Global Life Jacket Market 2016-2020
About Life Jacket
The global life jacket market is driven by a demand from coast guards and government marine agencies globally. Recreation is another key end-user segment, which demands life jacket for activities such as water skiing, fishing, and boating. Strong demand from APAC and European countries contribute significantly to market growth.
Technavio’s analysts forecast the global life jacket market to grow at a CAGR of 4.64% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global life jacket market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of life jackets at the manufacturer level.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Life Jacket Market 2016-2020
Technavio recognizes the following companies as the key players in the global life jacket market: Survitec, International Safety Products, and VIKING Life-Saving Equipment.
Other Prominent Vendors in the market are: Marine Safety Products, Aqua Life, Hansen Protection, H3O Water Sports, Johnson Outdoors, Kent Sporting Goods, Mustang Survival, Stormy Lifejackets, SECUMAR, Spinlock, SeaSafe Systems, and The Coleman Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is focus on light weight and streamlined life jackets. Most life jackets are uncomfortable to the wearer because of their design and weight. Lifejacket offers various range of buoyancy in Newtons such as 50N, 275N, and 100N. These are the flotation capacity expressed in Newtons which is a unit of force. A pound equals to 4.4484 Newtons and with respect to life jackets it is the buoyant force that a jacket produces. A level 50 type of life jacket offers 11.24 pounds of buoyancy and are suitable for swimmers. There is a significant difference change in the buoyancy level offered by vendors in the market. Vendors are constantly focusing on developing lightweight life jackets.”
According to the report, one driver in the market is demand from coast guards. Life jackets have been widely used by the outdoor recreation industry and coast guards globally. The responsibilities of coast guards include search and rescue, safety of vessels, border control, maintenance of seamarks, and enforcement of maritime law. These jobs require a proper protection of personnel with all the necessary gears as they work in environments with a high risk of fatalities and accidents. Therefore, personal flotation devices are mandatory for coastguards. Coastguards use all types of life jackets such as off-shore life jackets, near shore life jackets, inflatable life jackets, and special use life jackets. These life jackets are accessible to them in their boats and near places of work and consist of additional features such as emergency lights and whistles.
Further, the report states that one challenge in the market is need for frequent maintenance. Periodic inspection of life jackets is crucial to avoid fatal accidents that can occur because of leaks, fabric degradation, or inadequately installed CO₂ cylinder. The most common cause of life jacket failure is the use of inflation canisters beyond their expiry dates. Also, fabrics used to make life jackets shrink or lose their efficiency with use. In addition, compression strength of foam can also impact the performance of the foam used in life jackets.
Survitec, International Safety Products, VIKING Life-Saving Equipment, Marine Safety Products, Aqua Life, Hansen Protection, H3O Water Sports, Johnson Outdoors, Kent Sporting Goods, Mustang Survival, Stormy Lifejackets, SECUMAR, Spinlock, SeaSafe Systems, The Coleman Company.
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