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.
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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.