PUBLISHER: The Business Research Company | PRODUCT CODE: 1425574
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425574
Industrial Protective Footwear Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial protective footwear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial protective footwear? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial protective footwear market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Industrial protective footwear serves as a crucial safety gear for individuals working in industrial settings, safeguarding their feet from potential accidents and injuries. This specialized footwear, including leather, waterproof, rubber, and plastic variants, is tailored to shield against sharp objects like glass and nails commonly found in factory environments.
Leather footwear, crafted from a durable and versatile material, offers breathability, heat insulation, flexibility, tear resistance, and protection against abrasions. Its moisture barrier properties and resistance to various industrial hazards such as oils, concrete, fuels, among others, make it a preferred choice. These footwear options are available both offline and online, catering to a wide range of industries like construction, manufacturing, mining, oil and gas, chemicals, pharmaceuticals, transportation, and more.
The industrial protective footwear market research report is one of a series of new reports from The Business Research Company that provides industrial protective footwear market statistics, including industrial protective footwear industry global market size, regional shares, competitors with an industrial protective footwear market share, detailed industrial protective footwear market segments, market trends and opportunities, and any further data you may need to thrive in the industrial protective footwear industry. This industrial protective footwear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial protective footwear market size has grown strongly in recent years. It will grow from $7.13 billion in 2023 to $7.71 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical era can be credited to factors such as adherence to occupational safety regulations, the advent of industrialization, increased awareness regarding worker safety, the effects of globalization, and initiatives aimed at reducing healthcare expenses.
The industrial protective footwear market size is expected to see strong growth in the next few years. It will grow to $10.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The projected expansion during the forecast period is driven by advancements in materials, a heightened emphasis on sustainability, tailored solutions for specific industries, personalized offerings, global market outreach, and a focus on health and wellness. Key trends anticipated during this period encompass the integration of smart technology, increased emphasis on sustainability practices, fostering collaborations and partnerships, and adherence to safety regulations and compliance standards.
The swift advancement in industrial sectors is anticipated to drive the market for industrial protective footwear in the coming period. This development pertains to manufacturing processes and has prompted an increased focus on safety measures, aiming to decrease workplace accidents. The surge in industrial activities has led to a growing demand for protective footwear. Notably, the Index of Industrial Production (IIP) in India showcased an upward trend from an average of 121.3 in Q1 to 130.2 in Q2 for the financial year 2021-22, indicating the impact of rapid industrial development on the market for protective footwear.
The expanding construction domain is projected to significantly contribute to the growth of the industrial protective footwear market. This sector, encompassing commercial activities related to infrastructure development and maintenance, necessitates adherence to safety regulations due to various hazards associated with construction work. Recent statistics from the UK's Office for National Statistics revealed a record 12.7% annual rise in the construction sector in 2021 compared to the previous year. The escalating construction output, notably driven by new projects and maintenance work, signifies a substantial market for protective footwear within this industry.
A prominent trend in the industrial protective footwear market is the emergence of product innovations. Leading companies in this sector are dedicated to introducing technological advancements to fortify their market position. An illustration of this trend is seen in Gales, a US-based protective footwear manufacturer, which introduced Smart PPE Footwear in June 2021. These innovative shoes incorporate antimicrobial, waterproof, and slip-resistant features, emphasizing affordability, safety, cleanliness, and comfort.
Major players in the industrial protective footwear market are concentrating on pioneering products like safety boots to cater to larger consumer bases, boost sales, and augment revenue. Safety boots are specifically designed to safeguard feet and ankles in hazardous work environments. For instance, Berkat Safety, an Indonesia-based provider, launched KAMU safety boots in December 2022. These boots stand out due to their composition utilizing advanced materials from BASF, including Elastollan TPU, Elastopan PU, and Infinergy E-TPU. This unique combination offers enduring comfort, lightweight cushioning, exceptional slip resistance, and noteworthy energy return, tailored for challenging work environments such as mining, construction, and extreme climates in Australia, New Zealand, and Papua New Guinea. The incorporation of Infinergy in the midsole diminishes fatigue and stress on joints and muscles, enhancing wearer comfort, safety, and performance.
In May 2023, Protective Industrial Products (PIP), a manufacturer headquartered in the United States specializing in Personal Protective Equipment (PPE), successfully completed the acquisition of ISM Heinrich Krämer GmbH & Co. KG. The transaction, whose financial details remain undisclosed, is geared towards empowering PIP to provide cutting-edge safety solutions to its widespread global clientele. By integrating ISM into its portfolio, PIP anticipates a strategic expansion, leveraging the acquisition to explore new avenues of growth. Specifically, the addition of ISM significantly amplifies PIP's presence in the footwear segment worldwide, facilitating an extended reach to key customer markets in Europe and Asia. ISM Heinrich Krämer GmbH & Co. KG is a Germany-based maker of safety shoes, workwear, and functional apparel.
Major companies operating in the industrial protective footwear market report are Bata Corporation, Honeywell International Inc., Wolverine World Wide Inc., Rahman Group, Dunlop Protective Footwear, VF Corporation, UVEX Safety Group, Jal Group, ELTEN GmbH, Rock Fall Ltd., Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Hewat's Edinburgh, Jallatte, HH Work Wear, Goodyear Tire & Rubber Company, Singer Safety Company, Canada Goose Inc., Hilson Footwear Pvt. Ltd., Williamson-Dickie Manufacturing Co., Saf-Gard Safety Shoe Company, Shoes For Crews LLC, Red Wing Shoe Company, Ellwood Safety Appliance Co., Diadora SpA, Giasco Srl, WL Gore & Associates Inc., Ansell Limited, Jolly Scarpe Spa.
Asia-Pacific was the largest region in the industrial protective footwear market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial protective footwear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial protective footwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial protective footwear market consists of sales of steel-toed safety shoes, chemical-resistant shoes, metatarsal guards, and cut-resistant boots. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.