Industry Background:
Life ring is a ring-shaped floating life preserver, required primarily to assist the man overboard situation. It is designed for both commercial and recreational use. These apparatus used for a person in the water to provide buoyancy to prevent drowning. Some modern life rings that are fitted with a seawaters-activated light or lights to aid rescue at night. For instance, according to OSHA 1926.106(c) life ring require on docks at interval not exceeding 200feet, also require that they shall be readily available for emergency rescue operations. The involvement of government law and regulations is booming the demand for it in the market.This growth is primarily driven by Increasing Adoption of Water Safety Devices across the Globe Has Boosted the Demand for It in the Market, Increasing Number of Participating Individual in Adventure Water Sports and The Growing Number of Drowning Incidences in Water Is Driving the Demand for It in the Market.
Major Vendors, such as Jim-Buoy (United States), Taylor Made (United States), Mustang Survival, Inc.(United States), Viking Life-Saving Equipment (Denmark), Lalizas (Greece), Hansen Protection AS (Norway), Kent Sporting Goods (United States), Secumar (Germany), SeaSafe Systems (United Kingdom) and Grand Ocean Marine (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing Adoption of Water Safety Devices across the Globe Has Boosted the Demand for It in the Market
- Increasing Number of Participating Individual in Adventure Water Sports
- The Growing Number of Drowning Incidences in Water Is Driving the Demand for It in the Market
Market Trend
Restraints
- High Cost Associated With life ring
Opportunities
Increasing Government Involvement and Investment in Marine Sector and Regulations Related To the Safety Has Created the Opportunity of Growth for Life Ring Manufacturer
Challenges
Stringent Government Rules and Regulations and Maintenance and Routine Inspection of Life Ring Is Required Before and After Use
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Life Ring Study Sheds Light on
The Life Ring Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Life Ring industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Life Ring industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.