A key factor driving the growth of the market is increasing the popularity of water sports tourism. With the rising water sports in water sports tourism industry such as water polo, surfing, river rafting, and river boarding, the demand for required equipment, such as life jackets has increased significantly. Also, multiple initiatives undertaken by governmental and non-governmental organizations have increased participation in water sports. This driving factor is expected to boost the growth of the overall global life jacket market during the forecast period.
This market research report on the global life jacket market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the expanding water sports infrastructure for a better experience as one of the key emerging trends in the global life jacket market:
Global life jacket market: Expanding water sports infrastructure for a better experience
The recreational water sports market has been growing at a rapid rate, providing a novel business opportunity to many coastal cities or regions with water bodies. Thus, many initiatives have been undertaken to promote the proper growth and expansion of water sporting facilities across the globe. Such initiatives and the introduction of novel water sports activities such as jeep parasailing, para-motoring, and seaplane rides are driving the growth of the overall global life jacket market at large. According to a senior analyst at Technavio:
“The Facilities for the Water Sports Industry (FAWI) project aims at improving facilities for the water sports industry. The project is focusing on cross-border collaborations in the water sports segments which are mainly concentrated in the Flemish-Dutch border, Northwest France and Southeast England. Similarly, Andhra Pradesh in India launched a host of facilities in 2016, which provides options for water sports such as parasailing, water skiing, and speed boating.”
Global life jacket market: Segmentation analysis
This market research report segments the global life jacket market by end-user (commercial operators, professional users, and swift water rescue users) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of close to 41%, followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the growing popularity of water sports tourism and the advent of shirt-based life jackets.
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- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Competitive scenario
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