Global Safety Footwear Market is expected to rise from its initial estimated value of USD 3.97 billion in 2018 to a projected value of USD 6.39 billion by 2026, registering a CAGR of 6.12% in the forecast period of 2019-2026. This rise in market value can be attributed to growing demand from various end-users due to the imposing of strict regulations by the authorities of various regions regarding the safety and protection of workers.
Global Safety Footwear Market By Product (Shoes, Boots), Material (Plastics, Rubber, Leather, Others), Application (Construction, Oil & Gas, Food, Pharmaceuticals, Mining, Transportation, Manufacturing, Chemicals, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026 Global Safety Footwear Market is expected to rise from its initial estimated value of USD 3.97 billion in 2018 to a projected value of USD 6.39 billion by 2026, registering a CAGR of 6.12% in the forecast period of 2019-2026. This rise in market value can be attributed to growing demand from various end-users due to the imposing of strict regulations by the authorities of various regions regarding the safety and protection of workers.
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Few of the major competitors currently working in the safety footwear market are DUNLOP PROTECTIVE FOOTWEAR; Honeywell International Inc.; Wolverine; uvex group; Elten GmbH; RAHMAN GROUP; Oftenrich Holdings Co., Ltd.; Night Tech Gear; Zephyr Workgear; Merrell; VF Corporation; JALLATTE; Anbu Safety Industrial Co.,Ltd.; Hewats Edinburgh and Liberty Shoes Ltd.
Safety footwear can be defined as layering and protection footwear that are produced for specific purposes and protection against specific circumstances and elements. These categories of footwear have being reinforced and enhanced for rough and tough use. These footwear have been produced with specific materials that protect the wearer in a number of applications such as during mining, construction, and various other activities from a number of industries.
- Increasing industrialization activities in the developing regions is expected to increase the demand for protection and safety products; this factor is expected to act as a driver for the market growth
- Growing employments in industrial and utilities activities requiring protection and safety clothing and accessories; this factor is expected to act as a driver for the market growth
- Presence of fake and cheaper products that compromise on quality and assurance from various local players in the market is expected to act as a restraint to the market growth
Segmentation: Global Safety Footwear Market
- Oil & Gas
- North America
- South America
- South Korea
- Middle East & Africa
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Key Developments in the Market:
- In June 2018, Night Tech Gear announced the launch of “Night Shift Shoe Lights”. They are an additional accessory for the night tech gear products, as they remove the need for handheld light sources. These lights help light up the areas of up to ninety meters, significantly reducing the risk of hazards and helping the workers in extreme environments.
- In March 2017, Merrell announced the launch of their work/safety footwear products. The products based on Merrell’s expertise in outdoor and comfort footwear.
Competitive Analysis: Global Safety Footwear Market
Global safety footwear market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of safety footwear market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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