Business

Industrial Protective Footwear Market is predicted to progress from US$2.2 bn in 2013 to US$2.6 bn by 2020

Press Release
Industrial protective footwear market includes safety footwear used for worker’s safety across various industries such as construction, manufacturing, oil and gas, chemicals, and pharmaceuticals among others. Rise in the number of worker accidents coupled with the implementation of strict regulations are major factors driving the market currently. The market is expected to witness robust growth as the impact of these regulations is expected to increase in the coming years.
This report has been segmented by application and by country. The study highlights current market trends and provides the forecast from 2014 to 2020. We have also covered the current market scenario for industrial protective footwear and highlighted future trends that will have an impact on demand. By country, the market has been segmented into Italy, U.K., Germany and France. The present market size and forecast until 2020 has been provided in the report. The report also analyzes macro economic factors influencing and inhibiting growth of the industrial protective footwear market.
The manufacturing segment held the largest market share for industrial protective footwear in Italy. The growth in this segment is attributed to the large portion of labor force being employed in the manufacturing utilities in the automobile sector. Apart from this, the increasing awareness of workplace safety is also boosting the demand for industrial protective footwear in Italy. However, the others segment including agriculture, government usage, unorganized sector and small scale manufacturing utilities, is the fastest growing segment in Italy. The others segment was valued at USD 42.5 million in 2013 and is expected to see robust growth in the forecast period.
Construction is the largest application segment for industrial protective footwear in U.K. The construction segment was valued at USD 144.9 million in 2013 and is expected to have a stable growth in the forecast period. In addition, the average selling prices in U.K. are higher as compared to Italy owing to a major portion of local demand being imported from other countries.
The application of industrial protective footwear in manufacturing segment in Germany held the largest market share valued at USD 104.6 million. In addition, construction and oil and gas segment are some of the fast growing application segments for industrial protective footwear in Germany.
In terms of volume in million pairs, the others segment held the largest share for industrial protective footwear in France. The others segment was valued at 0.99 million pairs in 2013. The growth in this segment is attributed to the rising demand in the services segment. The services sector is one of the major industries contributing to the Gross Domestic Product (GDP) of France.
Furthermore, government regulations present in these countries acts as restraining forces for the new entrants to these markets. In addition, there are most favored nation (MFN) rates and sales tax and other duties which are to be followed compulsorily by foreign manufacturers.
Major industry participants include Jal Group (Italy), Rahman Group (India.), Saina Group Co. Ltd. (China), Oftenrich Holdings Company Limited (Taiwan) and Cofra Holdings AG (Switzerland) among others.

This post was originally published on The Market Plan