According to the report by Expert Market Research (EMR), the personal flotation devices market size reached a value of USD 6.56 billion in 2023. Aided by the increasing awareness about water safety and the rising popularity of water-based recreational activities, the market is projected to further grow at a CAGR of 3.3% between 2024 and 2032 to reach a value of USD 8.76 billion by 2032.
Personal flotation devices, also known as life jackets or life vests, are critical safety equipment designed to provide buoyancy and keep the wearer afloat in water. They are essential for various activities, including boating, fishing, swimming, and water sports. Personal flotation devices are also a key safety requirement in commercial and military maritime operations.
The personal flotation devices market growth is driven by factors like the increasing emphasis on water safety regulations and the mandatory use of life jackets in many countries. Governments and maritime authorities worldwide are implementing stricter safety regulations to prevent drowning incidents, which, in turn, is boosting the demand for personal flotation devices.
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The rising popularity of water-based recreational activities, such as boating, kayaking, and paddleboarding, is another significant factor contributing to the market growth. As more people engage in these activities, the personal flotation devices market demand continues to rise. Additionally, the growing awareness of the importance of water safety among consumers is leading to higher adoption rates of personal flotation devices.
Furthermore, technological advancements in materials and design are also playing a crucial role in the market’s expansion. Manufacturers are focusing on developing more comfortable, lightweight, and effective personal flotation devices, which are appealing to a broader range of users. Innovations such as inflatable life jackets and advanced materials that offer better buoyancy and durability are gaining popularity among consumers.
As per the personal flotation devices market analysis, North America is a leading market for personal flotation devices, driven by stringent safety regulations and a high participation rate in water-based recreational activities. Europe follows closely, with similar factors contributing to its market growth. The Asia Pacific region is expected to witness the fastest growth in the coming years, fuelled by increasing awareness of water safety and a growing middle-class population engaging in recreational water activities.
Moreover, sustainability is becoming a key trend in the market, with manufacturers focusing on eco-friendly materials and production processes. The use of recycled materials and biodegradable components is gaining momentum, catering to the growing consumer demand for environmentally sustainable products. This is leading to the personal flotation devices market development.
Global Personal Flotation Devices Market Segmentation
The market can be divided based on the product, application, distribution channel, and region.
Market Breakup by Product
- Offshore Life Jacket
- Near-Shore Buoyant Vest
- Flotation Aid
- Throwable Devices
- Special-Use Devices
Market Breakup by Application
- Passenger and Aircraft Crew
- Water Sports
- Commercial Vessels
- Government and Military
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Global Personal Flotation Devices Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global personal flotation devices market. Some of the major players explored in the report by Expert Market Research are as follows:
- Astral Buoyancy Company
- Mustang Survival Corp.
- Aqualung Group
- Kokatat, Inc.
- Rescue Technology
- Absolute Outdoor of America, LLC
- Confluence Kayaks
- LALIZAS Group
- Spinlock Limited
- Others
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