Global Buoyancy Vest Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global buoyancy vest market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The growing popularity of fishing is one of the factors driving the growth of the global buoyancy vest market. For instance, in August 2021, National CASC Research Fish Biologist Abigail Lynch and co-authors analyzed a survey on recreational anglers and found that recreational angling remained a popular activity in the US. As per the survey, recreational fishing in the US is largely a personal hobby that scales up to a multibillion economic activity. More than 44 million people in the US consider angling as their hobby in terms of outdoor activities. Further, Louisiana State University (LSU) launched an online survey from July 2020 to August 2020 and received nearly 18,000 responses across 10 states. The responses stated that out of five anglers, four fished as much during the COVID-19 pandemic, while one angler out of five fished, taking one additional trip in the spring. Thus, the growing popularity of fishing is anticipated to fuel the demand for the global buoyancy vest market.

Looking toward the demand for buoyancy vests, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2020, James Fisher and Sons Plc had received CE certification for its COBRA buoyancy vest. The buoyancy vest was developed by JFD in 2019, with testing finalized by March 2020 and the CE certification awarded by SGS (General Society for Surveillance) in July 2020. The certification demonstrates the compliance with essential EU regulations as well as leading industry standards such as NORSOK U101. Further, the CORBA buoyancy vest was created to enable divers to control their position in the water and therefore conserve energy. The lift provided by the buoyancy vest can also provide critical support to divers during emergency recovery operations, assisting the individual to repatriate an injured colleague with potentially life-saving results. Thus, such launches coupled with product certifications are anticipated to drive the growth of the global buoyancy vests market during the forecast period (2022-2028).

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- James Fisher and Sons Plc, Oceanic Worldwide (Huish Outdoors, LLC), and Sopras Group among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Buoyancy Vest Market Report by Segment

By Type

• Adult Type
• Childhood Type

By Application

• Entertainment
• Fishing
• Others