Life Jacket Market Global Opportunity Analysis and Industry Forecast, 2020-2027

[sonali sharma]

The global life jacket market is experiencing significant growth, and is expected to grow considerably in the next few years. There are fatal deaths round the year around every corner of world due to drowning in water during sports or swimming. The data from some sources show most people who died due to drowning were not wearing a life jacket. People generally do not use life jackets as they are uncomfortable to use, owing to their design and bulkiness. Life jackets are inflatable, sleeveless, and buoyant vests, which keep wearers afloat in water during water accidents. Currently, life jackets are available in different shapes, color, sizes, and ranges of buoyancy. Innovations in the life jacket market is related to design of streamlines and lightweight life jacket.

Market scope and structure analysis:

Companies covered

International Safety Products, The Coleman Company, VIKING Life-Saving Equipment, Johnson Outdoors, Survitec Group, Stormy Lifejackets Pty Ltd., Jarden Corp., Mustang Survival Corp., Kent Sporting Goods Company, Inc., Hansen Protection AS, Safety and Survival Systems International Ltd.

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COVID-19 Scenario Analysis:

There has been cancellations of previous orders by water sports and other commercial traveling companies as traveling & tourism is affected badly.
Manufacturers have stopped manufacturing, as raw materials and labors are unavailable and the demand has decreased.
The market is expected to grow once normal conditions resume in the global market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in water sports tourism, owing to rise in the travel & tourism sector and craze of water adventure sports among millennials has increased demand for life jackets. Moreover, rise in awareness toward safety standards issued by governments for water adventure sports, airplanes, and other water-based activities for safety of people, use of life jackets for commercial vessels, day sailing, and fishing activities is increasing the demand for the global life jacket market. However, regular maintenance of life jackets and inflatable canisters to avoid failure during accidents is one of the major restrains of the market. Innovations in the field are related to development of streamline designed jackets that feel light to wear and keep temperature warm and cold as per the need.

The global life jacket market trends are as follows:

New product launches to flourish the market
New products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve design of life jackets, which fit comfortably and sit on shoulders avoiding neck and waist. Spinlock Deckvest 5D 170N Pro Sensor is a series of lifejackets, which has unique ‘Shoulder Fit System’ that ensures life jacket fits perfectly on shoulders. Moreover, the life jacket is fitted with sprayhood pylon light with a 23cm flexible antenna to give improved visibility, manual firing head, and other necessary features required by sailors.

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Surge in usage in Europe and America
There has been an increase in demand for life jackets for water adventure sports and other water-based activities in the European countries. The population in European countries is majorly driven toward safety standards and rule by governments on safety of people during adventure sports has created a surge in demand for the European market. Moreover, rise of water sports among people of North America has created a new market in the U.S..

Key Benefits of the Report:

This study presents the analytical depiction of the global t life jacket industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Life Jacket market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global life jacket market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global life jacket market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions Answered in the Life Jacket Market Research Report:

What are the leading market players active in the Life Jacket market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
What would be the detailed impact of COVID-19 on the market?​​