Press release
South America Industrial Protective Footwear Market Size to Witness Sustained Growth throughout the Forecast Period 2014 - 2020
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Transparency Market Research has published a new report on the South America industrial protective footwear market. As per the report, the South America industrial protective footwear market stood at US$856.7 mn in 2013 and is expected to reach US$1.3 bn by 2020. The report, titled ‘Industrial Protective Footwear Market - South America Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020,’ states that the South America industrial protective footwear market is expected to expand at a 6.50% CAGR from 2014 to 2020 owing to the growing incidence of workplace accidents.
The South America industrial protective footwear market is segmented on the basis of country and application. Based on country, the South America industrial protective footwear market is divided into Peru, Brazil, Chile, Colombia, Venezuela, and Uruguay.
By application, the South America industrial protective footwear market is classified into food, chemicals, oil and gas, transportation, construction, manufacturing, pharmaceuticals, and others. The increasing applications of industrial protective footwear and the advancements in technology used to manufacture workplace protective equipment are predicted to propel the South America industrial protective footwear market. Agriculture is one of the prime segments contributing considerably to the industrial protective footwear market in Brazil. However, the pharmaceuticals segment is expected to increase its contribution in Brazil in the years to come. The manufacturing segment stood at US$21.4 mn in 2013 and is expected to be the largest segment in Colombia in the next few years.
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The application of industrial protective footwear in the others segment accounted for the largest share in Venezuela. In the next few years, the growth of the others application segment is expected to be propelled by the increasing awareness and the rising usage of protective gear. However, the oil and gas application segment is expected to progress swiftly in Venezuela. The construction application segment stood at US$3.6 mn in 2013 and is predicted to register healthy growth throughout the forecast period. The others application segment was valued at 0.044 mn pairs in 2013. In terms of volume in million pairs, the others application segment dominated the industrial protective footwear market in Uruguay.
The pharmaceuticals application segment is predicted to grow swiftly, at a 7.30% CAGR during the period between 2014 and 2020. Some of the major participants in the South America industrial protective footwear market are Jal Group (Italy), Elten GmbH (Germany), VF Corporation (U.S.), Cofra Holdings AG (Switzerland), Honeywell Safety Products (U.S.), and Rock Fall Ltd. (England). Factors such as stringent government regulations and new rules and duties are predicted to act as obstacles for new entrants.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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