IMARC Group, a leading market research company, has recently releases report titled “Personal Flotation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,”  The study provides a detailed analysis of the industry, including the global personal flotation devices market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the personal flotation devices market?

The global personal flotation devices market size reached US$ 5.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.57% during 2024-2032.

Factors Affecting the Growth of the Personal Flotation Devices Industry:

Increasing Awareness About Water Safety

The rising awareness about water safety is a significant driver for the global personal flotation devices market. As more individuals become informed about the dangers associated with water activities, there is a growing emphasis on using safety equipment like flotation devices. This awareness is fueled by various initiatives from governmental bodies, non-governmental organizations, and safety advocacy groups that actively promote water safety measures. Campaigns aimed at educating the public about the importance of life jackets and similar devices are becoming more prevalent, especially in regions with a high incidence of water-related accidents. Additionally, tragic incidents and near-drowning experiences shared in the media are increasing public consciousness about the necessity of flotation devices, particularly for children and inexperienced swimmers.  

Rising Participation in Recreational Water Activities

The global market for personal flotation devices is experiencing growth driven by the rising participation in recreational water activities. As leisure activities like boating, kayaking, paddleboarding, and fishing gain popularity, there is an increasing demand for safety gear, including flotation devices. The surge in outdoor recreational activities is partly due to the growing interest in health and wellness, as individuals seek out active, nature-based pastimes. Additionally, the proliferation of tourism focused on water-based experiences, particularly in coastal and lake regions, has led to a higher demand for personal flotation devices.  

Stringent Government Regulations and Safety Standards

Stringent government regulations and safety standards are a crucial factor driving the demand for personal flotation devices. In many countries, laws have been enacted that mandate the use of life jackets and other flotation devices in various watercraft, including boats, jet skis, and kayaks. These regulations are designed to enhance safety and reduce the risk of drowning, particularly in commercial and recreational vessels. Compliance with these laws is often enforced through regular inspections, fines, and penalties, compelling both operators and individuals to adhere to safety requirements. 

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Personal Flotation Devices Market Report Segmentation:

Market Breakup by Product:

  • Offshore Life Jacket
  • Near-shore Buoyant Vest
  • Flotation Aid
  • Throwable Devices
  • Special-use Devices

Near-shore buoyant vests are widely used for their effectiveness in calm waters, making them the preferred choice for various water activities.

Market Breakup by Application:

  • Passenger and Aircraft Crew
  • Commercial Vessels
    • Cargo Ships
    • Tugboats
    • Passenger Ferries
  • Others

Commercial vessels are subject to stringent safety regulations, requiring mandatory use of personal flotation devices, thereby driving demand in this segment.

Market Breakup by Sales Channel:

  • Specialty Stores
  • Company Owned Outlets
  • Online Sales Channels
  • Others

Specialty stores offer a wide range of high-quality and certified flotation devices, attracting consumers seeking reliable safety equipment.

Market Breakup by End User:

  • Aquaculture Industry
  • Oil and Gas Industry
  • Naval Industry
  • Others

The oil and gas industry operates in high-risk offshore environments, necessitating the use of advanced personal flotation devices for worker safety.

Breakup By Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America's extensive coastline, strong recreational boating culture, and strict safety regulations contribute to its leadership in the personal flotation devices market.

Global Personal Flotation Devices Market Trends:

The global personal flotation devices market is expanding due to various factors, such as the increasing awareness about water safety is driving the demand for personal flotation devices, as more people recognize their importance in preventing drowning incidents. Moreover, rising participation in recreational water activities, such as boating, kayaking, and fishing, is boosting the market, as these activities often require the use of flotation devices. Additionally, stringent government regulations and safety standards are mandating the use of personal flotation devices in commercial and recreational vessels, further propelling market growth.  

Who are the key players operating in the industry?

The report covers the major market players including:

  • Absolute Outdoor Inc.
  • Aqua Lung International
  • Galvanisers India
  • Hutchwilco Limited
  • Hydrodynamic Industrial Co. Ltd.
  • Johnson Outdoors Inc.
  • LALIZAS
  • Marine Rescue Technologies (Wescom Group)

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