PORTLAND, Oregon and PUNE, India, February 22, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Industrial Protective Footwear Market-Global Opportunity Analysis and Industry Forecast, 2014-2022", the industrial protective footwear market was valued at $3,529 million in 2015, and is projected to reach $5,981 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022. The leather industrial protective footwear segment accounted for more than four-fifths of the total industrial protective footwear market revenue in 2015.
Summary of the Industrial Protective Footwear Market Report can be accessed at: https://www.alliedmarketresearch.com/industrial-protective-footwear-market
The market includes footwear designed to assure workers' safety in industries such as construction, manufacturing, chemical, and others. Rise in health concerns and occupational safety issues have increased the use of industrial protective footwear. Industrialists focus on improving the safety standards owing to increased worker safety issues, thus fueling the demand for safety footwear globally.
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.
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 FOOTWEARE 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.
In 2015, Europe and North America collectively accounted for more than half of the total industrial protective footwear market size, and are expected to continue this trend during the forecast period, primarily due to increasing government regulations toward workers' safety.
The major companies profiled in the report include Rahman Group, Honeywell Safety Products, Oftenrich Holdings Co. Ltd., COFRA Holding AG, Saina Corporation Co. Ltd., Jal Group, ELTEN GmbH, UVEX Safety Group, VF Corporation, and Rock Fall Ltd.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/consumer-goods/apparel-and-fashion-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
SOURCE Allied Market Research