Global Inflatable Marine Life Rafts 2017-2021
About Inflatable Marine Life Rafts
Inflatable marine life rafts are small, rigid boats that are used for the emergency evacuation of a vessel. Inflatable rescue rafts likely have auto-inflation devices such as carbon dioxide canisters or mechanical pumps or may be inflated before deployment.Life rafts are used as a life-saving appliance for seagoing merchants and passengers. These are used along with life boats. However, life rafts are easier to launch than lifeboats. At the time of emergency, ships can be vacated without manually launching life rafts as they are designed with an auto-inflatable system.
Technavio’s analysts forecast the global inflatable marine life rafts to grow at a CAGR of 3.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global inflatable marine life rafts for 2017-2021. To calculate the market size, the report considers the demand for inflatable marine life rafts across various applications.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Inflatable Marine Life Rafts 2017-2021
Technavio recognizes the following companies as the key players in the global inflatable marine life rafts market: LALIZAS, Plastimo, Survival products, and VIKING LIFE-SAVING.
Other Prominent Vendors in the market are: Chongqing Guanheng Technology & Development, Jiaxing Rongsheng Lifesaving Equipment, Galvanisers India, Revere Survival, Winslow Life Raft, Zodiac Nautic, and Survitec Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in participation of sea sports. The increase in participation of sea sports will likely contribute to the demand for inflatable marine life rafts over the next few years. Recreational sea sports are a growing trend across countries. For instance, the Great Barrier Reef, in Australia, is an attractive location for snorkeling and scuba diving.”
According to the report, one of the major drivers for this market is Growth in sea borne trade. The seaborne trade has been growing gradually compared with the past decade and this is expected to drive the demand for more shipbuilding propelling demand for inflatable marine life rafts which is one of the necessary safety equipment on a ship. The seaborne trade contributes hugely in economic expansion and economic growth of countries and their respective regions. The rise in economy of any region will enhance the global economy which will witness in increasing seaborne trade.
Further, the report states that one of the major factors hindering the growth of this market is Collapse of shipbuilding industry in China. There has been a downtrend in the shipbuilding industry in China since 2016. The fact that shipbuilding companies in country are refraining from taking new orders is one of the major reasons for the downtrend. Approximately, 60% of shipbuilding enterprises took no new orders in China in 2016. Some of the large shipbuilding enterprises, including Jiangsu Rongsheng, Shuntian Shipbuilding, Nantong Mingde, Zhejiang Zhenghe, and Zhejiang Shipbuilding, were dramatically influenced and even encountered bankruptcy.
LALIZAS, Plastimo, Survival products, VIKING LIFE-SAVING, Chongqing Guanheng Technology & Development, Jiaxing Rongsheng Lifesaving Equipment, Galvanisers India, Revere Survival, Winslow Life Raft, Zodiac Nautic, and Survitec Group.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook