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Industrial Safety Footwear Market to generate $15.5 trillion from Construction Sector

Author : Rahul Varpe | Published Date : 2019-05-08 

Global Market Insights provides a detailed overview of Industrial Safety Footwear market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Industrial Safety Footwear market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report. 

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 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.

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Growing awareness towards workers health & safety accompanied by growing work fatalities in manufacturing sector will drive industrial safety footwear market. Increase in protective shoes & boots in the construction sectors driven by rising number of workplace accidents has influenced the infrastructure developers to improve occupational protection. Increasing safety shoes standards including OSHA for eliminating hazards at workplace will drive market.

Industrial safety footwear market from leather may register significant gains at over 5% by 2024. It is a preferred shoe material in the industries as it offers protection against falling objects, punctures, cutting hazards, burns and extreme weather conditions.

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.

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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.

Primarily aided by France, UK, Germany, and Spain, Europe industrial safety footwear market is slated to record a CAGR of around 4.5% over 2018-2024.

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.

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The competitive spectrum of industrial safety footwear market is inclusive of highly eminent companies such as Bata Industrials, Rockfall, Dunlop Boots, WOLVERINE, Honeywell, and Uvex Group. Focusing on the production of cost-effective goods has been observed to be a pivotal strategy adopted by industry leaders, that would certainly augment the revenue scale of market in the years to come.

 

 

Related News: https://www.prnewswire.com/news-releases/pumps-market-share-to-cross-us91bn-by-2025-global-market-insights-inc-300824166.html

 

 

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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