FactMR has published a new research report titled “Personal Floatation Devices Market Scenario Indicates Prime Trends & Growth Parameters, 2018-2028” to its online database that tries to unveil the various scenarios prevailing in the personal floatation devices market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the personal floatation devices market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers during the stated forecast period (2017-2026).
The personal floatation devices market continues to be influenced by a range of broader and industry-specific factors. Government regulations mandating the use of personal floatation devices on all vessels have been instrumental in promoting use among end-users. According to United States Coast Guard’s annual report, ‘Recreational Boating Statistics’, 80% of 701 deaths in the US in 2016 were on account of drowning – a staggering 83% of victims who drowned were not wearing a life jacket. Considering the fact that using a personal floatation device can significantly reduce the number of drowning fatalities, government and ombudsmen are working on making it mandatory for players to boost growth.
Demand has also witnessed an increase on account of increasing participation in recreation boating. While recreational boating has traditionally remained the biggest draw for manufacturers, sustained demand from oil & gas, and naval industry has also created sustained opportunities for manufacturers.
Use of personal floatation devices is mandatory for both adults and kids, however, in spite of effective regulation, implementation has been lax in many countries. Many developing countries have adequate laws in place that mandate the use of personal floatation devices, however, in view of lax implementation, penetration has remained moderate. The personal floatation devices market can witness robust growth in developing countries in Asia Pacific and Latin America if regulations and mandates on boating recreation are strictly implemented. The growing pervasiveness and popularity of e-commerce as a sales channel can help manufacturers in reaching last mile consumers in tier II and suburban areas.
Table of Content:
- Executive Summary
1.1. Summarizing Key Findings
1.2. Wheel of Fortune
1.3. Opportunity Assessment
1.4. Mega Trends
- Global Personal Flotation Device Market Introduction
- Global Personal Flotation Device Industry Overview
3.1. Global Personal Flotation Device Market Value (US$ Mn) Forecast and Analysis
3.2. Forecast Factors and Relevance of Impact