NEW YORK, Jan. 21, 2016 /PRNewswire/ -- Technavio's market research analyst predicts the global foot protective equipment (FPE) market to grow at a rate of 7% during the forecast period. The manufacturing and construction industry in the APAC region is undergoing radical upgradation in terms of work safety, thereby driving the demand for FPE over the forecast period.
The increased focus by the European Commission on the compliance with regulations and legislations is expected to drive the growth of the FPE market. Various organizations have been appointed to supervise the proper implementation of these directives such as the FIOH, the Norwegian Industrial Safety and Security Organization, and the Danish Association of Occupational Health and Safety Consultants. With these organizations working for safer workplaces, the FPE market is expected to benefit from stringent workplace safety regulations.
Competitive landscape and key vendors
The global foot protective equipment market is slightly fragmented due to the presence of small and medium-sized players. However, the market is dominated by the established manufacturers such as Dunlop, Honeywell, and Bata. Vendors in the market differentiate their products based on quality, functionality, and price.
The key vendors in the market are
- BBF Safety
- Jonsson Workwear
- Liberty Shoes
Other prominent vendors in the market include Ansell, ANBU Safety, Cat Footwear, J& K Ross, Mammoth Footwear, Norwest Safety, and Seton.
Segmentation by end users and analysis of the FPE market
- Mining and manufacturing
- Energy and utilities
Mining and manufacturing was the largest end-user segment in the market during 2014 and is expected to account for 42% of the market shares by the end of the forecast period. The products that are primarily used for mining purposes are either made up of leather or rubber depending on whether the mine is a wet or dry one. They also need to fulfill minimum protective requirements that would include a puncture proof sole with an outer layer made up of composite materials to prevent slipping.
Segmentation by material type and analysis of the FPE market
Metals constituted 36% of the market share in the FPE market during 2014. Metal shoes, made of materials such as steel, helps in providing protection to the toes from heavy metals or falling and rolling objects.
Segmentation by specification and further analysis on:
- Leather safety shoes
- Electrical safety shoes
- Chemical safety shoes
- Electrical and chemical safety shoes
Geographical segmentation and analysis of the global foot protective equipment market
The Americas accounted for the largest market share in the global FPE market of around 46% during 2014. The region is expected to grow at a rate of 7% during the forecast period. This research report anticipates the region to witness a slight decline in shares during the forecast period due to the saturation in industries like construction and mining.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global FPE market?
- What are the Key market trends impacting the growth of the FPE market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global FPE market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the FPE market?
Technavio also offers customization on reports based on specific client requirement.
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Read the full report: http://www.reportlinker.com/p03571281-summary/view-report.html
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