Growth Opportunities for Protective Footwear in Western Europe
The protective footwear market in Western Europe generated € 1,737. 0 million turnover in 2020. Market demand has been driven by the strict enforcement of regulatory standards and a growing awareness of the ability of protective footwear to reduce workplace injuries.
New York, July 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Western European Protective Footwear Growth Opportunities” – https://www.reportlinker.com/p06106070/?utm_source=GNW
Among the 3 product segments, safety footwear accounted for 52% of the 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 construction, manufacturing, transportation 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 industry has declined. The main hindrances to growth have been the temporary shutdown of oil fields during peak COVID-19 months, falling demand and falling crude oil prices. Germany accounted for 29.6% of the Western European protective footwear market revenue in 2020. is expected to experience a compound annual growth rate (CAGR) of 3.3% during the period 2020-2025. Post-pandemic growth will be driven by the increased adoption of protective footwear in small and medium-sized businesses. The adoption of protective footwear with anti-slip and electrostatic discharge (ESD) properties will increase during the forecast period. The high incidence of injuries from slips, trips and electric shocks increases the demand for protective footwear with such properties. Sustainable protective footwear based on the circular economy is a major trend in the industry. Protective footwear companies and suppliers of materials and technology partner to deliver environmentally friendly products. The market is expected to experience growing popularity of green, natural and recyclable materials in the short term.
Author: Anjan Kumar Roy
Read the full report: https://www.reportlinker.com/p06106070/?utm_source=GNW
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