Published on : Mar 30, 2016
The increasing incidence of workplace injury and the implementation of stringent regulations mandating high standard of workers’ safety in industries have given significant impetus to the global market for industrial protective footwear. The market encompasses safety footwear and boots that are designed particularly to protect workers in industries against fatal accidents. The demand for protective footwear and safety boots is therefore high in industries such as pharmaceuticals, oil and gas, mining, construction, manufacturing, chemical, and food.
According to a report published by Transparency Market Research, the global market for industrial protective footwear, which stood at US$6.3 bn in 2013, is expected to reach US$9.4 bn by the end of 2020. If the figures hold true, the market will exhibit a CAGR of 6.0% between 2014 and 2020.
The global market for industrial protective footwear can be broadly classified on the basis of types, applications, and regions. Based on type, the market can be segmented into waterproof, leather, rubber, and plastic footwear. On the basis of application, the market can be categorized into manufacturing, construction, mining, chemicals, oil and gas, pharmaceuticals, transportation, and food.
Europe Dominates Global Industrial Protective Equipment Market
Regionally, Asia Pacific, Europe, and North America make the most lucrative markets for industrial protective footwear. Among these regions, Europe held the largest share of the global market in 2013, followed by North America. The growth in the Europe market for industrial protective footwear is mainly due to the presence of the most prominent companies producing safety foods in countries such as Italy, France, Germany, Spain, and the U.K.
Safety boots worn by industrial workers have a safety symbol printed on them. These safety symbols are issues by government regulatory bodies. For instance, in the U.S., the safety symbol for industrial footwear is issued by American National Standard for Personal Protection-Protective Footwear (ANSI). For example, leading industrial footwear companies such as Giasco, Jal Group, Siili Safety, Safetal, and Sofra are located in Italy. Stringent industrial safety regulations support the expansion of the market in North America and in Asia Pacific and RoW, the market for industrial protective footwear is thriving due to the rising demand from countries such as India, China, Taiwan, Brazil, Korea, and South America.