The ‘Global Personal Flotation Devices Market Size, Share, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global personal flotation devices market, assessing the market on the basis of its segments like product, application, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Personal Flotation Devices Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 6.35 billion
- Forecast CAGR (2023-2028): 3.30%
- Forecast Market Size (2028): USD 7.69 billion
The rapidly rising popularity of various water sports and water-based tourism worldwide and increasing awareness regarding the importance of water safety are the key driving factors of the global personal flotation devices market. Various water-based activities such as water skiing, river rafting, canoeing, and kayaking require the usage of personal floatation devices (PFDs) to ensure safety during these activities. Specific personal floatation devices are also available for targeted activities, thereby extending the applications of the personal flotation devices market. Particularly in water bodies with heavy currents such as oceans, the usage of personal floatation devices is encouraged as even capable swimmers may be swept away by strong currents.
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Increasing focus of various governments on reducing water fatalities and providing improved safety to workers are resulting in heightened adoption of personal floatation devices in government and military and commercial vessel applications. Development of lightweight personal floatation devices and those equipped with advanced buoyancy technologies are further anticipated to offer lucrative opportunities to the personal flotation devices market growth. Lightweight PFDs are more convenient to carry and transport and offer greater comfort to wearers without restricting movement. Investments in maritime markets and boating infrastructure are surging activities on major water bodies, resulting in a rising demand for reliable personal floatation devices.
Personal Flotation Devices Industry Definition and Major Segments
Personal floatation devices or PFD are gear that provide additional buoyancy to the wearer, helping prevent drowning by providing aid in remaining afloat. Depending upon the activity, type of water exposure, and swimming ability of the wearer, personal floatation devices are available in various formats. Personal floatation devices can be worn directly or can be thrown to someone already in the water.
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Based on product, the market is divided into:
- Offshore Life Jacket
- Near-Shore Buoyant Vest
- Flotation Aid
- Throwable Devices
- Special-Use Devices
On the basis of application, the market is classified into:
- Passenger and Aircraft Crew
- Water Sports
- Commercial Vessels
- Government and Military
By distribution channel, the market is bifurcated into:
- Online
- Offline
Based on region, the market is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Personal Flotation Devices Market Trends
A key trend influencing the personal flotation devices market is the rising demand for these devices among the general public. While previously, personal floatation devices were commonly available in commercial settings and offered by organisers of water sports, more consumers are directly investing in PFDs for personal usage. These devices are helpful for users who don’t know swimming, have limited swimming skills, or venture in open waters. Personal floatation devices offer significant safety and protection against drowning and increasing user friendliness of these devices are motivating more users to purchase them.
Online distribution channels are witnessing significant growth in the personal flotation devices market as they offer a wide range of options to suit different needs. As personal floatation devices may be a new purchase for many general users, availability of extensive reviews and demonstrations online can aid users in buying a suitable personal flotation device. Meanwhile, for commercial users, buying personal floatation devices online in bulk volumes offers greater cost-savings and easy shipment and delivery.
At a regional level, North America is assessed to witness rapid growth in the global market for personal floatation devices in the coming years, fuelled by the rising popularity of boating, fishing, and various water sports. The vast coastline in the region and increasing awareness regarding the advantages of personal floatation devices are further aiding the regional market growth.
Key Market Players
The major players in the global personal flotation devices market report are:
- Astral Buoyancy Company
- Mustang Survival Corp.
- Aqualung Group
- Mustang Survival Corp.
- Aqualung Group
- Kokatat, Inc.
- Rescue Technology
- Absolute Outdoor of America, LLC
- Confluence Kayaks
- LALIZAS Group
- Spinlock Limited
- Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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