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The safety shoes market size is estimated to grow at a CAGR of 7.11% between 2023 and 2028. The market size is forecast to increase by USD 2.30 billion. The growth of the market depends on several factors such as the increase in stringent safety standards for manufacturing safety shoes, the rising incidents of industrial accidents, and the stringent and comprehensive industrial safety regulations.
This safety shoes market report extensively covers market segmentation by distribution channel (offline and online), end-user (construction, chemical, manufacturing, mining, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the safety shoes market growth is the increase in stringent safety standards for manufacturing safety shoes. The rise in safety standards by regulatory bodies will force end-user industries to adhere to safety practices such as the use of safety shoes. In addition, non-adherence to the guidelines may result in heavy penalties issued by regulatory bodies such as OSHA. Furthermore, ANSI makes it mandatory for the manufacturers of safety shoes to meet performance standards.
Moreover, some of the criteria that need to be met by industrial safety shoe manufacturers include the safety shoes being impact and compression-resistant as well as offering similar protection against falling objects. In addition, the manufacturers need to produce industrial safety shoes that meet the criteria set by regulatory bodies will reinforce wearer safety. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the safety shoe market growth is the use of lightweight raw materials for making safety shoes. There is an increasing focus by companies on using lightweight raw materials when designing safety shoes as the weight can reduce the productivity of the wearers. In addition, heavy shoes may cause discomfort to wearers due to increased heat and sweat, low ventilation, and allergies.
Moreover, workers are often required to wear safety shoes for a long duration or throughout their work hours. As a result, optimizing the weight of shoes is critical to the manufacturing of safety shoes as they are used by industrial end-users. Therefore, several manufacturers are working on the development of materials and products that incorporate protection, comfort, and style, all in the same footwear. Hence, such factors are positively impacting the market which in turn drives the market growth during the forecast period.
Regular maintenance of safety shoes is one of the key challenges hindering the safety shoe market growth. Safety shoes need regular maintenance to keep the shoes in usable condition. In addition, most types of safety shoes are made of leather, and the work environment defines their lifespan. Furthermore, in certain work environments, workers are exposed to cement, mud, and various other harsh conditions.
Moreover, in such conditions, a thick film of mud or cement over the safety shoes tends to dehydrate the leather, as dry mud and cement have an affinity for water. As a result, this leads to dry cracks all over the shoes. Therefore, it becomes essential to moisturize the leather to avoid wear and tear. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Safety Shoes Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bata Brands Sarl: The company offers safety shoes products such as 3 button boot, B sport, bora derby and many more.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. This segment comprises physical retail and wholesale outlets, which provide customers with a hands-on shopping experience and face-to-face interaction. In addition, retail stores, including brick-and-mortar shoe stores and department stores, offer a diverse range of safety shoes. For example, Red Wing Shoe Stores, a well-known retailer, provides a comprehensive selection of safety footwear, allowing customers to try on various styles to ensure proper fit and comfort.
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The offline segment was the largest segment and was valued at USD 3.30 billion in 2018. Moreover, safety equipment and supply stores are dedicated to serving industries that require the use of safety gear, making them a vital offline distribution channel. In addition, construction companies, for instance, may procure safety footwear in bulk from local distributors, which can provide them with cost-effective solutions for outfitting their workforce. Furthermore, direct sales through manufacturer representatives offer a more personalized approach. In addition, this model often involves onsite consultations and customization of safety shoes, making it suitable for industries where customized safety solutions are paramount. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that are fuelling the growth of the market in APAC includes rapid industrialization and urbanization, which have led to growth in the construction, automotive, and manufacturing industries. In addition, China, India, Japan, and Australia are some of the key leading countries in the region, owing to their improving economic conditions and increased investments in various industries.
Moreover, public and private sector enterprises in these countries are likely to invest heavily in construction and manufacturing projects, owing to inexpensive labor. Furthermore, the population in these countries is growing at a higher rate than that of developed countries in the region, which will push the demand for new residential infrastructure. Hence, such factors are driving the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global safety shoe market witnessed a significant slowdown due to the temporary closure of manufacturing facilities in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in manufacturing units. Such factors are expected to drive the market during the forecast period.
The safety shoes market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Safety Shoes Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.11% |
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Market Growth 2024-2028 |
USD 2.30 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.75 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 39% |
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Key countries |
US, China, Japan, Germany, and the UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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 |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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