Personal Flotation Devices Market: Introduction
A personal flotation device, also known as life jacket, is used as a life saving device in water activities. It is the most important safety equipment for deck suits, canoeing/kayaking, boardsailing, in work vests for commercial vessels, and in ‘man overboard’ situations. Five common types of personal flotation devices (PFD) are available, including Type I PFD, Type II PFD, Type III PFD, Type IV PFD, and Type V PFD. Type I devices are suitable for Open Ocean, remote water, and commercial vessels.
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Key Drivers of the Global Personal Flotation Devices Market
- Government laws and regulations regarding work safety in coastal regions and while using boats is anticipated to be the key driver of the personal flotation devices market. For instance, as per the U.S. Coast Guard and federal law, a recreational boat must have approved life vests for each individual aboard.
- Growing consumer preference for recreational boating and water sports is expected to drive the demand for personal flotation devices (PFD).
- Robust economic growth in major marine markets and the growing government investment in advancement of boating infrastructure are identified as important factors contributing to the development of the PFD market.
Opportunities in the Global Personal Flotation Devices Market
- Increasing consumer awareness about the importance of personal flotation devices is the key market opportunity. Moreover, consumers prefer quality products that meet the specific government standards.
- Technological advancement and continuous introduction of new water sports categories is expected to offer lucrative growth opportunities for the PFD market. Additionally, evolving lifestyles and increasing disposable income in developing economies is likely to boost the market demand during the forecast period.
Key Companies in the Global Personal Flotation Devices Market
Key industry players are investing in new product development and novel raw materials. Sustainable business models and IoT enabled supply chains are key business strategies in the global personal flotation devices market. Online distribution channels are increasingly preferred for sales and marketing. Moreover, companies are focusing on collaboration and partnerships with regional suppliers to expand in the international market.
In April 2024, Seasafe Systems Ltd, a U.K. based company specializing in marine safety equipment launched “The Junior 150N Lifejacket,” a new line of life vests for kids.
Some of the key companies identified in the global personal flotation devices market are:
- The Coleman Company Inc.
- Absolute Outdoor Inc.
- Marine Rescue Technologies Ltd.
- Aqua Lung International
- National Marine Manufacturer Association
- Erez Europe
- Kent Sporting Goods Co., Inc.
- LALIZAS
- International Safety Product Ltd.
- Hydrodynamic Industrial Co. Ltd
- Hutchwilco Ltd.
- Galvanisers India
- Supreme In Safety Services
- United Moulders Limited
- Johnson Outdoors Watercraft, Inc.
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Global Personal Flotation Devices Market: Research Scope
Global Personal Flotation Devices Market, by Product
- Offshore Life Jacket
- Near-shore Buoyant Vest
- Flotation Aid
- Throwable Devices
- Special-use Devices
Global Personal Flotation Devices Market, by End-use
- Aquaculture Industry
- Oil & Gas Industry
- Naval Industry
- Others (Water Tourism, etc.)
Global Personal Flotation Devices Market, by Application
- Passenger and Aircraft Crew
- Commercial Vessels
- Cargo Ships
- Tugboats
- Passenger Ferries
- Government & Military
- Water Sports
Global Personal Flotation Devices Market, by Distribution Channel
- Online
- E-commerce Websites
- Company Owned Websites
- Offline
- Wholesalers
- Retailers
- Specialty Stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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