Global Immersion Suits Market: Overview
Immersion suits market has rejuvenated in the recent past owing to its widened application area. While the demand for immersion suits in newer application areas such as in board commercial vessels have surged, the manufacturers have positively responded to it by adding new features in their products. Immersion suits market is largely dominated by the European countries, while the demand in developing clusters is on the rise.
The immersion suits market is consolidated, and with the R&D focus of prominent players, the opportunities in the market are expected to largely benefit the Tier 1 players. The Tier 1 players have embedded multiple utilities in their products such as fire resistance, shock resistance etc. to make their offering versatile.
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Increasing survival time of the immersion suit is the key strategy of Tier 1 players
Compared to other applications, the demand for immersion suits in oil rigs is rising drastically. Hypothermia is a crucial reason for death in the sea, resulting in more than 800 fatalities every year. Immersion suits are one-piece wearable suits primarily used for survival from hypothermia and other deadly scenarios. According to Diego Jacobson, CEO of White Glacier “With the rising trading routes in Arctic terrains, these accidents are expected to increase over the forecast period.”
Manufacturers operating in the immersion suits market are focused on increasing survival time of the suit. Immersion suits can withstand and save a person with more than 19 hours from normal disaster conditions. A basic immersion suit can resist four seconds of flame, and more advance suit can even resist flame for 10 seconds. Moreover, the immersion suits are made from high-quality neoprene and polyester for increasing its quality and saving one’s life. However, the low replacement rate of product likely hamper the market growth at a moderate level.
Immersion suits market anticipated to grow with high single digit CAGR over the forecast period
The global market of immersion suits is likely to experience substantial growth during the forecast period, owing to the increasing demand of these suits by professional water rescuers and internal Arctic route users. The immersion suits market is dominated by Europe, and it is likely that the region will retain its dominance throughout the forecast period.
The immersion suits markets in North America and East Asian countries are expected to grow at a moderate pace. Countries such as the Japan, Canada, France, China, US and Russia are expected to significantly propel the demand for immersion suits over the forecast period. Key players in the immersion suits market are focused on developing versatile immersion suits, which can restore body temperature within 10 minutes form immersion in the extremely cold water. To keep-up with the market emerging player are also adding pre-lubricated zippers which requires zero maintenance.
Increasing initiatives form IMO to fuel the market growth
International Maritime Organization (IMO) is the United Nations specialized agency, which is responsible for security and safety of shipping and the prevention of atmospheric and marine pollution by ship. The organization have strict rules for carrying one immersion suit in every vessel. Such initiatives are increasing the volume sales of the immersion suits rigorously. Moreover, immersion suits should be approved in accordance with IMO Res.MSC.81(70), which provides quality assurance for the consumers. The increasing number of navy fleets and ferries are expected to increase the demand for immersion suits significantly.
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Global Immersion suits Market: Segmentation
The immersion suits market has been segmented into different parts based on product type, material type, application and region.
Based on product type, the immersion suits market is segmented into:
Based on material type, the immersion suits market is segmented into:
Based on application, the immersion suits market is segmented into:
- Oil Rigs
- Professional Water Rescue
- Paddle Sports
Based on region, the immersion suits market is segmented into:
- North America
- Latin America
- East Asia
- South Asia
Global Immersion suits Market: Key Players
In the global immersion suits market, key manufacturers are focused on increasing protection hours of immersion suits. Many manufacturers are introducing versatile suits with fire resistance ability, which will be useful for oil & gas industry workers. Some key market participants are Jiaxing Rongsheng Lifesaving Equipment, Wuxi Xingtai Shipping Equipment, Hwayan, Euro Asia Mfg Co Ltd., Hansen Protection, Rubex Group, White glacier, Marine Safety Services, Inc., Sea Safety International, Inc., Air-Sea Safety & Survival, Inc., Scandia Gear Europe B.V., RMS Marine Service Company Ltd., among other prominent players.
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