WILMINGTON, Del., May 24, 2024
/PRNewswire/ -- Allied Market Research published a report, titled,
"Diving Equipment Market by Type (BCD and Regulator, Cylinder
and Diving Propulsion Vehicle, Decompression Chamber, Exposure
Suit, Accessories), and Distribution Channel (Specialty Store,
Online, Others): Global Opportunity Analysis and Industry Forecast,
2024-2035". According to the report, the "diving equipment
market" was valued at $3.5 billion in
2023, and is estimated to reach $8.1
billion by 2035, growing at a CAGR of 7.5% from 2024 to
2035.
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Prime determinants of growth
The increasing interest in adventure sports is driving the
growth of the diving equipment market. However, the growth of the
diving equipment market is restricted by regulatory challenges. On
the other hand, online retail presents remunerative opportunities
for the expansion of diving equipment during the forecast
period.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2035
|
Base Year
|
2023
|
Market Size in
2023
|
$3.5 Billion
|
Market Size in
2035
|
$8.1 Billion
|
CAGR
|
7.5 %
|
No. Of Pages in
Report
|
250
|
Segments
Covered
|
Type And Distribution
Channel
|
Drivers
|
- Increasing Interest in Adventure Sports
- Growing Awareness of Marine Conservation
- Technological Advancements
|
Opportunities
|
- Eco-Friendly Equipment
- Online Retail
|
Restraints
|
- Regulatory Challenges
- Safety Concerns
|
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The BCD & regulator segment to maintain its leadership
status throughout the forecast period.
By type, the BCD & regulator segment held the highest market
share in 2023, accounting for nearly one-third of the diving
equipment market share and is estimated to maintain its leadership
status throughout the forecast period. Regulators provide steady
air flow, whereas BCDs provide accurate buoyancy control. Globally,
there is a tendency in the industry towards smaller, more portable
designs that prioritize functionality and ease of use for scuba
divers. The exposure suit segment showcases the fastest CAGR of
8.4% during the forecast period. The market for diving equipment
has a variety of exposure suits made to fit the needs of divers.
Divers can pick from suits composed of neoprene, rubber, or
membrane materials, with wetsuits offering warmth and flexibility
in moderate waters and dry suits for cold and harsh circumstances.
Lightweight, robust solutions that address a variety of underwater
difficulties continue to be innovative.
The specialty store segment to maintain its leadership status
throughout the forecast period.
By distribution channel, the specialty store segment held the
highest market share in 2023, accounting for two-fifths of the
diving equipment market revenue and is estimated to maintain its
leadership status throughout the forecast period. Specialty stores
provide everything a diver needs, from innovative regulators to
environmentally friendly wetsuits. All underwater explorers expect
a deep-sea trip in this sector, which is defined by cutting-edge
technology, eco-friendly materials, and individualized service. The
online segment, however, showcases the fastest CAGR of 8.0% during
the forecast period. From masks and fins to sophisticated dive
computers and underwater cameras, the online channel provides a
wide range of equipment for enthusiasts. Well-known websites like
LeisurePro and DiveInn make a large assortment easily accessible to
both beginner and experienced divers. Guides and reviews help make
well-informed decisions when planning diving excursions.
Asia-Pacific to maintain its
dominance by 2035.
Based on region, Asia-Pacific
held the highest market share in terms of revenue in 2023 and is
likely to dominate the market during the forecast period. However,
this region is expected to witness the fastest CAGR of 8.4% from
2024-2035. The growing popularity of water activities and travel is
fueling the growth of the diving equipment market in Asia-Pacific. Key markets include Australia, Japan, and Thailand, where there is a growing need for
regulators, fins, masks, and wetsuits. Innovations in
environmentally friendly, lightweight gear are also becoming more
popular, which is indicative of a move towards sustainability.
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Strategies:
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Leading Market Players: -
- American Underwater Products, Inc.
- Aqua Lung International
- Johnson Outdoors Inc.
- Mares S.p.A.
- Poseidon Diving System AB
- Cressi Sub S.p.A.
- Beuchat
- AQUATEC - DUTON INDUSTRY CO., LTD.
- H2Odyssey
- Dive Rite
The report provides a detailed analysis of these key players in
the diving equipment market. The report is valuable in highlighting
business performance, operating segments, product portfolio, and
strategic moves of market players to showcase the competitive
scenario.
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