Press release
Europe Industrial Protective Footwear Market Expected to Reach US$2.6 bn by 2020
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The industrial protective footwear market includes all kinds of safety footwear used for the protection of workers working in various industries including construction, chemicals, oil and gas, pharmaceuticals, and manufacturing. The increasing incidence of worker accidents across various industrial areas has led to growth of the Europe industrial protective footwear market in the recent past. Going forward, strict government regulations mandating safety measures within work premises are expected to propel the Europe industrial protective footwear market during the period between 2014 and 2020.
Increasing industrialization and the increasing number of workers across Europe are two of the primary factors expected to boost the demand for industrial protective footwear. Countries such as Germany, Italy, and France are predicted to create new growth opportunities in the Europe industrial protective footwear market in the years to come. The number of foreign manufacturers of industrial safety products and protective footwear is expected to increase in the coming few years. To sell new industrial safety products across the European region, foreign manufacturers need to abide by the rules of the European government. The duties and regulations imposed by the latter are predicted to hamper the growth of the Europe industrial protective footwear market in the years to come.
The Europe industrial protective footwear market is segmented on the basis of application and country. By application, the Europe industrial protective footwear market is classified into construction, chemicals, oil and gas, manufacturing, pharmaceuticals, transportation, food, and others. In 2013, the manufacturing segment was the largest segment of the Europe industrial protective footwear market in terms of volume. The manufacturing segment is predicted to expand at a 3.20% CAGR during the period between 2014 and 2020. Manufacturing is expected to be the largest application segment in Germany due to the presence of many manufacturing utilities in the country.
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The food segment is predicted to be the fastest developing segment of the Europe industrial protective footwear market, expected to progress at a 3.50% CAGR from 2014 to 2020. The others segment is predicted to expand at a 3.10% CAGR from 2014 to 2020. Some of the leading companies in the Europe industrial protective footwear market are Jal Group (Italy), Saina Group Co, Ltd. (China), Rahman Group (India), Cofra Holdings AG (Switzerland), Oftenrich Holdings Company Limited (Taiwan), and others.
Considering the rules and regulations of the European government, foreign manufacturers are focusing on improving the quality of their products so as to maintain their position in the market. Mergers and acquisitions are predicted to help the leading companies maintain their dominance in the Europe industrial protective footwear market in the years to come.
Key Segments of Europe Industrial Protective Footwear Market
Europe Industrial Protective Footwear Market, by application
Construction
Manufacturing
Oil and gas
Chemicals
Food
Pharmaceuticals
Transportation
Others
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