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.

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.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

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.

COVID-19 pandemic has significant impact on the global demand for personal flotation devices

  • By geography, the personal flotation devices market is segmented into Europe (EU), North America (NA), Middle East & Africa (MEA), South America (SA), and Asia Pacific (APAC)
  • The market research report delivers country level breakdown for each regional segment. On the basis of country, the North America personal flotation devices market is categorized into the U.S., Canada, and Rest of North America. Country-level segmentation of the Europe market provides historical and forecast analysis for the personal flotation devices market in France, the U.K., Germany, and Rest of Europe. Country-level segmentation of Asia Pacific provides analysis and forecast of the market in Japan, India, China, and Rest of Asia Pacific. Country-level segmentation of Middle East & Africa provides analysis and forecast of the personal flotation devices market in South Africa, GCC countries, and Rest of Middle East & Africa. Country-level segmentation of the South America personal flotation devices market includes Brazil, and Rest of South America.
  • The COVID-19 pandemic has forced significant fallout in the demand for personal flotation devices in the last few months. The lockdown and complete shutdown of public centers have restricted recreational activities and cross border travel and tourism. However, major economies are now planning a step by step opening of different sectors with all the precaution measures and safety regulations.

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 2020, 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.
  • International Safety Product Ltd.
  • Hydrodynamic Industrial Co. Ltd
  • Hutchwilco Ltd.
  • Galvanisers India
  • Supreme In Safety Services
  • United Moulders Limited
  • Johnson Outdoors Watercraft, Inc.

For Right Perspective & Competitive Insights on Personal Flotation Devices Market, Request for a Sample

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

The report on the global personal flotation devices market delivers comprehensive and first-hand data, macroeconomic and microeconomic analysis, and key inputs from industry professionals and business participants across the value chain. The report comprises exhaustive analysis of parent market developments, governing factors, and macroeconomic indicators. Further, the research report provides insights about market attractiveness for key segments. The research study also considers the qualitative influence of different factors on regional markets and industry segments.

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Personal Flotation Devices Market