Global Industrial Protective Footwear Market – Industrial protective footwear is a high-priced option that is relatively costly than standard footwear. This will hinder the market growth of industrial protective footwear
Safety, innovation, comfort, and aesthetic value are the chief attributes of industrial safety footwear. Over the years, the worldwide shoe producers have been focusing on to incorporate these attributes in their products to provide safe workplace and comfort to workers.
According to the Bureau of Labor Statistics, every year around 60,000-foot injuries in the U.S. ensued in lost manufacturing time which triggered the average disbursement of about USD 9,600 per day. Rapid advancement in several businesses has amplified the workforce worldwide. However, factory workers encounter employment instability, expanded work hours, and poor working conditions.
This majorly affects the market growth. Strict regulatory standards framed by authorities such as OSHA, BSI, and ILO concerning work environment security have brought about increased demand for industrial protective footwear.
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Industrial Protective Footwear Market – Key Trends
Prominent protective footwear manufacturers are recognizing industries requirements for comfort, and safety, and including stylish details such as buckles. Leather is widely preferred and occupied over 75% of the global market as it is popular for fashion footwear as well as a non-conductive material which is considerably utilized in protective footwear to provide safety against harmful electric shocks.
Manufacturers are introducing new light wear protective footwear as compared to the heavy boots. The standards are continuously evolving in the protective footwear landscape, as this footwear is much more advanced as compared to those available in the past, providing even more protection.
For example, a green triangle indicates sole puncture protection with a grade 1 protective toecap projected for heavy industrial work surroundings. Oil & gas companies operating in the arctic region encounter a high fatality rate owing to tough evacuation, rescue conditions, and emergency response. The Arctic Council and the EU presented guidelines and laws concerning safety functionings in the Arctic. This has regulated protective footwear sales across the oil & gas sector.
Industrial Protective Footwear Market – Growth Restraints
Industrial protective footwears are premium-priced products that are relatively expensive than normal footwear. This will hinder the market growth of industrial protective footwear. However, lack of awareness concerning workers’ precautions in SME industries especially in emerging economies also hinders market growth.
The presence of local manufacturers engaged in manufacturing cheap by employing spurious and low-quality materials has ensued in sales of these inexpensive, low-quality protective footwear which is impeding the market growth. Due to this, prominent market players are facing stiff competition in the global industrial safety footwear market.
The footwear industry has experienced a marginal decline during the last five years to 2020. COVID-19 pandemic has put a lot of pressure on the industrial protective footwear industry with factories strictly following the nationwide lockdown.
The market is experiencing a supply and demand gap as production has halted amid crisis.Nonetheless, amid the crisis manufacturers are actively supporting the COVID-19 infrastructure by manufacturing masks utilizing the fabric utilized in shoe linings. Recently, Bata has donated its washable footwear to hospitals across the nation, the sales of which the company expects to expand in the long-term.
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Industrial Protective Footwear Market – Regional Analysis
Europe’s industrial footwear market will secure its leadership owing to the presence of well-established manufacturers in the region. The industries in the region are propelled by several factors such as conducive prices of raw materials, awareness about safety matters, transportation costs, and growing innovations from safety footwear manufacturers.
Asian Region will witness rapid growth over the forecast period mainly due to increasing adaptation of health and safety practices to decrease workplace fatalities. The noteworthy expansion of the construction industry in emerging economies such as China and India is supporting the market growth in the region.
North America, is anticipated to witness an increase in demand for industrial protective footwear due to the growing oil & gas industry in Central and South America in addition to increasing investments in agriculture, defense, and healthcare industries.
Industrial Protective Footwear Market – Competitive Analysis
The major companies, for instance
Industrial Protective Footwear Market – Segment Analysis
The global industrial protective footwear market is fragmented based on the following:
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