PUBLISHER: Grand View Research | PRODUCT CODE: 1512034
PUBLISHER: Grand View Research | PRODUCT CODE: 1512034
The global industrial protective footwear market size is anticipated to reach USD 16.24 billion by 2030 and is projected to grow at a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for foot protection in industries such as chemicals, construction, oil and gas, pharmaceuticals, and others is projected to drive the market growth over the forecast period.
The growing demand for industrial protective footwear made of leather is predicted to fuel owing to its qualities such as durability, water resistance, comfort, and protection from falling objects, cutting wounds, and others. The increasing number of accidents caused by slips and trips, as well as falling objects, has increased the demand for industrial protective footwear incorporating these features.
There is an increasing awareness of the importance of workplace safety among employers and employees. Organizations are more focused on creating safe working environments to prevent accidents and injuries, which can result in significant financial losses and reputational damage. This heightened awareness has led to the adoption of comprehensive safety measures, including the use of industrial protective footwear. Employees are also becoming more aware of their rights to a safe workplace and are demanding appropriate protective gear, further boosting market growth.
The growth of high-risk industries such as construction, manufacturing, mining, oil and gas, and chemicals is significantly contributing to the demand for industrial protective footwear. These industries involve operations that expose workers to various hazards, necessitating the use of protective footwear to ensure their safety. The ongoing development of infrastructure projects, industrial activities, and the rise in global manufacturing output are creating a steady demand for protective footwear designed to withstand specific industry-related risks.
Manufacturers of industrial protective footwear are adopting several strategies, such as acquisitions, mergers, joint ventures, new product launches, and geographical expansion, to enhance market penetration and cater to changing technological demands from various end-use applications, including residential, commercial, and industrial applications.
For instance, in September 2023, Cat Footwear introduced the Invader Mid Vent, showcasing a range of innovative features. The Invader Mid Vent is equipped with a ReViveTech Engineered Comfort footbed, a 100% Post Industrial Recycled Lining featuring an NXT footbed cover, a durable EVA midsole, a robust nylon shank, a composite toe for added protection, and a rugged industrial-grade rubber outsole.