Growth predicted for European safety footwear market

Research suggests Europe-wide sales of £1.9 billion by 2020.

A recent research report forecasts the Europe industrial protective footwear market to expand at a compound annual growth rate (CAGR) of 2.10 per cent between 2014 and 2020. Published by the Transparency Market Research company, the study predicts that sales of safety footwear in Europe will grow from the 2013 figure of £1.6 billion ($2.2 billion) to £1.9 billion ($2.6 billion) by 2020.

According to the report, increasing industrialisation and a rise in the number of workers across the continent are major factors expected to boost the demand for such footwear. In particular, France, Germany and Italy are predicted to create new growth opportunities in the European industrial protective footwear market during coming years.

Key segments within the market are construction, manufacturing, oil and gas, chemicals, food, pharmaceuticals and transportation. In 2013, manufacturing was the largest segment of the continent’s industrial protective footwear market in terms of volume. This is predicted to expand by 3.20 per cent CAGR between 2014 and 2020. Food production is anticipated to be the fastest-developing segment of the market, at 3.50 per cent CAGR from 2014 to 2020. Others segments are predicted to expand at 3.10 per cent CAGR up to 2020.

The research highlights that as a result of the European Union rules and regulations, foreign manufacturers are focusing on improving the quality of their products to maintain and strengthen their market positions.

Publishing Data

This article was originally published on page 12 of the April 2016 issue of SATRA Bulletin.

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