Scuba Diving Equipment Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Scuba Diving Equipment Market was valued at USD 2.3 billion in 2023 and is projected to grow at a CAGR of over 4% from 2024 to 2032. The market's growth is driven by the surge in coastal tourism. The World Economic Forum highlights that coastal and marine tourism constitutes nearly 50% of global tourism. This trend is fueled by rising disposable incomes, granting individuals greater financial freedom to indulge in leisure activities like scuba diving. With this increased spending power, individuals can invest not only in basic equipment but also in high-quality gear, crucial for safe and enjoyable diving experiences. Moreover, as incomes rise, individuals are more inclined to book diving courses, join guided dives, and travel to premium diving destinations, further boosting the demand for various scuba gear.

The overall scuba diving equipment industry is classified based on the equipment, consumer group, distribution, price range, end use , and region.

The market categorizes end users into recreational divers, professional divers, military personnel, and public safety divers. In 2023, the recreational diver segment commanded a dominant market share of approximately 60% and is projected to surpass USD 2 billion by 2032. Dive tourism's expansion plays a pivotal role in boosting recreational diving. With numerous destinations boasting enticing diving sites, tourists frequently indulge in recreational diving during their vacations. This trend amplifies the demand for equipment tailored for recreational use.

The market segments equipment types into diving masks and goggles, regulators and octopuses, Buoyancy Control Devices (BCDs), wetsuits and drysuits, and fins. In 2023, the wetsuits and drysuits segment captured around 25% of the market share. This segment's growth is largely due to heightened awareness surrounding safety and comfort in scuba diving. Such considerations drive the demand for high-quality, comfortable, and well-fitting wetsuits. Moreover, drysuits play a pivotal role in cold water environments, extending the diving season by offering insulation against chilly temperatures.

North America dominated the market with a share exceeding 38% in 2023. The region is set for significant growth, fueled by rising participation in recreational diving, heightened awareness of underwater conservation, and a burgeoning trend in adventure tourism. Strong economic conditions and robust infrastructure for water-based activities further solidify North America's stature in the scuba diving market. As demand for premium equipment and services rises, North America stands out as a pivotal growth center in the evolving scuba diving landscape.

Product Code: 7519

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2018 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Component suppliers
- 3.2.3 Technology provider
- 3.2.4 Manufacturers
- 3.2.5 Distributors
- 3.2.6 End users
3.3 Popular dive destinations
3.4 Consumer buying behavior
3.5 Profit margin analysis
3.6 Technology innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
- 3.8.1 Partnership/Collaboration
- 3.8.2 Merger/Acquisition
- 3.8.3 Investment
- 3.8.4 Product launch and innovation
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising disposable income and surging coastal tourism
  - 3.10.1.2 Technological advancements in scuba diving equipment
  - 3.10.1.3 Increasing government initiatives and policies to develop and promote travel and tourism
  - 3.10.1.4 Rising interest in adventure sports
- 3.10.2 Industry pitfalls and challenges
  - 3.10.2.1 Limited accessibility and awareness
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market, By Equipment Type (Revenue and Units)

5.1 Key trends
5.2 Diving masks and goggles
5.3 Regulators and octopuses
5.4 Buoyancy control devices (BCDs)
5.5 Wetsuits and drysuits
5.6 Fins
5.7 Others

Chapter 6 Market, by Consumer Group (Revenue and Units)

6.1 Key trends
6.2 Men
- 6.2.1 18-35 years
- 6.2.2 36-55 years
- 6.2.3 55 and above
6.3 Women
- 6.3.1 18-35 years
- 6.3.2 36-55 years
- 6.3.3 55 and above

Chapter 7 Market, By Distribution (Revenue and Units)

7.1 Key trends
7.2 Online retailers
7.3 Supermarkets and hypermarkets
7.4 Specialty store

Chapter 8 Market, By Price Range (Revenue and Units)

8.1 Key trends
8.2 Low-mid end equipment
8.3 High-end equipment

Chapter 9 Market, By End-user (Revenue and Units)

9.1 Key trends
9.2 Recreational divers
9.3 Professional divers
9.4 Military and public safety divers

Chapter 10 Market, By Region

10.1 Key trends, by region
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Russia
- 10.3.7 Nordics
- 10.3.8 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 Australia
- 10.4.5 South Korea
- 10.4.6 Southeast Asia
- 10.4.7 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Akona
11.2 Apeks Marine Equipment Ltd.
11.3 Aqualung Group
11.4 Atomic Aquatics
11.5 Beuchat International S.A.
11.6 Cressi Sub S.p.A.
11.7 Dive Rite
11.8 Henderson DiveWear
11.9 Hollis Gear Inc.
11.10 IST Sports Corp.
11.11 Johnson Outdoors Inc. (SCUBAPRO)
11.12 Mares S.p.A.
11.13 Oceanic Worldwide
11.14 Seac Sub S.p.A
11.15 Sherwood Scuba
11.16 Suunto Oy
11.17 TUSA
11.18 XDeep
11.19 Zeagle Systems