Industrial Protective Footwear Market Image

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The industrial protective footwear market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Growth Drivers

  • Increasing Demand for High-Quality Safety Shoes to Boost Market Growth
  • Strict Government Rules and Protocols Regarding Safety of Workers in Manufacturing Sector to Expand Market

Challenges

  • Availability of Low Quality Products to Hinder Market Growth


Industrial Protective Footwear Market Image
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Top Featured Companies Dominating the Market

    • Honeywell International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Dunlopboots
    • VF Corporation
    • Rock Fall (UK) Ltd
    • UVEX WINTER HOLDING GmbH & Co. KG
    • Wolverine World Wide, Inc.
    • Elten GmbH
    • Anbu Safety Industrial Co.,Ltd.
    • COFRA Holding AG
    • Oftenrich Holdings Co., Ltd.

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the industrial protective footwear market?

Ans: Growing demand for industrial protective footwear and rising governmental concerns to ensure worker safety are the major growth drivers for the market.

2) What would be the CAGR of industrial protective footwear market over the forecast period?

Ans: The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021 – 2029.

3) What are the challenges affecting the industrial protective footwear market growth?

Ans: Availability of poor quality products is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of industrial protective footwear market in future?

Ans: Europe region is expected to provide more business growth opportunities on the back of introduction of safety standards mandating the use of safety footwear.

5) Who are the major players dominating the industrial protective footwear market?

Ans: The major players in the market are Honeywell International Inc., Dunlopboots, VF Corporation, Rock Fall (UK) Ltd, UVEX WINTER HOLDING GmbH & Co. KG, Wolverine World Wide, Inc., Elten GmbH, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the industrial protective footwear market?

Ans: The market is segmented by material, application, and by region.

8) Which segment captures the largest market size in the application segment in the industrial protective footwear market?

Ans: The construction segment is anticipated to hold the largest market size and is estimated grow at a moderate CAGR over the forecast period and display significant growth opportunities.

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