LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global lifeguard rescue equipment market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global lifeguard rescue equipment market for 2017-2021. The market is segmented based on product (rescue tubes and cans, lifeguard chairs, lifeguard jackets, spineboard rescue equipment, rescue boards) and geography (the Americas, EMEA, and APAC).
The global lifeguard rescue equipment market will be positively influenced by the growing number of water sports activities in the Americas, EMEA, and APAC. Owing to the growth of the global tourism market, the demand for adventure and outdoor sports has spurred, which will add impetus to the market during the forecast period. Also, driving the market growth is the stringent and safety regulations imposed by regulatory bodies such as OSHA and ARC. OSHA's regulations cover private sector workers as well as government (federal, state and local) employees.
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Technavio research analysts highlight the following three factors that are contributing to the growth of the global lifeguard rescue equipment market:
- Growing popularity of water-based tourism
- Increasing demand in amusement parks
- Strong demand for lifeguard rescue equipment from coast guard
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Growing popularity of water-based tourism
One of the key drivers in the market is the growing popularity of water-based tourism, worldwide. The market for lifeguard rescue equipment will be positively influenced by the growth in water-based tourism. This is mainly driven by factors such as growing population, increasing urbanization, and rising per capita income leading to increased expenditure on leisure and tourism activities.
Neelesh Prakash Singh, a lead research analyst at Technavio, says, “Owing to the growth of global tourism market, adventure and outdoor sports have gain popularity. The majority of share of what comprises adventure tourism originates from Europe and the Americas. However, with the rise in disposable income and growth in the overall economy, emerging economies are witnessing a surge in adventure tourism enthusiasts, especially in Asia, Central and Eastern Europe, Africa, and the Middle East.”
Increasing demand in amusement parks
Lifeguard rescue equipment will witness a strong demand from amusement parks worldwide. The demand is mainly driven by the increasing number of international and domestic footfalls. With the number of amusement parks on the rise, the global lifeguard rescue equipment market will prosper.
“The lifeguard rescue equipment market in APAC is among the fastest growing owing to rising disposable income and an increase in the number of new theme parks owned and operated by international players. Government's focus on promoting entertainment and tourism across the region is expected to boost the market in the next five years,” adds Neelesh.
Strong demand for lifeguard rescue equipment from coast guard
The outdoor recreation industry and the coast guards are the two major end-users for lifeguard rescue equipment, globally. Coastguards are responsible for safety in and around water bodies. As the job involves working in environments with high risk of fatalities and accidents, proper protection of personnel with all the necessary gear is of utmost importance.
Therefore, personal flotation devices are mandatory for coast guards. Coastguards use water rescue equipment such as lifeguard jackets, life rings, rescue can, waterproof bags, elastic wristbands, portable lifeguard chairs, rescue tube, and rescue boards.
Top vendors:
- Adolph Kiefer & Associates
- eLifeguard
- EVERONDACK
- Liquid Shredder Surfboard & SUP Peddleboards
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