Chan Ye Xin Xi Wang·2025-06-13 01:45Industry Overview - The lifeguard equipment industry is crucial for water safety and is experiencing strong growth driven by government policy support and consumer upgrades [1][13] - The market size of China's lifeguard equipment industry is projected to grow from 13.7 billion yuan in 2018 to 20.891 billion yuan in 2024, with a compound annual growth rate (CAGR) of 7.29% [1][13] - Increasing urbanization and rising awareness of water safety are expected to further boost market growth [1][11] Industry Development History - The development of China's lifeguard equipment industry began in the 1950s, initially focusing on manual production with limited product variety [5] - The industry saw rapid growth from the 1980s to 1990s due to the rise of water recreational activities, leading to increased demand and competition [5] - Since the 21st century, the industry has matured, with improved technology and a focus on international markets [5] Industry Chain - The lifeguard equipment industry chain consists of upstream raw material suppliers, midstream manufacturers, and downstream sales and service [7] - Key raw materials include synthetic rubber, plastics, and fibers, which are essential for producing lifeguard equipment [9] Current Market Status - The lifeguard equipment market is expanding rapidly, with traditional products like life jackets and rings maintaining a dominant market position [14][16] - The life jacket market is expected to reach approximately 7.939 billion yuan by 2024, driven by increasing demand from water sports and fishing [14] - The life ring market is projected to grow to about 5.223 billion yuan by 2024, with innovations in materials and technology enhancing product features [16] Competitive Landscape - The industry features a diverse competitive landscape, including state-owned enterprises, private companies, and foreign firms [19] - Major players include China Shipbuilding Industry Corporation, Tianhai Defense Technology, and various regional manufacturers [20][21][23] Future Trends - The industry is shifting towards environmentally friendly materials, with a focus on biodegradable and recyclable products [25] - Smart technologies are being integrated into lifeguard equipment, enhancing safety features and user experience [26] - There is a growing demand for personalized and customizable lifeguard equipment to cater to specific user needs and preferences [27]