Life Vests Market 2020-2027 Report and Impact of Coronavirus Pandemic

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Life Vests Market
Life Vests Market

A life vest, also called personal floatation device is a safety equipment worn on the upper body as it makes people float on water and saves them from drowning. Life vest comes in different categories, sizes, and colors. Some life jackets inflate by themselves and others need to be filled with air manually. These are available in different sizes and in different colors. Life jackets have a waist belt, adjustable chest strap, and zipper. Government has implemented strict rules and framework regarding the use of life vests in airplanes, water sports, and places where there is a drowning risk.

Market scope and structure analysis:

Report Metric Details
Market size available for years 2020–2027
Base year considered 2019
Forecast period 2021–2027
Forecast units Value ($US)
Segments covered Type, Application, Size, and Region
Regions covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
Companies covered International Safety Products Ltd., Survitec, Hansen Protection AS, H3O Water Sports, Aqua Life, Johnson Outdoors, Mustang Survival, Kent Sporting Goods, Stormy Lifejackets, SECUMAR.

COVID-19 Scenario Analysis:

Amusement parks and water sports are shut down due to COVID-19 pandemic, which has led to a shutdown of places where people tend to gather. This has decreased the demand for life vests among the people, thus decreasing the growth of the market.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The increase in popularity of water sports all over the globe is the biggest growth driver of the market. Most of the people are now interested in jet skiing, wake boarding, river rafting instead of simple holidays of just being at the place, which boosts the growth of the market.

Strict regulations and policies regarding the use of life vests also drive the market growth. Government of many countries are very strict about not using life jackets wherever it is compulsory. This has increased its usage and raised the demand.

The global life vests market trends are as follows:

Water sports like river rafting, water skiing, rowing, and fishing are gaining popularity. People prefer sports than a simple holiday. Water sports is another field which has gained popularity and people tend to opt for these whenever possible. Government has made the use of life jackets mandatory for a person indulging in any activity that involves drowning. This boosts the demand for life vests among the people, thus driving the market growth.

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Key Segments Covered:

Segments Sub-segments
Type
  • Inherent
  • Inflatable
Application
  • Temperature Control
  • Temperature Monitoring
  • Others
Size
  • Adult
  • Youth
  • Child
  • Infant

Key Benefits of the Report:

  • This study presents the analytical depiction of the global life vests 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 vests market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global life vests market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global life vests market analysis based on competitive intensity and how the competition will take shape in coming years.

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