What is Global Life Vests Market?
The Global Life Vests Market is a comprehensive study of the worldwide market trends and growth prospects, focusing on the life vests industry. Life vests, also known as life jackets or personal flotation devices, are essential safety equipment used in various water-related activities and operations. They are designed to prevent drowning by keeping the wearer's head above water, regardless of the person's physical ability or unconscious state. The global market for life vests is a dynamic and rapidly evolving field, with numerous manufacturers and suppliers competing for a share of the market. The market's value was estimated at US$ 2352.9 million in 2022, and it is projected to reach US$ 3301.8 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2029.
Foam Vests, Inflatable Vests, Hybrid Vests in the Global Life Vests Market:
The Global Life Vests Market is segmented into three main types: Foam Vests, Inflatable Vests, and Hybrid Vests. Foam vests are the most traditional type of life vests, made from buoyant materials that provide constant flotation. They are typically used for recreational activities like boating and water skiing. Inflatable vests, on the other hand, are compact and lightweight, inflating automatically upon immersion or manually when needed. They are commonly used in situations where mobility and comfort are crucial, such as sailing and fishing. Hybrid vests combine the features of foam and inflatable vests, offering both constant buoyancy and the option for additional flotation when needed. They are often used by individuals who engage in a variety of water activities. Each type of life vest has its advantages and is chosen based on the specific needs and requirements of the user.
Adults, Kids, Animals in the Global Life Vests Market:
Life vests are used by different age groups and even animals. Adult life vests are designed to provide buoyancy for individuals weighing more than 90 pounds. They come in various sizes and styles to accommodate different body shapes and water activities. Kids' life vests, on the other hand, are specifically designed for children weighing less than 90 pounds. They often include additional safety features like head support and crotch straps. Animal life vests are designed to keep pets safe in the water. They are typically used for dogs, but can also be used for cats and other pets. These vests are designed with handles for easy rescue and bright colors for visibility. The use of life vests is crucial in ensuring the safety of adults, children, and pets during water activities.
Global Life Vests Market Outlook:
The Global Life Vests Market is dominated by several key players, including Survitec, VIKING Life-Saving Equipment, The Coleman Company, Hansen Protection, Dräger, Johnson Outdoors, Kent Sporting Goods, LALIZAS, Mustang Survival, O’Neill, International Safety Products, SECUMAR, SALUS MARINE WEAR INC., Dongtai Jianghai, Stormy Lifejackets, Wuxi Xingtai Shipping Equipment, MW Watersports, SeaSafe Systems, Ningbo Zhenhua Electrical Equipment, Aqua Life, Eyson and Xiamen Shenshou Science and Technology. These companies collectively hold about 29% of the market shares. Europe is the largest consumer of life vests, accounting for nearly 27% of the sales revenue. The region's dominance can be attributed to its extensive coastline, numerous water bodies, and high participation in water sports and recreational activities.
| Report Metric | Details |
| Report Name | Life Vests Market |
| Accounted market size in 2022 | US$ 2352.9 in million |
| Forecasted market size in 2029 | US$ 3301.8 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Survitec, VIKING Life-Saving Equipment, The Coleman Company, Hansen Protection, Dräger, Johnson Outdoors, Kent Sporting Goods, LALIZAS, Mustang Survival, O’Neill, International Safety Products, SECUMAR, SALUS MARINE WEAR INC., Dongtai Jianghai, Stormy Lifejackets, Wuxi Xingtai Shipping Equipment, MW Watersports, SeaSafe Systems, Ningbo Zhenhua Electrical Equipment, Aqua Life, Eyson, Xiamen Shenshou Science and Technology |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
