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Brazilian Industrial Protective Footwear Market
Frost & Sullivan, Nov 2011, Pages: 78
Frost & Sullivan's latest report analyses the Brazilian industrial protective footwear market. The total industrial protective footwear market is in the growth stage, and it is simultaneously witnessing innovation. This market is highly competitive and is anticipated to witness growth due to the rise in the number of end-user industries, such as Oil and Gas, Mining and Petrochemicals industries. Growth in this market is also likely to be driven by the Brazilian regulation which is becoming stricter about personal protective equipment. Finally, it is important to consider the increasing awareness of the product's benefits by industrial workers.
Key Highlights:
- There are a large number of Chinese companies working in the Brazilian market. Frost & Sullivan research shows that most local companies think that Chinese companies still do not create an impact in the local market.
- With strong Brazilian legislation which acts as a barrier to entry, foreign companies must adapt their products to get the Certificate of Approval from Brazilian authorities.
- All industries in the market have to use personal protective equipment in accordance with the current legislation in Brazil.
- The growth of industries helps in the growth of the personal protective equipment segment, and including the segment of protective footwear.
- In the forecast period the end user that will have the highest growth rate is construction. New technologies, public and private investments, and foreign companies increase the expected growth for this segment.
Brazilian Industrial Protective Footwear Market analyzes the industrial protective footwear market in Brazil. The market is divided into two segments based on the type of footwear: shoes and boots. The demand for protective footwear in Brazil is higher for shoes.
The market for protective footwear is estimated to be much bigger than official numbers show. Most market participants are focused on developing market with large end-user companies, and they do not cover the entire market, that has lots of small end-user companies. There is still a large untapped market and a greater chance for market development.
This market is highly competitive, largely due to the high number of market participants. With the implementation of legislation and increased surveillance, the number of companies just grows and tends to grow in coming years, making increase competitiveness of the market. To deal with the high level of competition, it is essential that a company attains success and remains competitive in this market. The factor most valued by end users is the competitive price, which takes priority over comfort and quality.
Industries are expected to grow in the coming years, and the demand for personal protective footwear is also likely to increase. Events such as the World Cup and the Olympics are expected to bring investment opportunities in the country, and market participants should utilize such opportunities to capture market share.
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