About Life Vests
A life vest is a device designed to keep a wearer afloat and their head above water, often in swimming pools, rivers, or oceans. They are available in different sizes and different designs purposed for various levels of protection. They are mandatory on airplanes traveling over water and are also found on sea-faring vessels, accessible to all crew and passengers and to be donned in an emergency. Life vests are also found in near water-edges and at swimming pools. Life vests often made of tough synthetic fiber material encapsulating a source of buoyancy, such as foam or a chamber of air, and are often brightly colored as yellow or orange to maximize visibility for rescues.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.1% |
There are various companies that are exploring in this market, the companies are spending to expand their footprint across new geographical regions. The market leaders are adopting various market strategies such as mergers & acquisitions, expansions, investments, new solution launches, and collaborations as their strategies. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Life Vests market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Survitec Group Limited (United Kingdom), Viking Life-Saving Equipment A/S (Denmark), The Coleman Company, Inc. (United States), Hansen Protection AS (Norway), DICK'S Sporting Goods (United States), Johnson Outdoors, Inc. (United States), LALIZAS (Greece), Mustang Survival Corp. (Canada), O’Neill (United States) and International Safety Products Ltd. (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are SECUMAR (Germany), Salus Marine Wear Inc. (Canada), Dongtai Jianghai (China), Stormy Lifejackets Pty Ltd (Australia), Wuxi Xingtai Shipping Equipment (China), SeaSafeSystems Ltd (United Kingdom), Ningbo Zhenhua Electrical Equipment (China) and Kokatat, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Life Vests market by Type (Foam Vests, Inflatable Vests and Hybrid Vests), Application (Adults, Kids and Animals) and Region.
On the basis of geography, the market of Life Vests has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Life Vests market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Life Jacket Wear among Different Groups of Recreational Boaters
Market Growth Drivers:
Stringent Government Regulations Regarding Safety, The Rising Numbers of Recreational Boating Accidents Worldwide, The Increasing Drowning Incidences among the Globe and The Rising Demand for Safety Equipment’s From Swimming Institutes
Restraints:
Availability of Counterfeit Products
Opportunities:
The Increasing Demand from Developed As Well As Developing Countries and Technological Advancements in PFD Products
Market Leaders and their expansionary development strategies
In February 2024, Vietjet and Safran Aerosystems, a global leader in aviation safety systems, proudly announce a strategic partnership for the supply of safety equipment on Vietjet's B737MAX aircraft. The selection includes essential safety components such as Life Rafts, Protective Breathing Equipment, Crew Masks, and Life Vests, and associated support services.In a strategic collaboration, Vietjet and Safran Aerosystems join forces to enhance safety and security on board the Vietjet B737MAX fleet.
In October 2023, ThrowRaft launched its Neutral Buoyancy Life Jacket at the recent National Association of State Boating Law Administrators (NASBLA) 2023 Conference in Denver, CO, USA. The company says its innovative life-saving device is designed to meet the specific needs of law enforcement and first responders operating in aquatic environments to make a substantial impact on safety and rescue operations nationwide.
Key Target Audience
Life Vests Manufacturers, Life Vests Traders, Life Vests Distributors, Life Vests Importer/Exporter, Regulatory & Government Bodies and Downstream Vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.