Industrial Safety Footwear Market 2020 Outlook, Geographical Segmentation, Industry Size & Share, Comprehensive Analysis to 2026
Selbyville, Delaware, United States, September 18 2020 (Wiredrelease) Global Market Insights, Inc –:Industrial safety footwear market growth will be considerably driven by amplifying product demand across transportation segment. Technological advancements and modernizations have made their presence felt across the transportation industry, which has offered spiraling growth to industrial safety footwear market size.
Rising concerns pertaining to the security of workers and upgraded safety standards will provide a major impetus to industrial safety footwear market growth. This footwear is designed to protect workers from injuries in the workplace. Industrial safety footwears are worn by workers to ensure safety against cutting, burning, slipping, electrocution, and falling objects.
These shoes are apt to use in high-temperature conditions due to their breathability for averting sweat. Also, industrial safety footwear industry players are effectuating technological advancements, which are expected to propel industrial safety footwear industry share.
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Based on material, industrial safety footwear market is segmented into rubber, waterproof, plastic, and leather. Among these, waterproof segment is expected to witness prolific growth in the ensuing years. Waterproof industrial safety footwear provide protection from debris in damp and cold conditions, which will contribute to induce their remarkable demand in market.
Plastic-based safety footwear are anticipated to register decelerated growth in the coming years. The lost pace of segmental growth can be attributed to the sustainability concerns in the industrial safety footwear business. In accordance, plastic segment is predicted to register a CAGR of around 3.7% over 2020-2026.
Elaborating further along the same line, rubber-based material segment is predicted to register commendable growth due to the rising visibility of expedient properties, including longevity factor, offered by the material. Rubber-based safety footwear is durable even in high-temperature conditions in various industries, such as mining and manufacturing.
Endorsed with a diversified end-user portfolio, the expedient growth of industrial safety footwear market share will be contributed by mining, construction, manufacturing, oil & gas, transport, chemicals, and food. Among these, chemical segment is likely to depict a commendable surge, projected to witness a 6.5% CAGR over the forecast period.
Furthermore, food segment is projected to observe remarkable growth owing to the intensifying significance of aseptic modes of food, notably in the biotechnology sector. Industrial safety footwear is used in the food industry to ensure safety against unsafe situations, such as wet feet, slippery floor, or impact, and crushes in the toe area.
Likewise, pharmaceutical segment is expected to account for around 4% share in the overall business revenue.
Elaborating on the regional contribution, North America has been touted to come up as the most developing region in the geographical landscape of industrial safety footwear market. The growth is anticipated to stem from the ongoing technological advancements and increasing investments in research & development activities.
The work environment in countries across North American belt, such as the United States is supervised by OSHA (Occupational Safety and Health Administration), a section of the U.S. Department of Labor. The OSHA is responsible for regulating & enforcing safety standards across all the workplaces to ensure employee protection.
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In Latin America, Brazil industrial safety footwear industry will chart out a lucrative growth path, owing to the rapid infrastructural developments in the country. Also, Middle East & Africa is projected to stimulate industrial safety footwear market outlook on account of increasing urbanization and growing oil & gas activities throughout the region.
The diversified end-user segment with the presence of numerous profit-making industries is estimated to improve industrial safety footwear industry trends in the near future. Stringent regulations implemented by governments to ensure worker safety and a marked rise in technological advancements are likely to emerge as major growth drivers. Also, accentuating oil & gas activities across MEA region will considerably push the growth trajectory of industrial safety footwear market.
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