The Diving Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Diving Equipment Global Market Report 2024, The diving equipment market size has grown strongly in recent years. It will grow from $4.36 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to tourism and leisure activities, safety standards and regulations, military and defense applications, environmental awareness, diving industry growth.
The diving equipment market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to adventure tourism trends, safety and training standards, health and wellness trends, environmental conservation, global market expansion, changing consumer preferences. Major trends in the forecast period include technological integration, technological advancements, rise in recreational diving, sustainability and eco-friendly design, underwater photography and videography.
The increase in the popularity of water sports is expected to propel the growth of the diving equipment market going forward. Water sports refers to a type of sports that are played or practiced on the water. These include sports such as swimming, water polo, and surfing. Diving equipment is usually used in water sports to protect the body and make it more comfortable to participate in the water sport. Rashguard, Wet suit, hoods, boots, gloves, and earplugs are some of the diving equipment used while playing scuba water sport. For instance, according to World Aquatics, formerly known as FINA, a Switzerland-based international water sports competition administrator, the 19th FINA World Championships in Budapest 2022 featured 2,000 athletes from 180 countries. In 2023, the World Aquatics Championships in Fukuoka attracted 2,392 athletes representing 194 countries, highlighting global enthusiasm for aquatic sports. Therefore, the increase in the popularity of water sports is driving the growth of the diving equipment market.
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The diving equipment market covered in this report is segmented –
1) By Type: Rebreather, Cylinders And Propulsion Vehicle, Decompression Chamber, Exposure Suits, Accessories, Other Types
2) By Depth: Recreational Diving, Clearance Diving, Saturation Diving
3) By End-User: Oil And Gas Industry, Naval Industry, Aquaculture Industry, Others End Users
4) By Distribution Channel: Specialty Store, Online, Other Distribution Channels
Top Major Players:
Cobham PLC
IST Sports Corp.
Johnson Outdoors Inc
Mares Italia S.p.A
Suunto Oy
North America was the largest region in the diving equipment market in 2023.
Major companies operating in the diving equipment market are focused on partnerships to increase their profitability in the market. Partnerships in diving equipment are collaborative agreements among manufacturers, suppliers, distributors, and stakeholders to achieve shared objectives like product development, market expansion, or enhancing safety standards. For instance, in March 2023, Sonardyne International Ltd., a UK-based subsea instrumentation manufacturer collaborated with Shearwater Research, a Canada-based manufacturer of technical diving products. They have collaborated to integrate the Shearwater Petrel 2 and DiveCAN with DiveTrack, a durable diver tracking and communication system. The DiveTrack transponder seamlessly integrates with the Shearwater system, enabling comprehensive diver metric monitoring, real-time tank pressure updates, and streamlined communication for enhanced dive safety and training control. This collaboration empowers dive supervisors with improved visibility and efficient management of their dive teams.
The diving equipment market report table of contents includes:
1. Executive Summary
2. Diving Equipment Market Characteristics
3. Diving Equipment Market Trends And Strategies
4. Diving Equipment Market – Macro Economic Scenario
5. Global Diving Equipment Market Size and Growth
…
32. Global Diving Equipment Market Competitive Benchmarking
33. Global Diving Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Diving Equipment Market
35. Diving Equipment Market Future Outlook and Potential Analysis
36. Appendix
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