Industrial protective footwear market

Industrial Protective Footwear Market, By Type (Leather footwear, Waterproof footwear, Rubber footwear, Plastic footwear), By Application (Construction, Manufacturing, Mining, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

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Jul 2023
CMI3966
90 Pages
Excel & Pdf
Consumer Goods

Summary

The global industrial protective footwear film market is projected to reach around US$ 9.79 Billion by the end of 2030, in terms of revenue, growing at CAGR of 8.0% during the forecast period (2023-2030).

Global Industrial Protective Footwear Market: Growth Drivers

Rapidly expanding end-use industries

A growing number of various manufacturing industries and rising awareness regarding the benefits of protective footwear is projected to fuel the market growth. Favorable conditions such as low capital, low labor cost, and easy availability of the raw materials are also expected to foster the market growth of industrial protective footwear. All these factors are projected to propel the market growth of industrial protective footwear.

Global Industrial Protective Footwear Market: Restraints

Availability of low-quality products and many small players

Availability of low-quality product in the market due to the increasing number of local manufacturers is expected to hinder the market growth of industrial protective footwear. Due to the availability of low-quality product premium brands are facing stiff competitions and thus cannot compete with these local players. This is expected to hamper the market growth.

Figure 1. Global Industrial Protective Footwear Market Share (%) in terms of Value, By Region, in 2022

Market Opportunity-

The advent of advanced protective footwear due to technological advancements is expected to bring new market growth opportunities to the market of industrial protective footwear. For instance, in September 2019, From 15th to 17th November 2022 the International Exhibition for Protection and SAFETY - EXPOPROTECTION will took place in Paris, France. The international trade fair unites exhibitors from the fields of workplace safety, firefighting and prevention.

Increasing fatal accidents in the construction industry are driving the demand for personal care protection equipment and this is expected to boost opportunities for the market. This is also attributed to growth in the construction industry due to the increasing construction of new buildings and remodeling of infrastructure across developing regions. Thus, the growing demand for personal care protective equipment in the construction industry is expected to foster the market growth of industrial protective footwear.

Industrial Protective Footwear Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 5.29 Bn
Historical Data for:	2018 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	8.0%	2030 Value Projection:	US$ 9.79 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC and Rest of Middle East Africa: North Africa, Central Africa, South Africa, and Rest of Africa
Segments covered:	By Type: Leather footwear, Waterproof footwear, Rubber footwear, Plastic footwear By Application: Construction, Manufacturing, Mining, Oil & Gas, Chemicals, Food, Pharmaceuticals, Transportation
Companies covered:	JAL Group, COFRA Holding AG, ELTEN GmbH, Oftenrich Holdings Company Limited (Golden Chang), Honeywell Safety Products, Rahman Group, Rock Fall Ltd., Saina Group Co. Ltd., and VF Corporation
Growth Drivers:	A growing number of various manufacturing industries and rising awareness regarding the benefits of protective footwear The manufacturers are adopting various foot safety protection programs related to training, fit testing, maintenance, and inspection, in order to protect employees
Restraints & Challenges:	Lack of awareness regarding the industrial protective footwear among employees in small and mid-sized industries

Market Trends-

Introduction of the online retail has enabled options for consumers to purchase products at their convenience. This is expected to be a major trend in the market. VF Corporation and Honeywell are two key players that offer products online. The growing trend of online shopping coupled with the growing awareness regarding safety shoes is projected to foster the market growth of industrial protective footwear over the forecast period.

Global Industrial Protective Footwear Market: Key Developments

In April 2022, HYTEST Safety Footwear introduced Apex 2 Pike Waterproof Nano Toe Collection. These boots are puncture resistant and available in a 6”, 8” and a shoe.

In September 2022, Simac, the international machinery and technology exhibition for shoes, will once again be opening its doors. Also, This year BASF (hall 14 booth, F33/F37/G34/G38) will exhibit its wide range of new solutions for the shoe industry: a concept shoe made entirely out of BASF materials, boots which stay soft even at minus 40 degrees, light and high rebound soles for safety shoes and sustainable footwear solutions. On top BASF will present 3D printed shoes as well as coatings solutions to protect the soles.

In February 2022, ISM, the international building trade fair BOUWBEURS took place in Utrecht from February 6th to 10th, 2023. More than 675 exhibitors presented their products, services, or current trends in the field of construction and brought together exhibitors and interested parties from the areas of interior design, wood, building materials, commercial vehicles, safety, workwear, and others.

Figure 2. Global Industrial Protective Footwear Market Share (%) in terms of Value, By Application, in 2022

Global Industrial Protective Footwear Market: Market Segmentation

Europe dominated the Global Industrial Protective Footwear Market in 2022, accounting for a 35% share in terms of value, followed by North America and Asia Pacific, respectively.

Global Industrial Protective Footwear Market: By Application

On the basis of application in 2022, the construction segment accounted for the largest market share of 36% in terms of value.

Global Industrial Protective Footwear Market: Key Companies

The key companies operating in the market are JAL Group, COFRA Holding AG, ELTEN GmbH, Oftenrich Holdings Company Limited (Golden Chang), Honeywell Safety Products, Rahman Group, Rock Fall Ltd., Saina Group Co. Ltd., and VF Corporation.

*Definition: Protective footwear is a secondary measure that is intended to prevent injury or reduce the injury severity in the event of an accident. Safety-toe footwear are shoes which have a steel toe cap underneath the leather toe cap and protect the wearer's toe from moving or falling objects.

Table of Content

Table of Contents

Segmentation

Detailed Segmentation:

Global Industrial Protective Footwear Market, By Type:
- Leather footwear
- Waterproof footwear
- Rubber footwear
- Plastic footwear
Global Industrial Protective Footwear Market, By Application:
- Construction
- Manufacturing
- Mining
- Oil and Gas
- Chemicals
- Food
- Pharmaceuticals
- Transportation
Global Industrial Protective Footwear Market, By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa

- Frequently Asked Questions -

What will the market size of global Industrial Protective Footwear market be in 2030 and at what rate will it grow?

The market for Industrial Protective Footwear is estimated to surpass US$ 9.79 Billion by 2030, exhibiting a CAGR of 8.0% between 2023 and 2030.

What are the major growth driving factors for the Global Industrial Protective Footwear during the forecast period?

A growing number of manufacturing industries and rising awareness regarding the benefits of protective footwear are projected to fuel the market growth. Favorable conditions such as low capital, low labor cost, and easy availability of the raw materials are also expected to foster the market growth of industrial protective footwear. All these factors are projected to propel the market growth of industrial protective footwear.

What is the Compound Annual Growth Rate (CAGR) of the market during the forecast period (2023-2030)?

The Market is expected to exhibit a CAGR of 8.0% during the forecast period (2023-2030).

Who are the prominent players in the Market?

The key Companies are JAL Group, COFRA Holding AG, ELTEN GmbH, Oftenrich Holdings Company Limited (Golden Chang), Honeywell Safety Products, Rahman Group, Rock Fall Ltd., Saina Group Co. Ltd., and VF Corporation.

What are the key factors hampering the growth of the market?

Lack of awareness regarding the industrial protective footwear among employees in small and mid-sized industries is expected to hamper the market growth over the forecast period.