Allied Market Research

2024

Personal Floatation Devices Market

Personal Floatation Devices Market Size, Share, Competitive Landscape and Trend Analysis Report by Product (Offshore Life Jacket, Near-shore Buoyant Vest, Flotation Aid, Throwable Devices, Special-use Devices), by Application (Passenger and Aircraft Crew, Commercial Vessels, Others), by Sales channel (Specialty stores, Company owned outlets, Online sales channels, Others) and by End-use (Aquaculture Industry, Oil Gas Industry, Naval Industry, Others (Water Tourism, etc.)): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Eswara Prasad
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A personal floatation device (PFD; also referred to as a life jacket, life preserver, life belt, Mae West, life vest, life saver, cork jacket, buoyancy aid or flotation suit) is a flotation device in the form of a vest or suite that is put on and helps to secure a user to prevent the wearer from drowning in a body of water. The device will keep the wearer afloat with his/her head and mouth above the surface – he/she does not have to swim or tread water in order to stay afloat and can even be unconscious. Unlike other flotation devices, a PFD is fastened to the user and does not need to be actively held onto; this prevents a wearer who is either in the water or sinking into the water from losing her grip on the flotation and in due course becoming drenched in the water leading to drowning. The buckling of the device also permits it to be comfortable when worn in the water and allows for wearer to swim or propel her/himself with all limbs. For all these reasons PFDs are the most common and widely used form of flotation device.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

 Segments Covered

  Product, Application, End Use, Sales Channel and Region

 

COVID-19 Impact analysis

At the start of 2021, COVID-19 disease began to spread around the world, millions of people worldwide were infected with COVID-19 disease, and major countries around the world have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most industries have been greatly impacted, and Personal Flotation Devices industries have been greatly affected. The COVID-19 pandemic has compelled significant fallout in the demand for personal flotation devices in the last few months. The lockdown and complete shutdown of public centers have restricted recreational activities and cross border travel and tourism. Nevertheless, major economies are now planning a step by step opening of various sectors with all the precaution measures and safety regulations.

Top Impacting Factors

Rising demand from government marine agency and coast guards are boosting the demand for global personal floatation devices market. The liability of coast guards includes safety of vessels, maintenance of sea-marks, and enforcement of maritime law, search and rescue. These life jackets are within easy reach to them in their boats and nearby places of work and include some additional features such as whistles, emergency lights, and others. Furthermore, increasing activities such as fishing, boating and water sports are also boosting the demand for personal floatation devices market.

Market Trends

  • Government laws and regulations concerning work safety in coastal regions and while using boats is anticipated to be the main driver of the personal flotation devices market. For instance, as per the U.S. Coast Guard and federal law, a recreational boat must have sanctioned life vests for each individual aboard.
  • Increasing consumer preference for recreational boating and water sports is expected to boost the demand for personal flotation devices (PFD).
  • Robust economic growth in major marine markets and the growing government investment in development of boating infrastructure are recognized as important factors contributing to the development of the PFD market.
  • Rising consumer understanding about the significance of personal flotation devices is the key market opportunity. 
  • In addition to this, consumers prefer quality products that meet the specific government standards.
  • Technological evolution and constant introduction of new water sports categories is anticipated to offer lucrative growth opportunities for the PFD market. 
  • Additionally, evolving lifestyles and increasing throwaway income in developing economies is likely to spurt the market demand during the forecast period.

Key Benefits of the Report

  • This study presents the analytical depiction of the personal flotation device industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the personal flotation device market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the personal flotation device market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed personal flotation device market analysis based on competitive intensity and how the competition will take shape in coming years.

Personal Floatation Devices Market Report Highlights

Aspects Details
Personal Floatation Devices Market By Product
By Product
  • Offshore Life Jacket
  • Near-shore Buoyant Vest
  • Flotation Aid
  • Throwable Devices
  • Special-use Devices
Personal Floatation Devices Market By Application
By Application
  • Passenger and Aircraft Crew
  • Commercial Vessels
    • Cargo Ships
    • Tugboats
    • Passenger Ferries
  • Others
Personal Floatation Devices Market By Sales channel
By Sales channel
  • Specialty stores
  • Company owned outlets
  • Online sales channels
  • Others
Personal Floatation Devices Market By End-use
By End-use
  • Aquaculture Industry
  • Oil & Gas Industry
  • Naval Industry
  • Others (Water Tourism, etc.)
Personal Floatation Devices Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Spain, Argentina, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, UAE, Turkey, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

Supreme in Safety Services, Aqua Lung International,, Johnson Outdoors Watercraft, Inc., International Safety Product Ltd., Marine Rescue Technologies Ltd.,, Erez Europe,, Galvanisers India,, The Coleman Company Inc., Absolute Outdoor Inc.,, United Moulders Limited, Kent Sporting Goods Co., Inc, Hutchwilco Ltd., National Marine Manufacturer Association,, LALIZAS, Hydrodynamic Industrial Co. Ltd,

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Personal Floatation Devices Market

Global Opportunity Analysis and Industry Forecast, 2023-2032