Marine Life Raft Market
PUBLISHED: 2025 ID: SMRC28377
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Marine Life Raft Market

Marine Life Raft Market Forecast to 2030 - Global Analysis By Product Type (Inflatable Life Rafts and Rigid Life Rafts), Capacity (Less Than 5 People, 5 to 10 People, 10 to 18 People and More Than 18 People), Material, End User and By Geography

4.7 (82 reviews)
4.7 (82 reviews)
Published: 2025 ID: SMRC28377

This report covers the impact of COVID-19 on this global market
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Years Covered

2022-2030

Estimated Year Value (2024)

US $1.2 BN

Projected Year Value (2030)

US $1.8 BN

CAGR (2024-2030)

6.6%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Marine Life Raft Market is accounted for $1.2 billion in 2024 and is expected to reach $1.8 billion by 2030 growing at a CAGR of 6.6% during the forecast period. A marine life raft is a transportable, inflatable survival device intended to give people in trouble at sea emergency flotation and shelter. It provides weather protection and is commonly utilized in shipwreck or abandon ship scenarios. To ensure safety until help arrives, marine life rafts are furnished with basic survival supplies like food rations, water, signaling equipment, and first aid kits.

According to the International Chamber of Shipping (ICS), there are over 50,000 merchant ships trading internationally, transporting every kind of cargo. The world fleet is registered in over 150 nations and manned by over a million seafarers of virtually every nationality.

Market Dynamics:

Driver: 

Rising maritime trade and tourism

The growth of global maritime trade and the increasing popularity of marine tourism are key drivers for the marine life raft market. Expanding shipping routes, cruise travel, and recreational boating activities have heightened the need for safety equipment like life rafts. Stringent safety regulations and the rising focus on passenger and crew safety further bolster demand. As international trade and tourism continue to grow, the market for marine life rafts is expected to expand significantly.

Restraint:

Maintenance and replacement costs

The high costs associated with maintaining and replacing marine life rafts act as a significant restraint. Regular inspections, servicing, and adherence to safety standards require substantial financial investment, which can be burdensome for small vessel operators. Additionally, advanced features like GPS tracking and automatic inflation systems increase initial purchase costs. These factors collectively hinder market penetration, particularly in cost-sensitive regions or among smaller operators.

Opportunity:

Increase in offshore activities

The rise in offshore activities, including oil and gas exploration and renewable energy projects, presents significant opportunities for the marine life raft market. Offshore operations require robust safety measures to protect workers in emergencies, driving demand for high-capacity and durable life rafts. Additionally, advancements in technology, such as self-inflating rafts with survival kits, cater to these industries' specific needs. As offshore investments grow globally, the market is poised to benefit from increased adoption.

Threat:

Environmental challenges

Environmental challenges, such as material degradation due to prolonged exposure to harsh marine conditions, pose a threat to the market. Factors like saltwater corrosion, UV radiation, and extreme weather conditions can shorten the lifespan of life rafts, leading to frequent replacements. Moreover, increasing regulatory scrutiny over eco-friendly materials adds pressure on manufacturers to innovate while maintaining cost efficiency. These challenges could impact profitability and market growth if not addressed effectively.

Covid-19 Impact: 

The COVID-19 pandemic disrupted global shipping and tourism industries, initially slowing the marine life raft market due to reduced maritime activities. However, as industries recovered post-pandemic, demand rebounded with heightened emphasis on safety measures for passengers and crew. The pandemic also accelerated technological innovations in life raft design to ensure compliance with stricter health and safety standards.

The inflatable life rafts segment is expected to be the largest during the forecast period

The inflatable life rafts segment is expected to account for the largest market share during the forecast period due to their lightweight design, compact storage capabilities, and ease of deployment during emergencies. These features make them ideal for use across commercial shipping, recreational boating, and cruise ships. The segment's dominance is further supported by advancements like automatic inflation systems and integrated survival kits that enhance functionality and reliability.

The hypalon segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the hypalon segment is expected to witness the highest CAGR due to its superior durability and resistance to harsh marine environments. Hypalon-based life rafts offer excellent protection against UV radiation, saltwater corrosion, and extreme temperatures, making them highly suitable for long-term use in offshore applications. These attributes drive their adoption across industries requiring robust safety solutions.

Region with largest share:

The North America region is anticipated to account for the largest market share during the forecast period due to its well-established maritime industry and stringent safety regulations enforced by authorities like the U.S. Coast Guard. The region's growing recreational boating sector also contributes significantly to demand for high-quality life rafts. Additionally, advancements in rescue technologies further bolster North America's leadership in this market.

Region with highest CAGR:

The Asia Pacific region is anticipated to register the highest growth rate over the forecast period owing to rapid industrialization and increasing maritime activities in countries like China, Japan, and India. Expanding offshore energy projects and growing investments in shipbuilding drive demand for advanced marine safety equipment in this region. The rising popularity of water-based tourism also contributes significantly to its high growth potential.

Key players in the market

Some of the key players in Marine Life Raft Market include Viking Life-Saving Equipment, Survitec Group Limited, Fujikura Composites, LALIZAS, Liferaft Systems Australia, MIZUNO MARINE, Zodiac Milpro, Plastimo, Switlik Survival Products, Ocean Safety, Wing Inflatables, Revere Survival, Crewsaver, Arimar, Datrex and SHM Shipcare.

Key Developments:

In November 2023, VIKING Life-Saving Equipment said that it was launching an innovative range of lifeboats and davits which set new standards for compact and lightweight lifeboat-based evacuation solutions. ""By challenging traditional lifeboat design, the 40- and 52-person VIKING Norsafe Totally Enclosed Lifeboats (TELB) respond to a rising tide of industry demand for space- and weight-saving boats for typical crew capacities,"" VIKING Life-Saving Equipment said.

In November 2021, LALIZAS Alexander/Ryan Life Raft Service Center successfully passes USCG Inspection. A team of more than fifteen USCG service men/women visited our new 10,000+ sq. ft facility to inspect it for regulatory compliance and to witness our knowledgeable team perform critical life raft servicing tasks.

Product Types Covered:
• Inflatable Life Rafts
• Rigid Life Rafts

Capacities Covered:
• Less Than 5 People
• 5 to 10 People
• 10-18 People
• More Than 18 People

Materials Covered:
• Polyurethane Coated Fabric
• Polyvinyl Chloride (PVC)
• Hypalon
• Neoprene

End Users Covered:
• Commercial Marine
• Defense and Military
• Offshore Oil and Gas
• Recreational Boating
• Emergency Response & Rescue

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
       
2 Preface  
   
 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 Product Analysis     
 3.7 End User Analysis     
 3.8 Emerging Markets     
 3.9 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Marine Life Raft Market, By Product Type      
 5.1 Introduction     
 5.2 Inflatable Life Rafts      
  5.2.1 Throw-Overboard Life Rafts    
  5.2.2 Davits-Launched Life Rafts    
  5.2.3 Self-Righting Life Rafts    
 5.3 Rigid Life Rafts     
       
6 Global Marine Life Raft Market, By Capacity      
 6.1 Introduction     
 6.2 Less Than 5 People     
 6.3 5 to 10 People     
 6.4 10 to 18 People     
 6.5 More Than 18 People     
       
7 Global Marine Life Raft Market, By Material      
 7.1 Introduction     
 7.2 Polyurethane Coated Fabric     
 7.3 Polyvinyl Chloride (PVC)     
 7.4 Hypalon     
 7.5 Neoprene     
       
8 Global Marine Life Raft Market, By End User      
 8.1 Introduction     
 8.2 Commercial Marine     
  8.2.1 Passenger Ships    
  8.2.2 Cargo Ships    
  8.2.3 Fishing Vessels    
 8.3 Defense and Military     
 8.4 Offshore Oil and Gas     
 8.5 Recreational Boating     
 8.6 Emergency Response & Rescue     
       
9 Global Marine Life Raft Market, By Geography      
 9.1 Introduction     
 9.2 North America     
  9.2.1 US    
  9.2.2 Canada    
  9.2.3 Mexico    
 9.3 Europe     
  9.3.1 Germany    
  9.3.2 UK    
  9.3.3 Italy    
  9.3.4 France    
  9.3.5 Spain    
  9.3.6 Rest of Europe    
 9.4 Asia Pacific     
  9.4.1 Japan    
  9.4.2 China    
  9.4.3 India    
  9.4.4 Australia    
  9.4.5 New Zealand    
  9.4.6 South Korea    
  9.4.7 Rest of Asia Pacific    
 9.5 South America     
  9.5.1 Argentina    
  9.5.2 Brazil    
  9.5.3 Chile    
  9.5.4 Rest of South America    
 9.6 Middle East & Africa     
  9.6.1 Saudi Arabia    
  9.6.2 UAE    
  9.6.3 Qatar    
  9.6.4 South Africa    
  9.6.5 Rest of Middle East & Africa    
       
10 Key Developments      
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 10.2 Acquisitions & Mergers     
 10.3 New Product Launch     
 10.4 Expansions     
 10.5 Other Key Strategies     
       
11 Company Profiling      
 11.1 Viking Life-Saving Equipment     
 11.2 Survitec Group Limited     
 11.3 Fujikura Composites     
 11.4 LALIZAS     
 11.5 Liferaft Systems Australia     
 11.6 MIZUNO MARINE     
 11.7 Zodiac Milpro     
 11.8 Plastimo     
 11.9 Switlik Survival Products     
 11.10 Ocean Safety     
 11.11 Wing Inflatables     
 11.12 Revere Survival     
 11.13 Crewsaver     
 11.14 Arimar     
 11.15 Datrex     
 11.16 SHM Shipcare     
       
List of Tables       
1 Global Marine Life Raft Market Outlook, By Region (2022-2030) ($MN)      
2 Global Marine Life Raft Market Outlook, By Product Type (2022-2030) ($MN)      
3 Global Marine Life Raft Market Outlook, By Inflatable Life Rafts  (2022-2030) ($MN)      
4 Global Marine Life Raft Market Outlook, By Throw-Overboard Life Rafts (2022-2030) ($MN)      
5 Global Marine Life Raft Market Outlook, By Davits-Launched Life Rafts (2022-2030) ($MN)      
6 Global Marine Life Raft Market Outlook, By Self-Righting Life Rafts (2022-2030) ($MN)      
7 Global Marine Life Raft Market Outlook, By Rigid Life Rafts (2022-2030) ($MN)      
8 Global Marine Life Raft Market Outlook, By Capacity (2022-2030) ($MN)      
9 Global Marine Life Raft Market Outlook, By Less Than 5 People (2022-2030) ($MN)      
10 Global Marine Life Raft Market Outlook, By 5 to 10 People (2022-2030) ($MN)      
11 Global Marine Life Raft Market Outlook, By 10 to 18 People (2022-2030) ($MN)      
12 Global Marine Life Raft Market Outlook, By More Than 18 People (2022-2030) ($MN)      
13 Global Marine Life Raft Market Outlook, By Material (2022-2030) ($MN)      
14 Global Marine Life Raft Market Outlook, By Polyurethane Coated Fabric (2022-2030) ($MN)      
15 Global Marine Life Raft Market Outlook, By Polyvinyl Chloride (PVC) (2022-2030) ($MN)      
16 Global Marine Life Raft Market Outlook, By Hypalon (2022-2030) ($MN)      
17 Global Marine Life Raft Market Outlook, By Neoprene (2022-2030) ($MN)      
18 Global Marine Life Raft Market Outlook, By End User (2022-2030) ($MN)      
19 Global Marine Life Raft Market Outlook, By Commercial Marine (2022-2030) ($MN)      
20 Global Marine Life Raft Market Outlook, By Passenger Ships (2022-2030) ($MN)      
21 Global Marine Life Raft Market Outlook, By Cargo Ships (2022-2030) ($MN)      
22 Global Marine Life Raft Market Outlook, By Fishing Vessels (2022-2030) ($MN)      
23 Global Marine Life Raft Market Outlook, By Defense and Military (2022-2030) ($MN)      
24 Global Marine Life Raft Market Outlook, By Offshore Oil and Gas (2022-2030) ($MN)      
25 Global Marine Life Raft Market Outlook, By Recreational Boating (2022-2030) ($MN)      
26 Global Marine Life Raft Market Outlook, By Emergency Response & Rescue (2022-2030) ($MN)      
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.       

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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