High demand for industrial protective footwear from the mining industry in order to protect employees from leg injuries due to falling objects, chemical spill, and electric shocks is expected to bring new market opportunities. Industrial protective footwear also protects workers from slip, falls, and puncture. Steel-toed boots are mainly used in the mining industry. Thus high demand for protective footwear from the mining industry is expected to fuel the market growth of industrial protective footwear.
Increasing automation across various manufacturing industries such as pharmaceutical industry, power industry, and the automotive industry is replacing the number of employees, this is expected to hinder the demand for protective footwear. Thus, the growing popularity of automation across every sector is expected to restrict market growth.
On the basis of region, Europe region dominated the global industrial protective footwear market in 2019 with a 34.6% of market share in terms of value, followed by North America and Asia Pacific respectively.
On the basis of type, leather footwear segment dominated the global industrial protective footwear market in 2019 with 87.6 % of market share in terms of value, followed by water-proof footwear and rubber footwear segments respectively.
Increasing focus of oil &gas companies to overcome with high fatality rate due to hazardous working conditions is creating a huge demand for industrial protective footwear. Growing investment in the oil &gas industry, changing regulations, and increasing adoption of new protective footwear technologies is expected to accelerate the market growth of industrial protective footwear. Thus, increasing focus of oil &gas companies on enhance the worker's safety this is expected to propel the market growth over the forecast period.
Distribution partnership among major players to increase their consumer base is a major trend in the market. For instance, in Feburary 2019, LION First Responder PPE, Inc., the producer of protective equipment (PPE) in the United States and Weinbrenner Shoe Company, manufacturer of Thorogood brand footwear have entered into a long-term strategic partnership for exclusive certified boot selling and marketing of Structural Firefighting and Wildland/EMS boots. This strategic partnership allows LION to offer a comprehensive line of footwear to meet the wide-range of needs of the fire service.
Industrial Protective Footwear Market - Impact of Coronavirus (Covid-19) Pandemic
Manufacturing sector is expected to be most affected by coronavirus crisis. The crisis is expected to disrupt both demand as well as supply chains and capability of companies to deliver goods to market. The virus has struck the core global value chain regions including China, Europe and U.S. According to World Economic Forum, industrial in China has fallen by 13.5% in first two months of 2020 compared with the previous year. The slowdown in manufacturing is expected to impact demand of industrial protective footwear from this sector.