PUBLISHER: The Business Research Company | PRODUCT CODE: 1428235
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428235
Scuba diving equipment comprises specialized gear that scuba divers utilize to enhance the ease, safety, and comfort of their diving experiences. These tools enable divers to explore the underwater world by facilitating comfortable breathing, clear vision, and efficient movement beneath the surface.
The primary categories of scuba diving equipment include the BCD (buoyancy control device) and regulator, cylinder, diving propulsion vehicle, decompression chamber, exposure suit, and various accessories. The regulator functions to reduce the pressure of the breathing gas supply and deliver it to the diver at ambient pressure, ensuring a safe breathing experience. The buoyancy control device is an integral component that features a bladder, aiding divers in achieving neutral buoyancy underwater and positive buoyancy on the surface when needed. The device's functionality varies based on the depth and the type of diving, encompassing recreational diving, clearance diving, and saturation diving. These scuba diving equipment items are available through diverse distribution channels, including specialty stores and online platforms.
The scuba diving equipment research report is one of a series of new reports from The Business Research Company that provides scuba diving equipment market statistics, including the scuba diving equipment industry's global market size, regional shares, competitors with scuba diving equipment market share, detailed scuba diving equipment market segments, market trends and opportunities, and any further data you may need to thrive in the scuba diving equipment industry. This scuba diving equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The scuba diving equipment market size has grown steadily in recent years. It will grow from $4.39 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth observed in the historical period can be credited to the recovery post-pandemic, advancements in rescue and safety equipment, increased availability of diving courses, the penetration of e-commerce, and a surge in disposable income.
The scuba diving equipment market size is expected to see steady growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The anticipated growth in the forecast period can be linked to an increasing demand from emerging economies, a focus on sustainability in design and materials, the integration of digitalization in diving, the influence of health and wellness trends, and the expansion of dive tourism. Key trends expected in the forecast period encompass the integration of augmented reality (AR), initiatives promoting a circular economy, the utilization of blockchain for equipment traceability, and applications of nanotechnology.
The rise in the popularity of water sports is anticipated to fuel the growth of the scuba diving equipment market. Water sports encompass various activities played or practiced on the water, such as swimming, water polo, and surfing. Scuba diving equipment, including rash guards, wet suits, hoods, boots, gloves, and earplugs, is commonly utilized in water sports to safeguard the body and enhance comfort during these activities. As per the Watersports Participation Survey 2021 by British Marine, a UK-based marine transportation company, the participation in any boating activity in the UK rose to 11.7 million individuals in 2021, almost doubling from 6.3 million in 2020. Hence, the increased popularity of water sports is a driving factor for the growth of the scuba diving equipment market.
The growth of tourism is expected to drive the expansion of the scuba diving equipment market. Tourism involves individuals or groups traveling outside their usual environment for leisure, recreation, business, or other purposes. Scuba diving equipment plays a pivotal role in the tourism industry, providing access to the mesmerizing world beneath the waves. High-quality diving gear enables tourists to explore coral reefs, shipwrecks, and marine life, offering unique experiences not available on land. According to the United Nations World Tourism Organization (UNWTO), a Spain-based UN agency, over 900 million tourists traveled internationally in 2022, doubling the number from 2021. Notably, the Middle East experienced significant relative growth, with tourist arrivals reaching 83% of pre-pandemic levels. Consequently, the upsurge in tourism is contributing to the growth of the scuba diving equipment market.
The emergence of eco-friendly wetsuits is a prominent trend gaining traction in the scuba diving equipment market. Leading companies in the scuba diving equipment sector are strategically introducing environmentally friendly products to enhance their market position and address consumer preferences. For example, in April 2021, Aqualung, a US-based scuba diving equipment manufacturer, unveiled the Xscape 3/4mm Wetsuit, an eco-friendly wetsuit designed for diving in water temperatures ranging from 20 to 28 degrees Celsius. This 3/4mm suit offers excellent four-way flexibility, catering to various ocean sports enthusiasts. What sets it apart is its construction entirely from non-neoprene fibers, ensuring comfortable underwater swimming.
Major players in the scuba diving market are innovating with new products such as wristwatch dive computers to maintain a competitive edge. A wristwatch dive computer is a specialized device crafted for scuba divers, providing convenient monitoring and management of dive information from a wrist-mounted device. For instance, in August 2023, Scubapro, a US-based sporting goods company, launched the Galileo 3 (G3), a full-color wristwatch dive computer designed for underwater exploration and everyday use. Featuring a stainless-steel housing, scratch-resistant sapphire glass lens, and a depth rating of 300m, the dive computer boasts a vibrant high-resolution TFT LCD display, multiple dive modes, wireless air integration, and personalized dive management features, including optional heart rate monitoring. The Galileo 3 also includes a Sport mode for topside activities, smart notifications when paired with a compatible iPhone, and a rechargeable lithium battery providing up to 30 hours of use per charge. The Bluetooth Low Energy interface allows users to download dive data to iOS or Android devices. With various accessories and customizable wrist straps, the Galileo 3 proves to be a versatile and user-friendly addition to the scuba diving gear market.
In November 2021, Brownie's Marine Group Inc., a US-based developer, manufacturer, and distributor of tankless scuba diving equipment, completed the acquisition of Submersible Systems Inc. This strategic move is anticipated to extend the reach and customer base of Brownie's Marine Group, fostering synergies between the brands. Submersible Systems Inc. is a US-based manufacturer specializing in emergency breathing systems for scuba divers.
Major companies operating in the scuba diving equipment market report are Johnson Outdoors Inc., Aqua Lung International, Suunto, Marquee Brands, Oceanic Worldwide, Bauer Compressors Inc., Tusa, Scubapro, Apeks Marine Equipment Ltd., Huish Outdoors LLC, Hollis Gear, Zeagle Systems Inc., Sherwood Scuba LLC, Halcyon Manufacturing Inc., Poseidon Diving System AB, Cressi Sub S.p.a, Atomic Aquatics Inc., Aquatec-Duton Industry Co. Ltd., Apollo Sports Inc., Armor Products LLC, Beuchat International SA, Duck Diver LLC, H2Odessey, IST Sports Corp., Mares S.p.A, Seasoft Scuba Inc., Dive Rite.
North America was the largest region in the scuba-diving equipment market in 2023. The regions covered in the scuba diving equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the scuba diving equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The scuba diving equipment market consists of sale of bags and apparel, rebreathers, diving computers, and gauges. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Scuba Diving Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on scuba diving equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for scuba diving equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The scuba diving equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.