Safety Shoes Market to grow by USD 2.30 billion from 2023 to 2028; market is fragmented due to the presence of prominent companies like Anbu Safety Industrial Co. Ltd., Bata Brands Sarl, & Boskalis, and many more - Technavio
APAC will have the largest share of the 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.
New York, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The *safety shoes market* is estimated to grow by *USD 2.30 billion* from 2023 to 2028, growing at a *CAGR of 7.11%.* The safety shoes market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer safety shoes market are Anbu Safety Industrial Co. Ltd., Bata Brands Sarl, Boskalis, Caterpillar Inc., Dunlop Protective Footwear, Footwear Industries Pty Ltd., Gabri Sas co of MOLO SANTE and C., Honeywell International Inc., KARAM group, Liberty Shoes Ltd., Pezzol Industries Srl, RAHMAN GROUP, Red Wing Brands of America Inc., SAFETYKING INDUSTRIAL FOOTWEAR M SDN BHD, UVEX WINTER HOLDING GmbH and Co. KG, VF Corp., Wolverine World Wide Inc., Carhartt Inc., W. L. Gore and Associates Inc., and Zain Group. *The report provides a full list of key companies, their strategies, and the latest developments. **Download a Free Sample before buying*
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*Company Offering:*
· *Bata Brands Sarl - *The company offers safety shoes such as 3 Button Boot, B Sport, Bora Derby, and High Cut.
· *COFRA Srl - *The company offers safety shoes such as Best Fire F2, No Flame, No Streamer, and Shovel.
· *Dunlop Protective Footwear - *The company offers safety shoes such as the Pro Series, Vibram Series, Snugboot Series, and Guard Series.
· *For details on companies and their offerings –* *Buy the report!*
By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC will have the largest share of the 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. *Download a free sample report** to get more insights on the market share of various regions and the contribution of the segments.*
· *Impactful driver- *The safety shoes market is driven by stringent safety standards governing protective footwear manufacturing. This ensures the production of industrial-grade work boots meets vital criteria like steel toe shoes or composite toe boots protection, slip-resistant shoes, electrical hazard (EH) shoes, and oil-resistant boots, water, and chemicals. Metatarsal guard shoes, featuring waterproof safety shoes and chemical-resistant footwear, further emphasize compliance, driving the market's growth. These factors collectively elevate safety shoe offerings, catering to diverse occupational safety requirements.
· *Key Trend *- The safety shoe market experiences a significant trend influenced by the adoption of lightweight materials in crafting safety footwear. This evolution caters to demands for puncture resistant boots, heat resistant boots, and cold-weather safety boots, and anti-fatigue shoes, conforming to ANSI/ASTM standards. Specifically catering to industries like construction safety boots, mining boots, and oil and gas industry footwear, these advancements redefine manufacturing safety shoes, addressing diverse safety needs while ensuring enhanced comfort and compliance across specialized work environments.
· *Major Challenges *- Ensuring regular maintenance is a significant challenge impeding the growth of the safety shoe market. This issue affects various specialized footwear segments including agriculture work boots, tactical safety shoes and military grade footwear, healthcare industry shoes and food industry safety footwear, electricians' safety shoes and welding boots, athletic-style safety shoes and casual safety footwear, and ESD (Electrostatic Discharge) shoes. The demand for consistent upkeep presents a hurdle in sustaining durability and safety standards across these diverse occupational shoe categories, thus impacting market expansion.
*Market Segmentation*
· The offline segment will contribute the largest share of the market. Retail stores, including brick-and-mortar shoe stores and department stores, offer a diverse range of safety shoes. For instance, a well-known retailer, Red Wing Shoe Stores, provides a comprehensive selection of safety footwear, allowing customers to try on various styles to ensure proper fit and comfort. Direct sales through manufacturer representatives offer a more personalized approach, which often involves onsite consultations and customization of safety shoes.
*Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report*
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