The global Industrial Protective Footwear Market is expected to surpass US$ 9.79 Billion by 2030, exhibiting a CAGR of 7.1 % during the forecast period (2023-2030). Growing end-use industries, such as construction and automotive, among others are expected to boost the growth of industrial Protective Footwear.
Industrial protective footwear provides protection against injuries caused due to harsh industrial conditions. Industrial protective footwear is manufactured by using different materials such as leather, rubber, and plastic. The construction, mining, manufacturing, chemicals, oil and gas, pharmaceuticals, food, and transportation industries are some of the major end users of industrial protective footwear.
The global industrial protective footwear market accounted for around US$ 5.29 Billion in 2022 and it is predicted to grow at a CAGR of 8.0% during the forecast period (2023-2030).
Driver
Increasing concerns over employee safety at the workplace to drive Industrial protective footwear market expansion.
Growing concerns over employee safety at the workplace coupled with the strict occupational safety regulations are expected to fuel the market growth of industrial protective footwear. Growing workplace incidents have tremendously raised the demand for Personal Protective Equipment (PPE) in the recent few years. These are widely used across manufacturing industries to safeguard workers. Thus, growing concerns over workplace safety are expected to foster the market growth of industrial protective footwear.
Market Opportunities
High demand for industrial protective footwear from the mining industry in order to protect employees from leg injuries due to falling objects, chemical spill, and electric shocks is expected to bring new market growth opportunities. Industrial protective footwear also protects workers from slips, falls, and punctures. Steel-toed boots are mainly used in the mining industry. Thus high demand for protective footwear from the mining industry is expected to fuel the market growth of industrial protective footwear.
Restraint
Rapidly increasing automation in manufacturing industries.
Increasing automation across various manufacturing industries such as pharmaceutical industry, power industry, and the automotive industry is replacing the number of employees, thus hindering the demand for protective footwear. Thus, the growing popularity of automation across every sector is expected to restrict the market growth.
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Market Trends
Increasing focus of oil and gas companies to overcome high fatality rate due to hazardous working conditions is creating a huge demand for industrial protective footwear. Growing investments in the oil and gas industry, changing regulations, and the increasing adoption of new protective footwear technologies are expected to accelerate the market growth of industrial protective footwear. Thus, increasing focus of oil and gas companies on enhancing worker's safety is expected to propel the market growth over the forecast period.
Distribution partnerships among major players to increase their consumer base is a major trend in the market. For instance, in September 2022, The ISM Green Heart launched a capsule collection of sustainable safety footwear made from recycled materials under the ALBATROS and PUMA Safety brands for autumn 2022.
Industrial Protective Footwear Market - Impact of Coronavirus (COVID-19) Pandemic:
The manufacturing sector is expected to be the most affected by the coronavirus crisis. The crisis is expected to disrupt both demand as well as supply chains and the capability of companies to deliver goods to market. The virus has struck the core global value chain of various regions including China, Europe, and the U.S.
Competitive Section:
Company Names
- 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.
- VF Corporation
