Diving Equipment Market was valued at USD 3640.2 Million in 2019 and is projected to reach around USD 5295.3 Million by 2025, at a CAGR of 5.5% during the forecast period. The base year considered for the study is 2018 and the forecast period is 2019-2025. Growing demand for professional divers in oil & gas industry is one of the major factors drive the diving equipment market globally.
Diving equipment’s are used by underwater divers to make diving activities possible, easier, safer and extra comfortable. Some important diving equipment’s are, scuba equipment and surface supplied diving equipment. Diving equipment are used for make diving safer, more suitable or more efficient. Moreover, diving equipment’s are used by recreational scuba divers is mostly personal equipment carried by the diver, but professional divers use particularly when operating in the surface supplied or saturation mode, use a large amount of support equipment.
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Global diving equipment market report is segmented on the basis of type, distribution channel, end user and regional & country level. Based upon type, global diving equipment market is segmented into BCD & regulator, cylinder & diving propulsion vehicle, decompression chamber, exposure suit, accessories, and others. By distribution channel, global diving equipment market is segmented into specialty store, online and others. By end-user, global diving equipment market is segmented into military & defense, mining, oil & gas industry, dredging and others.
Some major key players for global Diving Equipment market are Cobhamplc, Dragerwerk AG & Co. KGaA, Divex Ltd., American Underwater Products, Aqua Lung International, Honeywell International, Inc., Apollo Military, Atlantis Dive, Johnson Outdoors, Submarine Manufacturing & Products Ltd, Henderson Aquatics, MARES, James Fisher, SMP, Haux-life-support, Royal IHC, SeaNet SA, Northern Diver Military, Comanex and others.
The regions covered in this Diving Equipment Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Diving Equipment is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Increasing popularity of water sports, growth in disposable income and expenditure in recreational activities in emerging nations are the key factors drive the market growth for diving equipments. In addition, the growth in tourism industry in seaside countries is also anticipated one of the factors supplements the diving equipments market growth within the forecast period. But limited range of platforms for diving equipment and incidence of several diving accidents might hinder the growth of the market. However, the growing trend of professional diving for underwater recording & documentary creation, along with surging preference for water sports are anticipated to provide profitable opportunities for the market diving equipment in the coming future.
The North American region is expected to dominate the diving equipment market due to technological developments for the diving equipment and high disposable income to spend on recreational activities in this region. For instance; in 2016, there were around 3.11 million participants in scuba diving in the U.S., down from 3.27 million the previous year.
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Asia Pacific region diving equipment market is likely to grow at the significant CAGR owing to the numerous creativities connected to dive tourism and marine-related research activities, this activity require frequent dives. In addition, increase in government spending for research and development initiatives and increase in disposable income in emerging nations such as India, China, Indonesia, Philippines, and Thailand experience rush in the number of diving activities, are also expected to foster the market growth in this region over the forecast period.
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