Scuba diving equipment: Key market research findings
- Increasing interest in water sports to propel growth in the market
- Scuba diving apparels to account for a majority of the market’s revenue
- Key vendors – American Underwater Products, Aqua Lung International, Johnson Outdoors, Mares, and Sherwood Scuba
Technavio’s market research analysts predict the global scuba diving equipment market to grow at a CAGR of around 4% between 2016 and 2020. The increased interest in water sports is the primary factor augmenting the demand for scuba diving equipment across the globe. Recently, there has been an increased emphasis on water sports by many government bodies in an attempt to increase the revenue generated by the tourism industry across the globe. Changing demographics and lifestyles coupled with an increase in disposable income and recreational expenditures will play a key role in increasing the popularity of outdoor sporting activities like scuba diving. During 2015, the Americas accounted for around 57% of the total market space and will retain its market position by the end of 2020. Increasing awareness of the benefits of a healthy lifestyle and the growing number of scuba divers are some of the factors that will result in the growth of the scuba diving equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the scuba diving equipment segments based on the product.
“In this market, there has been a noticeable increase in the demand for eco-friendly scuba diving equipment. Organic, water-based adhesives, and recycled plastic materials are replacing the traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials, which are used as raw materials for these products. Vendors are also making use of the newly developed non-toxic material called thermoplastic elastomer in the production of such equipment,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
Currently, the apparel segment dominates the global scuba diving equipment market, accounting for around 46% of the total market share. Scuba diving apparel includes wetsuits, drysuits, buoyancy control devices (BCDs), and masks. Wetsuits are generally made of neoprene and other neoprene-based proprietary materials like thermoprene, hyperstretch, or titanium, and are intended to keep the diver warm by trapping a small amount of water between the suit and the diver’s skin. Drysuits, on the other hand, are ideal for both cold and warm waters and are designed to provide divers with advanced thermal protection.
The key vendors in the market include American Underwater Products, Aqua Lung International, Johnson Outdoors, Mares, and Sherwood Scuba. Rapid technological changes and consumer preferences in the scuba diving equipment market along with the inflow of private labels have increased the level of competition in the market. Consequently, vendors need to produce technologically advanced and innovative products and distinguish their offerings to sustain themselves in the market.
A more detailed analysis is available in the Technavio report, Global Scuba Diving Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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