Adults Personal Floatation Devices Market Report Overview
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The global adults personal floatation devices market size is expanded rapidly in 2022. As per our research, the market is expected to generate substantial revenue by 2031, exhibiting a high CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the adults personal floatation devices market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
An adult personal flotation device (PFD), also commonly referred to as a life jacket or life vest, is a piece of equipment designed to help a person stay afloat and maintain buoyancy in the water. PFDs come in different types and styles, but they all serve the same purpose of providing flotation to the wearer.
The market is expected to boom exponentially over the forecast period due to government regulations and safety standards, increasing awareness of water safety, and growing participation in water sports and recreational activities. The market is also influenced by advancements in materials and technology, which have led to the development of more comfortable, lightweight, and functional PFDs. Furthermore, the market is segmented by type, by application, and geographical expansion of the market. Besides, a variety of floatation devices are available in the market which are gaining popularity among water sports enthusiasts. While the market has an extensive device application which led to fuels the demand for floatation devices.
COVID-19 Impact: Lockdown Restrictions on Water Sports Activities, Impacts the Market Growth
The COVID-19 pandemic has impacted the supply chain significantly, as manufacturers have had to deal with disruptions in raw material supplies, labour shortages, and shipping delays due to lockdowns and restrictions on international trade. In addition to this, the health emergency has also affected consumer behaviour and demand. With restrictions on travel and social distancing measures in place, there has been a decline in outdoor and recreational activities that typically require the use of PFDs, such as boating and fishing. As a result, sales of adult PFDs have been negatively affected. However, the market is expected to rise again due to the rising demand for floatation devices in certain sectors such as search and rescue operations, commercial fishing, and watercraft rental companies. These sectors have continued to operate and require PFDs for safety reasons, leading to sustained demand in those areas.
Latest Trends
"Utilization of Smart Technology in Floatation Devices Expand Market Scope"
The market is continuously evolving, with manufacturers and brands introducing new developments and trends to meet the changing demands of consumers. The latest trends in the market are anticipated to augment the market’s growth. For instance, some PFD manufacturers are incorporating smart technology into their products, such as GPS tracking, personal locator beacons, and integrated LED lights for visibility and safety. Along with this, as water sports and activities continue to gain popularity, there is a growing demand for specialized PFDs designed for specific activities such as kayaking, paddle boarding, or fishing. Manufacturers are introducing new products with features tailored to these activities, such as pockets for fishing gear or hydration packs for longer paddling trips. Thereby, these trends are ascribed to support the adults personal floatation devices market growth in the coming years.
Adults Personal Floatation Devices Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into buoyancy aid (Foam Core), life jacket, survival suit, buoyancy compensator, and others.
- By Application Analysis
Based on application, the market can be divided into passenger & aircraft crew, commercial vessel, government & military, water sporting, and others.
Driving Factors
"Increasing Participation in Water Sports Fuel the Demand for Floatation Equipment"
The market is driven by various factors such as government regulations, growing awareness of water safety, and increasing participation in water sports. As participation in water sports such as kayaking, paddleboarding, and wakeboarding increases, so does the demand for PFDs specifically designed for these activities. Thus, the demand for adult PFDs is expected to continue to grow due to these driving factors of the market.
"Growing Commercial Applications Support the Growth of the Market"
Another major driving aspect of the market is the increase in commercial applications. PFDs are not only used for recreational purposes, but also for commercial applications such as search and rescue, commercial fishing, and watercraft rental companies. The increasing demand for these services also propels the demand for PFDs and will contribute to its growth.
Restraining Factors
"High Cost Can Hamper the Market Growth"
The cost of adults personal floatation devices is a significant factor that may confine the adoption of PFDs, especially among budget-conscious consumers. Some PFDs are more expensive than others due to the materials and technology used in their construction which can restrict the expansion of the market.
Adults Personal Floatation Devices Market Regional Insights
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"North America leads the Market due to Government Regulations Mandating PFD Use in Water Activities"
According to recent market research reports, North America is predicted to be the leading region in the market, accounting for the largest adults personal floatation devices market share. The demand for PFDs in North America is driven by government regulations mandating the use of PFDs in certain water activities, such as boating and fishing, and a growing awareness of the importance of water safety. In addition, the region has a high participation rate in water sports and activities such as kayaking, paddle boarding, and wakeboarding, leading to significant demand for specialized PFDs.
Key Industry Players
"Key Companies Establish Distribution Networks that Enable them to Reach a Broad Audience"
With regard to key players, notable companies dominate the market revenue due to several factors. Firstly, they have a strong reputation in the industry for producing high-quality, reliable, and innovative PFDs that meet the needs and demands of consumers. Additionally, the major companies have established distribution networks that enable them to reach a wide customer base, including retailers, wholesalers, and online marketplaces. Finally, these companies invest in research and development to introduce new products and technologies that meet the changing demands of consumers, helping them to maintain their market position and continue to grow in the industry.
List of Market Players Profiled
- Mustang Survival
- Astral
- Survitec Group Limited
- The Coleman Company
- Kokatat
- NRS (Northwest River Supplies)
- MTI – Marine Technology
- VIKING Life-Saving Equipment
- Aqua Lung International
- Harmony
- JimBuoy
- ABSOLUTE OUTDOOR
- O’Brien
- Hansen Protection
- Johnson Outdoors
- Stormy Lifejackets
- Spinlock
- SeaSafe Systems
- Stearns
- Onyx
- Stohlquist
- Kent Sporting Goods
- Phantom Aquatics
- Grundens
- Promate
- LALIZA
- International Safety Product Ltd.
- Hydrodynamic Industrial Co. Ltd
- National Marine Manufacturer Association
- Erez Europe
- United Moulders Limited
- Hutchwilco Ltd.
- Marine Rescue Technologies
- GALVANISERS INDIA
- Supreme In Safety Services
Report Coverage
This report defines the adults personal floatation devices market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
Frequently Asked Questions
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What are the key driving factors of the global adults personal floatation devices market?
Mandatory government regulations, growing awareness of water safety, and increasing participation in water sports are the driving factors of the adults personal floatation devices market.
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What is the leading region in the adults personal floatation devices market?
North America leads the adults personal floatation devices market due to government regulations mandating the use of PFDs in water activities and the high participation rate in water sports in the region.
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What are the key players in the adults personal floatation devices market?
Mustang Survival, Astral, Survitec Group Limited, The Coleman Company, Kokatat, NRS (Northwest River Supplies), MTI – Marine Technology, VIKING Life-Saving Equipment, Aqua Lung International, Harmony, JimBuoy, ABSOLUTE OUTDOOR, O’Brien, Hansen Protection, Johnson Outdoors, Stormy Lifejackets, Spinlock, SeaSafe Systems, Stearns, Onyx, Stohlquist, Kent Sporting Goods, Phantom Aquatics, Grundens, LALIZAS, International Safety Product Ltd., Hydrodynamic Industrial Co. Ltd, National Marine Manufacturer Association, Erez Europe, United Moulders Limited, Hutchwilco Ltd., Marine Rescue Technologies, GALVANISERS INDIA, and Supreme In Safety Services are top players in the adults personal floatation devices market.
