The main objective of this report is to define, describe, and forecast the global “Industrial Protective Footwear” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global industrial protective footwear market is projected to grow at a CAGR of 6.1% over the forecast period of 2018-2024.
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Nike Launched innovative footwear
April 2018, Nike launched an innovative footwear “ NikePlus”. It is embedded with near-field communication (NFC) chip. This chip will provide several opportunities, which would be available to exclusive members-only opportunities when chip would be scanned with a user’s smartphone. Among the primary opportunities will be to access a program called “The Choice,” which qualifies the shoe-buying experience by offering users access to hot footwear drops around the city. When scanning the chip, users will be shown two products but will only be able to choose one. Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is the world’s largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment.
EQT Acquired Majority Stake in Dunlop Protective Footwear
May 2018, The EQT Mid Market Europe fund acquired a majority stake in Dunlop Protective Footwear from its current owner Gilde Equity Management Benelux (“GEM”). GEM would be a significant shareholder and will continue to support the growth plans of the Company in close cooperation with EQT and Management.
Dunlop is the leading global manufacturer of branded protective wellington boots, serving professionals in Agriculture & Fishery, Food processing, Industry and Oil, Gas & Mining. With over 500 employees, production sites in the Netherlands, Portugal and the US, and sales activities around the world, Dunlop serves customers in more than 50 countries.
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EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia, and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership.
The growth of construction and numerous industries is boosting the demand for protective footwear
Protective footwear helps to protect feet from unwanted damage or injuries. It helps to provide a morale boost up among workers and they do their work without fear. Additionally, it helps to save lots of medical expenses, due to the injury of feet and many more. Hence, the demand for protective footwear is increasing as the industrialization is growing especially from construction, iron and steel, and the chemical sector.
North America to influence the Global Industrial protective footwear Market through 2018-2024
North America dominates the global industrial protective footwear market due to the developed industrial sector, stringent government rules about the safety of human being and provision of financial compensation in case of injury to workers. Furthermore, the Europe industrial footwear market is expected to grow over at a good CAGR in the coming years due to the presence of several shoe manufacturing firms in countries such as the U.K., Spain, Italy, France, and Germany. The increasing government regulations in Asia Pacific region regarding workplace safety is most likely to boost the demand for industrial protective footwear in the Asia Pacific region, especially in China and India. These regions are expected to boost the demand for protective footwear due to growing industrialization, the growth of the construction sector. Additionally, the growth of several industries as chemical, pharmaceutical, iron, and steel industries are helping to boost the demand for industrial protective footwear products in this region.