Press release
Personal Flotation Devices Market is Expected to Grow at a CAGR of over 3.10%| During 2022-2028 | Vantage Market Research
According to Vantage market research the Global Personal Flotation Devices market was valued at USD 5.9 Billion in 2020 and is projected to reach USD 7.53 Billion by 2028, growing at a CAGR of 3.10% from 2021 to 2028.
Key Findings and Insights from the report:
• The report presents the estimated CAGR of 3.10% size of the Personal Flotation Devices Market at the end of the forecast period.
• The Global Personal Flotation Devices market is predicted to reach a value of USD 7.53 Billion by 2028.
• The report includes an overview of the market, the financial performance of key players its segmentation, its geographical scope.
• The report provides a detailed evaluation of the market by highlighting information on various aspects which include restraints, drivers, opportunities, and threats.
• Insight also covers the price, production, share, and growth rate of these top manufacturers and examines the competitive scenario for a better understanding of the market synopsis.
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A personal flotation device, also known as a life jacket, is a flotation device in the form of a vest or suit that is fitted to the user to prevent the wearer from drowning in a body of water or falling into the water lose hold they are the most important part of the safety equipment on the boat.
The implementation of stringent laws and regulations by the government is anticipated to boost the growth of the personal flotation devices market over the forecast period. This is due to work safety concerns in coastal areas when using boats. For example, in a recreational boat Sanctioned life vests must be available to each person in accordance with Coast Guard and federal law.
Market Segmentation:
By Type:
• Offshore Life Jacket
• Near-shore Buoyant Vest
• Flotation Aid
• Throwable Devices
• Special-use Devices
By Application:
• Aquaculture Industry
• Oil & Gas Industry
• Naval Industry
• Others
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COVID-19 Impact Analysis of Personal Flotation Devices Market:
When the Covid-19 pandemic began in China last year, it sent shock waves to countries around the world. And as the number of cases continued to rise, it forced governments around the world to take serious action such as border seals, lockdowns and enforce strict social distancing measures to avert imminent catastrophe. These actions had a dramatic effect on the economy, as industrialists around the world were forced to halt their production, leading to supply chain disruptions and the loss of various industries. Thus, a fall in the global markets.
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The Personal Flotation Devices market regional level analysis:
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
• North America (United States, Canada and Mexico)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
• South America (Brazil, Argentina, Colombia, and Rest of South America)
List of Leading Players in the Global Personal Flotation Devices Market:
• LALIZAS
• Kokatat
• International Safety Product Ltd.
• Erez Europe
• GALVANISERS INDIA
• United Moulders Limited
• Survitec Group Limited
• Marine Rescue Technologies Ltd.
• Hutchwilco Ltd.
• ABSOLUTE OUTDOOR INC.
• Astral
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Reason for buying this Personal Flotation Devices market Report:
• The report highlights the macroeconomic forces that are affecting the strategies and policies in the market.
• Report provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
• It provides a six-year forecast assessed on the basis of how the market is predicted to grow
• The report provides market leading players with facts and insights on the Personal Flotation Devices market.
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of industry segments.
• Disruption and uncertainties in the industry are studied in the report.
• It provides the key product segments and their future.
• The report identifies bottlenecks and problems associated with businesses operating in the Personal Flotation Devices market and provides possible solutions to those problems.
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