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Demand Analysis of Personal Flotation Devices Market from 2022-2031
Personal Flotation Devices Market
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Some of the key companies identified in the global personal flotation devices market are:
The Coleman Company Inc.
Absolute Outdoor Inc.
Marine Rescue Technologies Ltd.
Aqua Lung International
National Marine Manufacturer Association
Erez Europe
Kent Sporting Goods Co., Inc.
LALIZAS
International Safety Product Ltd.
Hydrodynamic Industrial Co. Ltd
Hutchwilco Ltd.
Galvanisers India
Supreme In Safety Services
United Moulders Limited
Johnson Outdoors Watercraft, Inc.
Key Drivers of the Global Personal Flotation Devices Market
Government laws and regulations regarding work safety in coastal regions and while using boats is anticipated to be the key driver of the personal flotation devices market. For instance, as per the U.S. Coast Guard and federal law, a recreational boat must have approved life vests for each individual aboard.
Growing consumer preference for recreational boating and water sports is expected to drive the demand for personal flotation devices (PFD).
Robust economic growth in major marine markets and the growing government investment in advancement of boating infrastructure are identified as important factors contributing to the development of the PFD market.
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Opportunities in the Global Personal Flotation Devices Market
Increasing consumer awareness about the importance of personal flotation devices is the key market opportunity. Moreover, consumers prefer quality products that meet the specific government standards.
Technological advancement and continuous introduction of new water sports categories is expected to offer lucrative growth opportunities for the PFD market. Additionally, evolving lifestyles and increasing disposable income in developing economies is likely to boost the market demand during the forecast period.
By geography, the personal flotation devices market is segmented into Europe (EU), North America (NA), Middle East & Africa (MEA), South America (SA), and Asia Pacific (APAC)
The market research report delivers country level breakdown for each regional segment. On the basis of country, the North America personal flotation devices market is categorized into the U.S., Canada, and Rest of North America. Country-level segmentation of the Europe market provides historical and forecast analysis for the personal flotation devices market in France, the U.K., Germany, and Rest of Europe. Country-level segmentation of Asia Pacific provides analysis and forecast of the market in Japan, India, China, and Rest of Asia Pacific. Country-level segmentation of Middle East & Africa provides analysis and forecast of the personal flotation devices market in South Africa, GCC countries, and Rest of Middle East & Africa. Country-level segmentation of the South America personal flotation devices market includes Brazil, and Rest of South America.
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Key Companies in the Global Personal Flotation Devices Market
Key industry players are investing in new product development and novel raw materials. Sustainable business models and IoT enabled supply chains are key business strategies in the global personal flotation devices market. Online distribution channels are increasingly preferred for sales and marketing. Moreover, companies are focusing on collaboration and partnerships with regional suppliers to expand in the international market.
In April 2020, Seasafe Systems Ltd, a U.K. based company specializing in marine safety equipment launched "The Junior 150N Lifejacket," a new line of life vests for kids.
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