Press release
Next 10 Years To See Immersion Suits Market Getting Stabilized At A CAGR Of 6% : Fact.MR
As per latest market analysis on immersion suits by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 472 Mn by 2022-end, and expand at a CAGR of around 6% over the period of 2022-2032. This can be attributed to factors such as growing demand for immersion suits made from high-performance materials.The immersion suits business is moderately consolidated owing to the presence of a few manufacturers involved solely in the making of survival suits. Immersion suits have gained substantial traction in the marine and oil & gas industry, and these mentioned industries have been identified as key to revenue generation. Moreover, immersion suit producers are opting for product development, innovation, and R&D in suit development to enhance their properties, which would provide them with a competitive advantage in the market.
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Key Segments Covered in Immersion Suits Industry Research
By Insulation:
Insulated Immersion Suits
Non-Insulated Immersion Suits
By Product Type:
Survival Suits
Rescue Suits
Inflated Suits
By Size:
Small (S) Immersion Suits
Medium (M) Immersion Suits
Large & Extra Large (L & XL) Immersion Suits
By End Use:
Immersion Suits for Marine
Immersion Suits for Oil Rigs
Immersion Suits for Military
Immersion Suits for Fishing
Immersion Suits for Professional Water Rescue
Immersion Suits for Paddle Sports
Others
By Sales Channel:
Offline Sales of Immersion Suits
Brand/ Franchised Outlets
Independent Outlets
Mass Merchandisers
Specialty Stores
Modern Trade
Other Sales Channels
Online Sales/ E-tailing of Immersion Suits
e-Commerce Platforms
Company/ Brand Websites
By Region:
North America Immersion Suits Market
Latin America Immersion Suits Market
Europe Immersion Suits Market
East Asia Immersion Suits Market
South Asia & Oceania Immersion Suits Market
Middle East & Africa Immersion Suits Market
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Key Takeaways from Market Study
Insulated immersion suits projected to provide absolute $ opportunity worth US$ 282 Mn over the decade.
Based on product type, demand for survival immersion suits projected to increase at higher CAGR of around 6.6%.
On the basis of end use, immersion suit adoption in offshore oil rig activities anticipated to expand around 2.2X by 2032.
North America projected to capture around 35% of global immersion suits market share by 2032.
Europe to provide absolute $ opportunity worth US$ 120 Mn by 2032-end.
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Winning Strategy
Market players can be seen opting for a mix of organic and inorganic growth strategies such as acquisitions, collaborations, R&D, and innovation. Through these key market developments, companies have tried to gain a competitive advantage and higher revenue share in the overall survival suits market. Moreover, collaborating with key oil & gas companies for regular supply of survival suits has been identified as key strategy being opted for by market players.
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