Albany, NY -- (SBWIRE) -- 09/27/2017 -- A new research report has recently been published by Transparency Market Research, titled "Industrial Protective Footwear Market - Middle East Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020." The research study talks about the product segmentation, current trends, drivers and restraints, and competitive analysis of the Middle East industrial protective footwear market. The detailed analysis of the major players, coupled with valued inputs by industry experts, assist the new entrants in formulating their policies effectively and determining the growth factors of and opportunities in the market.
According to the research study, in 2013, the Middle East industrial protective footwear market was worth US$218.7 mn and is estimated to reach a value of US$432.4 mn by the end of 2020. The market is projected to exhibit a healthy 10.40% CAGR between 2014 and 2020.
Industrial protective footwear is designed in order to provide safety to the workers. The footwear bears a protective reinforcement that protects the foot from compression or falling objects. Industrial protective footwear is widely used for workplace safety in diverse industries. The increasing number of worker accidents and implementation of rigid regulations are some of the major factors expected to augment the growth of the Middle East industrial protective footwear market throughout the forecast period.
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In addition, the increasing awareness regarding workplace safety, increasing labor force, and rapid industrial development are further driving the demand for industrial protective footwear in the Middle East. Government rules and regulations in the Middle East are expected to have a strong impact on the industrial protective footwear market in the next few years.
On the basis of application, the industrial protective footwear market has been classified into pharmaceuticals, food, manufacturing, construction, oil and gas, chemicals, transportation, and others. Among these, the oil and gas segment accounts for the largest share in the industrial protective footwear market in the Middle East. On the other hand, the chemicals segment in the UAE is projected to exhibit a healthy 11.30% CAGR between 2014 and 2020, whereas the chemicals segment is projected to grow rapidly in Saudi Arabia, registering a 22.70% CAGR between 2014 and 2020.
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On the basis of geography, the Middle East industrial protective footwear market has been divided into major countries such as Saudi Arabia, Kuwait, the UAE, and Bahrain. Among these countries, Saudi Arabia is considered as the major regional segment, accounting for the highest demand for industrial protective footwear across the Middle East. The market share and forecast figures of each region have been included in the scope of the research study. The potential of the industrial protective footwear market in the Middle East is estimated to attract new business ventures into this market in the forecast period. Nevertheless, government regulations and duties are anticipated to act as a restraint on the growth of the market.
Furthermore, the research report covers the vendor analysis and competitive landscape of the Middle East industrial protective footwear market, including the company overview, products offered, financial overview, business strategies, SWOT analysis, and recent developments if any. Some of the prominent players operating in the market are Jal Group, Rahman Group, Oftenrich Holdings Company Limited, Saina Group Co. Ltd., and Cofra Holdings AG.
Industrial Protective Footwear Market Report is available @ US$ 5795