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Personal Flotation Devices Market

Personal Flotation Devices Market

Personal Flotation Devices Market Global Industry Assessment & Forecast

# Pages:

170

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0543

Segments Covered
  • By Product Offshore Life Jacket, Near-shore Buoyant Vest, Flotation Aid, Throwable Devices, Special-use Devices
  • By End use verticals Aquaculture Industry, Oil & Gas Industry, Naval Industry, Others
  • By Application Passenger and Aircraft Crew, Commercial Vessels, Government & Military, Water Sports
  • By Online, Offline
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 5.9 Billion
Revenue 2028Revenue 2028: 7.53 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 3.10%
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Personal Flotation Devices market was valued at USD 5.9 Billion in 2020 and is projected to reach USD 7.53 Billion by 2028, growing at a CAGR of 3.10%% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 7.53 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 3.10%%

Definition And Overview

A personal flotation device also referred to as a life jacket, is a flotation device in the form of a vest or suite that is put on and fastened to a user to prevent the wearer from drowning in a body of water or falling into the water from losing the grip. They are the most important part of safety equipment on the boat.


The global Personal Flotation Devices market is segmented based on by Product, End use verticals, Regions, and Countries. This report provides an analysis of the global Personal Flotation Devices market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Personal Flotation Devices industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 5.9 Billion 7.53 Billion

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose stringent lockdown measures during the primary stages. This led to numerous challenges owing to the supply chain. However, the market witnessed steady growth over the later stages as the governments lifted restrictions on construction activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The implementation of stringent laws and regulations by the government is anticipated to augment the growth of the personal flotation devices market over the forecast period. This is due to the work safety concerns in the coastal regions while using boats. For example, a recreational boat must have approved life vests for each individual aboard according to U.S. Coast Guard and federal law.

The increasing consumer inclination for recreational boating and water sports is expected to propel the growth of the personal flotation devices market in the upcoming years. This is attributable to the growing numerous boating events and shows that are hosted in various parts of the world. The rising demand for recreational boating in countries such as Japan, China, and Australia, is further supporting the growth of the personal flotation devices market.

The lack of awareness about the types of personal flotation devices, life jacket size and fit, its weight capacity and performance rating may hamper the global personal floatation devices market. It is significant to know by the customers the differences between the types of life jackets and life vests since each one has its own specific purpose. Moreover, the personal floatation devices are categorised with a "Type" and a descriptive name, which can be helpful to the customer to select the appropriate PFD for their chosen activity.

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, End use verticals, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered LALIZAS, Kokatat, International Safety Product Ltd., Erez Europe, GALVANISERS INDIA, United Moulders Limited, Survitec Group Limited, Marine Rescue Technologies Ltd., Hutchwilco Ltd., ABSOLUTE OUTDOOR INC., Astral, NRS (Northwest River Supplies), Hydrodynamic Industrial Co. Ltd, Mustang Survival.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Product Analysis Preview

Product Analysis: Preview

On the basis of Product, the market is segmented into Offshore Life Jacket,Near-shore Buoyant Vest, Flotation Aid, Throwable Devices, Special-use Devices. Offshore Life Jacket held the highest share in the global Personal Flotation Devices market and is projected to witness the same trend during the forecast period. Companies in this sector are opting to advanced technologies in their supply chain to cater the end user requirements effectively.

End use verticals Analysis: Preview

Based on End use verticals, the market is segmented into Aquaculture Industry, Oil & Gas Industry, Naval Industry, Others. accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Personal Flotation Devices Market: Product Segment Analysis

    • Offshore Life Jacket
    • Near-shore Buoyant Vest
    • Flotation Aid
    • Throwable Devices
    • Special-use Devices

Global Personal Flotation Devices Market: End use verticals Segment Analysis

    • Aquaculture Industry
    • Oil & Gas Industry
    • Naval Industry
    • Others

Global Personal Flotation Devices Market: Application Segment Analysis

    • Passenger and Aircraft Crew
    • Commercial Vessels
    • Government & Military
    • Water Sports

Global Personal Flotation Devices Market: Segment Analysis

    • Online
    • Offline

Regional Analysis Preview

Based on region, the global Personal Flotation Devices market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. Developing economies in the Asia Pacific region such as China and India are expected to make notable contributions in the growth over the coming years. Thus, it is expected that the Personal Flotation Devices market is anticipated to rise over the forecast timespan.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Personal Flotation Devices Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Personal Flotation Devices market are LALIZAS, Kokatat, International Safety Product Ltd., Erez Europe, GALVANISERS INDIA, United Moulders Limited, Survitec Group Limited, Marine Rescue Technologies Ltd., Hutchwilco Ltd., ABSOLUTE OUTDOOR INC., Astral, NRS (Northwest River Supplies), Hydrodynamic Industrial Co. Ltd, Mustang Survival.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Global Personal Flotation Devices Market: Key Highlights

  • The global Personal Flotation Devices market was valued at USD 5.9 Billion in 2020
  • The global Personal Flotation Devices Market is projected to reach USD 7.53 Billion by 2028
  • North America held the highest share of the Personal Flotation Devices market in 2020
  • Some of the major companies operating in the Personal Flotation Devices market are LALIZAS, Kokatat, International Safety Product Ltd., Erez Europe, GALVANISERS INDIA, United Moulders Limited, Survitec Group Limited, Marine Rescue Technologies Ltd., Hutchwilco Ltd., ABSOLUTE OUTDOOR INC., Astral, NRS (Northwest River Supplies), Hydrodynamic Industrial Co. Ltd, Mustang Survival.

FAQ
Frequently Asked Question
  • The global Personal Flotation Devices valued at 5.9 Billion in 2020 and is expected to reach 7.53 Billion in 2028 growing at a CAGR of 3.10%%.

  • The prominent players in the market are LALIZAS, Kokatat, International Safety Product Ltd., Erez Europe, GALVANISERS INDIA, United Moulders Limited, Survitec Group Limited, Marine Rescue Technologies Ltd., Hutchwilco Ltd., ABSOLUTE OUTDOOR INC., Astral, NRS (Northwest River Supplies), Hydrodynamic Industrial Co. Ltd, Mustang Survival..

  • The market is project to grow at a CAGR of 3.10%% between 2021 and 2028.

  • The driving factors of the Personal Flotation Devices include

    • The implementation of stringent laws and regulations by the government is anticipated to augment the growth of the personal flotation devices market over the forecast period. This is due to the work safety concerns in the coastal regions while using boats. For example, a recreational boat must have approved life vests for each individual aboard according to U.S. Coast Guard and federal law.
    • The increasing consumer inclination for recreational boating and water sports is expected to propel the growth of the personal flotation devices market in the upcoming years. This is attributable to the growing numerous boating events and shows that are hosted in various parts of the world. The rising demand for recreational boating in countries such as Japan, China, and Australia, is further supporting the growth of the personal flotation devices market.

  • North America was the leading regional segment of the Personal Flotation Devices in 2020.