What is the Global market size of the Personal Floatation Devices Market?

Global Personal Floatation Devices Market size was valued at USD 2.9 billion in 2021 and is poised to grow from USD 3.17 billion in 2022 to USD 7.5 billion by 2030, growing at a CAGR of 13.06% in the forecast period (2023-2030).

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 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.

Personal Floatation Devices Market Report Snapshots

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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).

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. '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.'

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.

Sustainable Business Models and IoT enabled Supply Chains to Shape the Future of Personal Floatation Devices Market: In the 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.

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.

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Personal Floatation Devices Market Dynamics

Personal Floatation Devices Market Report Snapshots

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