Industrial Protective Footwear Market to surpass 300 million pairs by 2024: Global Market Insights, Inc
OCEAN VIEW, Del., Aug. 1, 2017 /PRNewswire-iReach/ -- Industrial Protective Footwear Market graph is predicted to experience an exponential curve, owing to the rising concerns regarding employee safety coupled with strict rules imposed by regulatory bodies such as ILO and OSHA for promoting safe working conditions. The emerging PPE market, which is currently witnessing an impressive growth, is also estimated to push the market trends over the coming years. Construction expenditure across the globe was valued at USD 7 trillion in 2013, and is forecast to hit USD 15.5 trillion by 2024. This will sketch a profitable roadmap for industrial protective footwear market, subject to the surging product demand across the construction sector to avoid fatal accidents coupled with the extensive use of protective shoes which offer protection against falling objects such as pointed nails. As per Global Market Insights, Inc., "Industrial protective footwear industry, is expected to hit USD 7.8 billion by 2024, registering an annual growth of 5% over 2016-2024."
Considering the regional trends, Brazil industrial protective footwear industry size will register a CAGR of 5% over 2016-2024 and is expected to make noteworthy contributions towards LATAM industrial protective footwear market share. Rise in the number of shale gas explorations along with the thriving food processing sector in Brazil will pave a way for the industry growth across the region.
Europe industrial protective footwear industry is projected to observe a striking growth over the years to come, driven by strict regulations pertaining to worker safety coupled with the thriving chemical & construction sectors across the region. Germany industrial protective footwear market in the transportation sector is projected to accrue a revenue of USD 30 million by 2024.
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China industrial protective footwear industry is expected to record a CAGR of 5.5% over the next few years, driven by high expenditure on infrastructural growth along with the escalating product demand from the prospering construction sector. India and China are expected to push APAC market expansion in future. MEA industrial protective footwear market, driven by Qatar, South Africa, UAE, and Saudi Arabia, is anticipated to grow notably over the span of few years. The growth can be attributed to the rising usage of anti-impact oilfield shoes, oil resistant safety shoes, and pipeline construction shoes in the petrochemical sector.
Industrial protective footwear finds applications across the pharmaceutical, construction, mining, manufacturing, pharmaceutical, oil & gas, transport, chemicals, and transport sectors. Manufacturing applications are foreseen to record a CAGR of 5% over the coming seven years. The growth can be credited to the product's ability to offer water-resistance, protection against chemicals, and shock absorbance. Industrial protective footwear market size in oil & gas sector is projected to expand considerably over the span of few years, subject to the mounting demand for lightweight & slip-resistant industrial protective shoes in oil & gas extraction projects. Construction applications are expected to contribute considerably towards industrial protective footwear market revenue, owing to extensive use of protective shoes by workers doing construction work.
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Based on the material trends, industrial protective footwear market is segmented into polyurethane, leather, waterproof, rubber, and plastic materials. Rubber industrial protective footwear market is set to experience significant gains of over 5% during the period of 2016-2024, with rubber soles providing high resistance against alkalis, chemicals, and acids across chemical factories. Leather industrial safety industry, worth USD 4 billion in 2015, is anticipated to experience a massive expansion in the years ahead. The growth can be attributed to the material's durability and ability to offer protection against electric shocks.
COFRA S.r.l., Honeywell International Inc., Guangzhou Saicou Shoes Company Limited, Hillson Footwear Private Ltd, Liberty Group, Gabri Safety Shoes, Pezzol Industries srl, Caterpillar Inc., Hewats Edinburgh, Anbu Safety Industrial Company Limited, W.L. Gore & Associates Inc., Uvex Group, V.F. Corporation, Safetyking Industrial Footwear (M) Sdn Bhd, Rahman Group, Dunlop Boots, Esteway Safety Shoes, and Simon Corporation are the key players of industrial protective footwear market.
Browse key industry insights spread across 320 pages with 419 market data tables & 22 figures & charts from the report, "Industrial Protective Footwear Market Forecast, 2016 - 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-safety-footwear-market
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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