NEWARK, Del, Sept. 20, 2022 (GLOBE NEWSWIRE) -- According to a latest report by FMI, the global the work boots market is anticipated to observe growth at a CAGR of 9.2% and is likely to touch a valuation of USD 26.5 bn by 2032, while it holds a revenue of USD 11.03 Bn in 2022
Government schemes to help industry recover from the damage done by the covid-19's spread. These schemes involve subsidies on the raw materials and government promotions of the local small businesses for the revival.
Government compliances and private space raising the security standards for their workers along with new boot material and technology strive the growth for the work boots market. Rapid industrialization, government initiatives and latest sole technology collectively grabs traction for the work boots market, fueling the sales of work boots in new regions.
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.
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Key Takeaways from 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
"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.
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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
By Region, Work boots Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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