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  • North American Protective Footwear Sector: COVID-19 Accelerates Inorganic Growth and Streamlines Supply Chains
    Elevated market competition creates a wave of mergers & acquisitions

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    This research presents an assessment of the current status and future prospects of the North American protective footwear market. In 2020, the market generated revenue of $2,134.0 million; the safety shoes segment accounted for 60.1% of that and will experience strong revenue generation, albeit marginally, during the forecast period, driven by high adoption in the construction, manufacturing, transport, and hospitality sectors.

    Construction, manufacturing, and oil and gas (O&G) were the three major end-use industries, accounting for 15.8%, 14.1%, and 12.9% revenue share, respectively. However, O&G was the most severely affected by the COVID-19 pandemic. The major growth restraints were temporary closure of fields during the peak months of the pandemic, reduced demand, and a drop in crude oil prices.

    The United States accounted for 87.5% market revenue share. The country will experience a compound annual growth rate of (CAGR) of 3.7% from 2020 to 2025. Post-pandemic growth will be driven by strict safety compliance enforced by employers looking to safeguard their workers’ health. Manufacturers will streamline supply chains and pursue inorganic growth to ensure sustainability.

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