Lifebuoy Rings Market will Reflect Significant Growth Prospects during 2019-2027
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.
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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.
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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.
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Other key players operating in the global lifebuoy rings market are Mayur Industrial Corporation, Galvanisers India, FIRETEX PROTECTIVE TECHNOLOGIES, and SHM Shipcare.
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.