Industrial Protective Footwear Market 2020 | (Covid19) Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2022

Industrial Protective Footwear Market is expected to garner $5,981 million by 2022, registering a CAGR of 7.5% during the forecast period.

Industrial protective footwear provide protection against various hazards including moving machinery, exposure to chemicals, electrical contact and falling objects. These shoes are manufactured in compliance with safety shoe standards defined by various associations.

Europe has emerged as the largest market for industrial protective footwear. Health legislations and occupational safety mandates in countries such as the UK and Germany are the major factors that boost the growth of industrial protective footwear market in the region. Moreover, industrialists focus on improving the safety standards of workers for better working environment. LAMEA is anticipated to be the fastest market over the next 5-6 years due to increase in safety concerns and rise in industrialization.

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The penetration of industrial protective footwear is significantly less in the Asia-Pacific region as compared to developed markets, owing to lower awareness regarding safety and security of workers. However, the region is anticipated to show an increased demand in the coming years. Oil & gas segment would exhibit the highest growth rate in Asia-Pacific due to increasing in safety regulations.

The established brands have adopted business expansion, and product innovation as their prominent growth strategies to strengthen their foothold in the market. For instance, in 2016, Rock Fall Ltd. launched Melanite, which is designed for uniform services, facility management, and security & patrol services.

The industrial protective footwear market is segmented based on type, application, and geography. The type includes waterproof footwear, rubber footwear, leather footwear, and plastic footwear. By application, the market is categorized into manufacturing, construction, mining, oil & gas, chemicals, food, pharmaceuticals, and transportation

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Players have adopted product launch, agreement & partnership, business expansion, and product innovations as their key strategies to increase their market share. Among these, product launch and partnership are the prominent strategies adopted by the key players to remain competitive in the market. Key market players have implemented various strategies such as product launch, partnership & agreement, business expansion, and product innovation. Product launches accounted for 60% of the overall key strategies, whereas partnerships, business expansion, and product innovation together accounted for around 40%.

The leading players in the industrial protective footwear industry focus on providing customized solution to consumers as their key strategies to gain a significant share in the global industrial protective footwear market. The major companies profiled in the report include Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, and Rock Fall Ltd.

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