Global Survival Suits Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2018–2027

Global Survival Suits Market Introduction:

"The Survival Suits Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our researchers have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

Survival suits also known as immersion suits are used for personal protection from sinking, hypothermia, and cold shocks. These suits are often used in industrial applications such as oil rigs and in rescue operations such as professional water rescue.

Market Dynamics:

The global survival suits market is estimated to witness substantial growth, owing to increasing demand from various commercial industries. In addition, increasing safety concerns regarding personal protection in oil rigs is another factor expected to drive the growth of the target market. Increasing oil exploration activities in various developing and developed regions is another key factor expected to drive the growth of the global survival suits market. The increasing rate of natural calamities such as floods, hurricanes, and fire accidents are key factors expected to create huge demand for survival suits, which in turn are expected to propel the growth of the target market.

Increasing ongoing R&D activities for advancement in these suits is another factor expected to augment the growth of the global survival suits market. In addition, technological advancements in survival suits are another key factor expected to propel the growth of the target market. For instance, the enhancement of outlasting technology by Survival-One Limited has propelled the demand for immersion suits in the global survival suits market. Increasing demand for professional water rescue operations and for fishing activities are other factors expected to drive the growth of the global survival suits market over the forecast period.

However, the lack of proper sizing of suites is a key factor expected to hamper the growth of the target market, as manufacturers use universal size options by using the anthropometric data from the population sample, but the method is unsuccessful owing to the diversity of the body. In addition, the process of testing survival suits in real-time situations can be expensive and challenging which is another factor expected to hinder the growth of the global survival suits market.

Regional Insights:

The North American market is projected to dominate the global market, owing to increasing oil exploration activities in countries in this region. In addition, increasing oil extraction activities are expected to generate demand for survival suits for personal protection, which in turn is anticipated to drive the growth of the target market in the region.

Market in Europe is expected to register significant growth, owing to stringent government rules for the protection of workers in oil refineries by European Union in the oil & gas offshore activities. In addition, increasing injuries and accident rates in the oil & gas drilling sector, has led to a set of strict rules regarding personal protection, which is another major factor expected to generate demand for survival suits, which in turn is expected to drive the growth of the target market in the region. Markets in the Asia Pacific, Latin America, and the Middle East, and Africa are expected to witness considerable growth over the forecast period.

Segmentation and Key Players Operating in the Global Survival Suits Market:

Segmentation by suit type:

• Dry Suit
• Wet Suit
• Flotation Suit
• Inflatable Suit

Segmentation by material type:

• Neoprene
• Polyester
• Polyethylene
• Polyurethane
• Aluminium

Segmentation by application:

• Marine
• Oil Rigs
• Military
• Fishing
• Others
  • Professional Water Rescue
  • Paddle Sports

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa