Lifebuoy Rings Market – Introduction
Lifebuoy rings are throwable devices designed to be thrown to a person in the water, to prevent drowning. Lifebuoy rings are also termed ‘perry buoy’ or ‘kisby ring.’ Lifebuoy rings are not worn like a life jacket. These rings have a connecting line which allows the rescue team to pull out the person in a ship or boat. The ring or horseshoe shaped life-saving buoys are compulsorily stored in cruise ships, boats, yachts etc. Lifebuoy rings are most commonly used in emergency situations and must be readily available for use.
Global Lifebuoy Rings Market – Competition Landscape
Industrial Safety Products
Founded in 1998, Industrial Safety Products is headquartered in Mumbai, India. The company manufactures and distributes a wide range of personal protective clothing and supplies such as industrial workwear, industrial leather gloves, leather safety workwears, uniforms, and industrial garments. The company is the leading distributor and service provider for fire, safety & traffic equipment etc.
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LALIZAS was incorporated in 1982 and is headquartered in Piraeus, Greece. The company produces quality products such as life jackets, lifebuoys, immersion suits, and chemical and protection equipment and distributes them in international markets through its well?established distribution network. LALIZAS offers its products and services in more than 127 countries. It has 8 branches, 7 logistics centers, and 8 franchises across the globe.
Survitec Group Limited
Survitec Group Limited was incorporated in 1920 and is headquartered in London, U.K. Survitec Group was formerly known as the Inflatable Systems Division of Wardle Storeys Ltd. In recent years, the company has continued to expand and evolve, both through the growth of market share, and through the acquisition of other leading manufacturers and brands. The company offers liferafts, marine evacuation systems, and boats for marine, aerospace, and logistics industries.
Other key players operating in the global lifebuoy rings market are Mayur Industrial Corporation, Galvanisers India, FIRETEX PROTECTIVE TECHNOLOGIES, and SHM Shipcare.
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Global Lifebuoy Rings Market – Dynamics
Rise in number of people participating in adventure water sports
Rapid increase in participation of individuals in adventure water sports and other recreational activities is anticipated to offer sustainable opportunities to manufacturers and distributors of lifebuoy rings in the forecasted timeline. Professional sailors involved in offshore sailing etc. always keep lifebuoy rings for safety purposes in their boats and yachts. Rise in number of drowning incidences while performing recreational activities in water bodies are likely to drive the global lifebuoy rings market in the near future.
Strict regulations and policies regarding usage of personal floatation devices
Implementation of strict rules and regulations imposed on compulsory usage of personal floating devices in cruise ships, small boats, and yachts, and during recreational activities is projected to be a driving factor for the growth of the lifebuoy rings market during the forecast period. The U.S., Canada, U.K., and Australia are strictly implemented regulations on usage of personal floating devices which include lifebuoy rings, horseshoe buoys, and cushions. Increase in awareness about safety and rise in number of sailing championships in emerging economies is expected to expand the lifebuoy rings market at a significant growth rate.
Global Lifebuoy Rings Market – Segmentation
The global lifebuoy rings market can be segmented on the basis of:
- Product Type
- Raw Material
- Distribution Channel
Global Lifebuoy Rings Market, by Product Type
Based on product type, the global lifebuoy rings market can be divided into:
- Inherently Buoyant
Global Lifebuoy Rings Market, by Raw Material
In terms of raw material, the global lifebuoy rings market can be segregated into:
Global Lifebuoy Rings Market, by Distribution Channel
On the basis of distribution channel, the global lifebuoy rings market can be bifurcated into:
- Speciality Stores
- Company-owned websites
- E-commerce portals
Global Lifebuoy Rings Market, by End-use
In terms of end-use, the global lifebuoy rings market can be classified into:
- Maritime Rescue
The report on the global lifebuoy rings market is a compilation of first-hand information, qualitative and quantitative assessment by market analysts, and inputs from market experts and market participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness of each segment. The report also maps the qualitative impact of various factors on segments of the market across regions.
Regional analysis of the global lifebuoy rings market includes:
- North America
- South America
- Asia Pacific
- Middle East & Africa (MEA)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.