Personal Flotation Device Market
Personal Flotation Device Market Size, Share & Trends Analysis Report, By Product (Offshore Life Jacket, Near-Shore Buoyant Vest, Flotation Aid, Throwable Devices, and Special-Use Devices), By End-User (Aquaculture Industry, Oil & Gas Industry, Naval Industry, and Others), By Distribution Channel (Specialty Stores, Company-Owned Outlets, and Online Channels), Forecast Period (2022-2028)
Personal flotation device market is anticipated to grow at a CAGR of 4.5% during the forecast period. One of the key factors that are fuelling the market growth is the government laws and regulations about work protection in coastal areas and while using boats. For instance, as per the US Coast Guard and federal law, a recreational ship must contain life vests for each present on the board. Moreover, as per California law, every under 13 years old child on a moving recreational container of any length must wear a life jacket approved by the Coast Guard in serviceable condition and of a size and type appropriate for the activity and the conditions. This has necessitated the use of personal flotation devices.
Segmental Outlook
The global personal flotation device market is segmented based on the product, end-user, and distribution channel. Based on the product, the market is segmented into offshore life jackets, near-shore buoyant vests, flotation aid, throwable devices, and special-use devices. Based on the end-user, the market is segmented into the aquaculture industry, oil & gas industry, naval industry, and others. Based on the distribution channel, the market is segmented into specialty stores, company-owned outlets, and online channels. The above-mentioned segments can be customized as per the requirements. Based on product, an off-shore life jacket is anticipated to grow significantly in the market owing to its high use in commercial boats, while, based on distribution channel, specialty stores are anticipated to hold a prominent share during the forecast period owing to the high availability of these stores.
Based on the product, an off-shore life jacket is anticipated to grow significantly in the market during the forecast period. Off-shore life jackets are normally used in commercial boats, and these jackets are designed for turning an unconscious person in the water to a vertical or slightly reclining position. Its high usability has increased its demand in the market which has increased market players' participation. For instance, in August 2021, Viking, a safety equipment firm, launched a new lifejacket for the wind energy and oil & gas market. These inflatable lifejackets were named "VIKING YouSafe Vanguard”, and were developed to meet (275N) offshore industry standards. The new lifejacket was approved by SOLAS/MED and CE/ISO-accredited.
Regional Outlook
The global personal flotation device market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America region is anticipated to hold a prominent share in the market owing to the existing uptrend in the domestic boating industry, while, the Asia-Pacific region is anticipated to grow at a high rate during the forecast period owing to enlarged coastal security threats from sea routes.
Global Personal Flotation Device Market Growth, by Region 2022-2028
North America Region Holds Prominent Share in the Global Personal Flotation Device Market
North America region is anticipated to hold a prominent share in the market owing to the existing uptrend in the domestic boating industry in the region. People are electing to do more watersports in their country rather than in other countries. Such an ongoing trend has been boosting the demand for boats, and other equipment such as personal flotation devices, domestically. As per the National Marine Manufacturers Association (NMMA), retail unit sales of new powerboats in the US exceeded units of 300,000 for 2 consecutive years throughout 2020 and 2021. Moreover, NMMA has publicized that the year 2022 will be positive, and an increase in the sales volume of new boats may occur by 3% as compared to 2021. Additionally, as per the US Bureau of Economic Analysis (BEA) in November 2020, each year, nearly 100 million Americans do boating. Outdoor recreation made up around 2.1% of the US GDP and created $788 billion in real gross output. Fishing and boating are the leading outdoor recreation activities in the country, totaling near to $23.6 billion.
Market Players Outlook
The major companies serving the global personal flotation device market include Helly Hansen AS, Johnson Outdoors Inc., Kent Water Sports, LLC (Onyx), Marine Rescue Technologies, and Newell Brands, Inc. (The Coleman Company Inc.). The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2020, Seasafe Systems Ltd, a marine safety equipment UK-based company, introduced “The Junior 150N Lifejacket,” a new line of life vests for kids.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global personal flotation device market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Helly Hansen AS
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Johnson Outdoors Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Kent Water Sports, LLC (Onyx)
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Marine Rescue Technologies
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Newell Brands, Inc. (The Coleman Company Inc.)
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Personal Flotation Devices Market by Product
4.1.1. Offshore Life Jacket
4.1.2. Near-Shore Buoyant Vest
4.1.3. Flotation Aid
4.1.4. Throwable Devices
4.1.5. Special-Use Devices
4.2. Global Personal Flotation Devices Market by End-User
4.2.1. Aquaculture Industry
4.2.2. Oil & Gas Industry
4.2.3. Naval Industry
4.2.4. Others (Water Tourism)
4.3. Global Personal Flotation Devices Market by Distribution Channel
4.3.1. Specialty Stores
4.3.2. Company Owned Outlets
4.3.3. Online Channels
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Absolute Outdoor, Inc.
6.2. EREZ Thermoplastic Products
6.3. Galvanisers India
6.4. Ganesh Manufacturing
6.5. Grand Ocean Marine Co., Ltd.
6.6. Hutchwilco Ltd.
6.7. Kibo Software, Inc.
6.8. LALIZAS Group
6.9. National Marine Manufacturers Association, Inc. (NMMA)
6.10. Stormy Lifejackets Pty Ltd.
1. GLOBAL PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
2. GLOBAL OFFSHORE LIFE JACKET MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL NEAR-SHORE BUOYANT VEST MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL FLOTATION AID MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL THROWABLE DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL SPECIAL-USE DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
8. GLOBAL PERSONAL FLOTATION DEVICES IN AQUACULTURE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL PERSONAL FLOTATION DEVICES IN OIL & GAS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL PERSONAL FLOTATION DEVICES IN NAVAL INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL PERSONAL FLOTATION DEVICES IN OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
13. GLOBAL PERSONAL FLOTATION DEVICES FROM SPECIALTY STORES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL PERSONAL FLOTATION DEVICES FROM COMPANY OWNED OUTLETS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL PERSONAL FLOTATION DEVICES FROM ONLINE CHANNELS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. NORTH AMERICAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
19. NORTH AMERICAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
20. NORTH AMERICAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
21. EUROPEAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. EUROPEAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
23. EUROPEAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
24. EUROPEAN PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
29. REST OF THE WORLD PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
30. REST OF THE WORLD PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
31. REST OF THE WORLD PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
32. REST OF THE WORLD PERSONAL FLOTATION DEVICES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. GLOBAL PERSONAL FLOTATION DEVICES MARKET SHARE BY PRODUCT, 2021 VS 2028 (%)
2. GLOBAL OFFSHORE LIFE JACKET MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
3. GLOBAL NEAR-SHORE BUOYANT VEST MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
4. GLOBAL FLOTATION AID MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
5. GLOBAL THROWABLE DEVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL SPECIAL-USE DEVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL PERSONAL FLOTATION DEVICES MARKET SHARE BY END-USER, 2021 VS 2028 (%)
8. GLOBAL PERSONAL FLOTATION DEVICES IN AQUACULTURE INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL PERSONAL FLOTATION DEVICES IN OIL & GAS INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL PERSONAL FLOTATION DEVICES IN NAVAL INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL PERSONAL FLOTATION DEVICES IN OTHER END-USERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL PERSONAL FLOTATION DEVICES MARKET SHARE BY END-USER, 2021 VS 2028 (%)
13. GLOBAL PERSONAL FLOTATION DEVICES FROM SPECIALTY STORES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL PERSONAL FLOTATION DEVICES FROM COMPANY OWNED OUTLETS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL PERSONAL FLOTATION DEVICES FROM ONLINE CHANNELS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL PERSONAL FLOTATION DEVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. US PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
18. CANADA PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
19. UK PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
21. GERMANY PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
22. ITALY PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
23. SPAIN PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF EUROPE PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
25. INDIA PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
26. CHINA PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
27. JAPAN PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
28. SOUTH KOREA PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF ASIA-PACIFIC PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD PERSONAL FLOTATION DEVICES MARKET SIZE, 2021-2028 ($ MILLION)
