A wide variety of industrial protective footwear such as rubber, leather, and plastic footwear are used by consumers to protect themselves from injuries due to falling objects, electrical contacts, moving machinery, and others during industrial work.
Portland, OR -- (SBWIRE) -- 09/28/2017 -- The growth of global Industrial Protective Footwear Market is driven by rapid industrial development, rise in the number of workplace accidents, and stringent government regulations regarding workers safety. In addition, introduction of innovative products and expansion in untapped geographies offer new opportunities for the market players. However, lack of awareness toward safety and security of workers in small- and mid-sized industries, majorly in developing economies, restrains the market growth.
Industrial Protective Footwear Market is expected to garner $5,981 million by 2022, registering a CAGR of 7.5% during the forecast period. Rapid industrial development, rise in health concerns, and increase in awareness toward workers safety in industrial sector fuelled the growth of industrial protective footwear market.
Leather footwear is expected to dominate the market throughout the analysis period. The segment constituted over 80% of the industrial protective footwear market size in 2015 and is anticipated to maintain this share till 2022. From a growth perspective, plastic footwear segment would witness the highest CAGR of around 9% from 2016 2022.
The construction industry dominated the application segment with over one-third of the total market revenue in 2015, and is expected to grow at a CAGR of 6.8% during the forecast period. The growth is driven by rising number of accidents at construction sites.
KEY FINDINGS OF THE INDUSTRIAL PROTECTIVE FOOTWEAR MARKET STUDY
- Rubber footwear segment is projected to show highest growth rate during the forecast period.
- Europe is projected to maintain its lead, growing at a CAGR of 6.8% from 2016 - 2022.
- The leather footwear segment accounted for more than four-fifths of the total industrial protective footwear market revenue in 2015.
- Construction dominated the application segment of the market in 2015.
- LAMEA is expected to grow at the fastest rate, during the forecast period.
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