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Western European Protective Footwear Growth Opportunities

Western European Protective Footwear Growth Opportunities

  • July 2021
  • 160 pages
  • ID: 6106070
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

The Western European protective footwear market generated €1,737.0 million in revenue in 2020. Market demand was driven by stringent enforcement of regulatory norms and an increasing awareness of the ability of protective footwear to reduce on-the-job injuries.Among the 3 product segments, safety footwear accounted for 52% of revenue share in 2020. This segment will experience growth in revenue share during the forecast period 2021–2025, which will be driven by greater adoption in the construction, manufacturing, transport, and hospitality industries.In 2020, manufacturing, construction, and transportation accounted for 28.6%, 18.2%, and 10.6% of the revenue share, respectively. Demand for safety footwear in the oil and gas sector witnessed a decline. The major growth restraints were the temporary closure of oil fields during the peak months of COVID-19, reduced demand, and the drop in crude oil prices.Germany accounted for 29.6% of revenue in the Western European protective footwear market in 2020. The country is expected to witness a compound annual growth rate (CAGR) of 3.3% during 2020–2025. Post-pandemic growth will be driven by increasted adoption of protective footwear in small- and mid-sized businesses.Adoption of protective footwear with anti-slip and electrostatic discharge (ESD) properties will increase during the forecast period. The high incidence of injuries caused by slips and trips and electric shocks is boosting the demand for protective footwear with such properties.Sustainable, circular economy-based protective footwear is a major industry trend. Protective footwear companies and material and technology providers are forming partnerships to offer eco-friendly products. The market is set to experience growing popularity of green, natural, and recyclable materials in the near term.
Author: Anjan Kumar Roy

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