Press release
Diving Equipment Market Outlook 2024: Exclusive Report By The Business Research Company|Cobham plc, IST Sports Corp., Johnson Outdoors Inc., Mares Italia S.p.A.
Diving Equipment
The Business Research Company offers in-depth market insights through 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 diving equipment market size has grown strongly in recent years. It will grow from $4.36 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to tourism and leisure activities, safety standards and regulations, military and defense applications, environmental awareness, diving industry growth.
The diving equipment market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to adventure tourism trends, safety and training standards, health and wellness trends, environmental conservation, global market expansion, changing consumer preferences. Major trends in the forecast period include technological integration, technological advancements, rise in recreational diving, sustainability and eco-friendly design, underwater photography and videography.
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Market Segmentation:
The diving equipment market covered in this report is segmented -
1) By Type: Rebreather, Cylinders And Propulsion Vehicle, Decompression Chamber, Exposure Suits, Accessories, Other Types
2) By Depth: Recreational Diving, Clearance Diving, Saturation Diving
3) By End-User: Oil And Gas Industry, Naval Industry, Aquaculture Industry, Others End Users
4) By Distribution Channel: Specialty Store, Online, Other Distribution Channels
Major Driver - The Rising Popularity Of Water Sports Fuels Diving Equipment Market Growth
The increase in the popularity of water sports is expected to propel the growth of the diving equipment market going forward. Water sports refers to a type of sports that are played or practiced on the water. These include sports such as swimming, water polo, and surfing. Diving equipment is usually used in water sports to protect the body and make it more comfortable to participate in the water sport. Rashguard, Wet suit, hoods, boots, gloves, and earplugs are some of the diving equipment used while playing scuba water sport. For instance, according to World Aquatics, formerly known as FINA, a Switzerland-based international water sports competition administrator, the 19th FINA World Championships in Budapest 2022 featured 2,000 athletes from 180 countries. In 2023, the World Aquatics Championships in Fukuoka attracted 2,392 athletes representing 194 countries, highlighting global enthusiasm for aquatic sports. Therefore, the increase in the popularity of water sports is driving the growth of the diving equipment market.
Competitive Landscape:
Major companies operating in the diving equipment market report are Cobham plc, IST Sports Corp., Johnson Outdoors Inc., Mares Italia S.p.A., Suunto Oy, H2Odyssey Corporation, Tabata Co. Ltd., Dive Rite Systems International LLC, SeaQuest International LLC, Honeywell International Inc., Huish Outdoors LLC, BOWMAN HOLLIS Manufacturing Inc., Body Glove International, Zeagle Systems Inc., Poseidon Sweden AB, Cressi Sub SpA, Henderson Aquatics LLC, Atlantis Dive Center, Apeks Valves Ltd., Tusa Sport Co. Ltd., Diving Unlimited International Inc., Atomic Aquatics LLC, Beuchat International SA, Aqua Lung International, Apollo Sports International, Saekodive Ltd., Aquatec-Duton Industry Co. Ltd., Halcyon Dive Systems Inc., Sherwood Scuba Industries Inc., American Underwater Products Inc.
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Top Trend - Strategic Partnerships Propel Profitability In The Diving Equipment Market
Major companies operating in the diving equipment market are focused on partnerships to increase their profitability in the market. Partnerships in diving equipment are collaborative agreements among manufacturers, suppliers, distributors, and stakeholders to achieve shared objectives like product development, market expansion, or enhancing safety standards. For instance, in March 2023, Sonardyne International Ltd., a UK-based subsea instrumentation manufacturer collaborated with Shearwater Research, a Canada-based manufacturer of technical diving products. They have collaborated to integrate the Shearwater Petrel 2 and DiveCAN with DiveTrack, a durable diver tracking and communication system. The DiveTrack transponder seamlessly integrates with the Shearwater system, enabling comprehensive diver metric monitoring, real-time tank pressure updates, and streamlined communication for enhanced dive safety and training control. This collaboration empowers dive supervisors with improved visibility and efficient management of their dive teams.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Diving Equipment Market Characteristics
3. Diving Equipment Market Trends And Strategies
4. Diving Equipment Market - Macro Economic Scenario
5. Diving Equipment Market Size And Growth
…..
27. 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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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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