A personal floatation devices (PFDs) or core jacket are meant to be used as a web for confirming safe floating over water. They’re offered in kind of shapes and sizes associated with totally different weight. It’s a kind of protective instrument, particularly for safety whereas boating, water sports and for emergency conditions. These devices are light-weight and fewer compact than a lifejacket. Since they’re typically full of foam to stay people heat in water and warmth is systematically distributed round the body. These devices also are utilized to turn an unconscious person within the water to vertical or marginally reclining position. Also, it’s used for quick rescue operation as a result of its lightweight attribute.
According to the study, ‘Global Personal Flotation Devices Market to reach USD 3.1 billion by 2026’ specific that there are some corporate that presently functioning more successfully for dominant the foremost effective growth of the market and getting the productive competitive edge whereas acceptive the productive moneymaking ways inside that within which at intervals throughout that and policies like joint ventures, mergers and acquisitions, partnership, merger and merchandise development includes Absolute Outdoor Inc., Hydrodynamic Industrial Co. Ltd, International Safety Products Ltd., Johnson Outdoors Watercraft, Inc., National Marine Manufacturers Association, Kent Sporting Goods Co., Inc., Aqua Lung International, Coleman Company Inc., Erez Europe, LALIZAS. In line with the Insurance Information Institute (III), globally, there have been around 1,163 those who died because of marine accidents in 2017 and caused USD 197 million in insured loss. This, in turn, is predicted to accelerate the demand of personal flotation devices all over the world. However, lack of awareness associated with sorts of use and weight limit, along with the incomprehensible performance rating are some major factors seemingly to hinder the expansion of global personal flotation devices market over the forecast period.
The regional investigation of global Personal Flotation Devices Market is taken into the account for the key regions like Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is that the significant country over the world in terms of market share due to the increasing water recreational activities, along with the rising considerations towards the institution of innovative technology in coastal surveillance within the region. However, Asia-Pacific is anticipated to exhibit highest rate / CAGR over the forecast period, thanks to increased coastal surveillance applications and security threats from sea routes across the region.
Increasing specialize in preventing marine fatalities, escalating demand from government marine agency and coast guards and growing variety of water sport activities round the world are the few factors chargeable for high CAGR of the market over the forecast period. Moreover, increasing demand from government marine agency and coast guards are driving the demand for global personal floatation devices market. The responsibilities of coast guards embody safety of vessels, maintenance of sea-marks, and enforcement of maritime law, search and rescue. These life jackets are available to them in their boats and nearby places of work and include some additional features like whistles, emergency lights, etc. Furthermore, increasing activities such as fishing, boating and water sports are also driving the demand for personal floatation devices market in upcoming years.
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Ankur Gupta, Head Marketing & Communications