The industrial protective footwear market size is anticipated to expand to a notable valuation of USD 10.88 Billion in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 7% from 2023 to 2033 and reach USD 21.4 Billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 10.88 Billion |
| Anticipated Forecast Value (2033) | USD 21.4 Billion |
| Projected Growth Rate (2023 to 2033) | 7% CAGR |
Due to greater workplace knowledge about safety procedures and preventing injuries in industrial sites, the worldwide protective footwear business is projected to expand considerably in the coming years. The primary characteristics of industrial safety footwear are security, advancement, convenience, and aesthetic appeal.
Over the decades, shoe manufacturers have concentrated on including these features in their items in order to supply employees with a secure and comfortable workplace. One of the primary drivers of market expansion over the past few years has been the increasing recognition of ergonomic layout protective footwear from multiple industries.
Furthermore, industrial protective footwear lessens strain and provides adequate foot support. This influences market growth by driving the industrial strategy to design and produce safety footwear.
As per the Bureau of Labor Statistics, approximately 60,000-foot injuries occur in the United States each year, resulting in lost production time and an average distribution of almost USD 9,600 each day. Rapid progress in several industries has increased the workforce globally. Factory workers, on the other hand, face job insecurity, extended hours of work, and poor working conditions.
This has a significant impact on the industry's growth. Stringent regulatory norms constituted by authorities like OSHA, BSI, and ILO regarding work atmosphere safety have enhanced the popularity of industrial protective footwear. OSHA has a plethora of laws and regulations that govern safety in the workplace, such as section 29 CFR 1910.136 on occupational foot safeguard.
Europe's industrial footwear market will maintain its governance since there are a number of well-established producers throughout the region. Numerous factors are propelling the region's sectors, including favorable raw material costs, increased awareness of security issues, fuel costs, and burgeoning breakthroughs from safety footwear producers.
In 2022, the leather protective footwear segment dominated the market, accounting for 38% of the worldwide profit share. The attractive presentation of leather boots, the adaptability of leather substance, and the reliability that leather shoes provide are expected to drive up demand for leather protective footwear products.
The Asian Region will produce frequent expansion over the forecast time frame, owing primarily to the increased adaptation of security management programs to reduce workplace fatalities. The notable advancement of building projects in emerging nations like China and India is assisting the development of regional markets.
North America is expected to experience a significant rising need for industrial protective footwear as a result of the expanding oil and gas industry in Central and South America, as well as elevated expenditures on farming, defense, and medical services.
Automakers should capitalize on incremental prospects in slip-resistant and puncture-resistant insole in industrial footwear to diversify their income streams, as the popularity of compact, protective footwear in multiple industries keeps rising.
To prevent slippage or losing grip in industrial sites, industrial footwear has incorporated smart actuators and sensing devices that decode the data sent by detectors, catapulting sales growth.
Enhancing the product portfolios by presenting industrial protective footwear of higher quality for a broad range of uses, as well as through purchases and mergers, is yet another expansion strategy.
Dunlop Protective Footwear partnered with LineDrive, an industrial product leadership sales entity, to ramp up reach and materials in the stream in a very organized format, and additionally to develop jointly in a sustainable manner.
Delta Plus, a European PPE vendor, procured Netco Safety in France and the Boots Company Group in Italy to set up a specialized partition in the work boot segment.
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Safety, innovation, comfort, and aesthetic value are the chief attributes of industrial safety footwear. Over the years, worldwide shoe producers have been focusing on incorporating these attributes in their products to provide a safe workplace and comfort to workers.
According to the Bureau of Labor Statistics, every year around 60,000-foot injuries in the USA ensued in lost manufacturing time which triggered the average disbursement of about USD 9,600 per day. Rapid advancement in several businesses has amplified the workforce worldwide. However, factory workers encounter employment instability, expanded work hours, and poor working conditions.
This majorly affects the market growth. Strict regulatory standards framed by authorities such as OSHA, BSI, and ILO concerning work environment security have brought about increased demand for industrial protective footwear.
Prominent protective footwear manufacturers are recognizing industries requirements for comfort, and safety, and including stylish details such as buckles. Leather is widely preferred and occupied over 75% of the global market as it is popular for fashion footwear as well as a non-conductive material which is considerably utilized in protective footwear to provide safety against harmful electric shocks.
Manufacturers are introducing new light wear protective footwear as compared to the heavy boots. The standards are continuously evolving in the protective footwear landscape, as this footwear is much more advanced as compared to those available in the past, providing even more protection.
For example, a green triangle indicates sole puncture protection with a grade 1 protective toecap projected for heavy industrial work surroundings. Oil & gas companies operating in the arctic region encounter a high fatality rate owing to tough evacuation, rescue conditions, and emergency response.
The Arctic Council and the EU presented guidelines and laws concerning safety functionings in the Arctic. This has regulated protective footwear sales across the oil & gas sector.
Principal Consultant
Industrial protective footwears are premium-priced products that are relatively expensive than normal footwear. This will hinder the market growth of industrial protective footwear. However, lack of awareness concerning workers' precautions in SME industries especially in emerging economies also hinders market growth.
The presence of local manufacturers engaged in manufacturing cheap by employing spurious and low-quality materials has ensued in sales of these inexpensive, low-quality protective footwear which is impeding the market growth. Due to this, prominent market players are facing stiff competition in the global industrial safety footwear market.
Europe's industrial footwear market will secure its leadership owing to the presence of well-established manufacturers in the region. The industries in the region are propelled by several factors such as conducive prices of raw materials, awareness about safety matters, transportation costs, and growing innovations from safety footwear manufacturers.
Asian Region will witness rapid growth over the forecast period mainly due to increasing adaptation of health and safety practices to decrease workplace fatalities. The noteworthy expansion of the construction industry in emerging economies such as China and India is supporting the market growth in the region.
North America, is anticipated to witness an increase in demand for industrial protective footwear due to the growing oil & gas industry in Central and South America in addition to increasing investments in agriculture, defense, and healthcare industries.
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The major companies, for instance
improve the product portfolios by introducing industrial protective footwear with upgraded quality for several applications in addition to forming mergers and acquisitions. Dunlop Protective Footwear entered into a partnership with LineDrive, a prominent industrial sales agency to accelerate reach and resources in the channel in a very structured way as well as growth together in a sustainable way.
European PPE supplier Delta Plus acquired Netco Safety in France and the Boots Company Group in Italy, to establish a new specialist division in the work boot segment. Hultafor took over 80% stake in Emma Safety Footwear and is anticipated to acquire 100% ownership by 2023. The acquisition will help the companies to fortify their market position in Europe and North America.
The global industrial protective footwear market is fragmented based on the following:
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Type 6.2. Application 7. Global Market Analysis and Forecast, By Type 7.1. Leather footwear 7.2. Waterproof footwear 7.3. Rubber footwear 7.4. Plastic footwear 8. Global Market Analysis and Forecast, By Application 8.1. Construction 8.2. Manufacturing 8.3. Mining 8.4. Oil and Gas 8.5. Chemicals 8.6. Food 8.7. Pharmaceuticals 8.8. Transportation 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Europe Sales Analysis and Forecast, by Key Segments and Countries 13. South Asia Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. Oceania Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Bata Corporation 19.2. Honeywell International Inc. 19.3. Wolverine World Wide Inc. 19.4. Rahman Group 19.5. Dunlop Protective Footwear 19.6. VF Corporation 19.7. Saina Corporation Co. Ltd. 19.8. UVEX Safety Group 19.9. Jal Group 19.10. Hewat's Edinburgh 19.11. ELTEN GmbH 19.12. COFRA Holding AG 19.13. Rock Fall Ltd. 19.14. Oftenrich Holdings Co. Ltd.
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Industrial Protective Footwear Market
