Industrial Safety Shoes Market to grow at a 5% CAGR from 2016 to 2024: Global Market Insights, Inc. China industrial safety shoes market size should witness over 5.5% growth. Industrial Safety Shoes Market size is set to reach USD 7.8 billion by 2024; according to a new research report by Global Market Insights, Inc. Global industrial safety shoes market size is slated to surpass 300 million pairs by 2024. Growing workplace hazards along with strong regulatory framework by OSHA, ILO and BSI to ensure employee safety should drive product demand. Industrial shoes can bear impact of approximately 200 joules and offers electricity and heat resistant characteristics. Worker exposure to hazards which involve falling objects, chemicals, electrical contact and moving machinery, may risk foot injury. Falls, trips and slips altogether accounted for over 15% of the total incidents which can be prevented by protective wear and industrial safety footwear market products with superior surface grips. They significantly reduce the risk of cut from sharp edges and impact of falling objects, thereby boosting demand.
Industrial protective footwear market growth faces a challenge due to cheaper substitute from availability of duplicate and inferior quality products from local manufacturers. Premium or established brands in the industrial safety footwear industry face competition from inexpensive products manufactured by local companies by using low quality or spurious materials.
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