Protective Footwear Market to Witness Huge Growth by 2029
Pune, Maharashtra -- (SBWIRE) -- 09/20/2023 -- HTF MI started a latest business research with the Global Protective Footwear Market Study Forecast till 2029. This Protective Footwear market report brings data for the estimated year 2023 and forecasted till 2029 in terms of both, value (USD Million) and volume (MT) Market. The study is conducted by applying both top-down and bottom-up approaches and further iterative methods used to validate and size market estimation and trends of the Protective Footwear market. Additionally, to complement insights EXIM data, consumption, supply and demand Figures, raw price analysis, market revenue, and gross margins. Some of the companies listed in the research study are Bata Brand (India), Honeywell International Inc. (United States), Wolverine World Wide Inc. (United States), Rahman Group (India), Dunlop Protective Footwear (Portugal), VF Corporation (United States), Uvex group (Germany), Hewat's Edinburgh (United Kingdom), ELTEN GmbH (Germany), COFRA Holding (Switzerland), Rock Fall Ltd. (United Kingdom), Oftenrich Holdings Co. Ltd. (United States). Additionally, other players that are part of this detailed analysis are Timberland LLC (United States), KEEN, Inc. (United States), Ariat International, Inc. (United States), JAL Group (Italy). etc.
Protective footwear refers to footwear designed to protect the feet from various workplace hazards, including impact, compression, electrical hazards, chemical exposure, and more. This type of footwear is commonly used in industries such as construction, manufacturing, mining, agriculture, and healthcare.
The Global Protective Footwear market was valued at USD 4419.73 Million in 2023 and is expected to reach USD 6431.11 Million by 2028, growing at a CAGR of 4.8 % during 2023-2028.
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Market Scope / Segment Breakdown
Global Protective Footwear market has been analyzed on various dimensions that includes market sizing and share analysis in dollar term as well as by volume* and price. The segments included in the market study are mentioned below which has been reviewed both qualitatively and quantitatively.
Based on the type, the market is bifurcated as Shoes, Boots, and On the basis of application, the market is divided as Construction, Manufacturing, Mining, Oil And Gas, Chemical, Food, Pharmaceuticals, Transportation. The Shoes, Boots segment accounted for highest market share in 2022 and is hence expected to be the next fastest growing segment throughout the forecast period.
The report covers information regarding competitive outlook including the market share and company profiles of the key participants operating in the global Protective Footwear market. Some of the players that are profiled in the study are Bata Brand (India), Honeywell International Inc. (United States), Wolverine World Wide Inc. (United States), Rahman Group (India), Dunlop Protective Footwear (Portugal), VF Corporation (United States), Uvex group (Germany), Hewat's Edinburgh (United Kingdom), ELTEN GmbH (Germany), COFRA Holding (Switzerland), Rock Fall Ltd. (United Kingdom), Oftenrich Holdings Co. Ltd. (United States). Additionally, other players that are part of this detailed analysis are Timberland LLC (United States), KEEN, Inc. (United States), Ariat International, Inc. (United States), JAL Group (Italy). etc.
By Geography: North America, Europe, Southeast Asia, China, Japan, India, Middle East, Africa, LATAM, Others
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Qualitative Insights from Study
Protective Footwear Market Trends
- The intersection of protective features with fashionable aesthetics is expanding the market into new and stylish domains.
- The rising demand for protective footwear in niche applications, such as healthcare and food processing, is also influencing market trends.
Protective Footwear Market Drivers
- The market for protective footwear is driven by a combination of factors that prioritize worker safety, industry regulations, and technological advancements.
- Increasing awareness about workplace safety and the potential consequences of foot injuries fuels the demand for protective footwear.
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- To define and describe the Protective Footwear segmented by product & service, by application, by end-user, and by region.
- To estimate and forecast the Protective Footwear by value in USD Million.
- To estimate and forecast the market size for various segments with regard to Region Name.
- To profile key players and comprehensively analyze their market position in terms of ranking and core competencies.
- To analyze the markets situation with regard to industry trends, prospects, and contribution to the total market by identifying the high-growth segments of the Protective Footwear and provide the competitive landscape.
- To provide industry attractiveness with help of various tools such as the Porter's five force analysis and the PESTEL analysis.
Market Size Estimation
Top-down and bottom-up approaches are used to validate the Global Protective Footwear Market size market and estimate the market size for Manufacturers, Type and Regions.
The market estimations in this report are based on the marketed sale price of Protective Footwear excluding any discounts provided by the manufacturer, distributor, wholesaler or traders. The percentage splits, market shares, and breakdowns of the product segments are derived based on weightages assigned to each of the segments based on their utilization rate and average sale price. The regional splits of the overall Protective Footwear market and its sub segments are based on the percentage adoption or utilization of the given product in the respective region or country.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand Protective Footwear market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
- Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
- Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
- Technological (Changes in digital or mobile technology, automation, research, and development)
- Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
- Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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