Global Market Insights, Inc. has added a new report on the Industrial Safety Footwear Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size.
Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape Industry in tandem with its competitive terrain.
The commercialization graph of global industrial safety footwear market has been touted to depict an exponential growth in the years ahead, driven by the rising concerns regarding employee safety. That said, the stringent regulatory landscape laid down by organizations such as ILO and OSHA for promoting safe working conditions will also add momentum to the industry growth. The emerging PPE market, that is currently witnessing quite an expansion, is also estimated to push the industrial safety footwear market over the coming years.
Construction expenditure across the globe was valued at USD 7 trillion in 2013 and is forecast to hit a mammoth of USD 15.5 trillion by 2024. The substantially rising number of construction projects worldwide are expected to upsurge the demand for safety footwear, impelling industrial safety footwear market share from construction applications, slated to register a CAGR of 4.5% over 2018-2024.
As per safety regulations laid down by administrative bodies, construction workers are expected to wear safety boots incorporated with puncture-resistant, slip-resistant soles. These shoes even require special soles in order to provide protection against anti-slip & absorbing shocks. The rising product demand from the construction industry for safety footwear in order to avoid fatal accidents and ensure protection against falling objects such as pointed nails is certain to augment industrial safety footwear industry size from construction applications.
Europe is expected to emerge as one of the most pivotal regional grounds for the growth of industrial safety footwear market. One of the pivotal reasons for the same is the presence of a stringent regulatory framework prevalent in the region that strictly mandates the usage of safety footwear across major end-use domains in order to ensure workplace safety.
North America industrial safety footwear market is also heavily driven by a strict regulatory landscape. The commendable growth of industries such as manufacturing, O&G, pharmaceuticals, and construction in the region have prompted a substantial upsurge in the demand for safety footwear in the workplace. The U.S. in particular, boasts of strict mandates with regards to worker protection. Seemingly, the region has observed an exceptional rise in the demand for women safety shoes, considering the rise in the female workforce across hard-core industries such as chemicals and transport.
The continent of Asia Pacific is undeniably one of the most profitable regions for the development of industrial safety footwear market. This can be primarily credited to the expanding construction sector in the region, especially across the economies of India and China.
The continent is also characterized by extensive industrialization, and the rapid growth across the application arenas of mining, O&G, construction, and pharmaceuticals, that demand extensive worker safety equipment. Also influenced by a favorable regulatory spectrum, the Asia Pacific industrial safety footwear market size, led by India, Japan, and China, is likely to surpass consumption of 80 million pairs by 2024.
Request a sample copy of this report @ https://www.gminsights.com/request-sample/detail/1101
For more information visit: http://reportsgo.com