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Latest Report Details on Wetsuits Market Size & Share, Growth, Trends and Forecast 2017 - 2025
The main objective of this report is to define, describe, and forecast the global “Wetsuits” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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A wetsuit is a garment worn by surfers, canoeists, and others engaged in water sports and activities carried out under water or on water. Wetsuits are usually made of foamed neoprene bubbles, which provide thermal insulation, abrasion resistance, and buoyancy. Insulation properties depend on bubbles of gas bounded in the material, which helps to reduce the thermal conductivity of the wetsuits. Wetsuits are primarily used for thermal insulation when the user is submerged in water since the water may be too cold and uncomfortable for the user’s body.
The wetsuit market is driven by the increase in water sports and recreational activities. People with higher disposable income are likely to invest in premium quality sports goods. New innovations in wetsuits and the advancement in technology significantly impact the market, thereby boosting the demand for different types of wetsuits. Manufacturers are striving to launch new product lines made up of using advanced technology and high quality fabrics. Growth in participation of women in water sports is also anticipated to boost the demand for wetsuits. Novel technologies in artificial waves and wave parks are estimated to propel the surfing and aligned industry. However, dry suits offer many benefits. They are safer than wetsuits. They also provide warmth, versatility, and are lower in weight. This can restrain the wetsuit market.
Based on application, the wetsuits market can be segmented into surfing, underwater diving, sailing, river rafting, white water kayaking, sea rescue operations, endurance swimming, and water skiing. Wetsuits are primarily sued in water sports, as the suit must be lightweight to provide comfort to the user who is under water. Waterproof clothes with properties such as thermal padding and breathability are required in water sports.
Based on sports, the wetsuit market can be bifurcated into water sports and wind sports. Wetsuits are used by deep-sea divers, windsurfers, canoeists, surfers, triathletes, and others who are involved in water and wind-related sports activities. Wetsuits provide excellent comfort and flexibility to users.
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In terms of geography, the wetsuits market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the wetsuits market in terms of consumption during the forecast period. Asia Pacific is also expected to be a key region of the wetsuits market due to the increase in popularity of water sports and wind-based sports and related activities in the region. Furthermore, India and China are estimated to offer lucrative opportunities for manufacturers of wetsuits due to the presence of favorable government initiatives encouraging water sports.
Key players operating in the wetsuits market are O'Neill, Inc., Quiksilver Inc., Billabong International Limited, Aqua Lung, Gullewa Limited, Shieco Group. Co., Ltd, and Patagonia Capital Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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This report studies the Wetsuits market status and outlook of global and major regions, from angles of manufacturers, regions, product types and end industries; this report analyzes the top manufacturers in global and major regions, and splits the Wetsuits market by product type and applications/end industries.
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