Safety Shoes Market - Global Forecast and Opportunity Assessment by Technavio

Technavio has published a new report on the global safety shoes market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global safety shoes market is growing at a CAGR of more than 5% during the forecast period.

This research report titled ‘Global Safety Shoes Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global safety shoes market is driven by the growth in various end-user industries such as construction, manufacturing, chemical, transport, and mining industries. These end-user industries are prone to several hazards, and it becomes mandatory for the employees to ensure that the workers wear safety shoes to enhance workplace safety. Also, other factors that would drive the market are stringent and safety regulations posed by regulatory authorities like OSHA.

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Technavio’s research analysts categorize the global safety shoes market into the following segments by end-user. They are:

  • Construction
  • Chemical
  • Manufacturing
  • Mining
  • Oil and gas
  • Others

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The top three safety shoes generating end-user segments are discussed below:

Construction

The demand for safety shoes will be driven by the growth in the construction industry. The construction industry faces the highest number of fatalities as it is prone to several hazards. Increasing construction activities in countries such as the US, China, and India coupled with the rising number of workplace accidents is fueling the adoption of safety shoes in the segment to improve occupational safety.

According to Neelesh Prakash Singh, a lead research analyst from Technavio, “Construction ventures in developing markets are likely to keep growing at a much quicker rate than that in advanced economies. The fastest growth would be seen in developing economies such as China and India. Apart from APAC, the Americas is also witnessing significant growth, especially in the residential sector. The reason for the boom is due to the demand for multifamily housing, which is creating a lucrative opportunity in the market along with the development of state’s infrastructural amenities.”

Chemical

The demand for safety shoes from the chemical industry will show a positive growth as the chemical industry is witnessing a boom across the regions. Chemical firms witnessed a positive growth at the beginning of 2017, owing to increased demand from various industries such as electronic material and textile dyes.

“The chemical industry is prone to several hazards, which require the workers to follow certain PPE directives. Safety shoes protect the wearers in the chemical industry against harmful liquids such as acids and other hazardous chemicals. The chemical industry deals with several hazardous chemicals, and there exists a risk of chemical leakage,” adds Neelesh.

Manufacturing

The demand for safety shoes from the manufacturing industry such as automotive industry will drive the segment's growth during the forecast period. The rising sales of automobiles coupled with the increasing investments in the automotive sector will spur the demand for safety shoes. The automotive industry is subjected to several hazards as the workers work under unpleasantly hot and humid conditions, and the work area is exposed to electrical hazards.

The automotive industry undertakes activities such as welding, which is quite a risky operation given the environment it is to be executed. In order to avail protection from sparks, it becomes essential for the workers to wear safety shoes. Also, the use of oil in the process of lubrication may make the ground area slippery and lead to accidents like slips and fall. All these problems can be addressed by the use of safety shoes.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Honeywell
  • Bata
  • WL Gore & Associates
  • Rock Fall

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global safety shoes market is growing at a CAGR of more than 5% through 2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com