Personal Flotation Device Market Current Status, In-depth Analysis and Forecast Outlook 2031

The global personal flotation device market is anticipated to grow at a CAGR of 4.5% during the forecast period. One of the core driving forces is the growing people’s interest in outdoor recreational activities and increasing participation across all sections of people around the globe. One of the activities is watersports, which have been becoming more and more popular not just for the adrenaline rush or excitement of getting fit, however, also due to several benefits in health. Such increasing health benefits accompanying fun water sports are also contributing to the personal flotation device market growth globally. As per the study by North Carolina State University, nature-based activities and outdoor play supported buffering some of the negative impacts on the mental health of the COVID-19 pandemic for adolescents. For instance, in 2020, the COVID-19 pandemic fueled the demand for recreational boat which was reflected in the sales volume during 2021 and were presumed to continue in 2022 as well. 

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Female and new age group boat buyers played a significant role in the progression which is further capitalized by market players of the boat and personal flotation device by increasing their product portfolio and introducing new innovative technologies. For Instance, in July 2022, Tiaga began deliveries of its all-electric personal watercraft (PWC) named Orca. The Ocra comes with a 23-kWh battery pack. Its electric powertrain can generate more than 134 kW and reach its top speed up to 104km/h. While, in March 2022, at the Irish Skipper Expo 2022, an enhanced version of the Mullion Compact Supreme to the 275N Standard complete with Personal Locator Beacon (PLB) was launched. It has a heavy-duty wipe-clean shield for use for fishing in heavy commercial, lobster fishermen, and crabbers, and is suitable for many other marine industrial workers.

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Market Coverage

• Segment Covered- 

o             By Product

o             By End-User

o             Distribution Channel

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

• Competitive Landscape- Helly Hansen AS, Johnson Outdoors Inc., Kent Water Sports, LLC (Onyx), Marine Rescue Technologies, and Newell Brands, Inc. (The Coleman Company Inc.)

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Personal Flotation Device Market Report by Segment

By Product

• Offshore Life Jacket
• Near-Shore Buoyant Vest
• Flotation Aid
• Throwable Devices
• Special-Use Devices

By End-User

• Aquaculture Industry
• Oil & Gas Industry
• Naval Industry
• Others (Water Tourism)

By Distribution Channel

• Specialty Stores
• Company-Owned Outlets
• Online Channels

Global Personal Flotation Device Market Report by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

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