Life Vests Market Share, Growth Opportunities, Impact of COVID-19 Analysis and Forecast by 2027

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.

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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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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.

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