Survival Suits Market: Introduction

  • Survival suits also known as rescue suits are special body covering suits that protect the wearer from cold water to avoid hypothermia, provides increasing cover through flotation, and also allows adequate mobility to perform vital tasks. Manufacturers provide several types of suits including dry or wet survival suit, flotation survival suit, and inflatable survival suit. The common material preferred in survival suits are neoprene, a rubber material which prevents the water from entering the suit.
  • Growing concerns regarding personal safety and protection near oil platforms, and strict government safety regulations are increasing the demand for survival suits. Growing awareness in developing economies about survival suits is also anticipated to boost the market in the coming years. 

Key Drivers of the Global Survival Suits Market

  • Governments of several countries and some oil and gas associations have made survival suits mandatory. For instance, regulations laid down by the Norwegian Oil and Gas Association mandate that survival suits need to be dry suits and should be able to protect a person from thermal stress. The survival suits market is anticipated to grow at a significant rate in the coming years due to strict laws and regulations assigned by regulatory bodies across the globe.    
  • Technological advancement in the product is also encouraging the growth of the survival suits market. Manufacturers active in the survival suits market are focusing on product development by increasing investment in R&D to enhance the product’s features and improve product efficiency. For instance, Outlast technology developed by NASA for protection of astronauts has also surged the demand for survival suits.

Survival Suits Anticipated to Create Attractive Opportunities in Future

  • Growing awareness about safety and protection of oil field workers across developing countries is expected to create lucrative opportunities for survival suits manufacturers during the forecast period. In addition, increasing number of oil fields, and industrialization across several developing countries in the Asia Pacific region are surging the demand for survival suits. 

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

High Product Cost and Suit Sizing Expected to Obstruct the Overall Survival Suits Market

  • High cost of the product and universal size of suits are major obstructions to growth of the survival suits market. Survival suits are unaffordable for several small and medium industries. Manufacturers adopt universal size for survival suits which fail to meet requirements of large number of people. These factors are anticipated to adversely influence the future market. 

North America and Europe Anticipated to Dominate the Global Survival Suits Market

  • Growing oil extraction activities and rise in oil production makes North America dominant in the survival suits market. According to the U.S. Energy Information Administration (EIA), production of oil surged to 10.96 million barrels per day in 2018 from 10.04 million barrels per day in 2017. This surge in oil extraction and production is anticipated to boost demand for survival suits for personal protection.
  • Europe also holds significant share of the market after North America. Increasingly stringent laws and regulations laid down by the European Union is driving the demand for survival suits across Europe. The market in Asia Pacific is also anticipated to show significant growth rate in the coming years owing to increasing oil production and industrialization in developing countries across the region.

Key Players Operating in the Global Market

The global survival suits market is highly concentrated across major manufacturers who account for around 20%–25% share of the overall survival suits market. A few of the key manufacturers operating in the global survival suits market are listed below:

  • Hansen Protection AS
  • Aquata
  • Sioen Industries NV
  • Procean webstore
  • Mustang Survival ULC
  • Marine Safety Supplies Limited
  • Drägerwerk AG & Co
  • Chongqing Gathering Marine Equipment Co Ltd.
  • Survitec Group Limited

Looking for Regional Analysis or Competitive Landscape in Survival Suits Market, ask for a customized report

Global Survival Suits Market: Research Scope

Global Survival Suits Market, by Suit Type

  • Dry Suit
  • Wet Suit
  • Flotation Suit
  • Inflatable Suit

Global Survival Suits Market, by Material Type

  • Polyester
  • Polyethylene
  • Neoprene
  • Polyurethane
  • Aluminum

Global Survival Suits Market, by End-user

  • Oil Rigs
  • Military
  • Fishing
  • Others (Water Sports, Water Rescuers etc.)

Global Survival Suits Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America  
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Survival Suits Market

Pre Book