Industrial Safety Footwear Market 2021 Key trends, opportunities & forecasts to 2026
Global Market Insights, Inc., forecasts that global industrial safety footwear market size will be worth more than US$14 billion by 2026.
Selbyville, United States – July 20, 2021 /MarketersMedia/ —
Global Market Insights, Inc present the report on global Industrial Safety Footwear Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2020-2026.
Industrial safety footwear is a crucial protective gear designed to protect workers’ feet against a falling object, fatigue, cuts, burns, and electrical hazards. The use of personal protective equipment (PPE) in industrial environments has become mandatory worldwide with the introduction of stricter worker safety norms to avoid workplace injuries.
In anticipation of a notable demand for industrial safety footwear in the upcoming years, manufacturers are adopting strategies such as mergers, acquisitions, and partnerships to gain a competitive edge. Citing an instance, in April 2019, Saf-Gard Safety Shoe Company had acquired Great Lakes Industrial Shoe and Michigan Industrial Shoe.
Industrial safety boots for O&G sector
Industrial safety footwear mainly includes safety boots and safety shoes. These footwear products help protect the feet from impact, compression, and puncture. Industrial safety boots are extensively used in construction and oil and gas industries to protect workers from damaging their feet and ankles. These are generally preferred in extreme climatic conditions to protect against rain and snow. Industrial safety shoes, on the other hand, are expected to experience a substantial demand in the near future, with wide use in various industries.
Rubber products to witness strong demand
Rubber has gained wide acceptance in the manufacturing of industrial safety footwear products as it provides excellent resistance against chemicals, acids, and alkalis. In addition, the material offers additional electrical insulation to safety footwear. Rubber industrial safety footwear significantly reduce the impact on fall owing to superior avulsion resistance properties of the material. Rubber also provides exceptional slip resistance which helps prevent the risk of slips, trips, and falls. Meanwhile, leather industrial safety footwear products are expected to gain traction in the future.
Industrial Safety Footwear Market | Extensive application in construction sector
The demand for industrial safety footwear across the construction sector is slated to grow steadily by 2026. Construction applications pose several foot and ankle injury risks to workers and operators as numerous hazards are present at construction site, such as heavy or unsafe equipment and falling objects. Moreover, construction workers can injure their feet from climbing ladders or scaffoldings. These factors, along with the presence of stringent worker safety regulations, should promote the use of safety footwear in the construction sector.
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Industrial Safety Footwear Market | Stringent worker safety regulations in Europe
Europe accounted for more than 30% revenue share of global industrial safety footwear market in 2018. The regional demand has been mainly driven by rising awareness towards worker safety and the presence of a strict regulatory framework. With favorable raw material prices as well as transportation costs, local safety footwear manufacturers are bound to witness lucrative opportunities. These players are constantly investing in product innovations to bring new innovative products to the market and expand their market share.
In the near future, the adoption of industrial safety footwear will likely be driven by growing awareness among business owners pertaining to financial losses incurred in case of a workplace accident or injury. According to industry reports, out of more than 250,000 worker compensation claims, it was observed that the average settlement for a foot injury is about US$17,000.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/industrial-safety-footwear-market
Source: MarketersMedia
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