South Korea Marine Inflatable Liferafts Market was valued at USD 0.10 Billion in 2022 and is projected to reach USD 0.20 Billion by 2030, growing at a CAGR of 7.80% from 2024 to 2030.
The South Korea Marine Inflatable Liferafts Market has been growing significantly over recent years, driven by an increasing focus on maritime safety and compliance with international regulations. With a heightened emphasis on safety across all sectors of the maritime industry, there is a rising demand for high-quality inflatable liferafts that can be relied upon in emergencies. These liferafts are critical for saving lives in the event of shipwrecks or maritime accidents, which is why industries ranging from commercial shipping to leisure boating are prioritizing their purchase.
The types of marine inflatable liferafts in the South Korean market vary depending on the needs of specific industries. The most common types include open liferafts, which are suitable for larger vessels, and closed liferafts, which provide more protection and are often preferred in harsher conditions. Moreover, the market has seen innovations like self-righting liferafts and enhanced design features that improve overall safety and usability. These liferafts are typically constructed from durable, high-quality materials like neoprene and polyurethane, ensuring they are long-lasting and can withstand harsh marine environments.
Industrial demand for marine inflatable liferafts has escalated across various sectors. The commercial shipping industry, which faces strict international maritime regulations, is one of the largest buyers of these safety devices. Additionally, the fishing and leisure boat industries are also significant consumers, driven by the necessity to comply with safety regulations and protect crew members and passengers alike. In recent years, the South Korean government has also introduced regulations that demand higher standards of safety equipment, further boosting the demand for high-performance liferafts.
Another important factor influencing the demand for marine inflatable liferafts is the increasing awareness of maritime safety in South Korea. As the country continues to expand its shipping capabilities and promote tourism, ensuring the safety of maritime passengers and crew is of paramount importance. Furthermore, with technological advancements such as GPS tracking and advanced inflation systems, marine inflatable liferafts are becoming more reliable and accessible to various industries.
The South Korea Marine Inflatable Liferafts Market is also seeing a shift towards eco-friendly options, with manufacturers focusing on producing liferafts that are more sustainable and environmentally friendly. This aligns with the global trend towards sustainability in the maritime industry, where eco-consciousness is becoming a priority for both consumers and regulatory bodies.
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Seasafe Systems
Viking Life
Switlik
Winslow Marine Life Rafts
LALIZAS
AVI Aviation
Revere Survival Products
Canepa & Campi
Crewsaver
Survitec Group
SRG International
Survitec Zodiac
Datrex
Eurovinil
HERO LIFESAVING EQUIPMENT
Shanghai Youlong Rubber Products
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Marine Inflatable Liferafts Market
Standard Liferafts
Rescue Liferafts
Offshore Liferafts
Coastal Liferafts
Commercial Liferafts
Inflatable Liferaft
Compact Liferaft
Hyper-inflatable Liferaft
Custom-configured Liferaft
Marine Industry
Commercial Shipping
Leisure and Recreational Boating
Military and Defense
Oil & Gas Industry
4-Person Liferafts
6-Person Liferafts
8-Person Liferafts
10-Person Liferafts
More than 10-Person Liferafts
Shipping Companies
Fishing Vessels
Tourism and Cruise Operators
Private Boat Owners
Government and Military
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Marine Inflatable Liferafts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Marine Inflatable Liferafts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Marine Inflatable Liferafts Market, By Type
6. South Korea Marine Inflatable Liferafts Market, By Application
7. South Korea Marine Inflatable Liferafts Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Marine Inflatable Liferafts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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