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LONDON--(BUSINESS WIRE)--The global safety shoes market size is expected to grow by USD 890.34 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth. Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts The stringent implementation of safety standards by regulatory bodies will compel end-user industries to adhere to safety practices such as the use of safety shoes. Non-adherence to the guidelines may result in heavy penalties issued by regulatory bodies. American National Standards Institute (ANSI) makes it mandatory for manufacturers of safety shoes to meet performance standards. The organization sets forth various criteria which need to be met by industrial safety shoes manufacturers. For instance, safety shoes must be impact and compression resistant, and they must provide protection against falling objects or heavy rolling objects. In addition, metatarsal safety shoes should provide similar protection against falling objects particularly to the area of the foot between the toes and the ankle. The need to produce industrial safety shoes that meet the criteria set by regulatory bodies will reinforce wearer safety. This will promote workplace safety and popularity of use, which, in turn, will provide impetus to the global safety shoes market. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44597 As per Technavio, the rising instances of industrial accidents will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. Safety Shoes Market: Rising Instances of Industrial Accidents The increasing number of accidents across industries such as oil and gas industry, chemical industry, construction industry, and food processing industry will be a driving force for the market. Accidents across these industries are generally caused by falling of heavy objects over employees, slips, and falls. According to BLS, A total of 5,250 workers died from a work-related injury in the US in 2018. Nearly 20% of the fatally-injured workers were employed in the private construction industry. The workers are exposed to dangers in the construction industry due to uneven walking surfaces, electrical cords, wet spots, greasy spots, and oily spots. The food processing industry also has its own share of work-related hazards. The industry deals with different chemicals and oil. Thus, the rise in instances of industrial accidents will drive the demand for safety equipment, including safety shoes, thereby driving the market growth. Other factors such as the stringent and comprehensive safety regulations, and the growing automotive industry will have a significant impact on the growth of the safety shoes market value during the forecast period, says a senior analyst at Technavio. Register for a free trial today and gain instant access to 17,000+ market research reports Technavio's SUBSCRIPTION platform Safety Shoes Market: Segmentation Analysis This market research report segments the safety shoes market by end-user (construction, chemical, manufacturing, mining, and others) and geography (APAC, North America, Europe, South America, and MEA). The APAC region led the safety shoes market share in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the rapid industrialization and urbanization. Technavios sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report Some of the key topics covered in the report include: Market Drivers Market Challenges Market Trends Vendor Landscape About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Answer: Global Safety Shoes Market Analysis Highlights the Impact of COVID-19 Highlights, 2020-2024| Increase in Safety Standards to Boost Market Growth | Technavio