LONDON--(BUSINESS WIRE)--The global safety shoes market size is poised to grow by USD 890.34 million during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The rising instances of industrial accidents is one of the primary growth factors for this market. The increasing number of accidents across industries such as oil and gas, chemical, construction, and food processing is creating the need for safety attire and accessories, including safety shoes. Accidents across industries, especially the construction sector, are generally caused by falling of heavy objects over employees, slips, and falls. The construction industry witnesses the highest number of injuries and fatalities. Safety shoes are built to improve surface contact resistance and provide stability of posture while walking, which reduces the probability of falling on a slippery surface. The growth of end-user industries and the need to prevent accidents at the workplace are driving the sales of safety shoes.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
- The major safety shoes market growth came from the construction industry segment. The rising need to improve occupational safety in the construction industry is driving the need for safety shoes for workers. 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. As a result, the safety shoes market share growth by the construction segment will be faster than the growth of the market by the other segments in the coming years.
- APAC was the largest safety shoes market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as rapid industrialization and urbanization will significantly drive safety shoes market growth in this region over the forecast period.
- The global safety shoes market is fragmented. Bata Brands SA, COFRA Srl, Dunlop Protective Footwear USA LLC, Honeywell International Inc., KARAM group, Liberty Shoes Ltd., Rock Fall (UK) Ltd., uvex group, VF Corp., and Wolverine World Wide Inc. are some of the major market participants. To help clients improve their market position, this safety shoes market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global safety shoes market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/safety-shoes-market-industry-analysis
Increasing Rate of Ergonomically Designed Safety Shoes will be a Key Market Trend
The increasing rate of ergonomically designed safety shoes is one of the latest safety shoes market trends. Ergonomically designed footwears have a greater influence on body weight and movement, which if not implemented can lead to several health issues accompanied by comfort and fit issues. Additionally, ergonomically designed safety shoes to help in reducing strain and provide sufficient support to the feet. Such an ergonomic approach toward designing and manufacturing safety shoes will increase customer base and loyalty, contributing to market growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Safety Shoes Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist safety shoes market growth during the next five years
- Estimation of the safety shoes market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the safety shoes market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of safety shoes market vendors
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by end-user
- Construction - Market size and forecast 2019-2024
- Chemical - Market size and forecast 2019-2024
- Manufacturing - Market size and forecast 2019-2024
- Mining - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by end-user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Bata Brands SA
- COFRA Srl
- Dunlop Protective Footwear USA LLC
- Honeywell International Inc.
- KARAM group
- Liberty Shoes Ltd.
- Rock Fall (UK) Ltd.
- uvex group
- VF Corp.
- Wolverine World Wide Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.