DUBAIWATER, February 28, 2022 /PRNewswire/ — According to an analysis by Future Market Insights (IMF), the industrial safety shoes Marlet should be rated at US$18.99 million in 2032, growing at a CAGR of 6.3% over the forecast period.
CAGR of Industrial Safety Footwear Market (2022-2032)
Industrial Safety Footwear Market (2020)
Industrial Safety Footwear Market Attraction
The increased acceptance of ergonomic protective footwear from various sectors is driving the expansion of the industrial safety footwear market over the forecast period.
Rapid industrialization, combined with the expansion of end-user sectors such as construction, mining, food, pharmaceuticals, oil and gas, as well as increased government measures to improve worker safety, will drive the industrial safety footwear market forward.
In addition, over the projection period, exceptional training programs combined with new stringent safety regulations will make it possible to improve the safety equipment system.
As technology advances and existing safety rules and standards improve, the global industrial safety footwear market is booming. The BSI, ILO and OSHA are just a few of the national agencies that follow a set of safety recommendations. According to the agencies, employers must offer certified safety equipment to their employees during working hours.
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Additionally, due to the COVID-19 pandemic, throughout the lockdown period, customers have delayed or postponed spending on non-essential products and services, such as shoes, clothing, and household appliances. which led to a drop in demand for shoes. Additionally, temporary closures of manufacturing units and closure of manufacturing industries have also affected the demand for industrial safety shoes.
However, after understanding the problem better, the government has issued several regulations to avoid duplication and maintain product quality. As a result, security products must pass rigorous quality control without compromising security criteria. For example, the American National Standards Institute (ANSI) develops and oversees industry standards for safety footwear, helping to remove the aforementioned barrier.
There is a small chance that poor quality products will be prevalent, which will indirectly increase workplace hazards due to poor product quality.
Key points to remember:
- With a market size of over $8.50 billion and a CAGR of over 6.5% over the forecast period, the leather industrial safety footwear market is expected to hold the largest share in 2020.
- In 2027, the industrial safety footwear market for the construction industry is expected to exceed $4.95 billion.
- By 2027, the North American market is expected to reach $5.40 billion, with a CAGR of more than 6% over the forecast period. In North Americamanufacturing is the fastest growing application segment for industrial safety footwear.
- During the forecast period, increasing adoption of health and safety standards to prevent workplace fatalities is expected to drive the demand for safety footwear.
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Manufacturers are investing in innovative technologies and product development to capitalize on the growing demand for industrial safety footwear in the coming years.
Honeywell International, Inc, JAL Group France SAS, COFRA Srl, Rock Fall Ltd, Uvex Group, Anbu Safety Industrial Co., Ltd, Hillson Footwear Pvt. Ltd, Bata Industrials, and Williamson-Dickie Manufacturing Co. are all significant players in the industrial safety footwear market.
- At a security fair in dubai in February 2020, Rock Fall Ltd has introduced new safety shoe designs from its fire, electrical and extreme heat protection boots. This version has the world’s first arc flash protection boot. As a result, starting the business helps them improve their portfolio and generate more income in the following years.
- Major competitors in the market are working on lightweight composites to reduce the pain associated with typical PVC, such as heaviness and difficulty walking. Additionally, expansion is one of the most common tactics companies use to expand their global reach.
Key market segments
- petroleum gas
- Chemical products
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Key Questions Answered by the Report
- What is the growth outlook for the Industrial Safety Footwear market?
- What was the size of the Industrial Safety Footwear market in 2022?
- What factors are driving the expansion of the Industrial Safety Footwear market?
- Which region is leading the Global Industrial Safety Footwear market report?
- What will be the size of the Industrial Safety Footwear market by 2032?
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About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. IMF is headquartered in dubaiand has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.
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SOURCE Future Market Outlook