Press release
Scuba Diving Equipment Market Size, Share, Outlook, Opportunities, and Strategies: Navigating Market Dynamics
Scuba Diving Equipment Market
The Business Research Company offers in-depth market insights through Scuba Diving Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The scuba diving equipment market size has grown steadily in recent years. It will grow from $4.39 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to post-pandemic recovery, rescue and safety equipment development, accessibility of diving courses, e-commerce penetration, rise in disposable income.
The scuba diving equipment market size is expected to see steady growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to rising demand from emerging economies, sustainability in design and materials, digitalization in diving, health and wellness trends, expansion of dive tourism. Major trends in the forecast period include augmented reality (ar) integration, circular economy initiatives, blockchain for equipment traceability, nanotechnology applications.
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Market Segmentation:
The scuba diving equipment market covered in this report is segmented -
1) By Type: BCD (Buoyancy Control Device) And Regulator, Cylinder And Diving Propulsion Vehicle, Decompression Chamber, Exposure Suit, Accessories
2) By Depth: Recreational Diving, Clearance Diving, Saturation Diving
3) By Distribution Channel: Specialty Store, Online Store
Major Driver - Rising Popularity Of Water Sports To Drive Market Growth
The increase in popularity of water sports is expected to propel the growth of the scuba diving equipment market. Water sports refer to a type of sport that is played or practiced on the water. These include sports such as swimming, water polo, and surfing. Scuba diving equipment, such as rash guards, wet suits, hoods, boots, gloves, and earplugs, are usually used in water sports to protect the body and make it more comfortable to participate in sports activities. For instance, according to Watersports Participation Survey 2021, published by the British Marine, a UK-based marine transportation company, in 2021, 11.7 million individuals reported that they participated in any boating activity 1 or 2 times in the UK, which is almost double compared to 2020 with 6.3 million. Therefore, the increase in the popularity of water sports is driving the growth of the scuba diving equipment market.
Competitive Landscape:
Major companies operating in the scuba diving equipment market report are Johnson Outdoors Inc., Aqua Lung International, Suunto, Marquee Brands, Oceanic Worldwide, Bauer Compressors Inc., Tusa, Scubapro, Apeks Marine Equipment Ltd., Huish Outdoors LLC, Hollis Gear, Zeagle Systems Inc., Sherwood Scuba LLC, Halcyon Manufacturing Inc., Poseidon Diving System AB, Cressi Sub S.p.a, Atomic Aquatics Inc., Aquatec-Duton Industry Co. Ltd., Apollo Sports Inc., Armor Products LLC, Beuchat International SA, Duck Diver LLC, H2Odessey, IST Sports Corp., Mares S.p.A, Seasoft Scuba Inc., Dive Rite.
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Top Trend - Product Innovations Transforming The Scuba Diving Equipment Market
The introduction of eco-friendly wetsuits is a key trend gaining popularity in the scuba diving equipment market. Major companies operating in the scuba diving equipment sector are focused on introducing eco-friendly products to strengthen their position and meet consumer demand. For instance, in April 2021, Aqualung, a US-based company that manufactures scuba diving equipment, launched an eco-friendly wetsuit named the Xscape 3/4mm Wetsuit. This 3/4mm suit is suitable for diving in water temperatures ranging from 20 to 28 degrees Celsius, and it also has terrific four-way flexibility, making it ideal for all ocean sports. It is made entirely of non-neoprene fibers, making swimming quite comfortable underwater.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Scuba Diving Equipment Market Characteristics
3. Scuba Diving Equipment Market Trends And Strategies
4. Scuba Diving Equipment Market - Macro Economic Scenario
5. Scuba Diving Equipment Market Size And Growth
…..
27. Scuba Diving Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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