Safety Footwear Market is segmented By Material(Leather, Rubber, Plastic and Others), By End-User(Construction, Manufacturing, Pharmaceuticals & Healthcare, Chemical, Oil & Gas and Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Global Safety Footwear Market reached US$ 4.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 8.5 billion by 2030. The market is growing at a CAGR of 7.9% during the forecast period (2024-2031).
The global safety footwear market is a thriving industry that caters to the growing need for protective footwear in various sectors, including construction, manufacturing, oil and gas, healthcare and logistics. The safety footwear market has experienced steady growth in recent years.
For instance, the Canadian Centre for Occupational Health and Safety states that there are two primary foot injuries that occur at work. Foot injuries from lacerations, crushes, sprains and punctures fall under the first group. Slips, trips and falls are included in the second category of injuries. U.S. Bureau of Labour Statistics reports that private sector employers reported 2.6 million nonfatal workplace illnesses and injuries in 2021, which led these industries to increase their spending on worker foot safety.
U.S. has well-established safety regulations and standards in place to ensure workplace safety across various industries. Occupational Safety and Health Administration (OSHA) standards require employers to provide appropriate protective equipment, including safety footwear, to workers exposed to potential foot hazards. Compliance with these regulations drives the demand for safety footwear in the country. Therefore, U.S. accounted for more than 3/4th of the regional shares and is expected to grow at a highest CAGR during the forecasted period.
Market Summary
| Metrics | Details |
| CAGR | 7.9% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Material, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growth in Industrial and Construction Activities
Industrial and construction activities involve various hazards that can cause foot injuries, such as falling objects, sharp or pointed objects and slippery surfaces. Workers in these industries require protective footwear to reduce the risk of such injuries. This has led to an increased demand for safety footwear. With the growth in industrial and construction activities, the workforce in these industries is also increasing. This has led to an increased demand for safety footwear, as more workers require protective footwear.
In March 2023, uvex has introduced a variety of innovative safety shoes that may be used in a variety of workplace settings. The new uvex 2 construction has been developed to address the unique difficulties faced by the engineering and construction industries, where personnel and equipment must endure harsh weather conditions and significant mechanical stress. The innovative uvex waterstop technology used in the leather construction offers four times the amount of water protection compared to the European standard without impacting breathability. Additionally shielded from nails and other sharp things is a steel midsole that resists puncture.
Occupational Safety Regulations
The oil and gas industry is known for its hazardous work environments, including offshore platforms, drilling sites and refineries. Occupational safety regulations in this industry require workers to wear appropriate safety footwear to protect against various risks, such as chemical exposures, slip and fall hazards and potential foot injuries caused by heavy equipment. These regulations contribute to the growth of the safety footwear market by creating a strong demand within the oil and gas sector.
Occupational safety regulations in the manufacturing industry often stipulate the use of safety footwear to protect workers from machinery-related hazards, such as crushing, impact or electrical shocks. For example, the Occupational Safety and Health Administration (OSHA) in U.S. requires employers to provide safety footwear to workers in manufacturing settings where foot injuries may occur. This regulation drives the demand for safety footwear in manufacturing facilities.
High Cost and Availability of Substitutes
High cost and availability of substitutes are two factors that can restrain the growth of the global safety footwear market. Safety footwear can be relatively expensive compared to regular footwear. This high cost can be a significant barrier to entry for workers and employers, especially in developing countries where the cost of safety footwear may be considered too high. This can limit the demand for safety footwear, particularly among small and medium-sized enterprises with limited budgets.
Market Segmentation Analysis
The global safety footwear market is segmented based on material, end-user and region.
Owing to Its Durability and Resistant to Damage from Liquids, Leather Segment Gaining Attarction Among Other Material Segment
Leather is one of the most commonly used materials in the production of safety footwear and it is a popular choice among both manufacturers and consumers. Leather is a highly durable material that can withstand wear and tear and is resistant to damage from water and other liquids. This makes it an ideal material for safety footwear that needs to withstand harsh working conditions and last for a long time. Leather is a breathable material that allows air to circulate around the foot, keeping it cool and dry. Therefore, leatrher as material segment holds the majority of the total segmental shares.
Market Geographical Shares
The Rapid Industrialization in the Region Supplements the Growth of the Asia-Pacific Safety Footwear Market
Asia-Pacific is the largest and fastest-growing regional market for safety footwear, accounting for a significant share of the global market. Asia-Pacific is home to some of the world's fastest-growing economies, such as China and India, which are rapidly industrializing. As a result, there is a high demand for safety footwear in industries such as construction, mining and manufacturing, which is driving the growth of the safety footwear market in the region. Therefore, Asia-Pacific holds nearky half of the global market share.
Market Keyplayers
The major global players include Honeywell International Inc., Wolverine World Wide Inc., SATRA, Gore-Tex, Red Wing Shoes, Bata Industrials, Rock Fall, UVEX Safety Group, Dunlop Protective Footwear and Canada Goose.
COVID Impact
The pandemic heightened awareness of the importance of workplace safety. Employers across industries prioritized the health and well-being of their employees, leading to an increased demand for safety footwear as part of comprehensive safety measures.
The healthcare industry experienced a surge in demand for safety footwear due to the need for personal protective equipment (PPE) in hospitals, clinics and other healthcare settings. Healthcare workers required protective footwear to minimize the risk of contamination and ensure their safety while dealing with COVID-19 patients.
Russia-Ukraine War Impact
The conflict may disrupt the supply chains of safety footwear manufacturers located in the region. Factory closures, transportation disruptions and trade restrictions can result in supply shortages and delayed deliveries of safety footwear to global markets.
Safety footwear manufacturers in the affected region may face challenges in maintaining their production capacity due to the war. Damage to infrastructure, workforce displacement and resource constraints can lead to reduced output, affecting the availability of safety footwear in the global market.
Key Developments
- In March, 2023, For usage in a variety of various industrial conditions, Uvex has introduced a selection of state-of-the-art safety footwear. The 14 new models make use of the most recent uvex technology to improve wearability, guarantee quality and maximise sustainability.
- On October 21, 2021, The technical fabric division of W. L. Gore & Associates (Gore), GORE-TEX Professional, has introduced a brand-new, advanced 3-layer footwear upper technology called "EXTRAGUARD." Safety shoes that are waterproof and durable are typically bulky and uncomfortable to wear. Conversely, when performing strenuous tasks in the mud or rain, lightweight, breathable footwear may not always offer the best protection.
- On August 18, 2020, SATRA introduced a development sample assessment service for safety footwear products to assist shoemakers in highlighting any certification-related issues prior to the production of the entire shoe, thereby saving money and time.
Why Purchase the Report?
- To visualize the global safety footwear market segmentation based on material, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of aluminum pigments market level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global safety footwear market report would provide approximately 53 tables, 50 figures and 181 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
