The global marine life raft market is projected to grow from USD 1,371.32 million in 2025 to USD 2,032.30 million by 2034, registering a compound annual growth rate (CAGR) of 4.54% during the forecast period.
Growing awareness of maritime safety, increased commercial shipping activities, and government-led safety initiatives are key drivers of this growth. Additionally, the adoption of biodegradable materials for life raft production is creating new opportunities for manufacturers.
Life rafts, available in both inflatable and rigid formats, are essential emergency equipment for ships, ferries, offshore oil rigs, and leisure vessels. They are typically made from PVC, Hypalon, or neoprene, with capacities ranging from 6 to over 20 people.
Key Market Highlights
-
North America held the largest revenue share in 2025.
-
Asia Pacific is forecast to grow at a significant pace due to rising shipping activities.
-
Inflatable life rafts were the top product segment in 2025.
-
PVC was the dominant material type.
-
Commercial shipping was the leading application segment.
Download a Sample of Our Market Intelligence: https://www.towardsautomotive.com/download-sample/1356
Market Trends in 2025
Partnerships
Collaboration between shipbuilders and life raft manufacturers is increasing to deliver advanced, regulation-compliant safety vessels.
Business Expansions
Companies are establishing new production facilities to meet rising demand, particularly in Asia Pacific and the Middle East.
Rising Maritime Incidents
Growing incidents of cruise and cargo ship accidents are prompting stricter safety compliance, boosting demand for life rafts.
Segment Insights
By Type
-
Inflatable Life Rafts: Dominated the market due to portability, ease of storage, and advanced safety features like canopies, emergency kits, and self-righting systems.
-
Rigid Life Rafts: Expected to grow steadily owing to their durability, buoyancy, and suitability for long-term marine applications.
By Material
-
PVC: Led the market thanks to its versatility, recyclability, flame-retardant nature, and cost-effectiveness.
-
Hypalon: Poised for strong growth due to superior UV resistance, abrasion resistance, and longevity.
By Application
-
Commercial Shipping: Largest market segment, driven by demand from logistics, e-commerce, and passenger shipping companies.
-
Oil & Gas: Anticipated to expand significantly with offshore energy investments and adoption of advanced safety equipment.
Regional Insights
North America
North America maintained market leadership in 2025 due to a combination of luxury cruise adoption, maritime safety regulations, and a strong presence of industry leaders such as Safe Marine, Revere Survival Products, and West Marine Pro.
-
In April 2025, West Marine Pro launched a mobile app for streamlined ordering of marine parts in the U.S.
Asia Pacific
The region is set for high growth, supported by the booming shipping sector in China, Japan, India, and South Korea.
-
In January 2025, ASK Ningbo opened a manufacturing plant in Zhejiang, China, to increase life raft production.
Invest in Our Premium Strategic Solution: https://www.towardsautomotive.com/price/1356
Competitive Landscape – Company Profiles
Survitec
About: A global leader in survival and safety solutions, providing marine, defense, and aviation safety products.
Products: Inflatable life rafts, evacuation systems, fire safety systems.
Market Cap: Privately held company, market value undisclosed.
Viking Life-Saving Equipment
About: Denmark-based safety equipment manufacturer serving marine, offshore, and defense sectors.
Products: Life rafts, lifejackets, evacuation systems, PPE.
Market Cap: Privately held, estimated revenue exceeding USD 500 million annually.
Ocean Safety
About: UK-based specialist in marine safety products and services.
Products: Life rafts, man-overboard recovery systems, personal safety gear.
Market Cap: Subsidiary of 3Si Group, privately held.
AirCruiser
About: Known for its aviation and marine safety equipment solutions.
Products: Inflatable life rafts, life vests, evacuation slides.
Market Cap: Operates under the Zodiac Aerospace group, part of Safran SA (Euronext: SAF) with a market cap over USD 40 billion.
HanseLiferaft
About: Specializes in high-quality life rafts and marine safety products.
Products: Inflatable and rigid life rafts, rescue boats, survival kits.
Market Cap: Privately held, niche market presence.
Recent Developments
-
May 2025: Survitec opened a new manufacturing plant in the UAE to boost production capacity.
-
July 2024: Ocean Safety launched the Jon Buoy Recovery Module MK 6 Valise, featuring tailored buoyancy, water stability systems, and integrated boarding assistance.
Frequently Asked Questions
Q1. What is the projected growth rate of the marine life raft market?
The market is expected to grow at a CAGR of 4.54% from 2025 to 2034.
Q2. Which region led the marine life raft market in 2025?
North America held the largest market share in 2025, driven by cruise tourism and safety regulations.
Q3. What materials are commonly used in manufacturing life rafts?
PVC, Hypalon, and neoprene are the primary materials used.
Q4. Which application segment has the highest market share?
The commercial shipping segment accounts for the largest share of the market.
Q5. What are the key factors driving market growth?
Increasing maritime safety regulations, rising shipping activities, technological advancements, and eco-friendly manufacturing practices.
Source : https://www.towardsautomotive.com/insights/marine-life-raft-market-sizing
Access our exclusive, data-rich dashboard dedicated to the respective market built specifically for decision-makers, strategists, and industry leaders. The dashboard features comprehensive statistical data, segment-wise market breakdowns, regional performance shares, detailed company profiles, annual updates, and much more. From market sizing to competitive intelligence, this powerful tool is one-stop solution to your gateway.
Access Now: https://www.towardsautomotive.com/contact-us
Become a Valued Research Partner with Us – Schedule a meeting: https://www.towardsautomotive.com/schedule-meeting
Request a Custom Case Study Built Around Your Goals: sales@towardsautomotive.com
About Us
Towards Automotive is a leading research and consulting firm specializing in the global automotive industry. We deliver actionable insights across key segments such as electric vehicles (EVs), autonomous driving, connected cars, automotive software, aftermarket services, and more. Our expert team supports both global enterprises and start-ups with tailored research on market trends, technology, and consumer behavior. With a focus on accuracy and innovation, we empower clients to make informed decisions and stay competitive in a rapidly evolving landscape.
Stay Connected with Towards Automotive:
- Find us on Social Platforms: LinkedIn | Twitter | Instagram
- Subscribe to Our Newsletter: Towards AutoTech
- Read Our Printed Chronicle: Automotive Web Wire
- APAC: +91 9356 9282 04 | Europe: +44 778 256 0738 | North America: +1 8044 4193 44
Our Trusted Data Partners
Precedence Research | Statifacts | Towards Packaging | Towards Healthcare | Towards Food and beverages | Towards Chemical and Materials | Towards Consumer Goods | Towards Dental | Towards EV Solutions | Nova One Advisor | Healthcare Web Wire | Packaging Web Wire | Automotive Web Wire | Tumbler | Bloglovin | Medium | Hashnode | Pinterest