According to Technavio’s latest market research study, the global wetsuits market is expected to grow at a CAGR of close to 5% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global wetsuits market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
Global full wetsuits market: Full wetsuits provide protection to the entire body and are best-suited for cold water surfers. These wetsuits allow individuals to stay in adverse weather conditions for long. Some wetsuits come with attached hoods as well. 2/3 mm full wetsuits are ideal for board sports and snorkeling in temperatures around 15⁰C and scuba diving in temperatures around 25⁰C. On the other hand, 4/5/6mm wetsuits are ideal for board sports and snorkeling in temperatures around 10⁰C and scuba diving in temperatures around 20⁰C.
“Water sports enthusiasts who explore different sports in various climatic conditions need to invest in multiple wetsuits, this gives vendors an advantage. With technologically enhanced products and best in-class raw materials used to manufacture these wetsuits, vendors have the ability of charging a premium and garner better profitability margins,” says Brijesh Choubey, a lead analyst at Technavio for research on apparel and textile.
Global short wetsuits market: Short wetsuits, unlike full wetsuits, do not provide full-protection to the body. They are ideal for warm water surfing. The industry analysts at Technavio anticipate the global short wetsuits market to account for a revenue of almost USD 779 million by the end of the forecast period.
Global wetsuits market by others: The others segment includes wetsuit tops, wetsuit vests, wetsuit jackets, rash guards, and other accessories. Wetsuit tops are designed to cover the diver till the upper waist. These tops can either have short sleeves or long sleeves. They are usually made from thin layers of neoprene measuring about 0.5-1.5 mm. Wetsuit vests are similar to wetsuit tops with the only difference that the former category offers better thickness. Full-sleeved wetsuit jackets keep the user warm in comparison with wetsuit vests.
The top vendors operating in the global wetsuits market are:
- Billabong
- O’Neill
- Patagonia
- Quiksilver
- Rip Curl
Other prominent vendors in the market include Body glove, Buell Wetsuits, Cressi, C-Skins, Helly Hansen, Mares, Musto, SCUBAPRO, and Xcel.
A more detailed analysis is available in the Technavio report titled, ‘Global Wetsuits Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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