Chinese Protective Footwear Market, Forecast to 2023

Chinese Protective Footwear Market, Forecast to 2023

Sustained Economic Growth and Increasing Safety Awareness to Stimulate Market Growth

RELEASE DATE
19-Sep-2019
REGION
Asia Pacific
Research Code: PAAF-01-00-00-00
SKU: PP00193-AP-MR_23616

$3,000.00

Special Price $2,250.00 save 25 %

In stock
SKU
PP00193-AP-MR_23616

$3,000.00

$2,250.00 save 25 %

DownloadLink

Pay by invoice

ENQUIRE NOW

Description

The Chinese protective footwear market is at a growth stage. As the market has not been well-penetrated, it presents significant potential for growth. The Chinese market is highly fragmented with a large number of participants (>100). The top 3 participants together hold a combined total market share of 7% to 10%. Domestic manufacturers account for a significant market share. However, owing to the presence of a large number of competitors and little product differentiation, the market share of each domestic manufacturer is limited. Foreign companies such as Delta Plus, Honeywell, and Safety Jogger (Cortina), albeit holding a small combined market share, have been growing at a rapid rate in the Chinese market by establishing a strong customer base and brand image. These participants focus on mid-range and high-end products, which allows them to avoid pricing pressures to a certain extent.

Drivers for growth in the Chinese protective footwear market include increasing safety awareness among companies, growing safety consciousness among workers, and economic growth. Lack of safety regulations and effective enforcement, cost concerns, shrinking of some end-use industries, and the potential impact of factory automation are among the strongest factors restraining growth in this market

Safety shoes are preferred and demanded by the majority of end users in the Chinese protective footwear market. An important reason for this is that safety boots are, in general, more technically sophisticated and therefore more expensive than safety shoes. As the Chinese market is highly price-sensitive and given the lack of stringent regulations and strict enforcement, there is a strong customer preference for the most basic and low-priced products.

Manufacturing is the biggest end-use industry for the Chinese protective footwear market. China has been the largest manufacturing hub worldwide with a sizable workforce. Although employment in the manufacturing industry has witnessed a slight decline, penetration of the market is still low, which presents a strong potential for growth. Construction is the most fast-growing end-use industry for the Chinese protective footwear market. This is driven by sustained rise in employment in the industry as well as increasing adoption of protective footwear. In comparison, the mining industry presents fewer opportunities for protective footwear suppliers. The industry has been experiencing a decline in employment over the last 2 to 3 years, and this trend is likely to continue. The industry has also witnessed greater penetration compared to the others, and therefore is likely to present less growth potential.

Table of Contents

Executive Summary—Key Findings

Executive Summary—Market Engineering Measurements

Executive Summary—CEO’s Perspective

Market Overview—Classification

Market Overview—Definitions

Market Overview—Definitions (continued)

Market Overview—Percent Revenue by Product Type

Market Overview—Percent Revenue by End User

Market Overview—Market Distribution Channels

Growth Factors and Challenges

Market Engineering Measurements

Forecast Assumptions

Unit Shipment and Revenue Forecast

Unit Shipment and Revenue Forecast Discussion

Percent Revenue Forecast by Product Type

Revenue Forecast by Product Type

Revenue Forecast Discussion by Product Type

Percent Revenue Forecast by End User

Revenue Forecast by End User

Revenue Forecast Discussion by End User

Competitive Environment

Top Competitors

Top Competitors (Continued)

Competitive Factors and Assessment

The Last Word—Three Big Predictions

Legal Disclaimer

Partial List of Other Companies

List of Exhibits

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
The Chinese protective footwear market is at a growth stage. As the market has not been well-penetrated, it presents significant potential for growth. The Chinese market is highly fragmented with a large number of participants (>100). The top 3 participants together hold a combined total market share of 7% to 10%. Domestic manufacturers account for a significant market share. However, owing to the presence of a large number of competitors and little product differentiation, the market share of each domestic manufacturer is limited. Foreign companies such as Delta Plus, Honeywell, and Safety Jogger (Cortina), albeit holding a small combined market share, have been growing at a rapid rate in the Chinese market by establishing a strong customer base and brand image. These participants focus on mid-range and high-end products, which allows them to avoid pricing pressures to a certain extent. Drivers for growth in the Chinese protective footwear market include increasing safety awareness among companies, growing safety consciousness among workers, and economic growth. Lack of safety regulations and effective enforcement, cost concerns, shrinking of some end-use industries, and the potential impact of factory automation are among the strongest factors restraining growth in this market Safety shoes are preferred and demanded by the majority of end users in the Chinese protective footwear market. An important reason for this is that safety boots are, in general, more technically sophisticated and therefore more expensive than safety shoes. As the Chinese market is highly price-sensitive and given the lack of stringent regulations and strict enforcement, there is a strong customer preference for the most basic and low-priced products. Manufacturing is the biggest end-use industry for the Chinese protective footwear market. China has been the largest manufacturing hub worldwide with a sizable workforce. Although employment in the manufacturing industry has witnessed a slight decline, penetration of the market is still low, which presents a strong potential for growth. Construction is the most fast-growing end-use industry for the Chinese protective footwear market. This is driven by sustained rise in employment in the industry as well as increasing adoption of protective footwear. In comparison, the mining industry presents fewer opportunities for protective footwear suppliers. The industry has been experiencing a decline in employment over the last 2 to 3 years, and this trend is likely to continue. The industry has also witnessed greater penetration compared to the others, and therefore is likely to present less growth potential.
More Information
No Index No
Podcast No
Author Kara Ruan
Industries Personal Protective Equipment
WIP Number PAAF-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9984-A2,9310,9595