Global Personal Flotation Devices Market is valued approximately at USD 2.3 billion in 2018 and is anticipated to grow with a growth rate of more than 3.8% over the forecast period 2020-2026. A personal floatation devices (PFDs) or life vest are intended to be used as a support system for confirming safe floating over water. They are available in variety of shapes and sizes related to different body weight. It is a type of protective equipment, especially for safety while boating, water sports and for emergency conditions. These devices are light in weight and less compact than a lifejacket. Since they are usually filled with foam to keep people warm in water and heat is consistently dispersed around the body. These devices are also used to turn an unconscious person in the water to vertical or marginally reclining position. Also, it is used for fast rescue operation owing to its lightweight attribute. Increasing focus on preventing marine fatalities, escalating demand from government marine agency and coast guards and growing number of water sport activities around the world are the few factors responsible for high CAGR of the market over the forecast period. According to the Insurance Information Institute (III), globally, there were around 1,163 people who died due to marine accidents in 2017 and caused $197 million in insured loss. This, in turn, is expected to accelerate the demand of personal flotation devices all over the world. However, lack of awareness related to types of use and weight limit, along with the incomprehensible performance rating are some major factors likely to hinder the growth of global personal flotation devices market over the forecast period.
The regional analysis of global Personal Flotation Devices Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing water recreational activities, along with the rising concerns towards the establishment of innovative technology in coastal surveillance in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period, due to increased coastal surveillance applications and security threats from sea routes across the region.
Major market player included in this report are:
Coleman Company Inc.
National Marine Manufacturers Association
Absolute Outdoor Inc.
Aqua Lung International
Kent Sporting Goods Co., Inc.
International Safety Products Ltd.
Hydrodynamic Industrial Co. Ltd
Johnson Outdoors Watercraft, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Near-shore buoyant vest
Throw able device
Passenger and aircraft crew
Government & Military
Oil & Gas industry
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Personal Flotation Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers