Safety shoes market size is set to grow by USD 1.64 billion from 2021-2026; An increase in safety standards will boost the market- Technavio
NEW YORK, March 28, 2023 /PRNewswire/ -- The global safety shoes market size is estimated to grow by USD 1.64 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 5.78% during the forecast period. An increase in safety standards is driving the growth of the market significantly. Increased safety standards by regulators force end-user industries to adhere to safety practices such as the use of safety shoes. Non-adherence to the guidelines may result in heavy penalties issued by regulatory bodies such as OSHA. The American National Standards Institute (ANSI) requires manufacturers of safety shoes to meet performance standards. The organization has specified various standards that safety shoe manufacturers must meet. The need to manufacture work safety shoes that meet standards set by regulatory agencies increases wearer safety. This will promote workplace safety and the popularity of use, which, in turn, will provide impetus to the global safety shoe market. For more insights on the market - Request a sample report
Global Safety Shoes Market ? Market Dynamics
Leading trends influencing the market
The ergonomically designed safety shoes are a safety shoe market trend that is expected to have a positive impact in the coming years.
Safety shoes are ergonomically designed, which aims to provide protection and support to the natural movement of the human body.
Meeting the ergonomic criteria for personal protective equipment such as safety shoes is an essential criterion. It makes the manufacturers accountable for ensuring the safety of use, health and hygiene of the wearer, and ergonomic properties of their protective products.
The shoes are to be ergonomically designed, as they have a greater influence on body weight and movement, failing which can lead to several health issues accompanied by comfort and fit issues.
The design of the shoes is governed by parameters such as even pressure distribution and less strain on the joint angles of the feet.
Such factors will increase the market growth during the forecast period.
Major challenges hindering the market growth
The improper selection of shoes will be a major challenge for the safety shoe market during the forecast period.
Safety shoes are of different types and are designed to protect against specific threats. Therefore, choosing the right shoes that meet the needs of the industry is imperative.
Safety footwear manufacturers and retailers should provide guidance and sufficient information on safety footwear to enable end users to make the right purchase choices.
Sometimes it becomes tedious for manufacturers and retailers to supervise the selection process of safety shoes.
Improper selection of safety shoes can pose several hazards, depending on the type of work being done in the industry. It can lead to other foot problems such as bunions, corns, calluses, and hammer toes.
Moreover, it can even cause discomfort in your legs, hips, and back. Such factors will hinder the market growth during the forecast period.
Technavio has extensively analyzed 15 major vendors, including Anbu Safety Industrial Co. Ltd., Bata Brands Sarl, COFRA Srl, Dunlop Protective Footwear, GABRI SAS DI MOLO SANTE and C., Honeywell International Inc., KARAM group, Liberty Shoes Ltd, Pezzol Industries Srl, RAHMAN GROUP, Rock Fall UK Ltd, SAFETYKING INDUSTRIAL FOOTWEAR M SDN BHD, Son of the Nature of Technology, uvex group, VF Corp., W. L. Gore and Associates Inc., Wolverine World Wide Inc., and Zain International.
Global Safety Shoes Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on end-user (construction, chemicals, manufacturing, mining, and others).
The construction segment will account for a significant share of the market growth during the forecast period. The construction industry has the highest number of fatalities because it faces multiple hazards. Increasing construction activities in countries such as the US, China, and India, coupled with the rising number of workplace accidents are fueling the adoption of safety shoes in the segment to improve occupational safety. Emerging market construction companies are likely to continue to grow much faster than their developed counterparts. The fastest-growing markets are emerging markets such as China and India. In addition to APAC, North America is also seeing strong growth, especially in the residential sector. The reason for the boom is the demand for multifamily housing, which is creating a lucrative opportunity in the market along with the development of the state's infrastructural amenities.
Geography Overview By geography, the global safety shoes market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global safety shoes market.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. APAC contains some of the fastest-growing economies in the world, such as China, India, and Japan. Economic growth is accelerating in these countries, increasing spending on infrastructure and industrial development. These factors are driving the demand for passenger cars. In recent years, rapid economic development in emerging markets has led to higher per capita incomes, increased consumer purchasing power, and increased vehicle sales. The growth of the automotive industry in APAC can be attributed to the growing consumer base in the region. The increasing demand for automobiles has led multinational companies to expand their manufacturing facilities in various countries such as India. Hence, the growth of APAC's automotive industry will subsequently increase the demand for safety shoes and drive the growth of the regional market during the forecast period.
The industrial safety gloves market is estimated to grow at a CAGR of 7.25% between 2021 and 2026. The size of the market is forecasted to increase by USD 3.1 billion. This report extensively covers market segmentation by material (natural rubber gloves, vinyl gloves, nitrile gloves, neoprene gloves, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
The safety apparel market size is expected to increase by USD 9.80 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.3%. Furthermore, this report extensively covers the market segmentation by application (chemical defending, flame retardant, mechanical, high visibility, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Safety Shoes Market Scope
Report Coverage
Details
Base year
2021
Growth momentum & CAGR
Accelerate at a CAGR of 5.78%
Market growth 2022-2026
USD 1.64 billion
Market structure
Fragmented
YoY growth 2021-2022 (%)
4.9
Regional analysis
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 39%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Anbu Safety Industrial Co. Ltd., Bata Brands Sarl, COFRA Srl, Dunlop Protective Footwear, GABRI SAS DI MOLO SANTE and C., Honeywell International Inc., KARAM group, Liberty Shoes Ltd, Pezzol Industries Srl, RAHMAN GROUP, Rock Fall UK Ltd, SAFETYKING INDUSTRIAL FOOTWEAR M SDN BHD, Son of the Nature of Technology, uvex group, VF Corp., W. L. Gore and Associates Inc., Wolverine World Wide Inc., and Zain International
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 110: Honeywell International Inc. - Overview
Exhibit 111: Honeywell International Inc. - Business segments
Exhibit 112: Honeywell International Inc. - Key news
Exhibit 113: Honeywell International Inc. - Key offerings
Exhibit 114: Honeywell International Inc. - Segment focus
10.7 KARAM group
Exhibit 115: KARAM group - Overview
Exhibit 116: KARAM group - Product / Service
Exhibit 117: KARAM group - Key offerings
10.8 Liberty Shoes Ltd
Exhibit 118: Liberty Shoes Ltd - Overview
Exhibit 119: Liberty Shoes Ltd - Product / Service
Exhibit 120: Liberty Shoes Ltd - Key offerings
10.9 Rock Fall UK Ltd
Exhibit 121: Rock Fall UK Ltd - Overview
Exhibit 122: Rock Fall UK Ltd - Product / Service
Exhibit 123: Rock Fall UK Ltd - Key offerings
10.10 uvex group
Exhibit 124: uvex group - Overview
Exhibit 125: uvex group - Business segments
Exhibit 126: uvex group - Key offerings
Exhibit 127: uvex group - Segment focus
10.11 VF Corp.
Exhibit 128: VF Corp. - Overview
Exhibit 129: VF Corp. - Business segments
Exhibit 130: VF Corp. - Key news
Exhibit 131: VF Corp. - Key offerings
Exhibit 132: VF Corp. - Segment focus
10.12 Wolverine World Wide Inc.
Exhibit 133: Wolverine World Wide Inc. - Overview
Exhibit 134: Wolverine World Wide Inc. - Business segments
Exhibit 135: Wolverine World Wide Inc. - Key offerings
Exhibit 136: Wolverine World Wide Inc. - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 137: Inclusions checklist
Exhibit 138: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 139: Currency conversion rates for US$
11.4 Research methodology
Exhibit 140: Research methodology
Exhibit 141: Validation techniques employed for market sizing
Exhibit 142: Information sources
11.5 List of abbreviations
Exhibit 143: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
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