Press release
Turkey and Russia Industrial Protective Footwear Markets to Reach US$518.2 mn and US$556.1 mn by 2020 owing to Strict Government Regulations
The primary driver for the industrial protective footwear market in Turkey and Russia is the growing awareness about the importance of workplace safety. “While developed regions such as the U.S. and Western Europe already have an established legal framework for workplace safety, developing regions have started the process relatively recently,” said TMR’s lead analyst. The rapid economic development of Russia and Turkey in the last few years has thus led to a growing demand for a standardized workplace safety framework, leading to a steady increase in the demand for industrial protective footwear.
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The rapid growth of the urban middle-class demographic has driven the food industry in recent years, with the Turkish food industry likely to be a major consumer of industrial protective footwear in the coming years. The lack of protective clothing in food processing and packaging plants can cause injuries to employees as well as contamination of the food being produced.
Government duties and other regulatory restrictions are the primary restraint on the industrial protective footwear market in Russia and Turkey. While this bodes well for regional manufacturers of industrial protective footwear, multinational giants will find it harder to enter these competitive markets. However, the rising number of workplace accidents is likely to ensure government support to the adoption of advanced industrial protective footwear in the coming years.
Russian Manufacturing Sector Likely to Exhibit Rapid Growth in Demand for Industrial Protective Footwear
Among the key applications of industrial protective footwear, agriculture, government use, and unorganized and small-scale manufacturing were collectively the leading contributors to the overall revenue of the Russia industrial protective footwear market in 2013. Nevertheless, the manufacturing sector in Russia is likely to exhibit a solid growth rate in the coming years. By volume, the oil and gas sector held the leading share in 2013, with around 860,000 pairs of industrial protective footwear in use in the industry.
In Turkey, the manufacturing sector is the dominant consumer of industrial protective footwear. However, the food industry’s steady growth is likely to be the highlight of the Turkey industrial protective footwear market in the coming years.
The Turkey industrial protective footwear market is likely to be valued at US$518.2 mn by 2020. On the other hand, the Russia industrial protective footwear market is expected to be worth US$556.1 mn by 2020. The information in this preview comes from a Transparency Market Research report titled ‘Industrial Protective Footwear Market - Turkey and Russia Industry Analysis, Trend, Size, Share and Forecast, 2014 - 2020.’
The Turkey and Russia industrial protective footwear market is segmented as follows:
Turkey and Russia Protective Footwear Market, by application:
Construction
Manufacturing
Oil and gas
Chemicals
Food
Pharmaceuticals
Transportation
Others
Turkey and Russia Industrial Protective Footwear Market, by Country:
Russia
Turkey
Browse Full Report@ http://www.transparencymarketresearch.com/turkey-russia-industrial-protective-footwear-market.html
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Transparency Market Research is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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