New York, July, 2022: Axiom Market Research & Consulting™ added a report on the global life vest market which includes studies on membrane type, end-user across various countries of key regions across the globe. The global life vest market is projected to grow at a CAGR of xxx for the forecast period 2022 to 2028. The global life vest market is estimated and forecasted in terms of revenue (USD Million) generated by the life vest market.

The factors such as the increased participation in adventure water sports and use in military and safety operations drives the growth of the global life jacket market. With rising awareness of safety standards issued by governments for water adventure sport and other water-based activities of people, the use of life jackets for commercial vessels, day sailing and fishing activities. Furthermore, rising number of market players in the life vest market has increased investment in the research and development of innovative life vest products

The report analyses the global life vest industry based on type, end-user and geography. The life vest type segmented into inherent and inflatable. The end-users of life vest market are, defence, commercial, shipping, offshore, yachting, and others including, water-sports, day sailing, paddle sports. The global life vest market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and in the Rest of the World.

The inherent segment is expected to dominate the life vest industry market during the forecast period

Inherent life jackets form the majority segment of this market with a share of 77% of the total market. The inherent jacket does not require any procedure to operate it. This style of life jacket is primarily made of foam. Inherently buoyant flotation devices are very durable and come in a wide size range. They usually outlast the other life jacket styles.

The water-sport segment is expected to dominate the life vest industry market during the forecast period

In 2021, the water sport segment was valued at $395.2 million. With the rise in water sports activities, demand for life vests has increased. The rise in the population across the globe is mainly driven towards safety standards and rules by governments on the safety of people in various industries, including adventure sports.

Europe dominated life vest market in 2021 and is expected to witness the fastest growth in upcoming years 

Europe is anticipated to witness increasing demand for life vests owing to the presence of well-established market players. In 2021, Europe accounted for the highest share by contributing to around one-third of the total market share.

Key Players

The key players in the global life vest market are, International Safety Products Ltd (UK), Survitec Hansen Protection AS (Norway), H3O Water Sports (India), Aqua life (US), Johnson outdoors (US), Kent Sporting Goods (US), Mustang Survival (Canada), Stormy Lifejackets (Australia), Hansen Protection AS (Norway), Secumar (Germany), Viking Life-Saving Equipment A/S (Denmark), Spinlock (Argentina), The Coleman Company (US), Seasafe Systems Ltd (UK), among others.

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