Diving Equipment Market Soars: Expected to Reach$6.7 Billion by 2028, CAGR of 9.0%

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Diving Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.7 billion In 2028 At A CAGR Of 8.9%:

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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Diving Equipment Market Major Segments
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

Key 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.

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Prominent Trend - Eco-Friendly Solutions Ride The Crest Of Diving Equipment Trends

The introduction of eco-friendly wetsuits has emerged as the key trend gaining popularity in the diving equipment market. Major companies operating in the diving equipment sector are focused on eco-friendly products to reinforce their position and meet consumer demand. For instance, in 2021, Aqualung, a US-based company that manufactures diving equipment, launched an eco-friendly wetsuit named 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 amazing four-way flexibility, making it suitable for all ocean sports. It is made entirely of non-neoprene fibers, making swimming quite comfortable underwater.

Diving Equipment Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the diving equipment market in 2023. North America is expected to be the fastest-growing region in the diving equipment market during the forecast period. The regions covered in the diving equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Diving Equipment Market Report Structure
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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