5 Major Insights Into The Scuba Diving Equipment Market Report 2023
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The Business Research Company’s Scuba Diving Equipment Global Market Report 2023 offers crucial insights into the scuba diving equipment market help businesses analyse and build stronger strategies.
The scuba diving equipment market is making waves, poised to grow from $4.19 billion in 2022 to $4.39 billion in 2023, projecting a compound annual growth rate (CAGR) of 4.9%. As we plunge into the details, the rise in the popularity of water sports emerges as a key driver, propelling the market forward. Let’s explore the currents shaping this market and the trends that are buoying its growth.
Riding the Tide of Water Sports’ Popularity
Water sports have become a global sensation, encompassing a range of activities from swimming to surfing. The surge in popularity of water sports, as indicated by the Watersports Participation Survey 2021, has a direct impact on the scuba diving equipment market. In the UK alone, boating activities saw a significant uptick, with 11.7 million individuals participating 1 or 2 times in 2021, almost doubling from 6.3 million in 2020. The appeal of water sports is a catalyst for the increased adoption of scuba diving equipment, including rash guards, wet suits, hoods, boots, gloves, and earplugs, enhancing both protection and comfort during these activities.
Key Players Beneath the Surface
In this thriving market, major players are making a splash, each contributing to the industry’s growth. Johnson Outdoors Inc., Aqua Lung International, Suunto, and others are instrumental in providing the diverse array of scuba diving equipment demanded by enthusiasts. The competitive landscape is marked by innovation and a commitment to meeting the evolving needs of the diving community.
Diving Green: The Rise of Eco-Friendly Wetsuits
An emerging trend making waves in the scuba diving equipment market is the introduction of eco-friendly wetsuits. Aqualung, a prominent player in the sector, took a significant step by launching the Xscape 3/4mm Wetsuit in April 2021. This eco-friendly suit, designed for water temperatures ranging from 20 to 28 degrees Celsius, boasts four-way flexibility, making it ideal for various ocean sports. What sets it apart is its construction entirely from non-neoprene fibers, ensuring comfort underwater while aligning with the growing consumer demand for sustainable products.
Segmentation: Understanding the Depths of the Market
To comprehend the nuances of the scuba diving equipment market, it is essential to consider its segmentation:
- By Type: BCD (Buoyancy Control Device) And Regulator, Cylinder And Diving Propulsion Vehicle, Decompression Chamber, Exposure Suit, Accessories
- By Depth: Recreational Diving, Clearance Diving, Saturation Diving
- By Distribution Channel: Specialty Store, Online Store
This segmentation reflects the diverse demands of the market, from the specific equipment types to the various depths and preferred channels of purchase.
North America: A Deep Dive into Market Leadership
In 2022, North America took the lead as the largest region in the scuba diving equipment market. The region’s prominence in the market can be attributed to a robust diving culture, a high level of awareness, and a strong presence of key market players. As the market continues to evolve, understanding regional dynamics becomes crucial for industry players to tailor their strategies effectively.
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The Scuba Diving Equipment Global Market Report 2023 provides a comprehensive outlook of the scuba diving equipment market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The scuba diving equipment market forecast offers a thorough analysis on scuba diving equipment market size, scuba diving equipment market share, prominent players and their strategies.
The Table Of Content For The Scuba Diving Equipment Market Include:
1. Scuba Diving Equipment Market Executive Summary
2. Scuba Diving Equipment Market Segments
3. Scuba Diving Equipment Market Size And Scuba Diving Equipment Market Growth Rate
4. Key Scuba Diving Equipment Market Trends
5. Major Scuba Diving Equipment Market Drivers
25. Key Mergers And Acquisitions In The Scuba Diving Equipment Market
26. Top Scuba Diving Equipment Companies
27. Scuba Diving Equipment Market Opportunities And Strategies
28. Scuba Diving Equipment Market, Conclusions And Recommendations
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