USD 2.9 billion
Personal Floatation Devices Market Size, Share, Growth Analysis, By Product(Offshore Life Jacket, Near-shore Buoyant Vest, Flotation Aid, Throwable Devices), By Application(Passenger, Aircraft Crew, Commercial Vessels (Cargo Ships, Tugboats), By Actuation(Manually activated, automatically activated. Based on the End Use into the Aquaculture industry, Oil & Gas industry, Naval industry), By End use(Aquaculture industry, Oil & Gas industry, Naval industry, other industry), By Sales Channel(Sports Outlets, Franchised Sports Outlet, Modern Trade Channels, Direct to Customer Br), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2067 |
Region:
Global |
Published Date: February, 2024
Pages:
213
|Tables:
158
|Figures:
78
Personal Floatation Devices Market Insights
Personal Floatation Devices Market size was valued at USD 2.9 billion in 2019 and is poised to grow from USD 3.17 billion in 2023 to USD 7.5 billion by 2031, growing at a CAGR of 13.06% in the forecast period (2024-2031).
The personal floatation devices (PFD) market is expected to experience robust expansion due to technological development and the introduction of new water sports categories. Besides, the technological advances such as inflatable PFDs integrated with lights and other safety features are getting incorporated into the mainstream maritime business.
The growing focus on reducing maritime mortality has greatly boosted the adoption of personal flotation devices. The safety protocols imposed by the local authorities at coastal areas facilitate personal flotation devices and safety equipment before entering deep waters in coastal areas. These factors have encouraged the use of PFDs to a very large extent.
Additionally, factors including the increased involvement and enrolments in water sports and water recreational activities, as well as the growing number of swimming pools and water sports venues, are all favourably influencing the growth trajectory.
US Personal Floatation Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
oil & gas
Fastest Growth
Product
Growth Rate
13.06% CAGR
Global Personal Floatation Devices Market ($ Bn)
Country Share for NA and AP Region (%)
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Personal Floatation Devices Market Segmental Analysis
Personal Floatation Devices Market is segmented based on the product, application, actuation, end user, sales channel, and region. Based on product, the market is segmented into offshore life jacket, near-shore buoyant vest, flotation aid, throwable devices, special-use devices.
Based on the application personal floatation devices market into passenger and aircraft crew, commercial vessels (cargo ships, tugboats, passenger ferries), government & military, water sports. Based on actuation, the market segmentation comprises manually activated, automatically activated. Based on end-use the market segmentation comprises aquaculture industry, oil & gas industry, naval industry, and other industry.
Personal Floatation Devices Market Analysis by End User
The oil and gas industry dominates the end-use vertical and will hold the largest market share of the global personal flotation devices market because it depends so heavily on maritime trade for transportation. Sea businesses also promote the use of personal floatation devices to reduce the dangers associated with workers safety while working in open seas.
Personal Floatation Devices Market Analysis by Application
The near-shore buoyant vest sub-segment is a larger contributor due to its lightweight features and fast rescue operations. It is widely used in recreational boating as well, which is very popular right now. The sub-segment has a higher market share than the overall market due to the advantages listed above throughout the evaluation period.
Global Personal Floatation Devices Market By Application
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Personal Floatation Devices Market Regional Insights
North America enjoys a monopolistic position in the personal flotation device sector as a result of high population to participate in thrilling water sports. People of various ages, including seniors, have been participating in deep water sports for the thrill and adventure. The US continues to grab a huge share in personal floatation device industry due to the wider availability of coastal lines and mandate safety protocols for divers. The relatively large number of boat fleets and boat owners also continues to supplement demand.
An increasing disposable income is expected to enable Asia Pacific to emerge and occupy a large market share. Owing to the high proportion of explorers willing to spend more on adventure sports, the market is able to suffice to the growing demands of the industry.
Global Personal Floatation Devices Market By Region
- Largest
- Fastest
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Personal Floatation Devices Market Dynamics
Personal Floatation Devices Market Drivers
Improved Infrastructure and Increase in Purchasing Power to Boost Market Growth
- Main drivers of the growth of the PFD industry have been identified as strong economic growth in crucial marine markets and rising public expenditure in the construction of boating infrastructure.
- The increase in life monotony and increased disposable income have both contributed to an increase in global tourism growth. The population's interest in aquatic adventure tourism is increasing due to rising purchasing power, which is favorably affecting the market's expansion.
Personal Floatation Devices Market Restraints
Lack of Awareness and Seasonal Demand to Impact the Market Growth
- The global market for personal flotation devices may be restricted by a lack of awareness regarding several uses, weight limits, and life jacket fit.
- Seasonal demand to impact the market growth as the demand for PFD highly occurs during summers. Manufacturers can find this challenging to sustain business cycles throughout the year.
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Personal Floatation Devices Market Competitive Landscape
To understand the competitive landscape, we are analysing key Personal Flotation Devices Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the industry.
To validate our hypothesis and validate our findings on the market ecosystem, we have conducted a detailed porter’s five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force follows a step-by-step analysis governing those forces.
Personal Floatation Devices Market Top Player's Company Profiles
- Survitec Group Limited
- Mustang Survival Corp.
- Johnson Outdoors Inc.
- The Coleman Company, Inc.
- Kent Sporting Goods Company, Inc.
- MTI Life Jackets
- Astral Buoyancy Company
- Aqua Lung International S.A.
- Kokatat, Inc.
- NRS (Northwest River Supplies)
- Stohlquist WaterWare
- Harmony Gear
- Salus Marine Wear Inc.
- O'Neill Wetsuits, LLC
- Mustang Survival Corp.
- Stearns, Inc.
- Extrasport
- Plastimo SAS
- International Safety Products
- Viking Life-Saving Equipment A/S.
Personal Floatation Devices Market Recent Developments
- In March 2022, LALIZAS, the leading manufacturer of lifesaving equipment, has revealed a new catalogue that provides a total safety solution. This will help the company maintain or develop its customer base.
- In July 2022, The U.K.-based company Sea safe Systems Ltd, which specialises in marine safety equipment, has unveiled a new line of life jackets for kids named "The Junior 150N Lifejacket."
Personal Floatation Devices Key Market Trends
- Sustainable Business Models and IoT enabled Supply Chains to Shape the Future of Personal Floatation Devices Market: In the global market for personal flotation devices, sustainable business models and IoT enabled supply chains are adding to the industry growth. For sales and marketing, online distribution platforms are becoming more popular. Additionally, businesses are putting a lot of effort into alliances and collaboration with local suppliers in order to grow internationally.
- Change In Lifestyle and Increase in Disposable Income: The continued development of new types of water activities and technical developments are projected to be favourable for the PFD industry. In addition, during the course of forecast period, changing lifestyles and rising disposable income are anticipated to increase the market demand.
Personal Floatation Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
For global personal floatation devices market report analysis, SkyQuest analysts have conducted a risk analysis to understand the impact of external extremities on the market. The market has lucrative opportunities in the future as sports activities are becoming increasingly popular. Development in marine infrastructure will further propel market growth and players with added advantages.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.9 billion |
| Market size value in 2031 | USD 7.5 billion |
| Growth Rate | 13.06% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Personal Floatation Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Personal Floatation Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Personal Floatation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Personal Floatation Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Personal Floatation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Personal Floatation Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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