About Inflatable Lifejackets
Drowning remains a major cause of fatal death around the world. In the past few decades, the annual drowning rate has changed little, and there have been significant deaths from recreational boat drowning. Boaters like the feel of the sun and water spray, and it's always tempting to enjoy a boat trip without a life jacket. However, it is important to recognize the ways in which recreational sports prevention strategies can be improved as non-fatal immersion rates are significantly high. Current life jackets are available in different colors, shapes, and sizes. Some of the life jackets are flexible and thin, while others are built into fishing vests or hunter coats. Life jackets are inflatable and as compact as a belt bag or a scarf. The vests are automatically filled with air as soon as they hit the water. Life jackets are designed and approved by government agencies for use by civilians (seafarers, recreational boaters, canoeists, kayakers). These differ from those used by passengers and crew members of aircraft (airplanes, helicopters) and merchant ships (passenger ferries, tugs). Cargo ships). Life jackets or life jackets are compulsory on aircraft flying over water. Life jackets are delivered on commercial seagoing vessels, are accessible to all passengers and crew, and are put on in an emergency.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Inflatable Lifejackets market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Survitec Group (United Kingdom), VIKING Life-Saving Equipment A/S (Denmark), The Coleman Company (United States), Hansen Protection AS (Norway), Drager (Germany), Johnson Outdoors (United States), Kent Sporting Goods (United States), LALIZAS (Greece), Mustang Survival Corp. (Canada), O'Neill (United States), International Safety Products (United Kingdom), Secumar (Germany), Salus Marine Wear Inc. (Canada), Dongtai Jianghai (China), Stormy Lifejackets (Australia) and Wuxi Xingtai Shipping Equipment (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are MW Watersports (United States), SeaSafe Systems (United Kingdom) and Aqua Life (United States).
Segmentation Overview
AMA Research has segmented the market of Global Inflatable Lifejackets market by Type (Vest Type Inflatable Lifejackets and Yoke Type Inflatable Lifejackets), Application (Personal Use and Commercial Use) and Region.
On the basis of geography, the market of Inflatable Lifejackets 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 Distribution Channel, the sub-segment i.e. Online will boost the Inflatable Lifejackets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Adults will boost the Inflatable Lifejackets market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing Popularity of Water Sports Tourism and Rising Participation in Water Sports
Market Growth Drivers:
Increasing Number of People Indulging In Recreational Activities and Strict Regulatory Frameworks and Policies Regarding Compulsory Usage of Life Jackets
Challenges:
Amusement Parks and Water Sports Are Shut Down Due To Covid-19 Pandemic
Restraints:
Lack of Awareness
Opportunities:
Increasingly Engage In Adventure Activities and Technological Advancements
Market Leaders and their expansionary development strategies
In August 2020, Mercury Marine’s parent company, Brunswick Corporation announced that it has completed the acquisition of Power Products – Global Marine & Mobile, which includes the global marine, specialty vehicle, mobile, industrial power, and transportation aftermarket products businesses of Power Products.
In June 2023, Newhaven RNLI's volunteer Water Safety Officer, says: 'Shortly before launch, we received a phone call at the station from people in Seaford Bay whose inflatable had drifted off the beach. They advised us they had successfully recovered the inflatable back to shore.
There are strict regulatory frameworks and policies regarding the compulsory usage of personal floatation devices. The governments of various countries such as the U.S., the U.K., and Australia are very strict in terms of rules so as to follow while performing any kind of recreational activities or for industrial or commercial use of life jackets.
Key Target Audience
Manufacturers of Inflatable Lifejackets, Suppliers and Distributors of Inflatable Lifejackets, End-Users, Potential Investors, Market Research Firms and Others
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.