Global Personal Floatation Devices (PFDs) Market: Snapshot
The global personal floatation devices (PFDs) market is poised to grow at prodigious rate during the forecast period of 2019 to 2028. The market is expected to witness remarkable demand avenues in the upcoming period on the back of rising popularity of water-based tourism in all worldwide locations. Personal floatation devices (PFDs) are also known as life jackets. As the name suggests, these are life-saving devices majorly used in various water-based activities including boating, water sports, and cruise ships. The main motive of these devices is helping a wearer to keep floating when they are in water.
An upcoming research report from TMR on the personal floatation devices (PFDs) market presents a complete study of vital factors supporting or obstructing the market growth. This aside, the report provides dependable data on key elements such as volume, shares, key players, and probable development avenues in the market for personal floatation devices (PFDs). Thus, the report works as a helpful guide on the personal floatation devices (PFDs) market that covers data for the forecast period of 2019 to 2028.
The global personal floatation devices (PFDs) market is segmented on the basis of product type and region. Based on product type, the market for personal floatation devices (PFDs) is bifurcated into type I, type II, type III, type IV, and type V.
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Global Personal Floatation Devices (PFDs) Market: Growth Dynamics
In recent times, there is considerable increase in the overall disposable income of major worldwide population. As a result, there is remarkable growth in the participation of people in the leisure and tourism activities. Thus, increased number of participants in surfboarding, canoeing, rowing, outdoor swimming, and motor boating activities is boosting the growth of the global personal floatation devices (PFDs) market. Apart from this, the market is gaining the benefit of rapid urbanization in various countries of the world.
Major recreational facilities are using diverse strategies to attract people toward water-based activities. They are providing a wide range of offers on these water activities. As a result, there is considerable increase in the participants of activities related to water sports. This factor is stimulating the demand avenues for the global personal floatation devices (PFDs) market. Further, increased number of female participants in such activities is fueling the market growth.
Global Personal Floatation Devices (PFDs) Market: Competitive Analysis
The nature of the global personal floatation devices (PFDs) market is moderately fragmented. With presence of considerable number of well-established players such as Hutchwilco Ltd., Johnson Outdoors Inc., and Astral Buoyancy Co., the competitive landscape of the market for personal floatation devices (PFDs) is highly intense. Vendors working in this market are focused on advancing the quality of products they offer. Several enterprises are rolling out new products. Major enterprises in the personal floatation devices (PFDs) market need to focus on fast-growing segments. This move will help them to stay ahead in the competition.
The list of key players in the global personal floatation devices (PFDs) market includes:
- Hutchwilco Ltd.
- Johnson Outdoors Inc.
- Astral Buoyancy Co.
- Kokatat Inc.
- Marine Technologies International
- Kent Water Sports LLC
- Newell Brands, Inc.
- Mustang Survival ULC
- Survitec Group Ltd.
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Global Personal Floatation Devices (PFDs) Market: Regional Assessment
The global personal floatation devices (PFDs) market is spread across five key regions, namely, Latin America, North America, Europe, Asia Pacific, and Middle East and Africa. Of them, North America is one of the prominent regions of the market for personal floatation devices (PFDs). One of the key reasons for this development is rising number of water-based events and activities in the region. Apart from this, improved disposable income in the region is supporting market growth.
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.