Market for Work Boots Is Expected to Grow to USD 26.5 Billion by 2032 | FMI
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The global work boots market is anticipated to strengthen its roots at a CAGR of 9.2% between 2022 to 2032, while it is forecasted to reach a value of USD 26.5 Billion by the year 2032. It is currently valued at USD 11.03 Billion in 2022.
Government programs to assist industry in repairing the harm caused by the spread of the covid-19. These plans include government promotions of the regional small businesses for growth and raw material subsidies.
The market for work boots is growing due to government regulations, private sector security standards raising for employees, new boot materials, and technology. Rapid industrialization, government initiatives, and cutting-edge sole technology all work together to propel work boot sales in new geographic areas.
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Growth prospects of the market with the increasing industries in the multiple regions with the scope of future around the latest technology. New technology like sensory and material-based technology is anticipated to fuel the sales of work boots.
Key Takeaways from the Market Study
- The work boots market is expected to increase with a market share of 25.0% in North America.
- Europe is expected to account for 22.89% market share during the assessment year.
- Based on material, the leather segment is expected to grow at a CAGR of 6.3% during the forecast period of 2022 and 2032. The growth prospects are attributed to non-conductivity that protects from fatal electric shocks, protection against punctures, falling objects, burns, cutting hazards, and extreme weather condition.
- Construction segment has the highest market share in the work boots market in the application category, holding a market share of 4.95% by 2027. The higher growth is there because these shoes comes with qualities like impermeable, resistant to casting oils, concrete & fuels, no resistance loss, water resistance, and protection against chemicals
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“The latest sensor technology, artificial intelligence, nanotechnology, and mixed material for better grip are some elements used in the new boots. These boots and their success is going to define the future prospects for the work boots market. The companies are now working on producing industry-specific boots such as factory smart boots, outdoor work boots, and healthcare smart boots. Researchers and boot makers have developed “smart boots” for the healthcare industry.” says a Future Market Insights analyst.
Work boots Market by Category
By Material, Work Boots Market is Segmented as:
- Leather
- Rubber
- Plastic
- Waterproof
- Polyurethane
By Product, Work Boots Market is Segmented as:
- Shoes
- Boots
By Application, Work Boots Market is Segmented as:
- Construction,
- Manufacturing
- Oil & Gas
- Chemicals
- Transport
- Mining
- Food
- Pharmaceutical
Competitive Landscape
A new market research report on work boots states that as market rec recovers from the course of the pandemic, government and private players are investing in the industries to enhance its productivity and transform its workings. Therefore, higher adoption of industry worker gear is pushing the key player to make the boots more reliable, strong, and comforting.
- Timberland Pro has introduced its new set of waterproof work boot that comes in different toe styles such as steel and composite toe. These are electrical hazard protection and blood-borne pathogen resistance. These boots have revolutionized the boot industry and have pushed the sales of work boots around the industrial spaces.
- Indian company, Black Diamond Safety has introduced its safety shoes for the factory workers around the nation. The USP is the aggressive pricing of these shoes while not compromising with the safety checks available.
- DKMILY DRY introduced its waterproof safety boots for men that comes in steel tow variants and are slip resistant, static dissipative and can be used on any construction site as the company claims them to be indestructible.
- SureWerx, a leading global manufacturer of safety, tool & equipment products, announced recently that it has acquired MEGA Comfort International Inc. This will expand its sales and distribution channel for better sales.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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