What is Inflatable Lifejackets Market?
Drowning remains a major cause of fatal death around the world. In the past few decades, the annual drowning rate has changed little, and there have been significant deaths from recreational boat drowning. Boaters like the feel of the sun and water spray, and it's always tempting to enjoy a boat trip without a life jacket. However, it is important to recognize the ways in which recreational sports prevention strategies can be improved as non-fatal immersion rates are significantly high. Current life jackets are available in different colors, shapes, and sizes. Some of the life jackets are flexible and thin, while others are built into fishing vests or hunter coats. Life jackets are inflatable and as compact as a belt bag or a scarf. The vests are automatically filled with air as soon as they hit the water. Life jackets are designed and approved by government agencies for use by civilians (seafarers, recreational boaters, canoeists, kayakers). These differ from those used by passengers and crew members of aircraft (airplanes, helicopters) and merchant ships (passenger ferries, tugs). Cargo ships). Life jackets or life jackets are compulsory on aircraft flying over water. Life jackets are delivered on commercial seagoing vessels, are accessible to all passengers and crew, and are put on in an emergency.
The market study is being classified by Type (Vest Type Inflatable Lifejackets and Yoke Type Inflatable Lifejackets), by Application (Personal Use and Commercial Use) and major geographies with country level break-up.
Survitec Group (United Kingdom), VIKING Life-Saving Equipment A/S (Denmark), The Coleman Company (United States), Hansen Protection AS (Norway), Drager (Germany), Johnson Outdoors (United States), Kent Sporting Goods (United States), LALIZAS (Greece), Mustang Survival Corp. (Canada), O'Neill (United States), International Safety Products (United Kingdom), Secumar (Germany), Salus Marine Wear Inc. (Canada), Dongtai Jianghai (China), Stormy Lifejackets (Australia) and Wuxi Xingtai Shipping Equipment (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are MW Watersports (United States), SeaSafe Systems (United Kingdom) and Aqua Life (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Inflatable Lifejackets market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Inflatable Lifejackets market by Type, Application and Region.
On the basis of geography, the market of Inflatable Lifejackets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Number of People Indulging In Recreational Activities
- Strict Regulatory Frameworks and Policies Regarding Compulsory Usage of Life Jackets
- The Growing Popularity of Water Sports Tourism
- Rising Participation in Water Sports
- Increasingly Engage In Adventure Activities
- Technological Advancements
- Amusement Parks and Water Sports Are Shut Down Due To Covid-19 Pandemic
There are strict regulatory frameworks and policies regarding the compulsory usage of personal floatation devices. The governments of various countries such as the U.S., the U.K., and Australia are very strict in terms of rules so as to follow while performing any kind of recreational activities or for industrial or commercial use of life jackets.
Key Target AudienceManufacturers of Inflatable Lifejackets, Suppliers and Distributors of Inflatable Lifejackets, End-Users, Potential Investors, Market Research Firms and Others
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