Market Trends of Industrial Protective Footwear Industry
Strict Government Regulations Regarding Workers' Safety
- Governments of various countries worldwide are focusing on their workers' safety. They are outfitting employees with appropriate footwear to reduce injuries. Protecting employees with standard industrial footwear cuts lost work hours and improves productivity. For instance, in the United States, federal regulations adopted and enforced by the Occupational Safety & Health Administration (OSHA) protective footwear are mandatory for industrial workers. OSHA has various rules and regulations regarding workplace safety, including section 29 CFR 1910.136 on occupational foot protection.
- Moreover, safety, innovation, comfort, and aesthetic value are the chief attributes of industrial safety footwear. Over the years, shoe producers worldwide have focused on incorporating these attributes in their products to provide workers with a safe workplace and comfort. Also, the average cost per work injury for fracture or dislocation will be approximately USD 60,934 in 2023 in the United States, as per National Safety Council (NSC) reports.
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Asia-Pacific Holds the Singificant Share
- The growth in this region is mainly driven by the introduction of regulations that mandate the usage of safety shoes in the work environment along with occupational safety standards. High expenditure on infrastructure growth and rising product demand from the growing construction sector are expected to boost the industrial protective footwear market. The significant expansion of the construction industry in developing economies such as India and China supports market growth.
- The regulatory authorities in China are implementing standards to prioritize workforce security, further leading to the increased demand for safety footwear across industries to provide organizational safety to the workforce. India is one of the fastest-growing markets in the Asia-Pacific (APAC) region. Increased awareness regarding the protection of workers in the industrial sector, followed by rapid industrialization, fuelled the growth of the industrial protective footwear market in India.
- The manufacturing industry has led the Japanese economy and is responsible for 90% of Japan's exports. Growing adaptation of health and safety practices to reduce workplace fatalities is expected to surge the product demand for protective footwear over the forecast period.
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