Personal Flotation Devices Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The personal flotation devices market share is expected to increase to USD 1.85 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.78%.

This PFD market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers personal flotation devices market segmentation by product (type I, type II, type III, type IV, and type V) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The personal flotation devices market report also offers information on several market vendors, including Astral Buoyancy Co., Cal June Inc., Confluence Kayaks LLC, Galvanisers India, Hansen Protection AS, Hutchwilco, Hydrodynamic Industrial Co. Ltd., Johnson Outdoors Inc., Kent Water Sports LLC, Kokatat Inc., LALIZAS Group, Marine Rescue Technologies, Mustang Survival Corp., Newell Brands Inc., NRS Inc., SeaSafe Systems Ltd., Spinlock Ltd., Stormy Lifejackets Pty Ltd., Supreme In Safety Services, and Survitec Group Ltd. among others.

What will the Personal Flotation Devices Market Size be During the Forecast Period?

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Personal Flotation Devices Market: Key Drivers, Trends, and Challenges

The increasing focus on preventing marine fatalities is notably driving the personal flotation devices (PFD) market growth, although factors such as the selection of the right PFDs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the personal flotation devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Personal Flotation Devices Market Driver

• One of the key factors driving the global personal flotation devices market growth is the increasing focus on preventing marine fatalities.
• A wide range of PFDs is available in the market, from traditional foam floatation devices to inflatable life jackets.
• For life jackets used for boating activities, USCG-approved variants are highly recommended, which must be appropriate for the intended use.
• In Europe, approximately half of the marine casualties were reported to investigative bodies by the shore authorities.
• Marine casualties are a result of collisions, damage to ships, capsizing of ships, explosion or fires, flooding or foundering, loss of control, and hull failure.
• During the period 2011-2018, cargo ships contributed almost half of the marine fatalities, followed by passenger ships. Such factors may drive the market growth in the forecast period.

Key Personal Flotation Devices Market Trend

• The development of robot life preservers is one of the key personal flotation devices market trends that is expected to impact the industry positively in the forecast period.
• The coast guard is entrusted with several maritime duties, the most important being the rescue of boats that have capsized, broken down, or have run out of fuel.
• The pursuit of having the safest rescue operation led to the development of robots, which serve as life preservers.
• EMILY is a robot, which stands for Emergency Integrated Lifesaving LanYard. This robot rescuer is being tested by Greece Coast Guard to save refugees in the event of the boat capsizing in the Aegean and the Mediterranean Sea. This robot is four feet long vessel remotely controlled by an operator to rescue people who get caught in high tides. With the growing popularity of EMILY, the US navy and many such organizations are adopting EMILY for life-saving activities in marine accidents.
• The development of robot life preservers may further support the market growth in the coming years.

Key Personal Flotation Devices Market Challenge

• One of the key challenges to the global personal flotation devices market growth is the selection of right PFDs.
• In water sports activities such as jet-skiing, windsurfing, canoeing, water skiing, and dinghy sailing, the right size of PFDs provides confidence to the paddlers to enjoy the activities.
• The are several aspects of the classification of PFDs, such as the type of activity they are designed to be used in and the distance of the activity from the shore.
• Several types of PFDs are available in the market, with some being activity-specific. This, however, does not make the task of selecting the appropriate type of PFDs easier, which is important to meet the highest standards of safety.
• The process of selection of PFDs may seem difficult for new as well as experienced users, which may hamper the market growth in the forecast years.

This personal flotation devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global personal flotation devices market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal flotation devices market during the forecast period.

Who are the Major Personal Flotation Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Astral Buoyancy Co.
• Cal June Inc.
• Confluence Kayaks LLC
• Galvanisers India
• Hansen Protection AS
• Hutchwilco
• Hydrodynamic Industrial Co. Ltd.
• Johnson Outdoors Inc.
• Kent Water Sports LLC
• Kokatat Inc.
• LALIZAS Group
• Marine Rescue Technologies
• Mustang Survival Corp.
• Newell Brands Inc.
• NRS Inc.
• SeaSafe Systems Ltd.
• Spinlock Ltd.
• Stormy Lifejackets Pty Ltd.
• Supreme In Safety Services
• Survitec Group Ltd.

 

This statistical study of the personal flotation devices market encompasses successful business strategies deployed by the key vendors. The personal flotation devices market is fragmented and the vendors are deploying growth strategies such as product differentiation and innovation to compete in the market.

Product Insights and News

• Astral Buoyancy Co. - The company offers personal flotation devices that are comfortable life jacket, which is environmentally friendly PFD made, and the shell is made from bluesign certified recycled polyester.
• Newell Brands Inc - The company offers a wide range of personal flotation devices through its brand Coleman.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The personal flotation devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Personal Flotation Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the personal flotation devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Personal Flotation Devices Market?

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32% of the market's growth will originate from North America during the forecast period. The US is the key market for personal flotation devices in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA.

The access to digital platforms that boost online retail, growth in the number of swimming pools and other watersports locations, increasing participation and enrollment in watersports and water recreational activities, and expanding prospective end-user base will facilitate the personal flotation devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic adversely affected North American countries. It resulted in the temporary closure of various industries, including those manufacturing PFDs. However, in Q3 2021, the demand for these products rebounded, as retail stores reopened due to the large-scale COVID-19 vaccination drives initiated in this region. These factors will drive the growth of the regional PFDs market during the forecast period.

What are the Revenue-generating Product Segments in the Personal Flotation Devices Market?

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The personal flotation devices market share growth by the type I segment will be significant during the forecast period. Offshore life jackets are mainly used to provide safety to the crew on shipping vessels. The growth of the market for type I PFDs is attributed to an increase in demand for ultra-large vessels by shipping companies to achieve fuel efficiency and economies of scale. This demand is being fulfilled by APAC countries such as China, South Korea, and Japan, which are global leaders in shipbuilding and, consequently, the major contributors to the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the personal flotation devices market size and actionable market insights on post COVID-19 impact on each segment.

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Personal Flotation Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.78%
Market growth 2022-2026	$ 1.85 billion
Market structure	Fragmented
YoY growth (%)	4.4
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 32%
Key consumer countries	US, China, UK, Germany, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Astral Buoyancy Co., Cal June Inc., Confluence Kayaks LLC, Galvanisers India, Hansen Protection AS, Hutchwilco, Hydrodynamic Industrial Co. Ltd., Johnson Outdoors Inc., Kent Water Sports LLC, Kokatat Inc., LALIZAS Group, Marine Rescue Technologies, Mustang Survival Corp., Newell Brands Inc., NRS Inc., SeaSafe Systems Ltd., Spinlock Ltd., Stormy Lifejackets Pty Ltd., Supreme In Safety Services, and Survitec Group Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Personal Flotation Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive personal flotation devices market growth during the next five years
• Precise estimation of the personal flotation devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the personal flotation devices industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of personal flotation devices market vendors

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