DUBLIN, Dec. 23, 2020 /PRNewswire/ -- The "Diving Suit Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The diving suit market by revenue is expected to grow at a CAGR of over 4% during 2021-2026.
The global market is witnessing a slew of innovations and technological developments. Over the years, the diving industry has observed advanced technology, aiming to increase safety and security.
Modern scuba kits are consistently evolving as new equipment and apparatus are emerging in the market. New technology is now making diving attractive to a wide range of people. The use of technology is not only limited to breathing equipment but also dive wear. Vendors have started manufacturing drysuits designed with revolutionary materials such as stockinette fabric coated with vulcanized rubber. These materials are not only lightweight but provide improved flexibility, safety, and warmth while deep-sea diving. Hence, increasing innovations in materials and applying new applications in suits are likely to drive the market.
The following factors are likely to contribute to the growth of the diving suit market during the forecast period:
Technological Development in Dive wear
Growth in Coastal Tourism
Establishment of Diving Centers
Adoption of Diving Kits in Water-based Activities
The study considers the present scenario of the diving suit market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Diving Suit Market Segmentation
This research report includes a detailed segmentation by product, end-user, buyers, price, fabric, distribution, geography. Wet and semi-wet suits are largely used in free, scuba, skiing, boating, kayaking, treasure suit, cave diving, and other water sports-related activities. The demand for diving suits is expected to surge due to the increasing interest in water events and the growing number of centers. The rise in underwater explorations and expeditions to study marine life is propelling diving suit demand. The APAC semi-dry suit market is expected to grow at a significant rate during the forecast. APAC is anticipated to emerge as a profitable region for semi-dry suits. Moreover, the growing number of wave parks and artificial waves is expected to provide significant industry growth opportunities.
In terms of material, the neoprene segment is likely to dominate the market as the material is the main component of wetsuit outfits worn by surfers, divers, and other water sport enthusiasts. North America contributed 42% revenue share of the neoprene fabric segment and is expected to observe an incremental growth of over $45 million during 2021-2026. Although the demand for double-backed neoprene is growing, singled-backed neoprene continues its usage for several specific purposes. Rubber suits are conventional and are suited for commercial diving. However, with consistent product innovation and changing consumer requirements, the market is likely to decline during the forecast period.
The institutional segment is expected to generate over $488 million by 2026 on account of the growth in centers and diving certification institutes. Institutional buying is also increasing as people across the world are exploring water sporting activities. Besides, the growing number of water adventure parks, including artificial waves, increasing diving facilities, and water-based activities at resorts, are the key drivers for the institutional segment's growth.
Low and moderately-priced diving suits constitute the major revenue segments in the global diving suit market. These outfits are used in recreational activities such as surfing, kayaking, canoeing, skiing, free scuba, and other water-based activities. Emerging countries with diving destinations such as French Polynesia, Malaysia, Cuba, Oman, Norway, and Tanzania are becoming the most potential markets. Oman is gaining popularity in the Middle East & Africa region. The moderately-priced segment is expected to reach a revenue of over $418 million by 2026. The increased tourist participation in water-based activities such as scuba, snorkeling, and other activities is likely to increase moderately-priced suits' demand. The high priced segment is witnessing popularity among divers as specialized suits offer added features such as sealing, stitching, and flexibility.
Water sports activities are becoming part of national and international games, surging global diving suit market growth. The rise in water-based activities such as water boating, water skiing, water surfing, scuba, free-diving, and other water surfaces and underwater activities increases the number of diving destinations. Increased activities by research centers and exploration institutes are likely to influence the growth of underwater diving outfits. As the explorer team has to go underwater to conduct physical studies and examine flora and fauna, the demand for specialized outfits is projected to grow.
Key Questions Answered
1. What is the size of the global diving suit market in 2026?
2. Which government regulations are likely to challenge the growth of key market players?
3. What are the major challenges likely to affect the growth of the diving suit market?
4. What are key opportunities for prominent vendors to gain success and profitability?
5. Who are the leading manufacturers in the diving suit market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.1 Impact Of COVID-19
8 Market Opportunities & Trends
8.1 Inclusion Of Advanced Technology In Dive Gear
8.2 Growth Of Coastal Tourism
8.3 Rise In Deep-Sea Exploration And Increase In Naval Admissions
9 Market Growth Enablers
9.1 Establishment Of Diving Centers
9.2 Growing Interest In Watersports
9.3 High Adoption Of Diving Kits In Water-Based Activities
10 Market Restraints
10.1 Marine Disruption Due To Increased Water-Based Activities
10.2 Availability Of Suit Rental Services
11 Market Landscape
11.1 Market Overview
11.2 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Wet Suits
12.5 Semi-Dry Suits
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.4 Hybrid & Others
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Water Sports
14.4 Underwater Activities
14.5 Military & Rescue Operations
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Low Priced Suits
16.4 Moderate Priced Suits
16.5 High Priced Suits
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
18.1 Market Snapshot & Growth Engine
18.2 Geographic Overview
19 North America
19.1 Key Highlights
19.2 Market Overview
19.9 Key Countries
20.1 Key Highlights
20.2 Market Overview
20.9 Key Countries
21.1 Key Highlights
21.2 Market Overview
21.9 Key Countries
21.12 Australia & New Zealand
21.14 South Korea
22 Latin America
22.1 Key Highlights
22.2 Market Overview
22.9 Key Countries
23 Middle East & Africa
23.1 Key Highlights
23.2 Market Overview
23.9 Key Countries
23.10 Gulf Cooperation Council (GCC)
24 Competitive Landscape
24.1 Competition Overview
25 Key Company Profiles
25.1 Johnson Outdoors
25.4 Aqua Lung
26 Other Prominent Vendors
26.1 Diving Unlimited International
26.3 Aquatec (Duton Industry Co., Ltd)
26.4 Sheico Group
26.5 Bare Sports
26.10 Ocean Rodeo
26.12 Henderson Divewear
26.14 Otter Drysuits
26.16 Northern Diver
26.23 Aqualand Limited
26.24 Predator Drysuits
26.29 Typhoon Interntional Limited
26.30 Fourth Element
26.34 Nippon Sensuiki
27 Report Summary
27.1 Key Takeaways
27.2 Strategic Recommendations
28 Quantitative Summary
28.1 Market By Geography
28.2 North America
28.5 Latin America
28.6 Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/37xe40
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